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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities:    
Net income $ 116,015 $ 54,753
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 63 175,197
Deferred tax expense (benefit) 4,172 (26,089)
Accretion of loan discounts (3,425) (4,060)
Securities premium amortization (discount accretion), net 30,598 31,760
Net (gain) loss on securities transactions 0 (108,989)
Depreciation and amortization 16,941 15,518
Net (gain) loss on sale/write-down of assets/foreclosed assets (134) 397
Stock-based compensation 2,526 2,512
Net tax benefit from stock-based compensation 3,136 336
Earnings on life insurance policies (740) (922)
Net change in:    
Trading account securities (2,153) (12,819)
Lease right-of-use assets 5,889 5,620
Accrued interest receivable and other assets 73,164 (81,100)
Accrued interest payable and other liabilities (26,287) 196,814
Net cash from operating activities 219,765 248,928
Investing Activities:    
Securities held-to-maturity - Purchases 0 (1,500)
Securities held to maturity: Maturities, calls and principal repayments 120,029 41,526
Securities available for sale:    
Purchases (455,091) (687,759)
Sales 0 1,111,102
Maturities, calls and principal repayments 351,612 581,882
Proceeds from sale of loans 0 0
Net change in loans (406,836) (622,514)
Benefits received on life insurance policies 968 0
Proceeds from sales of premises and equipment 3 1
Purchases of premises and equipment (12,814) (31,749)
Proceeds from sales of repossessed properties 100 8
Net cash from investing activities (402,029) 390,997
Financing Activities:    
Net change in deposits 1,909,419 501,303
Net change in short-term borrowings (193,573) (524,364)
Redemption of Series A preferred stock 0 (150,000)
Proceeds from stock option exercises 29,397 1,463
Purchase of treasury stock (1,288) (13,973)
Cash dividends paid on preferred stock (2,151) (2,016)
Cash dividends paid on common stock (46,124) (44,934)
Net cash from financing activities 1,695,680 (232,521)
Net change in cash and cash equivalents 1,513,416 407,404
Cash and cash equivalent at beginning of period 10,288,853 3,788,181
Cash and cash equivalents at end of period $ 11,802,269 $ 4,195,585