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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Mar. 31, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash Flow From Operating Activities                  
Net income $ 83,339 $ 86,686 $ 85,929 $ 69,456 $ 254,686 $ 244,578      
Adjustments to reconcile net income to net cash provided by operating activities                  
Provision for credit losses 2,000   (5,000)   16,000 (1,000)      
Depreciation and amortization         43,704 36,273      
Addition to (recovery of) valuation allowance on mortgage servicing rights, net         177 (669)      
Amortization of mortgage servicing rights         8,749 7,143      
Amortization of other intangible assets 2,686   2,233   7,237 5,926      
Amortization and accretion on earning assets, funding, and other, net         17,607 (425)      
Net amortization of tax credit investments         15,512 14,388      
Losses (gains) on sales of investment securities, net         (5,931) 1,985      
Asset (gains) losses, net [1] (877)   1,037   (2,316) (1,353)      
(Gain) loss on mortgage banking activities, net         (15,966) (4,519)      
Mortgage loans originated and acquired for sale         (824,289) (847,619)      
Proceeds from sales of mortgage loans held for sale         1,048,729 826,929      
Pension Contribution         0 (41,877)      
Changes in certain assets and liabilities                  
(Increase) decrease in interest receivable         2,476 (14,791)      
Increase (decrease) in interest payable         589 4,671      
Increase (decrease) in expense payable         (15,932) 41,938      
Increase (decrease) in cash collateral         (8,237) 37,272      
Increase (decrease) in net derivative position         (109,948) (21,428)      
Net change in other assets and other liabilities         37,138 15,321      
Net cash provided by (used in) operating activities         469,986 302,743      
Cash Flow From Investing Activities                  
Net increase in loans         (72,644) (322,589)      
Purchases of                  
Available for sale securities         (460,124) (737,580)      
Held to maturity securities         (322,590) (553,258)      
Federal Home Loan Bank and Federal Reserve Bank stocks         (214,554) (267,432)      
Premises, equipment, and software, net of disposals         (50,385) (42,941)      
Proceeds from                  
Sales of available for sale securities         1,367,450 601,130      
Sale of Federal Home Loan Bank and Federal Reserve Bank stocks         257,646 231,964      
Prepayments, calls, and maturities of available for sale investment securities         400,648 487,858      
Prepayments, calls, and maturities of held to maturity investment securities         168,378 168,125      
Sales, prepayments, calls, and maturities of other assets         6,674 22,132      
Net change in tax credit and alternative investments         (50,117) (30,579)      
Cash Acquired from Acquisition         551,250 59,472      
Net cash provided by (used in) investing activities         1,581,631 (383,698)      
Cash Flow From Financing Activities                  
Net increase (decrease) in deposits         (1,200,004) 204,700      
Net increase (decrease) in short-term funding         (48,630) (528,285)      
Net increase (decrease) in short-term FHLB advances         (685,000) 121,000      
Repayment of long-term FHLB advances         (763,036) (1,900,012)      
Proceeds from long-term FHLB advances         751,573 1,841,776      
Proceeds from issuance of long-term funding         0 300,000      
Proceeds from issuance of preferred shares     97,315   0 97,315      
Proceeds from issuance of common stock for stock-based compensation plans         9,070 17,393      
Purchase of preferred shares         0 (646)      
Purchase of common stock returned to authorized but unissued         0 (33,075)      
Purchase of treasury stock         (138,093) (124,380)      
Cash dividends on common stock         (83,248) (77,431)      
Cash dividends on preferred stock         (11,402) (7,077)      
Net cash provided by (used in) financing activities         (2,168,770) (88,722)      
Net increase (decrease) in cash, cash equivalents, and restricted cash         (117,154) (169,677)      
Cash, cash equivalents, and restricted cash at beginning of period   876,698   716,018 876,698 716,018 $ 716,018    
Cash, cash equivalents, and restricted cash at end of period 759,545   546,341   759,545 546,341 876,698    
Supplemental disclosures of cash flow information                  
Cash paid for interest         266,192 185,875      
Cash paid for (received from) income and franchise taxes         38,979 17,335      
Loans and bank premises transferred to OREO         7,734 20,781      
Capitalized mortgage servicing rights         8,900 7,826      
Loans transferred into held for sale from portfolio, net         326,476 56,550      
Acquisition                  
Fair value of assets acquired, including cash and cash equivalents               $ 695,848 $ 2,567,560
Fair value ascribed to goodwill and intangible assets               29,837 261,142
Fair value of liabilities assumed               725,764 2,340,294
Equity issued in (adjustments related to) acquisition         (79) 488,408      
Restricted Cash and Cash Equivalents                  
Cash and cash equivalents               562,798 457,728
Restricted cash               196,747 88,613
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 759,545 $ 876,698 $ 546,341 $ 716,018 $ 876,698 $ 716,018 $ 876,698 $ 759,545 $ 546,341
[1]
(b) The nine months ended September 30, 2019 include less than $1 million of Huntington related asset losses; the three months and nine months ended September 30, 2018 include approximately $1 million and $2 million of Bank Mutual acquisition related asset losses net of asset gains, respectively.