XML 48 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 395,043 $ 422,417 $ 466,201
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 7,105 18,256 37,242
Depreciation 27,096 32,323 32,803
Amortization of discounts and premiums, net 7,951 (3,891) (4,555)
Amortization of core deposit intangibles     208
Net (gain) loss on securities (7,725) 14 (29,924)
Gain on trading activity (66) (222) (316)
Net loss (gain) on sales of loans 75 (111) (87,301)
Net gain on sales of fixed assets (7,402)    
Stock-based compensation 32,048 36,260 36,029
Deferred tax expense 100,813 23,197 21,444
Changes in operating assets and liabilities:      
(Increase) decrease in other assets (55,825) 29,952 451,873
Increase (decrease) in other liabilities 10,571 (53,320) 23,329
Purchases of securities held for trading (42,500) (141,615) (202,450)
Proceeds from sales of securities held for trading 42,566 141,837 202,766
Origination of loans held for sale     (1,674,123)
Proceeds from sales of loans originated for sale   35,258 2,053,484
Net cash provided by operating activities 509,750 540,355 1,326,710
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from repayment of securities held to maturity     175,375
Proceeds from repayment of securities available for sale 1,962,433 817,822 387,772
Proceeds from sales of securities held to maturity     547,925
Proceeds from sales of securities available for sale 361,311 278,539 453,878
Purchase of securities held to maturity     (13,030)
Purchase of securities available for sale (2,503,248) (3,288,204) (1,163,043)
Redemption of Federal Home Loan Bank stock 135,906 120,220 90,909
Purchases of Federal Home Loan Bank stock (138,878) (160,991) (103,794)
Purchases of (proceeds from) bank-owned life insurance, net (138,119) 16,303  
Proceeds from sales of loans 115,205 195,760 2,289,377
Purchases of loans (864,299)    
Other changes in loans, net (998,515) (1,990,068) (1,575,846)
Proceeds from sales (purchases) of premises and equipment, net 9,297 (9,847) (27,783)
Net cash provided by (used in) investing activities (2,058,907) (4,020,466) 1,061,740
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in deposits 892,702 1,662,267 214,260
Net increase (decrease) in short-term borrowed funds 1,100,000   (460,000)
Proceeds from long-term borrowed funds 4,785,812 5,667,268 3,000,000
Repayments of long-term borrowed funds (5,537,000) (4,373,500) (3,300,000)
Net proceeds from issuance of preferred stock     502,840
Cash dividends paid on common stock (317,394) (333,061) (332,147)
Cash dividends paid on preferred stock (32,828) (32,828) (24,621)
Treasury stock repurchased (67,125) (160,767)  
Payments relating to treasury shares received for restricted stock award tax payments (8,095) (2,482) (18,463)
Net cash provided by (used in) financing activities 816,072 2,426,897 (418,131)
Net (decrease) increase in cash, cash equivalents, and restricted cash (733,085) (1,053,214) 1,970,319
Cash, cash equivalents, and restricted cash at beginning of year 1,474,955 2,528,169 557,850
Cash, cash equivalents, and restricted cash at end of year 741,870 1,474,955 2,528,169
Supplemental information:      
Cash paid for interest 813,161 645,588 447,476
Cash paid for income taxes 75,680 44,123 217,682
Non-cash investing and financing activities:      
Transfers to repossessed assets from loans 4,689 5,631 9,973
Operating lease liabilities arising from obtaining right-of-use assets as of January 1, 2019 324,360    
Securitization of residential mortgage loans to mortgage-backed securities available for sale 93,531    
Transfer of loans from held for investment to held for sale 115,280 195,649 1,910,121
Disposition of premises and equipment 1,245    
Shares issued for restricted stock awards $ 16,501 $ 8,879 11,028
Securities transferred from held to maturity to available for sale     $ 3,040,305