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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income per consolidated statements of income $ 63,495 $ 99,943
Adjustments to reconcile net income to net cash provided by operating activities:    
PCL (818) (19,331)
Depreciation and amortization 20,685 22,428
Net amortization of securities 6,672 10,780
Gains on sales of loans, net (14,971) (45,625)
Compensation expense, long-term incentive plan 2,485 3,395
Deferred income tax provision 9,100 12,500
Proceeds from sales of loans held for sale 726,028 1,334,752
Purchases and originations of loans held for sale (643,267) (1,220,055)
Originations of mortgage servicing rights (10,159) (15,201)
Earnings on bank-owned life insurance (2,417) (2,418)
Net change in other assets 982 23,623
Net change in other liabilities 23,876 (9,802)
Other operating activities, net (31,022) (6,871)
Net cash from operating activities 150,669 188,118
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 69,807 105,814
Proceeds from maturities, prepayments and calls of securities available for sale 253,655 442,450
Purchases of securities held to maturity (555,191) 0
Purchases of securities available for sale (209,100) (1,024,649)
Net proceeds from bank-owned life insurance 307 1,791
Net change in federal funds sold and securities purchased under reverse repurchase agreements 0 50
Net change in member bank stock (112) (1,037)
Net change in LHFI and PPP loans (674,854) (237,666)
Proceeds from sales of PPP loans 0 353,287
Purchases of premises and equipment (13,881) (13,920)
Proceeds from sales of premises and equipment 4,926 0
Proceeds from sales of other real estate 1,413 1,167
Purchases of software (3,664) (2,336)
Investments in tax credit and other partnerships (16,176) (13,396)
Net cash from investing activities (1,142,870) (388,445)
Financing Activities    
Net change in deposits (316,992) 583,320
Net change in federal funds purchased and securities sold under repurchase agreements (168,420) (7,343)
Net change in short-term borrowings 0 (4,653)
Payments on long-term FHLB advances (9) (9)
Payments under finance lease obligations (733) (712)
Common stock dividends (28,398) (29,325)
Repurchase and retirement of common stock (16,599) (24,990)
Shares withheld to pay taxes, long-term incentive plan (1,016) (1,241)
Net cash from financing activities (532,167) 515,047
Net change in cash and cash equivalents (1,524,368) 314,720
Cash and cash equivalents at beginning of period 2,266,829 1,952,504
Cash and cash equivalents at end of period $ 742,461 $ 2,267,224