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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Interest and dividends received $ 148,044 $ 114,010
Service charges and other fees received 11,779 10,664
Interest paid (17,239) (1,254)
Net cash paid to vendors, employees and others (72,445) (48,292)
Income taxes (19) (16)
Net cash provided by operating activities 70,120 75,112
Cash Flows from Investing Activities    
(Purchases) proceeds from redemption of FHLB stock, net (11,070) 4,712
Net change in interest-earning balances from depository institutions (2,391) 29,140
Proceeds from repayment of investment securities available-for-sale 89,465 145,783
Proceeds from maturity of investment securities available-for-sale 3 0
Purchases of investment securities available-for-sale 0 (608,045)
Proceeds from repayment and maturity of investment securities held-to-maturity 17,552 174,125
Purchases of investment securities held-to-maturity (2,026) (483,426)
Net increase in equity investments 2,680 766
Net decrease in loan and lease finance receivables 138,709 75,661
Purchase of premises and equipment (343) (1,120)
Proceeds from BOLI death benefit 0 3,096
Cash acquired from acquisition, net of cash paid 0 329,001
Net cash provided by (used in) investing activities 232,579 (330,307)
Cash Flows from Financing Activities    
Net (decrease) increase in other deposits (553,692) 350,695
Net decrease in time deposits (10,683) (21,930)
Net increase (decrease) in other borrowings 410,000 (2,281)
Net decrease in customer repurchase agreements (75,196) (43,479)
Cash dividends on common stock (28,091) (24,396)
Repurchase of common stock (21,036) (13,643)
Repurchase of common stock, ASR Plan 0 (56,000)
ASR Contract 0 (14,000)
Proceeds from exercise of stock options 72 720
Net cash (used in) provided by financing activities (278,626) 175,686
Net increase (decrease) in cash and cash equivalents 24,073 (79,509)
Cash and cash equivalents, beginning of period 203,461 1,732,548
Cash and cash equivalents, end of period 227,534 1,653,039
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities    
Net earnings 59,270 45,560
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Increase in BOLI (1,189) (1,349)
Net amortization of premiums and discounts on investment securities 4,635 8,134
Accretion of discount for acquired loans, net (1,102) (1,843)
Provision for credit losses 1,500 2,500
Provision for unfunded loan commitments 500 0
Stock-based compensation 2,284 1,595
Depreciation and amortization, net 4,448 2,317
Change in other assets and liabilities (226) 18,198
Total adjustments 10,850 29,552
Net cash provided by operating activities 70,120 75,112
Supplemental Disclosure of Non-cash Investing Activities    
Securities purchased and not settled 0 257,979
Issuance of common stock for acquisitions $ 0 $ 197,069