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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 144,824 $ 164,024
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,186 39,498
Accretion of discount and amortization of premiums, net (4,519) (4,414)
Stock compensation costs 7,209 7,444
Deferred income tax expense (benefit) 28 (406)
Provision for credit losses 73,870 22,579
Net gains on sales of loans (950) (915)
Net gains on sales of AFS debt securities (1,529) (1,561)
Net loss on sales of fixed assets 3 0
Loans held-for-sale:    
Originations and purchases (5,802) (2,167)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 4,657 2,454
Proceeds from distributions received from equity method investees 973 1,150
Net change in accrued interest receivable and other assets (462,766) (27,639)
Net change in accrued expenses and other liabilities 304,680 (60,806)
Other net operating activities (161) 0
Total adjustments (53,121) (24,783)
Net cash provided by operating activities 91,703 139,241
Net (increase) decrease in:    
Investments in qualified affordable housing partnerships, tax credit and other investments (27,581) (33,261)
Interest-bearing deposits with banks (115,419) 245,375
Resale agreements:    
Proceeds from paydowns and maturities 250,000 0
AFS debt securities:    
Proceeds from sales 306,463 151,339
Proceeds from repayments, maturities and redemptions 308,620 55,712
Purchases (987,130) (69,805)
Loans held-for-investment:    
Proceeds from sales of loans originally classified as held-for-investment 110,945 92,887
Purchases (133,185) (147,938)
Other changes in loans held-for-investment, net (1,116,358) (409,930)
Premises and equipment:    
Purchases (916) (3,336)
Proceeds from sales of other real estate owned (“OREO”) 295 0
Proceeds from distributions received from equity method investees 374 1,005
Other net investing activities (1,438) (729)
Net cash used in investing activities (1,405,330) (118,681)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 1,374,287 800,053
Net increase (decrease) in short-term borrowings 39,962 (19,514)
FHLB advances:    
Proceeds 0 300,000
Repayment (99,999) (282,000)
Repayment of long-term debt and lease liabilities (289) (217)
Common stock:    
Repurchase of common stock pursuant to the Stock Repurchase Program (145,966) 0
Stocks tendered for payment of withholding taxes (7,609) (14,036)
Cash dividends paid (41,358) (34,916)
Net cash provided by financing activities 1,119,028 749,370
Effect of exchange rate changes on cash and cash equivalents 13,492 14,018
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (181,107) 783,948
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,261,149 3,001,377
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,080,042 3,785,325
Cash paid during the period for:    
Interest 88,520 97,930
Income taxes, net 2,904 303
Noncash investing and financing activities:    
Loans transferred from held-for-investment to held-for-sale 110,223 92,228
Loans transferred to OREO $ 19,504 $ 0