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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 1,907,000 $ 2,259,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 470,000 420,000
Depreciation and amortization of premises and equipment 235,000 227,000
Amortization of capitalized servicing rights 104,000 94,000
Amortization of core deposit and other intangible assets 40,000 47,000
Provision for deferred income taxes (13,000) (40,000)
Asset write-downs 7,000 3,000
Net gain on sales of assets (3,000) (244,000)
Net change in accrued interest receivable, payable (149,000) 232,000
Net change in other accrued income and expense 166,000 208,000
Net change in loans originated for sale (544,000) (257,000)
Net change in trading account and other non-hedging derivative assets and liabilities (286,000) 156,000
Net cash provided by operating activities 1,934,000 3,105,000
Cash flows from investing activities    
Available for sale 58,000 0
Equity and other securities 436,000 809,000
Available for sale 5,255,000 513,000
Held to maturity 844,000 924,000
Available for sale (11,156,000) (344,000)
Held to maturity 0 (2,948,000)
Equity and other securities (398,000) (1,049,000)
Net increase in loans and leases (1,740,000) (850,000)
Net (increase) decrease in interest-bearing deposits at banks 3,652,000 (5,156,000)
Capital expenditures, net (131,000) (168,000)
Net decrease in loan servicing advances 186,000 305,000
Other, net 151,000 (593,000)
Net cash used by investing activities (2,843,000) (8,557,000)
Cash flows from financing activities    
Net increase in deposits 1,277,000 608,000
Net increase (decrease) in short-term borrowings (2,711,000) 3,176,000
Proceeds from long-term borrowings 4,003,000 4,032,000
Payments on long-term borrowings (678,000) (781,000)
Proceeds from issuance of Series J preferred stock 733,000 0
Redemption of Series E preferred stock (350,000) 0
Purchases of treasury stock (198,000) (594,000)
Dividends paid — common (671,000) (652,000)
Dividends paid — preferred (107,000) (83,000)
Other, net 96,000 (5,000)
Net cash provided by financing activities 1,394,000 5,701,000
Net increase in cash, cash equivalents and restricted cash 485,000 249,000
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 2,216,000 1,769,000
Supplemental disclosure of cash flow information    
Interest received during the period 8,323,000 7,429,000
Interest paid during the period 3,294,000 1,779,000
Income taxes paid during the period 240,000 431,000
Supplemental schedule of noncash investing and financing activities    
Real estate acquired in settlement of loans 30,000 17,000
Additions to right-of-use assets under operating leases $ 62,000 $ 88,000