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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities:    
Net income $ 147,825 $ 228,082
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 207,172 17,403
Deferred tax expense (benefit) (51,933) (675)
Accretion of loan discounts (7,680) (7,325)
Securities premium amortization (discount accretion), net 62,177 56,726
Net (gain) loss on securities transactions (108,989) (169)
Depreciation and amortization 31,489 25,705
Net (gain) loss on sale/write-down of assets/foreclosed assets (139) (5,135)
Stock-based compensation 5,784 8,018
Net tax benefit from stock-based compensation 556 1,131
Earnings on life insurance policies (1,935) (1,830)
Net change in:    
Trading account securities (197) (1,068)
Lease right-of-use assets 11,491 9,167
Accrued interest receivable and other assets (131,772) (18,107)
Accrued interest payable and other liabilities 43,111 (20,008)
Net cash from operating activities 206,960 291,915
Investing Activities:    
Securities held-to-maturity - Purchases (1,500) 0
Securities held to maturity: Maturities, calls and principal repayments 51,232 60,077
Securities available for sale:    
Purchases (3,739,598) (4,555,448)
Sales 1,162,352 3,291,529
Maturities, calls and principal repayments 3,791,908 708,273
Proceeds from sale of loans 0 24,036
Net change in loans (3,293,619) (390,452)
Proceeds from sales of premises and equipment 3,054 4,677
Purchases of premises and equipment (52,036) (98,622)
Proceeds from sales of repossessed properties 8 5
Net cash from investing activities (2,078,199) (955,925)
Financing Activities:    
Net change in deposits 5,039,532 (1,164,181)
Net change in short-term borrowings (105,958) (48,041)
Proceeds from Federal Home Loan Bank advances 1,250,000 0
Principal payments on Federal Home Loan Bank advances (1,250,000) 0
Redemption of preferred stock (150,000) 0
Proceeds from stock option exercises 4,846 7,841
Purchase of treasury stock (13,973) (50,519)
Cash dividends paid on preferred stock (2,016) (4,031)
Cash dividends paid on common stock (89,805) (87,428)
Net cash from financing activities 4,682,626 (1,346,359)
Net change in cash and cash equivalents 2,811,387 (2,010,369)
Cash and cash equivalents at beginning of period 3,788,181 3,955,779
Cash and cash equivalents at end of period $ 6,599,568 $ 1,945,410