XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 285,243 $ 271,689
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 43,975 38,329
Stock-based compensation 12,001 11,504
Provision for credit losses 106,747 18,800
Net amortization of premiums and accretion of discounts on securities and borrowings 26,051 21,584
Amortization of other intangible assets 18,528 13,175
Losses on securities transactions, net 127 114
Proceeds from sales of loans held for sale 716,739 341,503
Gains on sales of loans, net (26,253) (13,700)
Net impairment losses on securities recognized in earnings 0 2,928
Originations of loans held for sale (829,252) (338,996)
Gains on sales of assets, net (716) (76,997)
Net change in:    
Cash surrender value of bank owned life insurance (7,661) (6,779)
Accrued interest receivable (30,421) (1,986)
Other assets (420,572) (264,228)
Accrued expenses and other liabilities 85,944 92,542
Net cash (used in) provided by operating activities (19,520) 109,482
Cash flows from investing activities:    
Net loan originations and purchases (2,686,137) (1,846,329)
Equity securities:    
Purchases (7,616) 0
Sales 27,867 0
Held to maturity debt securities:    
Purchases (381,606) (317,794)
Maturities, calls and principal repayments 532,151 281,961
Available for sale debt securities:    
Purchases (306,071) (19,892)
Maturities, calls and principal repayments 374,321 188,619
Death benefit proceeds from bank owned life insurance 14,062 6,354
Proceeds from sales of real estate property and equipment 16,136 107,132
Proceeds from sales of loans held for investment 30,020 302,951
Purchases of real estate property and equipment (20,715) (15,753)
Net cash used in investing activities (2,407,588) (1,312,751)
Cash flows from financing activities:    
Net change in deposits 2,002,145 1,093,148
Net change in short-term borrowings 337,446 (293,497)
Proceeds from issuance of long-term borrowings, net 838,388 850,000
Repayments of long-term borrowings (108,446) (255,000)
Cash dividends paid to preferred shareholders (9,516) (9,516)
Cash dividends paid to common shareholders (133,536) (110,037)
Purchase of common shares to treasury (4,972) (1,505)
Common stock issued, net 2,074 (351)
Other, net (451) (365)
Net cash provided by financing activities 2,923,132 1,272,877
Net change in cash and cash equivalents 496,024 69,608
Cash and cash equivalents at beginning of year 434,687 428,629
Cash and cash equivalents at end of period 930,711 498,237
Cash payments for:    
Interest on deposits and borrowings 229,987 312,663
Federal and state income taxes 108,302 106,296
Supplemental schedule of non-cash investing activities:    
Transfer of loans to other real estate owned 3,716 1,453
Transfer of loans to loans held for sale 30,020 302,951
Lease right of use assets obtained in exchange for operating lease liabilities $ 10,141 $ 306,471