XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 334,570 $ 274,237
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization/accretion of premium/discount on securities 29,913 34,643
Depreciation, amortization and accretion 40,284 29,328
Provision for credit losses 50,456 15,627
Gain on mortgage loans sold, net (3,620) (6,216)
Investment losses on sales, net 9,961 61
Gain on other equity investments, net 3,674 8,379
Stock-based compensation expense 19,452 20,208
Deferred tax expense 2,496 2,807
Losses (gains) on dispositions of other real estate and other investments 82 (20)
Gain on sale of fixed assets (85,859) 198
Gain on remeasurement of previously held noncontrolling interest 0  
Income from equity method investment (46,003) (83,120)
Dividends received from equity method investment 27,592 40,762
Excess tax benefit from stock compensation (257) (2,921)
Gain on commercial loans sold, net (206) (1,679)
Decrease (increase) in other assets (69,360) 10,722
Decrease in other liabilities (14,974) (98,201)
Net cash provided by operating activities 249,315 200,179
Activities in securities available-for-sale:    
Purchases (260,201) (597,249)
Sales 173,477 2,866
Maturities, prepayments and calls 77,729 240,767
Activities in securities held-to-maturity:    
Purchases 0 (578,716)
Maturities, prepayments and calls 32,338 34,324
Proceeds from Securities Purchased under Agreements to Resell 6,041  
Net decrease (increase) in securities purchased under agreements to resell   (328,876)
Increase in loans, net (2,251,711) (2,899,140)
Proceeds from Sale, Loan and Lease, Held-for-Investment 117,216 0
Purchases of software, premises and equipment (46,550) (23,065)
Proceeds from sales of software, premises and equipment 198,228 292
Proceeds from sale of other real estate 5,749 320
Purchase of bank owned life insurance policies 0 (75,000)
Proceeds from bank owned life insurance settlements 0 1,002
Purchase of FHLB stock, net (48,599)  
Purchase of FHLB stock, net   (15,853)
Acquisition, net of cash acquired 0 30,415
Increase in other investments, net (29,412) (62,669)
Net cash used in investing activities (2,025,695) (4,331,412)
Financing activities:    
Net increase in deposits 2,761,440 1,295,442
Net increase (decrease) in securities sold under agreements to repurchase (31,136) 47,026
Federal Home Loan Bank: Advances 3,425,000 400,000
Federal Home Loan Bank: Repayments/maturities (1,675,000) 0
Repayments of other borrowings 0 (29,547)
Principal payments of finance lease obligation (148) (137)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes (3,645) (5,461)
Exercise of common stock options, net of shares surrendered for taxes (2,421) (4,079)
Common stock dividends paid (34,365) (34,041)
Preferred stock dividends paid (7,596) (7,596)
Net cash provided by financing activities 4,432,129 1,661,607
Net increase (decrease) in cash, cash equivalents, and restricted cash 2,655,749 (2,469,626)
Cash, cash equivalents, and restricted cash, beginning of period 1,177,382 4,101,539
Cash, cash equivalents, and restricted cash, end of period 3,833,131 1,631,913
Commercial Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (223,275) (274,755)
Loans held-for-sale sold 221,860 268,218
Consumer Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (763,489) (844,206)
Loans held-for-sale sold $ 723,366 $ 828,761