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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net income $ 281,189 $ 339,771
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 29,437 19,005
Deferred tax expense (benefit) (7,713) (2,489)
Accretion of loan discounts (10,245) (9,265)
Securities premium amortization (discount accretion), net 24,786 36,919
Net (gain) loss on securities transactions 0 (54)
Depreciation and amortization 40,695 37,076
Net (gain) loss on sale/write-down of assets/foreclosed assets 110 (283)
Stock-based compensation 8,261 9,535
Net tax benefit from stock-based compensation 621 469
Earnings on life insurance policies (1,840) (1,387)
Net change in:    
Trading account securities (175) 335
Lease right-of-use assets 12,473 11,193
Accrued interest receivable and other assets 287,609 59,051
Accrued interest payable and other liabilities (47,195) (176,718)
Net cash from operating activities 618,013 323,158
Investing Activities:    
Securities held-to-maturity - Purchases 0 (1,141,443)
Securities held to maturity: Maturities, calls and principal repayments 31,325 92,547
Securities available for sale:    
Purchases (3,757,122) (7,607,014)
Sales 0 1,543,355
Maturities, calls and principal repayments 4,902,271 7,077,003
Proceeds from sale of loans 1,191 2,215
Net change in loans (1,179,526) (602,902)
Benefits received on life insurance policies 1,063 1,000
Proceeds from sales of premises and equipment 9 1,179
Purchases of premises and equipment (64,800) (85,156)
Proceeds from sales of repossessed properties 0 583
Net cash from investing activities (65,589) (718,633)
Financing Activities:    
Net change in deposits (1,602,428) (3,253,366)
Net change in short-term borrowings (342,521) (1,128,896)
Proceeds from stock option exercises 5,209 2,446
Purchase of treasury stock (32,226) (29,124)
Cash dividends paid on preferred stock (3,338) (3,338)
Cash dividends paid on common stock (119,612) (113,043)
Net cash from financing activities (2,094,916) (4,525,321)
Net change in cash and cash equivalents (1,542,492) (4,920,796)
Cash and cash equivalents at beginning of period 8,687,276 12,028,132
Cash and cash equivalents at end of period $ 7,144,784 $ 7,107,336