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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 236,222 $ 182,869
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 27,681 29,608
Stock-based compensation 10,690 8,199
Provision for credit losses 17,403 75,839
Net amortization of premiums and accretion of discounts on securities and borrowings 14,112 15,305
Amortization of other intangible assets 11,455 12,151
(Gains) losses on securities transactions, net (476) 81
Proceeds from sales of loans held for sale 690,844 408,785
Gains on sales of loans, net (13,574) (12,887)
Originations of loans held for sale (541,627) (443,684)
(Gains) losses on sales of assets, net (36) 178
Loss on extinguishment of debt 8,406 0
Net change in:    
Trading debt securities (21,216) 0
Cash surrender value of bank owned life insurance (4,806) (8,965)
Accrued interest receivable 7,162 (17,170)
Other assets 131,345 (426,776)
Accrued expenses and other liabilities (119,331) 166,490
Net cash provided by (used in) operating activities 454,254 (9,977)
Cash flows from investing activities:    
Net loan originations and purchases (264,512) (2,568,893)
Equity securities:    
Purchases (2,482) (5,365)
Sales 649 0
Held to maturity debt securities:    
Purchases (744,868) (107,136)
Maturities, calls and principal repayments 372,397 301,004
Available for sale debt securities:    
Purchases (87,366) (302,071)
Sales 41,134 0
Maturities, calls and principal repayments 287,901 213,348
Death benefit proceeds from bank owned life insurance 3,850 13,751
Proceeds from sales of real estate property and equipment 2,747 8,202
Proceeds from sales of loans held for investment 4,498 30,020
Purchases of real estate property and equipment (12,207) (14,469)
Net cash used in investing activities (398,259) (2,431,609)
Cash flows from financing activities:    
Net change in deposits 1,259,172 2,151,400
Net change in short-term borrowings (293,580) 989,600
Proceeds from issuance of long-term borrowings, net 295,934 838,388
Repayments of long-term borrowings (710,595) (53,418)
Cash dividends paid to preferred shareholders (6,344) (6,344)
Cash dividends paid to common shareholders (90,201) (89,122)
Purchase of common shares to treasury (684) (4,924)
Common stock issued, net 6,194 1,140
Other, net (333) (264)
Net cash provided by financing activities 459,563 3,826,456
Net change in cash and cash equivalents 515,558 1,384,870
Cash and cash equivalents at beginning of year 1,329,205 434,687
Cash and cash equivalents at end of period 1,844,763 1,819,557
Supplemental disclosures of cash flow information:    
Interest on deposits and borrowings 82,596 178,337
Federal and state income taxes 117,562 14,731
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 $ 1,993 $ 6,407