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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 1,186,000 $ 1,569,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 350,000 270,000
Depreciation and amortization of premises and equipment 159,000 149,000
Amortization of capitalized servicing rights 70,000 57,000
Amortization of core deposit and other intangible assets 28,000 32,000
Provision for deferred income taxes (14,000) (7,000)
Asset write-downs 6,000 1,000
Net (gain) loss on sales of assets 3,000 (234,000)
Net change in accrued interest receivable, payable 0 259,000
Net change in other accrued income and expense 51,000 (72,000)
Net change in loans originated for sale 11,000 (340,000)
Net change in trading account and other non-hedging derivative assets and liabilities 112,000 1,000
Net cash provided by operating activities 1,962,000 1,685,000
Cash flows from investing activities    
Available for sale 58,000 0
Equity and other securities 223,000 614,000
Available for sale 3,522,000 298,000
Held to maturity 547,000 571,000
Available for sale (7,200,000) (344,000)
Held to maturity 0 (2,948,000)
Equity and other securities (294,000) (873,000)
Net increase in loans and leases (1,258,000) (1,645,000)
Net (increase) decrease in interest-bearing deposits at banks 3,277,000 (2,148,000)
Capital expenditures, net (101,000) (101,000)
Net decrease in loan servicing advances 153,000 286,000
Other, net (384,000) (360,000)
Net cash used by investing activities (1,457,000) (6,650,000)
Cash flows from financing activities    
Net decrease in deposits (3,366,000) (1,455,000)
Net increase (decrease) in short-term borrowings (552,000) 4,353,000
Proceeds from long-term borrowings 3,357,000 3,486,000
Payments on long-term borrowings (162,000) 0
Purchases of treasury stock 0 (594,000)
Dividends paid — common (446,000) (436,000)
Dividends paid — preferred (58,000) (50,000)
Proceeds from issuance of Series J preferred stock 733,000 0
Other, net 36,000 (11,000)
Net cash provided (used) by financing activities (458,000) 5,293,000
Net increase in cash, cash equivalents and restricted cash 47,000 328,000
Cash, cash equivalents and restricted cash at beginning of period 1,731,000 1,520,000
Cash, cash equivalents and restricted cash at end of period 1,778,000 1,848,000
Supplemental disclosure of cash flow information    
Interest received during the period 5,547,000 4,814,000
Interest paid during the period 2,115,000 923,000
Income taxes paid during the period 106,000 329,000
Supplemental schedule of noncash investing and financing activities    
Real estate acquired in settlement of loans 23,000 12,000
Additions to right-of-use assets under operating leases $ 43,000 $ 69,000