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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net income $ 353,639 $ 355,497
Adjustments to reconcile net income to cash provided by operating activities:    
Provision (credit) for loan and lease losses 52,949 23,714
Deferred tax expense (benefit) 16,227 43,939
Net change in current taxes (38,878) (33,433)
Depreciation 81,169 77,024
Net (decrease) increase in accrued interest payable (7,620) 14,147
Net (increase) decrease in income earned not collected (28,025) (3,567)
Contribution to pension plans (100,000) (3,500)
Contribution to pension plans (54,972) (6,855)
Marketable equity securities gain (loss), net (10,461) (13,505)
Origination of loans held for sale (775,900) (518,894)
Origination of loans held for sale 743,508 490,261
Gain on sale of loans held for sale (25,728) (10,607)
Net writedowns/losses on other real estate 2,360 1,924
Net accretion of premiums and discounts 4,599 (24,769)
Amortization of intangible assets 18,589 17,934
Net change in mortgage servicing rights (1,332) (3,770)
Net change in other assets (6,394) 2,536
Net change in other liabilities (7,472) (8,916)
Net cash provided by operating activities 216,258 399,160
INVESTING ACTIVITIES    
Net increase in loans outstanding (3,876,578) (629,705)
Purchases of investment securities available for sale (7,608,380) (3,706,949)
Purchases of investment securities held to maturity (856,047) (223,353)
Purchases of marketable equity securities (333,126) (23,238)
Proceeds from maturities/calls of investment securities held to maturity 134,736 305,479
Proceeds from maturities/calls of investment securities available for sale 1,909,462 1,690,277
Proceeds from sales of investment securities available for sale 3,889,386 1,746,099
Proceeds from sales of marketable equity securities 332,762 12,739
Net increase in overnight investments (1,994,972) (150,006)
Proceeds from sales of portfolio loans 0 24,247
Repayment of FDIC Shared-Loss Payable (99,468) 0
Proceeds from sales of other real estate 19,683 18,892
Proceeds from sales of premises and equipment 46 128
Purchases of premises and equipment (98,490) (89,219)
Business acquisitions, net of cash acquired (59,999) (73,792)
Net cash used in investing activities (8,640,985) (1,098,401)
FINANCING ACTIVITIES    
Net decrease in time deposits (759,491) 376,596
Net increase in demand and other interest-bearing deposits 8,556,808 701,426
Net decrease in short-term borrowings (44,344) (138,741)
Repayments of Other Long-term Debt (82,747) (43,545)
Origination of long-term obligations 400,000 100,000
Proceeds from Debt, Net of Issuance Costs 345,849 0
Proceeds from issuance of preferred stock, net of issuance costs 339,937  
Proceeds from Issuance of Preferred Stock and Preference Stock 345,000 0
Repurchase of common stock (333,755) (321,263)
Cash dividends paid (21,830) (13,739)
Net cash (used in) provided by financing activities 8,400,427 660,734
Change in cash and due from banks (24,300) (38,507)
Cash and due from banks at beginning of period 376,719 327,440
Cash and due from banks at end of period 352,419 288,933
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Transfers of loans to other real estate 10,295 13,242
Dividends declared but not paid 3,926 4,397
Net reclassification of portfolio loans (to) from loans held for sale (3,464) 22,758
Transfers of premises and equipment to other real estate 8,133 2,184
Unsettled common stock repurchases $ 0 $ 4,653