XML 28 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net income $ 408,864 $ 220,621 $ 382,723
Adjustments to reconcile net income to net cash provided by operating activities:      
(Benefit) provision for credit losses (54,500) 137,750 37,800
Deferred tax expense (benefit) (4,998) (31,236) 927
Depreciation and amortization 35,913 36,616 37,507
Amortization of earning assets and funding premium/discount, net 133,069 75,929 49,731
Amortization of low-income housing tax credit investments 3,918 5,286 3,249
Amortization of mortgage servicing assets 5,593 6,562 7,318
Stock-based compensation 13,662 12,179 12,626
Gain on sale, net of write-down, on foreclosed and repossessed assets (744) (1,938) (729)
Loss (gain) on sale, net of write-down, on premises and equipment (1,236) 1,105 1,340
Net (gain) on sale of investment securities 0 (8) (29)
Increase in cash surrender value of life insurance policies (14,429) (14,561) (14,612)
Gain from life insurance policies (4,402) (1,219) (4,933)
Net (gain) on mortgage banking activities (5,912) (15,305) (4,031)
Net (gain) on sale of loans not originated for sale (3,862) (301) (667)
Proceeds from sale of loans held for sale 247,634 486,341 216,239
Originations of loans held for sale (235,066) (449,803) (240,305)
Net decrease (increase) in derivative contract assets net of liabilities 173,506 (118,336) (123,752)
Net (increase) decrease in accrued interest receivable and other assets (69,263) 11,120 (35,774)
Net (decrease) increase in accrued expenses and other liabilities 38,064 (8,121) (23,257)
Net cash provided by operating activities 688,592 380,549 303,850
Investing Activities:      
Purchases of available-for-sale securities (1,957,562) (990,904) (549,541)
Proceeds from maturities and principal payments of available-for-sale securities 935,621 627,577 556,283
Proceeds from sales of available-for-sale securities 0 8,963 70,087
Purchases of held-to-maturity securities (1,968,133) (1,297,535) (1,571,604)
Proceeds from maturities and principal payments of held-to-maturity securities 1,288,140 983,864 573,703
Net proceeds from (purchase of) Federal Home Loan Bank stock 5,758 71,452 240
Purchases of intercompany debt securities (11,361) (12,244) (6,065)
Net (increase) in loans (773,443) (1,681,947) (1,642,501)
Proceeds from loans not originated for sale 82,187 9,197 20,931
Proceeds from life insurance policies 5,074 1,885 12,866
Proceeds from the sale of foreclosed properties and repossessed assets 1,998 11,497 11,562
Proceeds from the sale of premises and equipment 3,221 866 0
Additions to premises and equipment (16,589) (21,280) (25,717)
Net cash provided by (used for) investing activities (2,405,089) (2,288,609) (2,549,756)
Financing Activities:      
Net increase in deposits 2,511,163 4,006,319 1,465,377
Proceeds from Federal Home Loan Bank advances 180,470 3,850,000 9,200,000
Repayments of Federal Home Loan Bank advances (302,637) (5,665,312) (9,078,332)
Net (decrease) increase in securities sold under agreements to repurchase and other borrowings (320,459) (45,076) 458,557
Proceeds from the issuance of long-term debt 0 0 300,000
Debt issuance costs 0 0 (3,642)
Dividends paid to common shareholders (144,807) (144,965) (140,783)
Dividends paid to preferred shareholders (7,875) (7,875) (7,875)
Exercise of stock options 3,492 240 619
Common stock repurchased 0 (76,556) (13,003)
Common shares acquired related to stock compensation plan activity (4,384) (3,506) (6,616)
Net cash (used for) provided by financing activities 1,914,963 1,913,269 2,174,302
Net (decrease) increase in cash and cash equivalents 198,466 5,209 (71,604)
Cash and cash equivalents at beginning of year 263,104 257,895 329,499
Cash and cash equivalents at end of year 461,570 263,104 257,895
Supplemental disclosure of cash flow information:      
Interest paid 42,151 118,123 197,200
Income taxes paid 112,587 94,072 110,057
Noncash investing and financing activities:      
Transfer of loans and leases to foreclosed properties and repossessed assets 1,757 5,394 10,440
Transfer of loans from portfolio to loans held for sale 78,316 8,578 16,609
Deposits assumed 0 4,657 0
Operating Lease, Right-of-Use Asset 119,926 127,481 157,234
Operating Lease, Liability 144,804 158,280 178,802
Increase (Decrease) in Leasing Receivables $ (22,781) $ (27,868) $ (2,479)