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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net income $ 612,175 $ 331,090
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 502,388 36,273
Provision (benefit) for deferred income taxes (82,444) 69,102
Depreciation and amortization of premises and equipment 36,818 33,142
Amortization of intangible assets 25,221 18,628
Net other amortization and accretion (18,048) 1,632
Net (increase) decrease in derivatives (325,430) (183,852)
Purchase accounting gain (532,150) 0
Stock-based compensation expense 22,587 16,478
Securities (gains) losses, net 2,638 (177)
Net (gains) losses on sale/disposal of fixed assets 7,194 20,453
(Gain) loss on BOLI (4,076) 0
Loans held for sale:    
Purchases and originations (2,780,401) (1,488,577)
Gross proceeds from settlements and sales 1,577,599 581,137
(Gain) loss due to fair value adjustments and other (42,781) (6,468)
Other operating activities, net 725,813 1,287,711
Total adjustments (885,072) 385,482
Net cash provided by (used in) operating activities (272,897) 716,572
Investing Activities    
Proceeds from sales of securities available for sale 249,404 182,824
Proceeds from maturities of securities available for sale 2,993,036 566,803
Purchases of securities available for sale (3,166,074) (357,182)
Proceeds from sales of premises and equipment 8,649 14,370
Purchases of premises and equipment (35,293) (28,769)
Proceeds from sale and pay down of loans classified as held to maturity 0 20,100
Proceeds from BOLI 8,228 10,085
Net increase in loans and leases (2,309,625) (3,779,972)
Net (increase) decrease in interest-bearing deposit with banks (3,012,954) 913,199
Cash received for acquisitions, net 1,805,546 0
Other investing activities, net 10,445 13,296
Net cash used in investing activities (3,448,638) (2,445,246)
Common stock:    
Stock options exercised 4,145 8,793
Cash dividends paid (138,942) (127,455)
Repurchase of shares (4,295) (134,041)
Cancellation of common shares (7,754) 0
Preferred stock issuance 144,665 0
Cash dividends paid - preferred stock - noncontrolling interest (8,586) (8,555)
Cash dividends paid - preferred stock (8,249) (4,650)
Net increase (decrease) in deposits 5,561,114 (738,333)
Net increase (decrease) in short-term borrowings (1,585,328) 2,814,279
Proceeds from Issuance of Other Long-term Debt 1,241,534 0
Repayments of Other Long-term Debt (1,070,122) (2,581)
Proceeds from (Repayments of) Secured Debt (5,427) 11,572
Net cash provided by financing activities 4,122,755 1,819,029
Net increase in cash and cash equivalents 401,220 90,355
Cash and cash equivalents at beginning of period 1,266,893 1,405,325
Cash and cash equivalents at end of period 1,668,113 1,495,680
Supplemental Disclosures    
Total interest paid 181,454 303,180
Total taxes paid 89,623 32,811
Total taxes refunded 543 27,742
Transfer from loans to OREO 1,987 6,309
Transfer from loans HFS to trading securities 1,083,418 1,024,274
Transfer from loans to loans HFS $ 4,283 $ 31,465