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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Interest and dividends received $ 374,575 $ 308,061
Service charges and other fees received 32,968 27,427
Interest paid (4,131) (4,866)
Net cash paid to vendors, employees and others (147,314) (135,640)
Income taxes (53,252) (58,402)
Net cash provided by operating activities 202,846 136,580
Cash Flows from Investing Activities    
Proceeds from redemption of FHLB stock 4,712 0
Net change in interest-earning balances from depository institutions 28,405 16,303
Proceeds from repayment of investment securities available-for-sale 403,184 599,139
Proceeds from maturity of investment securities available-for-sale 1,226 0
Purchases of investment securities available-for-sale (1,142,441) (1,247,286)
Proceeds from repayment and maturity of investment securities held-to-maturity 119,487 113,134
Purchases of investment securities held-to-maturity (622,499) (830,886)
Net decrease (increase) in equity investments (1,740) 4,934
Net (increase) decrease in loan and lease finance receivables (97,801) 529,771
Proceeds from sale of building, net of selling costs 8,315 1,157
Purchase of premises and equipment (4,057) (2,278)
Purchase of BOLI 0 (25,000)
Proceeds from BOLI death benefit 8,691 11,121
Proceeds from sales of other real estate owned 0 3,869
Cash acquired from acquisition, net of cash paid (329,001) 0
Net cash used in investing activities (962,037) (835,890)
Cash Flows from Financing Activities    
Net increase in other deposits (253,021) 1,250,970
Net decrease in time deposits (33,593) (57,255)
Net (decrease) increase in other borrowings (2,281) (5,000)
Net (decrease) increase in customer repurchase agreements (174,544) 220,173
Repayment of junior subordinated debentures 0 (25,774)
Cash dividends on common stock (76,478) (73,341)
Repurchase of common stock (46,206) (8,246)
Repurchase of common stock, ASR Plan 70,000 0
Proceeds from exercise of stock options 1,305 986
Net cash (used in) provided by financing activities (654,818) 1,302,513
Net (decrease) in cash and cash equivalents (1,414,009) 603,203
Cash and cash equivalents, beginning of period 1,732,548 1,958,160
Cash and cash equivalents, end of period 318,539 2,561,363
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities    
Net earnings 169,257 164,825
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Gain on sale of building, net (2,717) (189)
Gain on sale of other real estate owned 0 (477)
Increase in BOLI (3,939) (7,093)
Net amortization of premiums and discounts on investment securities 21,794 23,221
Accretion of discount for acquired loans, net (6,115) (10,158)
Provision for (recapture of) credit losses 8,100 (25,500)
(Recapture of) provision for unfunded loan commitments 0 (1,000)
Stock-based compensation 5,638 4,049
Depreciation and amortization, net 9,426 (7,143)
Change in other assets and liabilities 1,402 (3,955)
Total adjustments 33,589 (28,245)
Net cash provided by operating activities 202,846 136,580
Supplemental Disclosure of Non-cash Investing Activities    
Securities purchased and not settled 8,697 421,751
Issuance of common stock for acquisitions $ 197,069 $ 0