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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net income/(loss) $ 217,147 $ 180,986
Adjustments to reconcile net income/(loss) to net cash provided/(used) by operating activities:    
Provision/(provision credit) for loan losses 22,000 (1,000)
Provision/(benefit) for deferred income taxes 60,943 38,030
Depreciation and amortization of premises and equipment 22,564 23,761
Amortization of intangible assets 12,422 12,934
Net other amortization and accretion (2,542) (8,945)
Net (increase)/decrease in derivatives (119,415) (13,735)
Fair value adjustment on interest-only strips 1,399 (1,296)
(Gains)/losses and write-downs on OREO, net (304) 167
Litigation and regulatory matters (8,330) 688
Stock-based compensation expense 10,656 11,453
Gain on sale and pay down of held-to-maturity loans (1,105) 0
Equity securities (gains)/losses, net (347) (65)
Debt securities (gains)/losses, net 267 (52)
Net (gains)/losses on sale/disposal of fixed assets 19,182 (1,614)
(Gain)/loss on BOLI (2,578) (2,250)
Loans held-for-sale:    
Purchases and originations (1,003,375) (1,132,675)
Gross proceeds from settlements and sales [1] 361,895 524,195
(Gain)/loss due to fair value adjustments and other 36,138 (8,119)
Net (increase)/decrease in:    
Trading securities 581,187 366,476
Fixed income receivables (108,713) 545
Interest receivable (6,120) (9,721)
Other assets 7,394 33,626
Net increase/(decrease) in:    
Trading liabilities 222,967 105,206
Fixed income payables 56,797 (34,257)
Interest payable 12,435 3,773
Other liabilities (45,278) (44,228)
Total adjustments 130,139 (137,103)
Net cash provided/(used) by operating activities 347,286 43,883
Available-for-sale securities:    
Sales 171,423 13,104
Maturities 339,315 320,631
Purchases (144,534) (254,992)
Premises and equipment:    
Sales 8,157 6,566
Purchases (12,487) (25,050)
Proceeds from sales of OREO 9,651 17,513
Proceeds from sale and pay down of loans classified as held-to-maturity 20,100 0
Proceeds from BOLI 8,945 7,630
Net (increase)/decrease in:    
Loans (2,183,862) (18,465)
Interests retained from securitizations classified as trading securities 298 567
Interest-bearing cash 684,431 434,966
Cash paid related to divestitures 0 (27,599)
Cash paid/(received) for acquisitions, net 0 (46,017)
Net cash provided/(used) by investing activities (1,098,563) 428,854
Common stock:    
Stock options exercised 3,464 4,420
Cash dividends paid (83,711) (60,752)
Repurchase of shares [2] (105,658) (4,790)
Cash dividends paid - preferred stock - noncontrolling interest (5,703) (5,703)
Cash dividends paid - Series A preferred stock (3,100) (3,100)
Term borrowings:    
Payments/maturities (1,180) (5,221)
Increases in restricted and secured term borrowings 4,481 20,965
Net increase/(decrease) in:    
Deposits (374,675) 387,394
Short-term borrowings 1,161,739  
Short-term borrowings   (780,976)
Net cash provided/(used) by financing activities 595,657 (447,763)
Net increase/(decrease) in cash and cash equivalents (155,620) 24,974
Cash and cash equivalents at beginning of period 1,405,325 1,452,046
Cash and cash equivalents at end of period 1,249,705 1,477,020
Supplemental Disclosures    
Total interest paid 200,625 133,791
Total taxes paid 14,842 12,497
Total taxes refunded 27,742 830
Transfer from loans to OREO 3,343 4,010
Transfer from loans HFS to trading securities $ 802,259 $ 600,168
[1] 2018 includes $107.4 million related to the sale of approximately $120 million UPB of subprime auto loans. See Note 2- Acquisitions and Divestitures for additional information.
[2] 2019 includes $101.7 million repurchased under share repurchase programs.