XML 28 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 650 $ 596 $ 511
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 133 3 62
Amortization of core deposit intangible 5    
Depreciation 18 21 24
Amortization of discounts and premiums, net (37) (5) 11
Net (gain) loss on securities 2   (2)
Net (gain) loss on sales of loans (5) (1)  
Net gain on sales of fixed assets (2)    
Gain on business acquisition (159)    
Stock-based compensation 29 31 29
Deferred tax expense (3) (13) 219
Changes in operating assets and liabilities:      
Decrease (increase) in other assets 348 (284) (411)
(Decrease) increase in other liabilities (100) (6) 9
Purchases of securities held for trading (75) (110) (15)
Proceeds from sales of securities held for trading 75 110 15
Change in loans held for sale, net 147 (52) (119)
Net cash provided by operating activities 1,026 290 334
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from repayment of securities available for sale 732 1,728 2,062
Proceeds from sales of securities available for sale 228   484
Purchase of securities available for sale (2,242) (1,796) (2,514)
Redemption of Federal Home Loan Bank stock 635 92 173
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock (839) (112) (239)
Proceeds from bank-owned life insurance, net 16 12 12
Proceeds from sales of loans   37 3
Purchases of loans (162) (161) (95)
Other changes in loans, net (5,019) (2,558) (912)
(Purchases) dispositions of premises and equipment, net (3) (4) 1
Cash acquired in business acquisition 331    
Net cash used in investing activities (6,323) (2,762) (1,025)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in deposits 7,662 2,622 780
Net increase in short-term borrowed funds 2,550 950 1,150
Proceeds from long-term borrowed funds 9,479 2,072 6,925
Repayments of long-term borrowed funds (13,960) (2,544) (6,550)
Net receipt of payments of loans serviced for others (189)    
Cash dividends paid on common stock (317) (316) (316)
Cash dividends paid on preferred stock (33) (33) (33)
Treasury stock repurchased (7)   (50)
Payments relating to treasury shares received for restricted stock award tax payments (17) (16) (9)
Net cash provided by financing activities 5,168 2,735 1,897
Net (decrease) increase in cash, cash equivalents, and restricted cash [1] (129) 263 1,206
Cash, cash equivalents, and restricted cash at beginning of year [1] 2,211 1,948 742
Cash, cash equivalents, and restricted cash at end of year [1] 2,082 2,211 1,948
Supplemental information:      
Cash paid for interest 657 402 633
Cash paid for income taxes 17 471 118
Non-cash investing and financing activities:      
Transfers to repossessed assets from loans   1 1
Securitization of residential mortgage loans to mortgage-backed securities available for sale 162 161 53
Transfer of loans from held for investment to held for sale   52  
Transfer of loans from held for sale to held for investment   94  
MSRs resulting from sale or securitization of loans 19    
Shares issued for restricted stock awards 33 $ 28 $ 22
Business Combination:      
Fair value of tangible assets acquired 24,449    
Intangible assets 292    
Mortgage Servicing Rights 1,012    
Liabilities assumed 23,584    
Common Stock issued in business combination $ 2,010    
[1] For further information on restricted cash, see Note 14 - Derivatives and Hedging Activities.