XML 20 R8.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 239,032 $ 244,224
Adjustments to reconcile net income to net cash provided by operating activities:    
Accretion of investment discounts, net (37,083) (39,785)
Gain on sale of investment securities, net (5) (11)
Provision for credit losses 56,852 48,956
Change in cash surrender value of bank-owned life insurance (10,573) (9,502)
Depreciation, amortization and accretion, net 67,919 77,120
Gain on sale of premises and equipment (3,252) (2,628)
Additions to residential mortgage servicing rights carried at fair value (3,506) (2,777)
Change in fair value of residential mortgage servicing rights carried at fair value 9,001 1,981
Stock-based compensation 16,247 9,908
Net increase in equity and other investments (12,713) (1,466)
(Gain) loss on equity securities, net (2,112) 1,240
Gain on sale of loans and leases, net (6,548) (1,799)
Change in fair value of loans held for sale (617) (316)
Origination of loans held for sale (299,843) (227,778)
Proceeds from sales of loans held for sale 321,916 204,276
Change in other assets and liabilities:    
Net decrease (increase) in other assets 24,685 (49,478)
Net (decrease) increase in other liabilities (130,593) 83,633
Net cash provided by operating activities 228,807 335,798
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investment securities available for sale (547,550) (33,506)
Proceeds from investment securities available for sale 371,534 237,615
Purchases of restricted equity securities (137,601) (85,500)
Redemption of restricted equity securities 126,245 148,500
Net change in loans and leases (33,143) (457,307)
Proceeds from sales of loans and leases 7,502 112,307
Purchases of premises and equipment, net of proceeds from sales (22,002) (12,369)
Proceeds from bank-owned life insurance death benefits 2,193 3,305
Purchase of bank-owned life insurance (2,700) 0
Other 1,582 1,143
Net cash used in investing activities (233,940) (85,812)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposit liabilities 21,925 (83,748)
Net decrease in securities sold under agreements to repurchase (45,192) (54,259)
Proceeds from borrowings 5,525,000 3,900,000
Repayment of borrowings (5,275,000) (3,950,000)
Net proceeds from issuance of common stock under employee stock purchase plan 1,384 0
Dividends paid on common stock (150,468) (150,068)
Repurchase and retirement of common stock (8,601) (5,614)
Net cash provided by (used in) financing activities 69,048 (343,689)
Net increase (decrease) in cash and cash equivalents 63,915 (93,703)
Cash and cash equivalents, beginning of period 1,878,255 2,162,534
Cash and cash equivalents, end of period 1,942,170 2,068,831
Cash paid during the period for:    
Interest 440,191 525,478
Income taxes 84,788 52,373
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Changes in unrealized gains and losses on investment securities available for sale, net of taxes 122,489 (120,060)
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes $ 5,678 $ 4,491