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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 115,710 $ 87,268
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,848 14,734
Stock-based compensation 5,465 3,684
Provision for credit losses 8,656 34,683
Net amortization of premiums and accretion of discounts on securities and borrowings 8,293 6,685
Amortization of other intangible assets 6,006 5,470
Losses on securities transactions, net 118 40
Proceeds from sales of loans held for sale 357,108 168,392
Gains on sales of loans, net (3,513) (4,550)
Originations of loans held for sale (287,765) (147,981)
Losses (gains) on sales of assets, net 196 (121)
Net change in:    
Cash surrender value of bank owned life insurance (2,331) (3,142)
Accrued interest receivable (1,560) (1,716)
Other assets 204,729 (401,849)
Accrued expenses and other liabilities (111,562) 122,426
Net cash provided by (used in) operating activities 313,398 (115,977)
Cash flows from investing activities:    
Net loan originations and purchases (475,142) (667,555)
Equity securities:    
Purchases (1,878) (5,214)
Sales 319 0
Held to maturity debt securities:    
Purchases (407,793) (103,192)
Maturities, calls and principal repayments 184,163 118,541
Available for sale debt securities:    
Purchases 0 (238,488)
Sales 41,134 0
Maturities, calls and principal repayments 164,235 88,688
Death benefit proceeds from bank owned life insurance 1,628 1,184
Proceeds from sales of real estate property and equipment 1,742 6,352
Proceeds from sales of loans held for investment 0 30,020
Purchases of real estate property and equipment (8,042) (9,235)
Net cash used in investing activities (499,634) (778,899)
Cash flows from financing activities:    
Net change in deposits 649,607 (200,035)
Net change in short-term borrowings (63,292) 1,002,375
Proceeds from issuance of long-term borrowings, net 0 725,242
Repayments of long-term borrowings (51,769) (42,128)
Cash dividends paid to preferred shareholders (3,172) (3,172)
Cash dividends paid to common shareholders (45,526) (44,682)
Purchase of common shares to treasury (542) (2,094)
Common stock issued, net 5,723 (1,358)
Other, net (165) (130)
Net cash provided by financing activities 490,864 1,434,018
Net change in cash and cash equivalents 304,628 539,142
Cash and cash equivalents at beginning of year 1,329,205 434,687
Cash and cash equivalents at end of period 1,633,833 973,829
Supplemental disclosures of cash flow information:    
Interest on deposits and borrowings 37,997 104,797
Federal and state income taxes 5,855 4,215
Supplemental schedule of non-cash investing activities:    
Transfer of loans to other real estate owned 141 2,750
Transfer of loans to loans held for sale 0 30,020
Lease right of use assets obtained in exchange for operating lease liabilities $ 21 $ 3,121