XML 14 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Interest and dividends received $ 493,875 $ 458,084
Service charges and other fees received 33,272 35,761
Interest paid (162,177) (65,233)
Net cash paid to vendors, employees and others (142,862) (181,661)
Income taxes (47,094) 0
Net cash provided by operating activities 175,014 246,951
Cash Flows from Investing Activities    
Proceeds of FHLB stock, net 0 9,615
Net change in interest-earning balances from depository institutions (16,122) 5,445
Proceeds from repayment of investment securities available-for-sale 256,100 282,663
Proceeds from maturity of investment securities available-for-sale 48,617 4
Proceeds from sales of AFS securities 245,284 0
Purchases of investment securities available-for-sale (33,435) (33,737)
Proceeds from repayment and maturity of investment securities held-to-maturity 61,663 75,913
Purchases of investment securities held-to-maturity (11,455) (2,026)
Net increase in equity investments (8,928) (60)
Net decrease in loan and lease finance receivables 334,109 206,059
Purchase of premises and equipment (3,160) (2,880)
Proceeds from sale-leaseback transactions 16,175 0
Proceeds from BOLI death benefit 2,983 2,505
Net cash provided by investing activities 891,830 543,501
Cash Flows from Financing Activities    
Net increase (decrease) in other deposits 349,312 (488,560)
Net increase in time deposits 289,535 11,101
Net (decrease) increase in other borrowings (1,570,000) 125,000
Net increase (decrease) in customer repurchase agreements 122,873 (295,879)
Cash dividends on common stock (83,894) (83,819)
Repurchase of common stock (2,624) (21,186)
Proceeds from exercise of stock options 129 125
Net cash used in financing activities (894,669) (753,218)
Net increase in cash and cash equivalents 172,175 37,234
Cash and cash equivalents, beginning of period 281,285 203,461
Cash and cash equivalents, end of period 453,460 240,695
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities    
Net Income (Loss) 149,858 172,927
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Increase in BOLI (10,034) (4,834)
Net amortization of premiums and discounts on investment securities 12,647 13,807
Loss on sale of AFS securities 11,582 0
Accretion of discount for acquired loans, net (2,654) (2,892)
Provision for credit losses 0 4,000
(Recapture of) provision for unfunded loan commitments (1,250) 0
Valuation allowance on other real estate owned 28 0
Gain on sale leaseback transactions (9,106) 0
Stock-based compensation 7,637 7,055
Depreciation and amortization, net 10,902 13,985
Change in other assets and liabilities 5,404 42,903
Total adjustments 25,156 74,024
Net cash provided by operating activities 175,014 246,951
Supplemental Disclosure of Non-cash Investing Activities    
Securities sold and not settled 55,960 0
Transfer of loans to other real estate owned 675 0
Lease liabilities arising from obtaining right-of-use assets $ 11,175 $ 0