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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 244,224 $ 119,339
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Accretion of investment discounts, net (39,785) (26,954)
Gain on sale of investment securities, net (11) 0
Provision for credit losses 48,956 121,553
Change in cash surrender value of bank-owned life insurance (9,502) (2,992)
Depreciation, amortization and accretion 77,120 63,111
Gain on sale of premises and equipment (2,628) (644)
Additions to residential mortgage servicing rights carried at fair value (2,777) (2,769)
Change in fair value of residential mortgage servicing rights carried at fair value 1,981 14,857
Stock-based compensation 9,908 8,979
Net increase in equity and other investments (1,466) (395)
Loss (gain) on equity securities, net 1,240 (1,719)
Gain on sale of loans and leases, net (1,799) (4,940)
Change in fair value of loans held for sale (316) 520
Origination of loans held for sale (227,778) (251,202)
Proceeds from sales of loans held for sale 204,276 258,802
Change in other assets and liabilities:    
Net increase in other assets (49,478) (14,072)
Net increase (decrease) in other liabilities 83,633 (54,115)
Net cash provided by operating activities 335,798 227,359
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investment securities available for sale (33,506) (919,933)
Proceeds from investment securities available for sale 237,615 1,369,809
Purchases of restricted equity securities (85,500) (220,066)
Redemption of restricted equity securities 148,500 110,696
Net change in loans and leases (457,307) (581,350)
Proceeds from sales of loans and leases 112,307 435,939
Change in premises and equipment 12,369 3,512
Proceeds from bank-owned life insurance death benefits 3,305 3,305
Cash received in the Merger 0 274,587
Other 1,143 340
Net cash (used in) provided by investing activities (85,812) 469,815
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net decrease in deposit liabilities (83,748) (1,423,793)
Net decrease in federal funds purchased 0 (14,000)
Net decrease in securities sold under agreements to repurchase (54,259) (83,880)
Proceeds from borrowings 3,900,000 9,850,000
Repayment of borrowings (3,950,000) (6,786,522)
Dividends paid on common stock (150,068) (120,448)
Repurchase and retirement of common stock (5,614) (5,958)
Net cash (used in) provided by financing activities (343,689) 1,415,399
Net (decrease) increase in cash and cash equivalents (93,703) 2,112,573
Cash and cash equivalents, beginning of period 2,162,534 1,294,643
Cash and cash equivalents, end of period 2,068,831 3,407,216
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 525,478 228,995
Income taxes 52,373 78,528
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Changes in unrealized gains and losses on investment securities available for sale, net of taxes (120,060) (238)
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes 4,491 8,269
Transfer of loans to loans held for sale 0 118,085
Umpqua Bank and Columbia Banking System Merger    
Asset Acquisition [Line Items]    
Assets acquired 0 19,230,586
Liabilities assumed 0 (17,920,542)
Net assets acquired $ 0 $ 1,310,044