XML 22 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities    
Net income $ 144,659 $ 120,284
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 9,547 9,678
Amortization of other intangible assets 6,830 5,455
Amortization of tax credit investments 3,424 2,749
Net premium amortization on investment securities 2,633 1,133
Accretion income related to acquired loans (10,996) (3,612)
Share-based compensation expense 14,411 5,491
Provision for credit losses 31,403 18,891
Debt securities (gains) losses, net 76 16
Net (gains) losses on sales of loans and other assets (6,925) (1,245)
Increase in cash surrender value of company-owned life insurance (5,381) (3,434)
Residential real estate loans originated for sale (194,336) (112,818)
Proceeds from sales of residential real estate loans 200,115 112,552
(Increase) decrease in interest receivable 14,403 5,349
(Increase) decrease in other assets 25,981 14,135
Increase (decrease) in accrued expenses and other liabilities (127,634) (70,391)
Net cash flows provided by (used in) operating activities 108,210 104,233
Cash Flows From Investing Activities    
Purchases of investment securities available-for-sale (449,714) (483,506)
Purchases of equity securities (2,711) (3,791)
Proceeds from maturities, prepayments, and calls of investment securities available-for-sale 295,032 318,810
Proceeds from sales of investment securities available-for-sale 10,187 15,195
Proceeds from maturities, prepayments, and calls of investment securities held-to-maturity 15,181 15,619
Proceeds from sales of Federal Home Loan Bank/Federal Reserve Bank stock 13 0
Proceeds from sales of equity securities 2,777 1,834
Loan originations and payments, net (229,265) (639,530)
Proceeds from sales of commercial loans 86,581 13,819
Proceeds from company-owned life insurance death benefits 5,978 3,891
Proceeds from sales of premises and equipment and other assets 1,190 0
Purchases of premises and equipment and other assets (5,802) (8,482)
Net cash flows provided by (used in) investing activities (270,553) (766,141)
Net increase (decrease) in:    
Deposits 211,012 464,238
Federal funds purchased and interbank borrowings (215) 50,026
Securities sold under agreements to repurchase 21,281 (10,713)
Other borrowings (46,863) 49,809
Payments for maturities of Federal Home Loan Bank advances (250,285) (825,000)
Proceeds from Federal Home Loan Bank advances 301,200 750,000
Cash dividends paid (48,687) (45,094)
Common stock repurchased (13,538) (7,182)
Common stock issued 250 265
Net cash flows provided by (used in) financing activities 174,155 426,349
Net increase (decrease) in cash and cash equivalents 11,812 (235,559)
Cash and cash equivalents at beginning of period 1,227,968 1,175,058
Cash and cash equivalents at end of period 1,239,780 939,499
Supplemental Cash Flow Information:    
Total interest paid 257,981 241,927
Total income taxes paid (net of refunds) 2,170 2,429
Noncash Investing and Financing Activities:    
Investment securities purchased but not settled 20,000 0
Operating lease right-of-use assets obtained in exchange for lease obligations 1,640 (193)
Finance lease right-of-use assets obtained in exchange for lease obligations $ 831 $ 10,400