Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 1,186,000 $ 712,000 $ 693,000
Adjustments to reconcile net income to net cash provided by (used for) operating activities:      
Impairment of goodwill 0    
Provision for credit losses 201,000 191,000 100,000
Depreciation and amortization 413,000 380,000 341,000
Share-based compensation expense 92,000 66,000 51,000
Deferred income tax expense 168,000 165,000 69,000
Net gains on sales of securities 0 2,000 3,000
Impairment losses recognized in earnings on available-for-sale securities 4,000 2,000 2,000
Net Change in:      
Trading account securities 47,000 (96,000) 5,000
Loans held for sale 12,000 (123,000) 54,000
Accrued income and other assets (420,000) (96,000) (234,000)
Accrued expense and other liabilities 233,000 4,000 (35,000)
Other, net 18,000 12,000 (10,000)
Net cash provided by (used in) operating activities 1,954,000 1,215,000 1,033,000
Investing activities      
Change in interest bearing deposits in banks 39,000 26,000 13,000
Cash paid for acquisition of a business, net of cash received 0 (133,000) (458,000)
Proceeds from:      
Maturities and calls of available-for-sale and other securities 1,946,000 2,113,000 1,908,000
Maturities and calls of held-to-maturity securities 1,054,000 1,212,000 595,000
Sales of available-for-sale securities 2,490,000 6,154,000 163,000
Purchases of available-for-sale securities (5,418,000) (10,888,000) (4,507,000)
Purchases of held-to-maturity securities (1,356,000) 0 (379,000)
Net proceeds from sales of portfolio loans 603,000 2,981,000 1,304,000
Net loan and lease activity, excluding sales and purchases (3,680,000) (3,951,000) (3,187,000)
Purchases of premises and equipment (194,000) (120,000) (93,000)
Proceeds from sales of other real estate 38,000 50,000 36,000
Purchases of loans and leases (405,000) (411,000) (334,000)
Cash Provided by (Used in) Investing Activities, Discontinued Operations 0 (480,000) 0
Other, net 17,000 2,000 10,000
Net cash provided by (used in) investing activities (4,866,000) (3,445,000) (4,929,000)
Financing activities      
Increase (decrease) in deposits 1,433,000 (292,000) 3,644,000
Increase (decrease) in short-term borrowings 1,371,000 1,900,000 (1,819,000)
Sale of deposits 0 0 (48,000)
Net proceeds from issuance of long-term debt 1,816,000 2,128,000 3,232,000
Maturity/redemption of long-term debt (948,000) (1,275,000) (1,037,000)
Dividends paid on preferred stock (76,000) (54,000) (32,000)
Dividends paid on common stock (349,000) (245,000) (193,000)
Repurchases of common stock (260,000) 0 (252,000)
Proceeds from stock options exercised 11,000 17,000 19,000
Net proceeds from issuance of preferred stock 0 585,000 0
Proceeds from issuance of manditorily reedemable preferred stock 75,000 0 0
Payments Related to Tax Withholding for Share-based Compensation (26,000) 0 0
Other, net 0 4,000 8,000
Net cash provided by (used) financing activities 3,047,000 2,768,000 3,522,000
Increase (decrease) in cash and cash equivalents 135,000 538,000 (374,000)
Cash and cash equivalents at beginning of period 1,385,000 847,000 1,221,000
Cash and cash equivalents at end of period 1,520,000 1,385,000 847,000
Supplemental disclosures:      
Interest paid 409,000 241,000 150,000
Income taxes paid 84,000 5,000 154,000
Non-cash activities:      
Common stock issued to acquire FirstMerit 0 2,767,000 0
Preferred stock issued to acquire FirstMerit 0 104,000 0
Loans transferred to held-for-sale from portfolio 660,000 3,437,000 1,727,000
Loans transferred to portfolio from held-for-sale 12,000 482,000 278,000
Transfer of loans to OREO 29,000 $ 79,000 25,000
Transfer of securities to held-to-maturity from available-for-sale $ 993,000   $ 3,000,000