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Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income before noncontrolling interests $ 1,665,000 $ 855,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 75,000 258,000
Changes in fair values of equity warrant assets, net of proceeds from exercises (36,000) (4,000)
Changes in fair values of derivatives, net 5,000 (88,000)
Gains on investment securities, net (661,000) (271,000)
Distributions of earnings from non-marketable and other equity securities 166,000 65,000
Depreciation and amortization 106,000 74,000
Amortization of premiums and discounts on investment securities, net 294,000 55,000
Amortization of share-based compensation 93,000 61,000
Amortization of deferred loan fees (193,000) (123,000)
Deferred income tax expense (benefit) 73,000 (4,000)
Excess tax benefit from exercise of stock options and vesting of restricted shares (34,000) (3,000)
Losses from the write-off of premises and equipment and right-of-use assets 38,000 0
Changes in other assets and liabilities:    
Accrued interest receivable and payable, net (117,000) 15,000
Accounts receivable and payable, net 5,000 18,000
Income tax receivable and payable, net (141,000) (16,000)
Accrued compensation 89,000 (2,000)
Foreign exchange spot contracts, net 144,000 147,000
Proceeds from termination of interest rate swaps 0 228,000
Other, net (442,000) (212,000)
Net cash provided by operating activities 1,129,000 1,053,000
Cash flows from investing activities:    
Purchases of AFS securities (5,395,000) (16,615,000)
Sales proceeds 168,000 2,654,000
Proceeds from maturities and paydowns of AFS securities 3,892,000 2,634,000
Purchases of HTM securities (65,048,000) (1,757,000)
Proceeds from maturities and paydowns of HTM securities 8,993,000 2,833,000
Purchases of non-marketable and other equity securities (310,000) (164,000)
Proceeds from sales and distributions of capital of non-marketable and other securities 587,000 85,000
Net increase in loans (9,006,000) (5,193,000)
Purchases of premises and equipment (77,000) (65,000)
Business acquisitions 1,116,000 0
Net cash used for investing activities (65,080,000) (15,588,000)
Cash flows from financing activities:    
Net increase in deposits 60,216,000 23,015,000
Net increase in short-term borrowings 34,000 1,000
Proceeds from issuance of long-term debt 990,000 495,000
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests (70,000) (16,000)
Net proceeds from the issuance of preferred stock 1,724,000 0
Payment of preferred stock dividend (40,000) (12,000)
Common stock repurchases 0 (60,000)
Proceeds from issuance of common stock, ESPP and ESOP, net of restricted stock awards 2,362,000 18,000
Net cash provided by financing activities 65,216,000 23,441,000
Net increase in cash and cash equivalents 1,265,000 8,906,000
Cash and cash equivalents at beginning of period 17,675,000 6,782,000
Cash and cash equivalents at end of period 18,940,000 15,688,000
Cash paid during the period for:    
Interest 57,000 67,000
Income taxes 547,000 287,000
Noncash items during the period:    
Changes in unrealized gains and losses on AFS securities, net of tax (421,000) 393,000
Distributions of stock from investments 62,000 12,000
Transfers from AFS securities to HTM $ 8,953,000 $ 0