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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 194,311,000 $ 202,128,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense 21,749,000 17,403,000
Specific reserve, other real estate owned 16,000 297,000
Depreciation of bank premises and equipment 11,344,000 10,874,000
Gain on sale of bank premises and equipment (344,000) (124,000)
Gain on sale of other real estate owned (281,000) (2,626,000)
Accretion of investment securities discounts (957,000) (972,000)
Amortization of investment securities premiums 2,778,000 3,504,000
Unrealized loss on equity securities with readily determinable fair values 80,000 58,000
Stock based compensation expense 122,000 179,000
(Earnings) losses from affiliates and other investments (1,781,000) 2,696,000
Deferred tax expense (benefit) 8,664,000 (3,190,000)
Increase in accrued interest receivable (6,424,000) (7,584,000)
Increase in other assets (3,546,000) (18,525,000)
Increase in other liabilities 16,858,000 23,821,000
Net cash provided by operating activities 242,589,000 227,939,000
Investing activities:    
Proceeds from maturities of securities 2,075,000 51,167,000
Proceeds from sales and calls of available for sale securities 1,720,000 450,000
Purchases of available for sale securities (429,932,000) (688,709,000)
Principal collected on mortgage backed securities 343,558,000 296,920,000
Net increase in loans (242,275,000) (145,855,000)
Purchases of other investments (25,062,000) (21,627,000)
Distributions from other investments 6,393,000 7,048,000
Purchases of bank premises and equipment (8,882,000) (9,885,000)
Proceeds from sales of bank premises and equipment 574,000 151,000
Proceeds from sales of other real estate owned 1,088,000 3,341,000
Net cash used in investing activities (350,743,000) (506,999,000)
Financing activities:    
Net decrease in non-interest bearing demand deposits (178,453,000) (584,871,000)
Net increase (decrease) in savings and interest bearing demand deposits 165,783,000 (363,597,000)
Net increase (decrease) in time deposits 219,736,000 223,767,000
Net increase in securities sold under repurchase agreements 81,172,000 10,643,000
Net decrease in other borrowed funds (101,000) (99,000)
Redemption of long-term debt   (25,774,000)
Purchase of treasury stock (495,000) (4,403,000)
Proceeds from stock transactions 2,651,000 294,000
Payments of cash dividends (41,031,000) (39,151,000)
Net cash provided by (used in) financing activities 249,262,000 (783,191,000)
Increase (decrease) in cash and cash equivalents 141,108,000 (1,062,251,000)
Cash and cash equivalents at beginning of period 651,058,000 2,087,724,000
Cash and cash equivalents at end of period 792,166,000 1,025,473,000
Supplemental cash flow information:    
Interest paid 96,325,000 45,883,000
Income taxes paid 30,176,000 48,326,000
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned $ 3,200,000 $ 519,000