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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net income $ 218,216 $ 234,083
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 0 63
Deferred tax expense (benefit) (2,404) 5,188
Accretion of loan discounts (6,581) (6,577)
Securities premium amortization (discount accretion), net 53,225 60,434
Net (gain) loss on securities transactions 0 0
Depreciation and amortization 35,406 34,060
Net (gain) loss on sale/write-down of assets/foreclosed assets 103 (1,876)
Stock-based compensation 5,530 5,771
Net tax benefit from stock-based compensation 1,645 4,218
Earnings on life insurance policies (1,016) (1,343)
Net change in:    
Trading account securities 482 319
Lease right-of-use assets 12,042 11,697
Accrued interest receivable and other assets (135,239) (39,195)
Accrued interest payable and other liabilities 113,645 41,748
Net cash from operating activities 295,054 348,590
Investing Activities:    
Securities held-to-maturity - Purchases (411,527) 0
Securities held to maturity: Maturities, calls and principal repayments 263,226 122,416
Securities available for sale:    
Purchases (4,778,475) (801,167)
Sales 0 0
Maturities, calls and principal repayments 382,152 576,763
Proceeds from sale of loans 2,365 0
Net change in loans (404,515) 884,799
Benefits received on life insurance policies 1,332 1,509
Proceeds from sales of premises and equipment 18 6,436
Purchases of premises and equipment (28,016) (28,053)
Proceeds from sales of repossessed properties 1,543 100
Net cash from investing activities (4,971,897) 762,803
Financing Activities:    
Net change in deposits 2,906,069 3,718,379
Net change in short-term borrowings (1,058,839) 126,592
Proceeds from stock option exercises 6,490 36,682
Purchase of treasury stock (996) (1,288)
Cash dividends paid on preferred stock (3,338) (3,820)
Cash dividends paid on common stock (96,958) (92,396)
Net cash from financing activities 1,752,428 3,784,149
Net change in cash and cash equivalents (2,924,415) 4,895,542
Cash and cash equivalents at beginning of period 16,583,000 10,288,853
Cash and cash equivalents at end of period $ 13,658,585 $ 15,184,395