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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net income $ 339,771 $ 218,216
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 19,005 0
Deferred tax expense (benefit) (2,489) (2,404)
Accretion of loan discounts (9,265) (6,581)
Securities premium amortization (discount accretion), net 36,919 53,225
Net (gain) loss on securities transactions (54) 0
Depreciation and amortization 37,076 35,406
Net (gain) loss on sale/write-down of assets/foreclosed assets (283) 103
Stock-based compensation 9,535 5,530
Net tax benefit from stock-based compensation 469 1,645
Earnings on life insurance policies (1,387) (1,016)
Net change in:    
Trading account securities 335 482
Lease right-of-use assets 11,193 12,042
Accrued interest receivable and other assets 59,051 (135,239)
Accrued interest payable and other liabilities (176,718) 113,645
Net cash from operating activities 323,158 295,054
Investing Activities:    
Securities held-to-maturity - Purchases (1,141,443) (411,527)
Securities held to maturity: Maturities, calls and principal repayments 92,547 263,226
Securities available for sale:    
Purchases (7,607,014) (4,778,475)
Sales 1,543,355 0
Maturities, calls and principal repayments 7,077,003 382,152
Proceeds from sale of loans 2,215 2,365
Net change in loans (602,902) (404,515)
Benefits received on life insurance policies 1,000 1,332
Proceeds from sales of premises and equipment 1,179 18
Purchases of premises and equipment (85,156) (28,016)
Proceeds from sales of repossessed properties 583 1,543
Net cash from investing activities (718,633) (4,971,897)
Financing Activities:    
Net change in deposits (3,253,366) 2,906,069
Net change in short-term borrowings (1,128,896) (1,058,839)
Proceeds from stock option exercises 2,446 6,490
Purchase of treasury stock (29,124) (996)
Cash dividends paid on preferred stock (3,338) (3,338)
Cash dividends paid on common stock (113,043) (96,958)
Net cash from financing activities (4,525,321) 1,752,428
Net change in cash and cash equivalents (4,920,796) (2,924,415)
Cash and cash equivalents at beginning of period 12,028,132 16,583,000
Cash and cash equivalents at end of period $ 7,107,336 $ 13,658,585