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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities:    
Net income $ 177,653 $ 99,102
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 9,104 0
Deferred tax expense (benefit) (1,809) (432)
Accretion of loan discounts (5,125) (2,945)
Securities premium amortization (discount accretion), net 20,520 27,654
Net (gain) loss on securities transactions (21) 0
Depreciation and amortization 18,472 17,551
Net (gain) loss on sale/write-down of assets/foreclosed assets (284) 130
Stock-based compensation 4,742 2,112
Net tax benefit from stock-based compensation 342 1,244
Earnings on life insurance policies (625) (533)
Net change in:    
Trading account securities 1,739 139
Lease right-of-use assets 4,952 5,970
Accrued interest receivable and other assets 132,345 (55,232)
Accrued interest payable and other liabilities (193,659) 238,065
Net cash from operating activities 168,346 332,825
Investing Activities:    
Securities held-to-maturity - Purchases (839,794) (31,545)
Securities held to maturity: Maturities, calls and principal repayments 67,311 111,211
Securities available for sale:    
Purchases (7,308,338) (3,356,279)
Sales 884,273 0
Maturities, calls and principal repayments 6,926,125 236,032
Net change in loans (334,708) (209,490)
Benefits received on life insurance policies 212 1,201
Proceeds from sales of premises and equipment 1,176 1
Purchases of premises and equipment (46,103) (12,374)
Proceeds from sales of repossessed properties 558 1,543
Net cash from investing activities (649,288) (3,259,700)
Financing Activities:    
Net change in deposits (1,770,041) 1,735,233
Net change in short-term borrowings (417,397) (888,906)
Proceeds from stock option exercises 1,500 5,739
Purchase of treasury stock (1,173) (996)
Cash dividends paid on preferred stock (1,669) (1,669)
Cash dividends paid on common stock (56,636) (48,443)
Net cash from financing activities (2,245,416) 800,958
Net change in cash and cash equivalents (2,726,358) (2,125,917)
Cash and cash equivalents at beginning of period 12,028,132 16,583,000
Cash and cash equivalents at end of period $ 9,301,774 $ 14,457,083