XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 105,963 $ 92,643
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (6,500) (7,500)
Net amortization of premiums and discounts from acquisition 379 117
Depreciation and amortization 13,152 14,042
Amortization of debt issuance costs 113 113
Deferred income tax (benefit) expense (1,023) 10,246
Net decrease (increase) in trading securities and other earning assets 14,816 (9,350)
Losses on investment securities, net 522 8,336
Gains on sales of assets (2,354) (4,298)
Amortization of securities premiums, net of discount accretion 11,180 14,876
Originations of loans held for sale (8,330) (45,128)
Gains on sales of loans held for sale, net (270) (1,602)
Proceeds from sales of loans held for sale 9,493 43,163
Equity-based compensation 6,164 5,152
Net tax benefit related to equity compensation plans 2,369 1,079
Changes in:    
Accrued income 3,860 4,156
Accrued expenses and taxes (72,489) (88,201)
Other assets and liabilities, net 119,007 78,096
Net cash provided by operating activities 196,052 115,940
Securities held to maturity:    
Maturities, calls and principal repayments 70,091 49,520
Purchases (334,546) (77,576)
Securities available for sale:    
Sales 0 129,128
Maturities, calls and principal repayments 439,293 520,441
Purchases (540,925) (1,322,855)
Equity securities with readily determinable fair values:    
Sales 9,725  
Purchases (353) (226)
Equity securities without readily determinable fair values:    
Maturities, calls and principal repayments 6 2,177
Purchases (11,323) (7,144)
Payment on low-income housing tax credit investment commitments (8,395) (1,173)
Net increase in loans (608,888) (398,795)
Net (increase) decrease in fed funds sold and resell agreements (103,452) 20,522
Net cash activity from acquisitions and divestitures 265,639 16,623
Net decrease (increase) in interest-bearing balances due from other financial institutions 14,368 (11,347)
Purchases of premises and equipment (8,643) (5,958)
Proceeds from sales of premises and equipment 2,968 73
Net cash used in investing activities (814,435) (1,086,590)
FINANCING ACTIVITIES    
Net (decrease) increase in demand and savings deposits (1,207,226) 1,441,071
Net decrease in time deposits (264,608) (211,530)
Net (decrease) increase in fed funds purchased and repurchase agreements (397,900) 444,321
Cash dividends paid (17,917) (15,456)
Proceeds from exercise of stock options and sales of treasury shares 615 12,237
Purchases of treasury stock (22,487) (4,027)
Net cash (used in) provided by financing activities (1,909,523) 1,666,616
(Decrease) increase in cash and cash equivalents (2,527,906) 695,966
Cash and cash equivalents at beginning of period 9,214,564 3,497,566
Cash and cash equivalents at end of period 6,686,658 4,193,532
Supplemental disclosures:    
Income tax payments 795 622
Total interest payments 13,043 $ 14,337
Noncash disclosures:    
Acquisition of low-income housing tax credit investments 6,398  
Commitment to fund low-income housing tax credit investments 6,398  
Transfer of securities from available-for-sale to held-to-maturity $ 2,857,187