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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Net income $ 234,083 $ 147,825
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 63 207,172
Deferred tax expense (benefit) 5,188 (51,933)
Accretion of loan discounts (6,577) (7,680)
Securities premium amortization (discount accretion), net 60,434 62,177
Net (gain) loss on securities transactions 0 (108,989)
Depreciation and amortization 34,060 31,489
Net (gain) loss on sale/write-down of assets/foreclosed assets (1,876) (139)
Stock-based compensation 5,771 5,784
Net tax benefit from stock-based compensation 4,218 556
Earnings on life insurance policies (1,343) (1,935)
Net change in:    
Trading account securities 319 (197)
Lease right-of-use assets 11,697 11,491
Accrued interest receivable and other assets (39,195) (131,772)
Accrued interest payable and other liabilities 41,748 43,111
Net cash from operating activities 348,590 206,960
Investing Activities:    
Securities held-to-maturity - Purchases 0 (1,500)
Securities held to maturity: Maturities, calls and principal repayments 122,416 51,232
Securities available for sale:    
Purchases (801,167) (3,739,598)
Sales 0 1,162,352
Maturities, calls and principal repayments 576,763 3,791,908
Net change in loans 884,799 (3,293,619)
Benefits received on life insurance policies 1,509 0
Proceeds from sales of premises and equipment 6,436 3,054
Purchases of premises and equipment (28,053) (52,036)
Proceeds from sales of repossessed properties 100 8
Net cash from investing activities 762,803 (2,078,199)
Financing Activities:    
Net change in deposits 3,718,379 5,039,532
Net change in short-term borrowings 126,592 (105,958)
Proceeds from Federal Home Loan Bank advances 0 1,250,000
Principal payments on Federal Home Loan Bank advances 0 (1,250,000)
Redemption of Series A preferred stock 0 (150,000)
Proceeds from stock option exercises 36,682 4,846
Purchase of treasury stock (1,288) (13,973)
Cash dividends paid on preferred stock (3,820) (2,016)
Cash dividends paid on common stock (92,396) (89,805)
Net cash from financing activities 3,784,149 4,682,626
Net change in cash and cash equivalents 4,895,542 2,811,387
Cash and cash equivalent at beginning of period 10,288,853 3,788,181
Cash and cash equivalents at end of period $ 15,184,395 $ 6,599,568