XML 23 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (45,174) $ 327,380 $ 323,770
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 30,128 30,902 26,532
Provision for credit losses 602,904 47,708 36,116
(Gain) loss on other real estate and foreclosed assets 9,581 626 (3,355)
Deferred tax expense (benefit) (20,716) 47,100 45,214
Increase in cash surrender value of life insurance contracts (19,244) (16,158) (7,850)
Gain on sale of Visa Class B common shares     (33,229)
(Gain) loss on sale of securities available for sale (488)   25,480
(Gain) loss on the sale of loans and leases (1,203) (619) 6,991
Loss on disposal of other assets 3,159 1,109 3,042
Net (increase) decrease in loans held for sale (77,544) (27,773) 11,986
Net amortization of securities premium/discount 43,226 32,166 33,161
Amortization of intangible assets 19,916 20,844 22,050
Stock-based compensation expense 21,107 20,902 19,793
Net change in liability from variation margin collateral (80,290) (21,326) (1,025)
Contribution to pension plan   (100,000) (39,000)
Increase (decrease) in interest payable and other liabilities 4,687 19,573 (8,372)
Increase in other assets (111,094) (22,556) (13,811)
Other, net (23,764) (7,929) 1,691
Net cash provided by operating activities 355,191 351,949 449,184
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sales of securities available for sale 211,919 268,413 455,162
Proceeds from maturities of securities available for sale 1,001,720 294,681 327,141
Purchases of securities available for sale (2,371,954) (1,010,805) (629,976)
Proceeds from maturities of securities held to maturity 218,205 417,520 359,312
Purchases of securities held to maturity (20,884) (183,626) (375,770)
Net (increase) decrease in short-term investments (1,223,557) 281,251 (18,710)
Proceeds from sale of loans and leases 328,958 112,048 166,462
Net increase in loans (1,296,136) (555,008) (1,358,077)
Purchase of life insurance contracts   (32,788) (1,822)
Proceeds from the sale of Visa Class B shares     42,858
Purchases of property and equipment (37,869) (42,716) (50,664)
Proceeds from sales of other real estate 17,923 30,658 17,214
Cash acquired in stock-based business combination   28,059  
Consideration (paid) received in business combination   (1,112) 141,769
Proceeds from the sale of business, net of cash sold     77,648
Other, net (5,797) (65,597) 551
Net cash used in investing activities (3,177,472) (459,022) (846,902)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in deposits 3,894,302 (627,557) 679,669
Net increase (decrease) in short-term borrowings (1,047,359) 1,058,748 (114,762)
Repayments of long-term debt (308) (14,222) (90,216)
Issuance of long-term debt, net of issuance costs 166,425 20,846 20,610
Dividends paid (95,605) (94,871) (88,838)
Payroll tax remitted on net share settlement of equity awards (4,530) (6,295) (8,695)
Cash (received) paid under accelerated share repurchase agreement 12,110 (185,000)  
Other repurchases of common stock 12,716   8,267
Proceeds from exercise of stock options   542 1,232
Proceeds from dividend reinvestment and stock purchase plan 4,164 3,614 3,409
Net cash provided by financing activities 2,916,483 155,805 394,142
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS 94,202 48,732 (3,576)
CASH AND DUE FROM BANKS, BEGINNING 432,104 383,372 386,948
CASH AND DUE FROM BANKS, ENDING 526,306 432,104 383,372
SUPPLEMENTAL INFORMATION      
Income taxes paid 17,465 28,288 7,283
Interest paid 121,343 232,456 175,382
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES      
Assets acquired in settlement of loans $ 6,420 $ 21,285 $ 22,393