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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 674,035 $ 703,701 $ 505,624
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 144,178 139,499 149,822
Accretion of discount and amortization of premiums, net (22,379) (20,572) (7,260)
Stock compensation costs 30,761 30,937 24,657
Deferred income tax (benefit) expense (21,604) (16,470) 33,856
Provision for credit losses 98,685 64,255 46,266
Net gains on sales of loans (4,035) (6,590) (8,870)
Net gains on sales of AFS investment securities (3,930) (2,535)  
Net gains on sales of AFS investment securities     (8,037)
Net gains on sales of fixed assets (114) (6,683) (77,388)
Net gain on sale of business 0 (31,470) (3,807)
Loans held-for-sale:      
Originations and purchases (10,569) (20,176) (20,521)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 10,436 20,068 21,363
Proceeds from distributions received from equity method investees 3,470 3,761 3,582
Net change in accrued interest receivable and other assets (170,819) (60,791) 45,354
Net change in other liabilities 7,012 88,070 (1,965)
Other net operating activities 702 (1,832) 599
Total adjustments 61,794 179,471 197,651
Net cash provided by operating activities 735,829 883,172 703,275
Net (increase) decrease in:      
Investments in qualified affordable housing partnerships, tax credit and other investments (146,902) (132,605) (173,630)
Interest-bearing deposits with banks 193,455 4,212 (63,096)
Resale agreements:      
Proceeds from paydowns and maturities 650,000 175,000 1,250,000
Purchases (325,000) (160,000) (600,000)
AFS investment securities:      
Proceeds from sales 627,110 364,270  
Proceeds from sales     832,844
Proceeds from repayments, maturities and redemptions 1,155,002 742,132  
Proceeds from repayments, maturities and redemptions     413,593
Purchases (2,303,317) (888,673)  
Purchases     (828,604)
Loans held-for-investment:      
Proceeds from sales of loans originally classified as held-for-investment 288,823 483,948 566,688
Purchases (524,142) (597,112) (534,816)
Other changes in loans held-for-investment, net (2,184,915) (3,313,382) (3,514,786)
Premises and equipment:      
Proceeds from sales 403 1,638 119,749
Purchases (9,859) (13,787) (13,754)
Sales of businesses, net of cash transferred:      
Proceeds 0 0 3,633
Payments 0 (503,687) 0
Proceeds from sales of other real estate owned (“OREO”) 1,224 4,484 6,999
Proceeds from distributions received from equity method investees 9,502 5,185 8,387
Other net investing activities (2,560) (4,035) 19,969
Net cash (used in) provided by investing activities (2,571,176) (3,832,412) (2,506,824)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase in deposits 1,902,741 3,903,192 2,272,500
Net (decrease) increase in short-term borrowings (28,535) 61,392 (61,560)
FHLB advances      
Proceeds 1,500,000 0 0
Repayment (1,082,001) 0 0
Repayment of long-term debt and lease liabilities (884) (25,000) (15,000)
Common stock:      
Proceeds from issuance pursuant to various stock compensation plans and agreements 3,383 2,846 2,280
Stocks tendered for payment of withholding taxes (14,635) (15,634) (12,940)
Cash dividends paid (155,107) (125,988) (116,820)
Net cash (used in) provided by financing activities 2,124,962 3,800,808 2,068,460
Effect of exchange rate changes on cash and cash equivalents (29,843) (24,783) 31,178
NET INCREASE IN CASH AND CASH EQUIVALENTS 259,772 826,785 296,089
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 3,001,377 2,174,592 1,878,503
CASH AND CASH EQUIVALENTS, END OF YEAR 3,261,149 3,001,377 2,174,592
Cash paid during the year for:      
Interest 418,840 253,026 138,766
Income taxes, net 158,296 85,872 98,126
Noncash investing and financing activities:      
Loans transferred from held-for-investment to held-for-sale [1] 285,637 481,593 613,088
Loans transferred from held-for-sale to held-for-investment 0 2,306 0
Deposits transferred to branch liability held-for-sale 0 0 605,111
Investment security transferred from held-to-maturity to AFS 0 0 115,615
Premises and equipment transferred to branch assets held-for-sale 0 0 8,043
Loans transferred to OREO $ 2,013 $ 1,206 $ 777
[1]
December 31, 2017 amount includes loans transferred from held-for-investment to branch assets held-for-sale.