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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities:    
Net income $ 427,690 $ 495,422
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 48,823 30,190
Deferred tax expense (benefit) (11,165) (3,047)
Accretion of loan discounts (16,265) (13,074)
Securities premium amortization (discount accretion), net 35,577 50,614
Net (gain) loss on securities transactions (16) (66)
Depreciation and amortization 61,413 56,257
Net (gain) loss on sale/write-down of assets/foreclosed assets (343) (194)
Stock-based compensation 10,020 12,646
Net tax benefit from stock-based compensation 1,280 583
Earnings on life insurance policies (2,785) (2,164)
Net change in:    
Trading account securities (620) (1,020)
Lease right-of-use assets 18,891 17,347
Accrued interest receivable and other assets 322,645 55,440
Accrued interest payable and other liabilities 30,085 (137,088)
Net cash from operating activities 925,230 561,846
Investing Activities:    
Securities held-to-maturity - Purchases 0 (1,147,624)
Securities held to maturity: Maturities, calls and principal repayments 46,757 154,465
Securities available for sale:    
Purchases (7,435,990) (13,445,382)
Sales 60,591 1,904,067
Maturities, calls and principal repayments 8,773,027 13,073,663
Proceeds from sale of loans 1,191 2,215
Net change in loans (1,244,886) (1,257,033)
Payments to Acquire Businesses, Net of Cash Acquired (703) 0
Benefits received on life insurance policies 1,063 1,000
Proceeds from sales of premises and equipment 17 1,282
Purchases of premises and equipment (90,129) (118,062)
Proceeds from sales of repossessed properties 2,590 583
Net cash from investing activities 113,528 (830,826)
Financing Activities:    
Net change in deposits (199,947) (2,961,961)
Net change in short-term borrowings (104,976) (964,096)
Proceeds from stock option exercises 15,484 3,042
Purchase of treasury stock (52,273) (40,496)
Cash dividends paid on preferred stock (5,006) (5,006)
Cash dividends paid on common stock (180,942) (172,552)
Net cash from financing activities (527,660) (4,141,069)
Net change in cash and cash equivalents 511,098 (4,410,049)
Cash and cash equivalents at beginning of period 8,687,276 12,028,132
Cash and cash equivalents at end of period $ 9,198,374 $ 7,618,083