XML 19 R9.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 53,493,000 $ 50,771,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit loss 1,481,000 1,192,000
Specific reserve, other real estate owned   150,000
Depreciation of bank premises and equipment 5,475,000 6,799,000
Gain on sale of bank premises and equipment (2,991,000) (34,000)
Gain on sale of other real estate owned (777,000) (219,000)
Accretion of investment securities discounts (235,000) (138,000)
Amortization of investment securities premiums 5,262,000 11,576,000
Investment securities transactions, net   4,000
Unrealized loss on equity securities with readily determinable fair values 269,000 77,000
Proceeds from settlements of claims   2,870,000
Stock based compensation expense 121,000 159,000
Earnings from affiliates and other investments (2,474,000) (2,448,000)
Deferred income taxes 80,000 (64,000)
Decrease in accrued interest receivable 3,038,000 6,091,000
(Increase) decrease in other assets (4,455,000) 9,931,000
Increase in other liabilities 20,810,000 8,788,000
Net cash provided by operating activities 79,097,000 95,505,000
Investing activities:    
Proceeds from maturities of securities 1,075,000 1,200,000
Proceeds from sales and calls of available for sale securities 0 2,510,000
Purchases of available for sale securities (362,746,000) (517,004,000)
Principal collected on mortgage backed securities 207,302,000 568,011,000
Net decrease in loans 159,246,000 60,966,000
Purchases of other investments (42,043,000) (34,086,000)
Distributions from other investments 1,583,000 2,201,000
Purchases of bank premises and equipment (2,486,000) (1,614,000)
Proceeds from sales of bank premises and equipment 6,461,000 34,000
Proceeds from sales of other real estate owned 4,898,000 1,544,000
Net cash (used in) provided by investing activities (26,710,000) 83,762,000
Financing activities:    
Net increase in non-interest bearing demand deposits 198,680,000 506,083,000
Net (decrease) increase in savings and interest bearing demand deposits (28,897,000) 262,432,000
Net increase (decrease) in time deposits 7,676,000 (9,395,000)
Net increase in securities sold under repurchase agreements 50,419,000 11,185,000
Net decrease in other borrowed funds (48,000) (47,000)
Purchase of treasury stock (3,380,000) (48,000)
Proceeds from stock transactions 146,000 1,550,000
Payments of cash dividends (38,026,000) (34,813,000)
Net cash provided by financing activities 186,570,000 736,947,000
Increase in cash and cash equivalents 238,957,000 916,214,000
Cash and cash equivalents at beginning of period 3,209,242,000 1,997,238,000
Cash and cash equivalents at end of period 3,448,199,000 2,913,452,000
Supplemental cash flow information:    
Interest paid 6,297,000 7,984,000
Non-cash investing and financing activities:    
Purchases of available-for-sale securities not yet settled   100,933,000
Net transfers from loans to other real estate owned   $ 16,587,000
Net transfers from bank premises and equipment to other assets $ 2,476,000