XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (228,105) $ 167,441
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,420 15,169
Provision for credit losses 553,691 26,131
(Gain) loss on other real estate and foreclosed assets 9,790 (1,093)
Gain on sale of securities (112)  
Deferred tax expense (benefit) (48,786) 24,573
Increase in cash surrender value of life insurance contracts (4,235) (6,896)
(Gain) Loss on disposal of other assets 19 (81)
Net (increase) decrease in loans held for sale (53,176) (7,998)
Net amortization of securities premium/discount 19,208 14,628
Amortization of intangible assets 10,514 10,185
Stock-based compensation expense 11,086 10,368
Net change in liability from variation margin collateral (113,616) (18,918)
Contribution to pension plan   (100,000)
Decrease in interest payable and other liabilities (4,493) (1,907)
Increase in other assets (86,813) (183)
Other, net (13,512) (2,613)
Net cash provided by operating activities 66,880 128,806
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of available for sale securities 124,122  
Proceeds from maturities of securities available for sale 385,125 125,154
Purchases of securities available for sale (582,655) (133,992)
Proceeds from maturities of securities held to maturity 124,037 191,553
Purchases of securities held to maturity (12,359) (154,498)
Net increase in short-term investments (649,965) (39,968)
Proceeds from sales of loans and leases 22,221 100,751
Net increase in loans (2,029,351) (278,834)
Purchase of life insurance contracts   (32,788)
Purchases of property and equipment (19,607) (22,718)
Proceeds from sale of property and equipment   202
Proceeds from sales of other real estate 7,678 6,134
Final cash settlement for acquisition of business   (1,112)
Other, net (10,361) (10,887)
Net cash used in investing activities (2,641,115) (251,003)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 3,518,693 85,857
Net increase (decrease) in short-term borrowings (959,997) 52,470
Proceeds from the issuance of long-term debt, net of issuance costs 166,812 11,649
Repayments of long-term debt (153) (151)
Dividends paid (47,817) (47,174)
Payroll tax remitted on net share settlement of equity awards (1,585) (845)
Proceeds from exercise of stock options   368
Proceeds from dividend reinvestment and stock purchase plans 2,018 1,803
Settlement of forward contract portion of accelerated share repurchase 12,110  
Repurchase of shares (12,716)  
Net cash provided by financing activities 2,677,365 103,977
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS 103,130 (18,220)
CASH AND DUE FROM BANKS, BEGINNING 432,104 383,372
CASH AND DUE FROM BANKS, ENDING 535,234 365,152
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 5,459 $ 6,070