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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income per consolidated statements of income $ 121,143 $ 108,808
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense, net (22,872) 50,547
Depreciation and amortization 34,337 30,000
Net amortization of securities 15,527 8,458
Gains on sales of loans, net (58,905) (61,464)
Compensation expense, long-term incentive plan 4,511 3,907
Deferred income tax provision 18,750 (20,600)
Proceeds from sales of loans held for sale 1,854,487 1,869,187
Purchases and originations of loans held for sale (1,737,168) (1,976,190)
Originations of mortgage servicing rights (22,015) (20,728)
Earnings on bank-owned life insurance (3,633) (3,845)
Net change in other assets 39,808 (53,141)
Net change in other liabilities 10,781 5,667
Other operating activities, net (7,551) 30,367
Net cash from operating activities 247,200 (29,027)
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 144,356 128,367
Proceeds from maturities, prepayments and calls of securities available for sale 635,138 465,568
Purchases of securities available for sale (1,743,290) (758,008)
Net proceeds from bank-owned life insurance 1,791 592
Net change in federal funds sold and securities purchased under reverse repurchase agreements 50 (50)
Net change in member bank stock (1,217) 281
Net change in LHFI and PPP loans (137,919) (1,384,833)
Proceeds from sales of PPP loans 353,287 0
Purchases of premises and equipment (19,499) (15,634)
Proceeds from sales of premises and equipment 741 548
Proceeds from sales of other real estate 3,611 11,434
Purchases of software (2,926) (6,050)
Investments in tax credit and other partnerships (14,690) (4,458)
Purchase of insurance book of business 0 (3,097)
Net cash used in business acquisition 0 (4,834)
Net cash from investing activities (780,567) (1,570,174)
Financing Activities    
Net change in deposits 874,075 1,976,856
Net change in federal funds purchased and securities sold under repurchase agreements (18,102) (102,186)
Net change in short-term borrowings (19,171) 4,272
Payments on long-term FHLB advances (14) (39)
Payments under finance lease obligations (1,072) (1,319)
Common stock dividends (43,800) (44,079)
Repurchase and retirement of common stock (34,658) (27,538)
Shares withheld to pay taxes, long-term incentive plan (1,337) (1,094)
Net cash from financing activities 755,921 1,804,873
Net change in cash and cash equivalents 222,554 205,672
Cash and cash equivalents at beginning of period 1,952,504 358,916
Cash and cash equivalents at end of period $ 2,175,058 $ 564,588