XML 20 R9.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 97,331,000 $ 101,643,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit loss 12,978,000 8,587,000
Specific reserve, other real estate owned   250,000
Depreciation of bank premises and equipment 5,629,000 5,466,000
Gain on sale of bank premises and equipment (2,000)  
Gain on sale of other real estate owned (258,000) (2,372,000)
Accretion of investment securities discounts (455,000) (589,000)
Amortization of investment securities premiums 1,427,000 1,817,000
Unrealized (gain) loss on equity securities with readily determinable fair values 57,000 (34,000)
Stock based compensation expense 74,000 102,000
Earnings from affiliates and other investments (955,000) (802,000)
Deferred tax expense (benefit) 6,278,000 (1,841,000)
(Increase) decrease in accrued interest receivable (1,036,000) (3,233,000)
(Increase) decrease in other assets (9,587,000) 1,277,000
Increase (decrease) in other liabilities 23,914,000 32,419,000
Net cash provided by operating activities 135,395,000 142,690,000
Investing activities:    
Proceeds from maturities of securities 1,075,000 1,200,000
Proceeds from sales and calls of available for sale securities 1,720,000 450,000
Purchases of available for sale securities (135,249,000) (595,184,000)
Principal collected on mortgage backed securities 155,062,000 134,171,000
Net increase in loans (80,879,000) (102,525,000)
Purchases of other investments (21,246,000) (9,935,000)
Distributions from other investments 1,800,000 5,124,000
Purchases of bank premises and equipment (6,541,000) (4,290,000)
Proceeds from sales of bank premises and equipment 2,000  
Proceeds from sales of other real estate owned 635,000 2,691,000
Net cash used in investing activities (83,621,000) (568,298,000)
Financing activities:    
Net decrease in non-interest bearing demand deposits (46,325,000) (297,310,000)
Net increase (decrease) in savings and interest bearing demand deposits 144,314,000 (158,129,000)
Net increase (decrease) in time deposits 92,863,000 76,211,000
Net increase (decrease) in securities sold under repurchase agreements 54,552,000 (47,689,000)
Net decrease in other borrowed funds (50,000) (49,000)
Purchase of treasury stock (495,000) (1,036,000)
Proceeds from stock transactions 2,293,000 85,000
Payments of cash dividends (41,031,000) (39,151,000)
Net cash provided by (used in) financing activities 206,121,000 (467,068,000)
Increase (decrease) in cash and cash equivalents 257,895,000 (892,676,000)
Cash and cash equivalents at beginning of period 651,058,000 2,087,724,000
Cash and cash equivalents at end of period 908,953,000 1,195,048,000
Supplemental cash flow information:    
Interest paid 48,181,000 19,731,000
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned $ 110,000 $ 353,000