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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Interest and dividends received $ 114,010 $ 95,475
Service charges and other fees received 10,664 8,636
Interest paid (1,254) (1,859)
Net cash paid to vendors, employees and others (48,292) (56,221)
Income taxes (16) (907)
Net cash provided by operating activities 75,112 46,938
Cash Flows from Investing Activities    
Proceeds from redemption of FHLB stock 4,712
Net change in interest-earning balances from depository institutions 29,140 15,815
Proceeds from sale of investment securities held-for-sale 0 0
Proceeds from repayment of investment securities available-for-sale 145,783 224,104
Proceeds from maturity of investment securities available-for-sale 0 0
Purchases of investment securities available-for-sale (608,045) (661,857)
Proceeds from repayment and maturity of investment securities held-to-maturity 174,125 35,766
Purchases of investment securities held-to-maturity (483,426) (545,681)
Net increase in equity investments (766) (4,961)
Net decrease (increase) in loan and lease finance receivables 75,661 64,167
Proceeds from sale of building, net of selling costs 1,157
Purchase of premises and equipment (1,120) (662)
Proceeds from BOLI death benefit 3,096 5,062
Proceeds from sales of other real estate owned 2,216
Cash acquired from acquisition, net of cash paid 329,001
Net cash used in investing activities (330,307) (864,874)
Cash Flows from Financing Activities    
Net increase in other deposits 350,695 336,518
Net (decrease) increase in time deposits (21,930) 5,636
Net decrease in other borrowings (2,281)
Net increase in customer repurchase agreements (43,479) 66,940
Cash dividends on common stock (24,396) (24,408)
Repurchase of common stock (13,643) (502)
Repurchase of common stock, ASR Plan (56,000)
ASR Contract (14,000)
Proceeds from exercise of stock options 720 891
Net cash provided by financing activities 175,686 385,075
Net increase in cash and cash equivalents (79,509) (432,861)
Cash and cash equivalents, beginning of period 1,732,548 1,958,160
Cash and cash equivalents, end of period 1,653,039 1,525,299
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities    
Net earnings 45,560 63,893
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Gain on sale of building, net (189)
Gain on sale of other real estate owned (399)
Increase in BOLI (1,349) (4,624)
Net amortization of premiums and discounts on investment securities 8,134 6,411
Accretion of discount for acquired loans, net (1,843) (4,028)
(Recapture of) provision for credit losses 2,500 (19,500)
Stock-based compensation 1,595 1,282
Depreciation and amortization, net 2,317 (3,526)
Change in other assets and liabilities 18,198 7,618
Total adjustments 29,552 (16,955)
Net cash provided by operating activities 75,112 46,938
Supplemental Disclosure of Non-cash Investing Activities    
Securities purchased and not settled 257,979 80,973
Issuance of common stock for acquisitions $ 197,069