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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 177,106 $ 334,570
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization/accretion of premium/discount on securities 27,648 29,913
Depreciation, amortization and accretion 47,601 40,284
Provision for credit losses 64,656 50,456
Gain on mortgage loans sold, net (6,149) (3,620)
Investment losses on sales, net 72,103 9,961
Gain on other equity investments, net 6,148 3,674
Stock-based compensation expense 20,961 19,452
Deferred tax expense (benefit) (1,565) 2,496
Losses on dispositions of other real estate and other investments 63 82
Gain on sale of fixed assets (383) 85,859
Income from equity method investment (34,723) (46,003)
Dividends received from equity method investment 46,873 27,592
Excess tax benefit from stock compensation (2,515) (257)
Gain on commercial loans sold, net (369) (206)
Increase in other assets (83,051) (69,360)
Increase (decrease) in other liabilities 44,052 (14,974)
Net cash provided by operating activities 282,975 249,315
Activities in securities available-for-sale:    
Purchases (1,642,975) (260,201)
Sales 822,741 173,477
Maturities, prepayments and calls 108,049 77,729
Activities in securities held-to-maturity:    
Maturities, prepayments and calls 17,847 32,338
Proceeds from Securities Purchased under Agreements to Resell 486,106 6,041
Proceeds from Sale, Loan and Lease, Held-for-Investment [Abstract] 1,158,262 2,251,711
Proceeds from Sale, Loan and Lease, Held-for-Investment 20,470 117,216
Purchases of software, premises and equipment (44,204) (46,550)
Proceeds from sales of software, premises and equipment 684 198,228
Proceeds from sale of other real estate 1,672 5,749
Proceeds from bank owned life insurance settlements 4,160 0
Proceeds from Life Insurance Policy 141,308 0
Purchase of FHLB stock, net (38) (48,599)
Increase in other investments, net (73,637) (29,412)
Net cash used in investing activities (1,316,079) (2,025,695)
Financing activities:    
Net increase in deposits 1,230,586 2,761,440
Net increase (decrease) in securities sold under agreements to repurchase 11,396 (31,136)
Federal Home Loan Bank: Advances 450,000 3,425,000
Federal Home Loan Bank: Repayments/maturities (450,000) (1,675,000)
Principal payments of finance lease obligation (189) (148)
Issuance of common stock pursuant to RSA, RSU and PSU agreements, net of shares withheld for taxes (14,427) (3,645)
Exercise of common stock options, net of shares surrendered for taxes (4,584) (2,421)
Common stock dividends paid (34,514) (34,365)
Preferred stock dividends paid (7,596) (7,596)
Net cash provided by financing activities 1,180,672 4,432,129
Net increase in cash, cash equivalents, and restricted cash 147,568 2,655,749
Cash, cash equivalents, and restricted cash, beginning of period 2,230,349 1,177,382
Cash, cash equivalents, and restricted cash, end of period 2,377,917 3,833,131
Commercial Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (108,808) (223,275)
Loans held-for-sale sold 102,411 221,860
Consumer Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (1,113,306) (763,489)
Loans held-for-sale sold $ 1,036,518 $ 723,366