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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 101,643,000 $ 53,493,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit loss 8,587,000 1,481,000
Specific reserve, other real estate owned 250,000  
Depreciation of bank premises and equipment 5,466,000 5,475,000
(Gain) loss on sale of bank premises and equipment   (2,991,000)
Gain on sale of other real estate owned (2,372,000) (777,000)
Accretion of investment securities discounts (589,000) (235,000)
Amortization of investment securities premiums 1,817,000 5,262,000
Unrealized (gain) loss on equity securities with readily determinable fair values (34,000) 269,000
Stock based compensation expense 102,000 121,000
(Earnings) from affiliates and other investments (802,000) (2,474,000)
Deferred tax (benefit) expense (1,841,000) 80,000
(Increase) decrease in accrued interest receivable (3,233,000) 3,038,000
Increase (decrease) in other assets 1,277,000 (4,455,000)
Increase in other liabilities 32,419,000 20,810,000
Net cash provided by operating activities 142,690,000 79,097,000
Investing activities:    
Proceeds from maturities of securities 1,200,000 1,075,000
Proceeds from sales and calls of available for sale securities 450,000 0
Purchases of available for sale securities (595,184,000) (362,746,000)
Principal collected on mortgage-backed securities 134,171,000 207,302,000
Net (increase) decrease in loans (102,525,000) 159,246,000
Purchases of other investments (9,935,000) (42,043,000)
Distributions from other investments 5,124,000 1,583,000
Purchases of bank premises and equipment (4,290,000) (2,486,000)
Proceeds from sales of bank premises and equipment   6,461,000
Proceeds from sales of other real estate owned 2,691,000 4,898,000
Net cash used in investing activities (568,298,000) (26,710,000)
Financing activities:    
Net (decrease) increase in non-interest bearing demand deposits (297,310,000) 198,680,000
Net decrease in savings and interest-bearing demand deposits (158,129,000) (28,897,000)
Net increase in time deposits 76,211,000 7,676,000
Net (decrease) increase in securities sold under repurchase agreements (47,689,000) 50,419,000
Net decrease in other borrowed funds (49,000) (48,000)
Purchase of treasury stock (1,036,000) (3,380,000)
Proceeds from stock transactions 85,000 146,000
Payments of cash dividends (39,151,000) (38,026,000)
Net cash (used in) provided by financing activities (467,068,000) 186,570,000
(Decrease) increase in cash and cash equivalents (892,676,000) 238,957,000
Cash and cash equivalents at beginning of period 2,087,724,000 3,209,242,000
Cash and cash equivalents at end of period 1,195,048,000 3,448,199,000
Supplemental cash flow information:    
Interest paid 19,731,000 6,297,000
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned $ 353,000  
Net transfers from bank premises and equipment to other assets   $ 2,476,000