XML 25 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 479,451 $ 542,141 $ 757,902
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for (reversal of) credit losses 136,685 189,079 84,553
Depreciation, amortization, and accretion, net 60,408 93,458 69,172
Deferred income tax expense (benefit) 19,371 16,837 10,868
Originations of loans held for sale (6,179,459) (600,671) (3,352,235)
Proceeds from sales of loans held for sale 6,151,247 945,944 3,709,022
Gain on sales of loans held for sale, net (9,657) (9,700) (12,126)
(Increase) decrease in other assets (389,458) (285,823) (175,006)
Increase (decrease) in other liabilities 265,561 244,335 82,957
Investment securities (gains) losses, net 256,660 76,718 0
Share-based compensation expense 32,049 32,224 27,904
Loss on sales of loans 0 50,064 0
Net gain on sales of other real estate and other assets held for sale (1,828) (4,654) (12,199)
Other 0 (7,329) 677
Net cash provided by (used in) operating activities 821,030 1,282,623 1,191,489
Investing Activities      
Net cash received (paid) for business combination and divestiture 0 8,359 0
Proceeds from maturities and principal collections of investment securities held to maturity 187,046 0 0
Proceeds from maturities and principal collections of investment securities available for sale 614,733 937,967 1,973,990
Proceeds from sales of investment securities available for sale 1,365,923 1,301,520 0
Purchases of investment securities available for sale (2,640,980) (2,150,430) (2,287,318)
Net proceeds from sales of loans 37,453 1,651,154 69,784
Purchases of loans 0 (10,623) (514,475)
Net (increase) decrease in loans 615,363 (1,524,681) (3,987,133)
Net (purchases) redemptions of Federal Reserve Bank stock (12,655) (5,081) 15,151
Net (purchases) redemptions of Federal Home Loan Bank stock 33,225 128,458 (163,531)
Net (purchases) proceeds from settlement of bank-owned life insurance policies 6,496 8,773 9,271
Net increase in premises, equipment and software (56,152) (32,207) (30,105)
Proceeds from sales of other real estate and other assets held for sale 27,119 10,757 58,884
Net cash provided by (used in) investing activities 177,571 323,966 (4,855,482)
Financing Activities      
Net increase (decrease) in deposits 343,683 1,858,349 (531,490)
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements (57,346) 42,486 (117,545)
Net increase (decrease) in other short-term borrowings (3,496) (599,888) 603,184
Repayments and redemption of long-term debt (1,850,000) (5,404,731) (700,000)
Proceeds from long-term debt, net 1,646,791 3,220,912 3,622,892
Dividends paid to common shareholders (220,128) (216,061) (196,148)
Dividends paid to preferred shareholders (40,696) (35,950) (33,163)
Issuances, net of taxes paid, under equity compensation plans (2,505) 1,940 (2,823)
Repurchase of common stock (272,343) 0 (12,987)
Net cash provided by (used in) financing activities (456,040) (1,132,943) 2,631,920
Increase (decrease) in cash and cash equivalents including restricted cash 542,561 473,646 (1,032,073)
Cash, cash equivalents, and restricted cash at beginning of year 2,451,426 1,977,780 3,009,853
Cash, cash equivalents, and restricted cash at end of year 2,993,987 2,451,426 1,977,780
Supplemental Disclosures:      
Income taxes paid 47,268 69,753 175,680
Interest paid 1,467,099 1,112,905 242,040
Non-cash Activities:      
Loans foreclosed and transferred to other real estate 21,992 0 0
Investment securities transferred from available for sale to held to maturity 2,715,635 0 0
Settlement of acquired debt $ 0 $ 31,109 $ 0