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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 567,797 $ 674,035 $ 703,701
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 210,653 98,685 64,255
Depreciation and amortization 119,908 144,178 139,499
Accretion of discount and amortization of premiums, net (16,456) (22,379) (20,572)
Stock compensation costs 29,237 30,761 30,937
Deferred income tax benefit (41,515) (21,604) (16,470)
Net gains on sales of loans (4,501) (4,035) (6,590)
Gains on sales of AFS debt securities (12,299) (3,930) (2,535)
Net gain on sale of business 0 0 (31,470)
Loans held-for-sale:      
Originations and purchases (81,662) (10,569) (20,176)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 80,659 10,436 20,068
Proceeds from distributions received from equity method investees 8,786 3,470 3,761
Net change in accrued interest receivable and other assets (339,868) (170,819) (60,791)
Net change in other liabilities 170,403 7,012 88,070
Other net operating activities 2,183 588 (8,515)
Total adjustments 125,528 61,794 179,471
Net cash provided by operating activities 693,325 735,829 883,172
Net Increase (Decrease) in Cash Flows from Investing Activities:      
Investments in qualified affordable housing partnerships, tax credit and other investments (154,887) (146,902) (132,605)
Interest-bearing deposits with banks (577,607) 193,455 4,212
Resale agreements:      
Proceeds from paydowns and maturities 450,000 650,000 175,000
Purchases (800,000) (325,000) (160,000)
AFS debt securities:      
Proceeds from sales 525,433 627,110 364,270
Proceeds from repayments, maturities and redemptions 2,070,131 1,155,002 742,132
Purchases (4,758,254) (2,303,317) (888,673)
Loans held-for-investment:      
Proceeds from sales of loans originally classified as held-for-investment 331,864 288,823 483,948
Purchases (389,863) (524,142) (597,112)
Other changes in loans held-for-investment, net (3,557,369) (2,184,915) (3,313,382)
Premises and equipment:      
Proceeds from sales 5,154 403 1,638
Purchases (2,656) (9,859) (13,787)
Payment received from the sales of businesses, net of cash transferred 0 0 (503,687)
Distributions received from equity method investees 15,901 9,502 5,185
Other net investing activities (6,563) (1,336) 449
Net cash provided by (used in) investing activities (6,848,716) (2,571,176) (3,832,412)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase in deposits 7,482,730 1,902,741 3,903,192
Net (decrease) increase in short-term borrowings (9,016) (28,535) 61,392
FHLB advances:      
Proceeds 10,300 1,500,000 0
Repayments (105,300) (1,082,001) 0
Repurchase agreements:      
Proceeds 48,063 0 0
Repayment (198,063) 0 0
Extinguishment cost (8,740) 0 0
Long-term debt and lease liabilities:      
Proceeds from long-term debt 1,437,269 0 0
Repayments of long-term debt and lease liabilities (1,438,335) (884) (25,000)
Common stock:      
Proceeds from issuance pursuant to various stock compensation plans and agreements 2,326 3,383 2,846
Stocks tendered for payment of withholding taxes (8,253) (14,635) (15,634)
Repurchase of common stocks pursuant to the Stock Repurchase Program (145,966) 0 0
Cash dividends paid (158,222) (155,107) (125,988)
Other net financing activities 0 0 0
Net cash provided by (used in) financing activities 6,908,793 2,124,962 3,800,808
Effect of exchange rate changes on cash and cash equivalents 3,420 (29,843) (24,783)
NET INCREASE IN CASH AND CASH EQUIVALENTS 756,822 259,772 826,785
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 3,261,149 3,001,377 2,174,592
CASH AND CASH EQUIVALENTS, END OF YEAR 4,017,971 3,261,149 3,001,377
Cash paid during the year for:      
Interest 233,139 418,840 253,026
Income taxes, net 116,412 158,296 85,872
Noncash investing and financing activities:      
Loans transferred from held-for-investment to held-for-sale 329,069 285,637 481,593
Loans transferred from held-for-sale to held-for-investment 0 0 2,306
Loans transferred to other real estate owned (“OREO”) $ 19,504 $ 2,013 $ 1,206