XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net income $ 301,636 $ 87,399
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 18,386 17,742
Amortization of other intangible assets 12,246 11,981
Amortization of tax credit investments 5,523 3,041
Net premium amortization on investment securities 7,061 9,413
Accretion income related to acquired loans (11,485) (44,083)
Share-based compensation expense 17,989 14,097
Provision for credit losses 28,224 117,901
Debt securities (gains) losses, net 5,199 (257)
Net (gains) losses on sales of loans and other assets (45) (4,010)
Increase in cash surrender value of company-owned life insurance (7,884) (8,095)
Residential real estate loans originated for sale (225,753) (364,018)
Proceeds from sales of residential real estate loans 218,253 395,829
(Increase) decrease in interest receivable (14,677) (19,468)
(Increase) decrease in other assets (38,540) 127,991
Increase (decrease) in accrued expenses and other liabilities (101,417) 93,369
Net cash flows provided by (used in) operating activities 214,716 438,832
Cash Flows From Investing Activities    
Cash received from merger, net 0 1,912,629
Purchases of investment securities available-for-sale (174,657) (1,276,205)
Purchases of investment securities held-to-maturity (1,941) (117,141)
Purchases of Federal Home Loan Bank/Federal Reserve Bank stock (99,159) (97,359)
Purchases of equity securities (20,820) (1,417)
Proceeds from maturities, prepayments, and calls of investment securities available-for-sale 333,937 659,922
Proceeds from sales of investment securities available-for-sale 51,654 12,742
Proceeds from maturities, prepayments, and calls of investment securities held-to-maturity 45,193 30,744
Proceeds from sales of Federal Home Loan Bank/Federal Reserve Bank stock 1 83,947
Proceeds from sales of equity securities 1,726 49,709
Loan originations and payments, net (1,708,291) (1,524,289)
Proceeds from sales of commercial loans 291,368 0
Proceeds from company-owned life insurance death benefits 4,888 2,849
Proceeds from sales of premises and equipment and other assets 2,369 2,751
Purchases of premises and equipment and other assets (17,410) (17,459)
Net cash flows provided by (used in) investing activities (1,291,142) (278,577)
Net increase (decrease) in:    
Deposits 1,230,485 (279,624)
Federal funds purchased and interbank borrowings (445,429) 1,285
Securities sold under agreements to repurchase (121,357) (51,296)
Other borrowings 65,719 53,136
Payments for maturities of Federal Home Loan Bank advances (1,650,150) (1,100,005)
Proceeds from Federal Home Loan Bank advances 2,600,000 1,350,000
Cash dividends paid (90,087) (87,733)
Common stock repurchased (43,815) (70,400)
Common stock issued 534 327
Net cash flows provided by (used in) financing activities 1,545,900 (184,310)
Net increase (decrease) in cash and cash equivalents 469,474 (24,055)
Cash and cash equivalents at beginning of period 728,412 822,019
Cash and cash equivalents at end of period 1,197,886 797,964
Supplemental cash flow information:    
Total interest paid 253,542 30,904
Total income taxes paid (net of refunds) 87,668 (183)
Issuance of common stock 0 2,446,312
Securities transferred from available-for-sale to held-to-maturity 0 2,986,736
Operating lease right-of-use assets obtained in exchange for lease obligations 7,542 3,141
Finance lease right-of-use assets obtained in exchange for lease obligations 9,141 209
Preferred Stock    
Supplemental cash flow information:    
Issuance of common stock $ 0 $ 243,870