XML 27 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net (loss) earnings $ (1,899,137) $ 423,613 $ 606,959
Goodwill impairment 1,376,736 29,000 0
Depreciation and amortization 52,691 53,595 52,195
Amortization of net premiums on investment securities 37,488 52,749 44,197
Intangible asset amortization 11,419 13,576 12,734
Amortization of operating lease ROU assets 27,176 30,228 30,406
Provision for credit losses 52,000 24,500 (162,000)
Gain on sale of foreclosed assets, net (586) (3,470) (406)
Provision for losses on foreclosed assets 1,992 29 14
Loss (gain) on sale of loans and leases, net 161,346 (518) (1,733)
(Gain) loss on disposal of premises and equipment (571) 104 74
Loss (gain) on sale of securities, net 442,413 50,321 (1,615)
Gain on BOLI death benefits (416) 0 (491)
credit-linked notes, net 5,629 (1,089) (1,134)
LOCOM HFS Adjustment 8,461 0 0
Increase in other assets (214,614) (83,666) (97,181)
Increase (decrease) in accrued interest payable and other liabilities 45,044 78,231 (11,286)
Net cash provided by operating activities 135,768 701,972 502,956
Cash flows from investing activities:      
Cash acquired in acquisitions, net of cash consideration paid 335,319 0 3,757,122
Net decrease (increase) in loans and leases 464,057 (5,816,608) (3,925,829)
Proceeds from sales of loans and leases 8,524,063 72,214 144,550
Proceeds from maturities and paydowns of securities available-for-sale 261,042 658,719 847,472
Proceeds from sales of securities available-for-sale 3,028,011 2,013,094 367,348
Purchases of securities available-for-sale (13,439) (380,251) (6,863,950)
Proceeds from maturities and paydowns of securities held-to-maturity 1,353 851 0
Net (purchases) redemptions of Federal Home Loan Bank stock (31,852) (17,040) 0
Proceeds from sales of foreclosed assets 17,137 19,247 2,638
Purchases of premises and equipment, net (15,219) (20,128) (17,262)
Proceeds from sales of premises and equipment 9,018 11 95
Proceeds from BOLI death benefits 3,946 555 4,143
Net decrease (increase) in equipment leased to others under operating leases 25,709 (100,734) (30,786)
Net cash provided by (used in) investing activities 12,609,145 (3,570,070) (5,714,459)
Cash flows from financing activities:      
Net (decrease) increase in noninterest-bearing deposits (5,722,546) (3,330,776) 3,726,157
Net (decrease) increase in interest-bearing deposits (4,359,678) 2,269,353 2,170,769
Net increase (decrease) in borrowings 185,784 1,763,119 (55,210)
Net proceeds from stock issuance 382,900 0 0
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan 69 0 0
Restricted stock surrendered   (9,531) (8,505)
Common stock dividends paid   (120,256) (119,443)
Net cash (used in) provided by financing activities (9,607,559) 1,051,086 6,108,076
Net increase (decrease) in cash and cash equivalents 3,137,354 (1,817,012) 896,573
Cash and cash equivalents, beginning of year 2,240,222 4,057,234 3,160,661
Cash and cash equivalents, end of year 5,377,576 2,240,222 4,057,234
Supplemental disclosures of cash flow information:      
Cash paid for interest 1,063,981 238,377 53,446
Cash (received) paid for income taxes (68,168) 97,254 136,015
Loans transferred to foreclosed assets 20,915 7,985 1,062
Transfers from loans held for investment to loans held for sale 3,162,615 76,253 25,554
Loan, Transfer from Held-for-Sale to Held-in-Portfolio 513,914 0 0
Transfer of securities available-for-sale to held-to-maturity 0 2,260,407 0
Fair value of assets acquired 38,534,064 41,228,936  
Liabilities assumed 35,143,299 37,278,405  
Pacific Western Bank      
Supplemental disclosures of cash flow information:      
Fair value of assets acquired 8,206,850    
Business Combination, Consideration Transferred (663,004)    
Parent [Member]      
Cash flows from operating activities:      
Earned stock compensation 28,697 34,769 32,223
Increase in other assets (466,018) (323,852) (67,242)
Cash flows from investing activities:      
Cash acquired in acquisitions, net of cash consideration paid 26,310   0
Cash flows from financing activities:      
Net proceeds from subordinated notes offering 0 0 394,308
Net proceeds from stock issuance 382,900 0 0
Net proceeds from preferred stock offering 0 498,516 0
Restricted stock surrendered (5,419) (9,531) (8,505)
Preferred stock dividends paid (39,788) (19,339) 0
Common stock dividends paid (48,881) (120,256) $ (119,443)
Supplemental disclosures of cash flow information:      
Fair value of assets acquired 3,805,364 4,090,143  
Liabilities assumed $ 414,599 $ 139,612