XML 20 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (148,749) $ 235,248
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,869 22,867
Provision for credit losses 578,690 38,552
Loss on other real estate and foreclosed assets 9,252 852
Gain on sale of securities (488)  
Deferred tax expense (benefit) (28,949) 30,136
Increase in cash surrender value of life insurance contracts (14,443) (10,792)
(Gain) loss on disposal of other assets (556) 70
Net increase in loans held for sale (46,691) (46,727)
Net amortization of securities premium/discount 30,576 23,133
Amortization of intangible assets 15,302 15,074
Stock-based compensation expense 16,661 15,497
Net change in liability from variation margin collateral (102,501) (42,500)
Contribution to pension plan   (100,000)
Increase (decrease) in interest payable and other liabilities 11,369 (1,632)
Increase in other assets (97,265) (10,631)
Other, net (17,607) (2,854)
Net cash provided by operating activities 227,470 166,293
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of available for sale securities 211,919 143,334
Proceeds from maturities of securities available for sale 662,269 204,391
Purchases of securities available for sale (1,667,476) (810,198)
Proceeds from maturities of securities held to maturity 169,863 297,150
Purchases of securities held to maturity (20,884) (183,626)
Net (increase) decrease in short-term investments (668,828) 383,970
Proceeds from sales of loans and leases 301,609 111,141
Net increase in loans (1,657,939) (353,971)
Purchase of life insurance contracts   (32,788)
Purchases of property and equipment (31,214) (33,746)
Proceeds from sales of other real estate 15,299 20,764
Cash acquired in stock-based business combination   28,060
Final cash settlement for acquisition of business   (1,112)
Other, net (4,412) (19,815)
Net cash used in investing activities (2,689,794) (246,446)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits 3,227,084 (229,964)
Net increase (decrease) in short-term borrowings (807,977) 452,691
Proceeds from the issuance of long-term debt, net of issuance costs 166,425 11,649
Repayments of long-term debt (230) (226)
Dividends paid (71,620) (70,771)
Payroll tax remitted on net share settlement of equity awards (1,639) (1,594)
Proceeds from exercise of stock options   367
Proceeds from dividend reinvestment and stock purchase plans 3,098 2,692
Settlement of forward contract portion of accelerated share repurchase 12,110  
Repurchase of shares (12,716)  
Net cash provided by financing activities 2,514,535 164,844
NET INCREASE IN CASH AND DUE FROM BANKS 52,211 84,691
CASH AND DUE FROM BANKS, BEGINNING 432,104 383,372
CASH AND DUE FROM BANKS, ENDING 484,315 468,063
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Value of stock-based consideration in business combination   193,849
Assets acquired in settlement of loans $ 5,459 $ 14,170