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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 436,395 $ 446,748
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 190,840 129,946
Goodwill impairment losses 0 23,000
Amortization of intangibles 2,233 2,385
Depreciation and amortization of premises and equipment 46,720 43,180
Net accretion of discounts and amortization of premiums and deferred fees (196,221) (22,495)
Interest capitalized on loans subject to the temporary payment moratorium or loss mitigation alternatives (5,933) (7,956)
Share-based compensation 17,853 15,079
Fair value adjustments on mortgage servicing rights 10,280 11,135
Adjustments to indemnity reserves on loans sold (783) 31
Earnings from investments under the equity method, net of dividends or distributions (12,723) (17,387)
Deferred income tax expense (benefit) 19,247 (13,539)
(Gain) loss on:    
Disposition of premises and equipment and other productive assets (7,651) (9,744)
Proceeds from insurance claims 0 (145)
Sale of loans, including valuation adjustments on loans held-for-sale and mortgage banking activities (396) 177
Sale of foreclosed assets, including write-downs (13,590) (18,137)
Acquisitions of loans held-for-sale (5,810) (6,678)
Proceeds from sale of loans held-for-sale 28,697 35,286
Net originations on loans held-for-sale (31,284) (60,285)
Net decrease (increase) in:    
Trading debt securities 10,445 29,415
Equity securities (7,337) (7,481)
Accrued income receivable 6,032 (17,638)
Other assets 15,425 (981)
Net (decrease) increase in:    
Interest payable (4,785) 8,009
Pension and other postretirement benefits obligation 5,937 11,985
Other liabilities (28,352) (100,887)
Total adjustments 38,844 26,275
Net cash provided by operating activities 475,239 473,023
Cash flows from investing activities:    
Net decrease (increase) in money market investments 469,042 (775,597)
Purchases of investment securities:    
Available-for-sale (24,469,345) (12,665,449)
Held-to-maturity 0 (8,615)
Equity (2,370) (18,279)
Proceeds from calls, paydowns, maturities and redemptions of investment securities:    
Available-for-sale 24,670,995 13,138,765
Held-to-maturity 508,511 308,129
Proceeds from sale of investment securities:    
Equity 5,242 30,926
Net disbursements on loans (833,899) (1,609,387)
Proceeds from sale of loans 18,266 133,078
Acquisition of loan portfolios (510,556) (556,659)
Return of capital from equity method investments 279 249
Payments to acquire equity method investments (1,250) (1,500)
Acquisition of premises and equipment and other productive assets (153,085) (133,598)
Proceeds from insurance claims 0 145
Proceeds from sale of:    
Premises and equipment and other productive assets 5,570 6,620
Foreclosed assets 82,986 84,446
Net cash used in investing activities (209,614) (2,066,726)
Net increase (decrease) in:    
Deposits 46,924 2,085,956
Assets sold under agreements to repurchase (36,024) (55,538)
Other short-term borrowings 0 (365,000)
Payment of notes payable (69,570) (321,000)
Principal payments of finance leases (2,717) (3,557)
Proceeds from issuance of notes payable 0 437,411
Proceeds from issuance of common stock 5,271 4,716
Dividends paid (135,495) (119,715)
Net payments for repurchase of common stock (59,556) (414)
Payments related to tax witholding for share-based compensation (6,367) (4,077)
Net cash (used in) provided by financing activities (257,534) 1,658,782
Net increase in cash and due from banks, and restricted cash 8,091 65,079
Cash and due from banks and restricted cash at beginning of period 427,575 476,159
Cash and due from banks and restricted cash at end of period $ 435,666 $ 541,238