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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 485,820 $ 530,683
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 103,220 95,777
Accretion of discount and amortization of premiums, net (12,917) (14,471)
Stock compensation costs 23,012 24,201
Deferred income tax (benefit) expense (2,434) 1,371
Provision for credit losses 80,108 46,296
Net gains on sales of loans (2,967) (5,081)
Net gains on sales of available-for-sale investment securities (3,066) (2,374)
Net gains on sales of fixed assets (48) (5,602)
Net gain on sale of business 0 (31,470)
Loans held-for-sale:    
Originations and purchases (6,341) (17,642)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 6,341 16,652
Proceeds from distributions received from equity method investees 3,012 2,670
Net change in accrued interest receivable and other assets (363,187) (38,164)
Net change in accrued expenses and other liabilities 77,693 92,036
Other net operating activities 773 (1,566)
Total adjustments (96,801) 162,633
Net cash provided by operating activities 389,019 693,316
Net (increase) decrease in:    
Investments in qualified affordable housing partnerships, tax credit and other investments (103,284) (72,983)
Interest-bearing deposits with banks 204,474 (24,925)
Resale agreements:    
Proceeds from paydowns and maturities 300,000 175,000
Purchases (125,000) (160,000)
Available-for-sale investment securities:    
Proceeds from sales 476,231 296,252
Proceeds from repayments, maturities and redemptions 283,974 404,070
Purchases (1,219,300) (514,622)
Loans held-for-investment:    
Proceeds from sales of loans originally classified as held-for-investment 224,662 363,209
Purchases (395,502) (451,037)
Other changes in loans held-for-investment, net (1,509,235) (2,160,858)
Premises and equipment:    
Purchases (8,504) (9,418)
Payment on sale of business, net of cash transferred 0 (503,687)
Proceeds from sales of other real estate owned (“OREO”) 0 3,602
Proceeds from distributions received from equity method investees 4,563 4,264
Other net investing activities (1,897) (3,002)
Net cash used in investing activities (1,868,818) (2,654,135)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 1,252,237 2,092,022
Net (decrease) increase in short-term borrowings (9,035) 63,131
Proceeds 1,500,000 0
Repayment (1,082,000) 0
Repayments of finance lease liabilities (658)  
Repayment of long-term debt   (15,000)
Common stock:    
Proceeds from issuance pursuant to various stock compensation plans and agreements 1,895 1,328
Stock tendered for payment of withholding taxes (14,230) (15,502)
Cash dividends paid (114,986) (92,632)
Net cash provided by financing activities 1,533,223 2,033,347
Effect of exchange rate changes on cash and cash equivalents (12,520) (28,333)
NET INCREASE IN CASH AND CASH EQUIVALENTS 40,904 44,195
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 3,001,377 2,174,592
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,042,281 2,218,787
Cash paid during the period for:    
Interest 313,793 166,422
Income taxes, net 116,074 71,064
Non-cash investing and financing activities:    
Loans transferred from held-for-investment to held-for-sale 222,434 363,591
Loans transferred from held-for-sale to held-for-investment 0 2,306
Loans transferred to OREO $ 2,013 $ 0