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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 11,466 $ 1,098 $ 547
Adjustments to reconcile net income to cash provided by operating activities:      
Provision (benefit) for credit losses 1,375 645 (37)
Deferred tax (benefit) expense (165) 206 (8)
Depreciation, amortization, and accretion, net (57) 533 143
Stock based compensation expense 5 19 0
Realized loss (gain) on sale of investment securities available for sale, net 26 0 (33)
Fair value adjustment on marketable equity securities, net 11 3 (34)
Loss (gain) on sale of loans, net 2 (22) (33)
Gain on sale of operating lease equipment, net (20) (15) 0
Loss on sale of premises and equipment, net 0 5 0
Gain on other real estate owned, net (4) (14) (1)
Gain on acquisition (9,808) (431) 0
Gain on extinguishment of debt 0 (7) 0
Origination of loans held for sale (740) (499) (1,123)
Proceeds from sale of loans held for sale 693 562 1,036
Impairment of premises and equipment and other assets 70 0 0
Net change in other assets 206 484 (733)
Net change in other liabilities (379) 260 5
Other operating activities (21) (36) (13)
Net cash provided by (used in) operating activities 2,660 2,791 (284)
CASH FLOWS FROM INVESTING ACTIVITIES      
Net decrease (increase) in interest-earning deposits at banks 5,416 6,965 (4,767)
Purchase of marketable equity securities 0 0 (2)
Proceeds from sales of investments in marketable equity securities 0 0 30
Purchases of investment securities available for sale (12,839) (1,985) (6,375)
Proceeds from maturities of investment securities available for sale 2,084 1,237 2,455
Proceeds from sales of investment securities available for sale 495 2 1,367
Purchases of investment securities held to maturity (213) (755) (1,401)
Proceeds from maturities of investment securities held to maturity 545 835 809
Net increase in securities purchased under agreements to resell (473) 0 0
Net decrease (increase) in loans 6,057 (5,344) 423
Proceeds from sales of loans 317 245 0
Net increase (decrease) in credit balances of factoring clients 94 (538) 0
Purchases of operating lease equipment (1,023) (771) 0
Proceeds from sales of operating lease equipment 243 95 0
Purchases of premises and equipment (405) (155) (107)
Proceeds from sales of premises and equipment 0 13 1
Proceeds from sales of other real estate owned 19 48 41
Cash acquired, net of cash paid as consideration for acquisition 810 134 0
Proceeds from surrender of bank-owned life insurance policies 1,094 157 0
Other investing activities 208 (108) (42)
Net cash provided by (used in) investing activities 2,429 75 (7,568)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in time deposits 5,634 568 (406)
Net (decrease) increase in demand and other interest-bearing deposits (5,369) (2,259) 8,382
Net change in securities sold under customer repurchase agreements 39 (153) (52)
Repayment of short-term borrowings (2,250) (1,355) 0
Proceeds from issuance of short-term borrowings 500 3,105 0
Repayment of long-term borrowings (13,120) (5,099) (54)
Proceeds from issuance of long-term borrowings 9,991 3,854 0
Repurchase of Class A common stock 0 (1,240) 0
Cash dividends paid (117) (83) (42)
Other financing activities (7) (24) 0
Net cash (used in) provided by financing activities (4,699) (2,686) 7,828
Change in cash and due from banks 390 180 (24)
Cash and due from banks at beginning of period 518 338 362
Cash and due from banks at end of period 908 518 338
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Interest 3,686 525 62
Income taxes 514 (551) 870
Significant non-cash investing and financing activities:      
Transfers of loans to other real estate 20 14 14
Transfers of premises and equipment to other real estate 6 19 14
Transfer of investment securities available for sale (from) to held to maturity 0 0 452
Dividends declared but not paid 0 1 0
Transfer of assets from held for investment to held for sale 336 188 88
Transfer of assets from held for sale to held for investment 14 21 4
Loans held for sale exchanged for investment securities 0 38 231
Commitments extended during the period on affordable housing investment credits 224 110 15
Purchase Money Note as consideration for SVBB Acquisition 35,808 0 0
Common Stock | Issued for Acquisition      
Significant non-cash investing and financing activities:      
Issuance of stock 0 5,279 0
Common Stock | Issued for Stock Based Compensation      
Significant non-cash investing and financing activities:      
Issuance of stock 0 81 0
Preferred Stock | Issued for Acquisition      
Significant non-cash investing and financing activities:      
Issuance of stock $ 0 $ 541 $ 0