XML 24 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 253,922 $ 167,319 $ 205,104
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit loss 7,955 45,379 18,843
Specific reserve, other real estate owned 2,655 1,539 322
Depreciation of bank premises and equipment 25,028 28,318 28,270
Loss (gain) on sale of bank premises and equipment 601 (40) (237)
Gain on sale of other real estate owned (170) (892) (1,470)
Accretion of investment securities discounts (702) (500) (428)
Amortization of investment securities premiums 36,380 39,039 20,549
Investment securities transactions, net 16 5 12
Unrealized loss (gain) on equity securities with readily determinable fair values 123 (107) (158)
Proceeds from settlements of claims 2,870    
Stock based compensation expense 506 743 980
(Earnings) losses from affiliates and other investments (68,034) 74 (3,914)
Deferred income taxes 3,542 (3,122) 3,309
Decrease (increase) in accrued interest receivable 7,288 (1,261) 183
Decrease in other assets 25,220 42,571 8,043
(Decrease) increase in other liabilities (5,519) (13,932) 32,157
Net cash provided by operating activities 291,681 305,133 311,565
Investing activities:      
Proceeds from maturities of securities 1,200 1,075  
Proceeds from sales and calls of available for sale securities 5,890 42,350 94,585
Purchases of available for sale securities (2,856,135) (1,819,814) (893,301)
Principal collected on mortgage backed securities 1,612,679 2,058,626 882,479
Net decrease (increase) in loans 309,575 (647,213) (375,621)
Purchases of other investments (61,783) (44,447) (52,795)
Distributions from other investments 63,356 64,860 44,919
Purchases of bank premises and equipment (10,390) (6,725) (29,590)
Proceeds from sales of bank premises and equipment 11,446 904 1,861
Proceeds from sales of other real estate owned 8,273 6,679 9,405
Net cash used in investing activities (915,889) (343,705) (318,058)
Financing activities:      
Net increase in non-interest bearing demand deposits 1,122,712 1,169,909 91,065
Net increase (decrease) in savings and interest bearing demand deposits 738,043 584,676 (408)
Net increase in time deposits 35,262 141,241 38,832
Net increase in securities sold under repurchase agreements 11,524 191,612 6,547
Net decrease in other borrowed funds (189) (190,184) (79,154)
Redemption of long-term debt     (25,774)
Purchase of treasury stock (716) (48,878) (17,845)
Proceeds from stock transactions 2,414 542 1,923
Payments of cash dividends (72,838) (69,928) (68,670)
Net cash provided by (used in) financing activities 1,836,212 1,778,990 (53,484)
Increase (decrease) in cash and cash equivalents 1,212,004 1,740,418 (59,977)
Cash and cash equivalents at beginning of period 1,997,238 256,820 316,797
Cash and cash equivalents at end of period 3,209,242 1,997,238 256,820
Supplemental cash flow information:      
Interest paid 29,007 41,975 56,728
Income taxes paid 47,394 34,826 44,089
Non-cash investing and financing activities:      
Net transfers from loans to other real estate owned $ 16,388 4,526 22,015
Establishment of lease liability and right-of-use asset     $ 6,171
Net transfers from bank premises and equipment to other assets   $ 4,260