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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 213,141 $ 236,222
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,185 27,681
Stock-based compensation 13,420 10,690
Provision for credit losses 47,555 17,403
Net amortization of premiums and accretion of discounts on securities and borrowings 9,680 14,112
Amortization of other intangible assets 15,837 11,455
Losses (gains) on securities transactions, net 1,381 (476)
Proceeds from sales of loans held for sale 331,298 690,844
Gains on sales of loans, net (4,588) (13,574)
Originations of loans held for sale (210,048) (541,627)
Losses (gains) on sales of assets, net 265 (36)
Loss on extinguishment of debt 0 8,406
Net change in:    
Fair value of borrowings hedged by derivative transactions (20,194) 0
Trading debt securities 38,130 (21,216)
Cash surrender value of bank owned life insurance (4,159) (4,806)
Accrued interest receivable (12,083) 7,162
Other assets (205,964) 131,345
Accrued expenses and other liabilities 558,675 (119,331)
Net cash provided by operating activities 805,531 454,254
Cash flows from investing activities:    
Net loan originations and purchases (3,495,486) (264,512)
Equity securities:    
Purchases (1,538) (2,482)
Sales 1,110 649
Held to maturity debt securities:    
Purchases (545,934) (744,868)
Maturities, calls and principal repayments 294,052 372,397
Available for sale debt securities:    
Purchases (38,000) (87,366)
Sales 12,846 41,134
Maturities, calls and principal repayments 150,262 287,901
Death benefit proceeds from bank owned life insurance 3,089 3,850
Proceeds from sales of real estate property and equipment 7,265 2,747
Proceeds from sales of loans held for investment 0 4,498
Purchases of real estate property and equipment (35,164) (12,207)
Cash and cash equivalent acquired in acquisitions, net 321,540 0
Net cash used in investing activities (3,325,958) (398,259)
Cash flows from financing activities:    
Net change in deposits 1,218,642 1,259,172
Net change in short-term borrowings 763,284 (293,580)
Proceeds from issuance of long-term borrowings, net 0 295,934
Repayments of long-term borrowings 0 (710,595)
Cash dividends paid to preferred shareholders (6,344) (6,344)
Cash dividends paid to common shareholders (92,618) (90,201)
Purchase of common shares to treasury (23,886) (684)
Common stock issued, net 106 6,194
Other, net (365) (333)
Net cash provided by financing activities 1,858,819 459,563
Net change in cash and cash equivalents (661,608) 515,558
Cash and cash equivalents at beginning of year 2,049,920 1,329,205
Cash and cash equivalents at end of period 1,388,312 1,844,763
Supplemental disclosures of cash flow information:    
Interest on deposits and borrowings 57,151 82,596
Federal and state income taxes 77,285 117,562
Supplemental schedule of non-cash investing activities:    
Transfer of loans to other real estate owned 0 141
Lease right of use assets obtained in exchange for operating lease liabilities 24,745 1,993
Non-cash assets acquired:    
Equity securities 6,239 0
Investment securities available for sale 505,928 0
Investment securities held to maturity 806,627 0
Premises and equipment, net 5,844,070 0
Premises and equipment, net 38,827 0
Lease right of use assets 49,434 0
Bank owned life insurance 126,861 0
Accrued interest receivable 25,717 0
Goodwill 407,522 0
Other intangible assets, net 159,587 0
Other assets 158,352 0
Non-cash net assets acquired 8,129,164 0
Liabilities assumed:    
Deposits 7,029,997 0
Short-term borrowings 103,794 0
Lease liabilities 79,844 0
Accrued expenses and other liabilities 119,240 0
Total liabilities assumed 7,332,875 0
Non-cash net assets acquired 796,289 0
Net cash and cash equivalents acquired in acquisition 321,540 0
Common stock issued in acquisition $ 1,117,829 $ 0