XML 17 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net income $ 364,865 $ 367,394
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 30,943 (68,562)
Depreciation, amortization and accretion, net 64,726 75,389
Stock-based compensation expense 23,852 9,437
Amortization of premium on securities, net 2,048 5,188
Accretion of discount and deferred fees on loans, net (17,237) (68,413)
Mortgage servicing rights fair value changes, net of economic hedge (41,087) 15,685
Non-designated derivatives fair value changes, net 957 (378)
Originations and purchases of mortgage loans held-for-sale (2,377,249) (5,504,906)
Early buy-out exercises of mortgage loans held-for-sale guaranteed by U.S. government agencies, net of subsequent paydowns or payoffs 69,605 (9,747)
Proceeds from sales of mortgage loans held-for-sale 2,664,774 6,014,689
Bank owned life insurance (“BOLI”) loss (income) 588 (4,620)
Decrease (increase) in trading securities, net 882 (432)
Decrease (increase) in brokerage customer receivables, net 5,741 (8,942)
Gains on mortgage loans sold (37,022) (178,927)
Losses (gains) on investment securities, net 13,682 (8)
Losses (gains) on sales of premises and equipment, net, and sale of related deposit liabilities 2,114 (3,649)
Gains on sales and fair value adjustments of other real estate owned, net (805) (2,134)
Decrease in accrued interest receivable and other assets, net 22,542 121,657
Increase (decrease) in accrued interest payable and other liabilities, net 261,253 (27,720)
Net Cash Provided by Operating Activities 1,055,172 731,001
Investing Activities:    
Proceeds from maturities and calls of available-for-sale securities 275,336 1,101,149
Proceeds from maturities and calls of held-to-maturity securities 174,211 177,668
Proceeds from sales of available-for-sale securities 0 192,227
Proceeds from sales of equity securities with readily determinable fair value 21,753 9,759
Proceeds from sales and capital distributions of equity securities without readily determinable fair value 1,232 2,467
Purchases of available-for-sale securities (1,438,270) (682,172)
Purchases of held-to-maturity securities (623,011) (2,537,242)
Purchases of equity securities with readily determinable fair value (54,495) (6,000)
Purchases of equity securities without readily determinable fair value (9,892) (7,295)
(Purchases) redemptions of Federal Home Loan Bank and Federal Reserve Bank stock, net (42,778) 180
Distributions from (contributions to) investments in partnerships, net 3,506 (2,757)
Proceeds from sales of other real estate owned 3,802 7,263
Decrease in securities purchased under resale agreements with terms exceeding three months, net 700,000 0
Decrease (increase) in interest-bearing deposits with banks, net 1,400,793 (428,917)
Increase in loans, net (3,324,304) (1,169,636)
Redemption of BOLI 960 0
Purchases of premises and equipment, net (37,462) (23,434)
Net Cash Used for Investing Activities (2,948,619) (3,366,740)
Financing Activities:    
Increase in deposit accounts, net 701,597 2,863,778
Decrease in other borrowings, net (18,103) (15,716)
Increase in Federal Home Loan Bank advances, net 1,075,000 12,629
Proceeds from common stock offering, net 285,721 0
Cash payments to settle contingent consideration liabilities recognized in business combinations 0 (16,583)
Issuance of common shares resulting from the exercise of stock options, employee stock purchase plan and conversion of common stock warrants 8,230 14,956
Common stock repurchases under authorized program 0 (9,540)
Dividends paid (80,556) (73,960)
Net Cash Provided by Financing Activities 1,971,889 2,775,564
Net Increase in Cash and Cash Equivalents 78,442 139,825
Cash and Cash Equivalents at Beginning of Period 411,205 322,474
Cash and Cash Equivalents at End of Period $ 489,647 $ 462,299