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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ 373,695 $ 563,780 $ 428,476
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 355,022 87,720 51,697
Depreciation, amortization, and accretion, net 106,107 8,079 55,172
Deferred income tax (benefit) expense (86,192) 86,633 36,215
Originations of loans held for sale (3,466,170) (872,105) (543,073)
Proceeds from sales of loans held for sale 2,936,398 816,223 565,672
Gain on sales of loans held for sale, net (67,115) (21,448) (12,291)
Increase in other assets (411,632) (127,636) (83,957)
Increase in other liabilities 281,866 43,066 22,202
Investment securities (gains) losses, net (78,931) 7,659 1,296
Share-based compensation expense 18,641 24,487 16,643
Other 55,343 4,592 0
Net cash provided by operating activities 17,032 621,050 538,052
Investing Activities      
Net cash received in business combination, net of cash paid 0 201,100 0
Proceeds from maturities and principal collections of investment securities available for sale 2,291,536 1,102,651 603,099
Proceeds from sales of investment securities available for sale 4,054,670 2,923,787 35,066
Purchases of investment securities available for sale (7,441,163) (4,300,021) (700,194)
Proceeds from sales of loans 1,426,954 74,123 22,915
Purchases of loans (126,152) (667,954) (265,934)
Net increase in loans (2,461,302) (1,361,693) (969,326)
Net purchases of Federal Reserve Bank stock (658) (55,335) (25,500)
Net redemptions (purchases) of Federal Home Loan Bank stock (129,710) 45,856 282
Net (purchases) proceeds from settlement of bank-owned life insurance policies (242,300) 16,637 2,412
Net increase in premises, equipment and software (30,102) (61,208) (53,159)
Other 45,834 19,907 12,854
Net cash used in investing activities (2,352,973) (2,153,862) (1,338,049)
Financing Activities      
Net increase in deposits 8,284,519 797,612 571,897
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements 62,232 (101,142) 76,502
Net (decrease) increase in other short-term borrowings (1,745,843) 1,103,560 550,000
Repayments and redemption of long-term debt (2,408,939) (157,226) (2,230,052)
Proceeds from issuance of long-term debt, net 1,445,492 497,045 2,280,000
Dividends paid to common shareholders (189,967) (167,923) (106,224)
Dividends paid to preferred shareholders (33,163) (17,741) (13,978)
Proceeds from issuance (redemption) of preferred stock, net 0 342,005 65,140
Issuances, net of taxes paid, under equity compensation plans 5,407 7,321 (6,365)
Repurchase of common stock (16,246) (725,398) (175,072)
Other (1,552) (1,947) (1,220)
Net cash provided by financing activities 5,401,940 1,576,166 1,010,628
Increase in cash, cash equivalents, and restricted cash 3,065,999 43,354 210,631
Cash, cash equivalents, and restricted cash at beginning of year 1,186,918 1,143,564 932,933
Cash, cash equivalents, and restricted cash at end of year 4,252,917 1,186,918 1,143,564
Supplemental Disclosures:      
Income taxes paid 110,828 101,781 41,008
Interest paid 319,282 464,712 180,241
Non-cash Activities:      
Common stock issued, treasury stock reissued, equity awards/warrants exchanged to acquire FCB 0 1,625,688 0
Loans foreclosed and transferred to other real estate 2,163 19,423 13,168
Loans transferred to loans held for sale at fair value 49,821 72,707 12,568
Dividends declared on common stock during the year but paid after year-end 48,834 44,143 28,966
Dividends declared on preferred stock during the year but paid after year-end $ 5,141 $ 5,141 $ 0