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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Interest and dividends received $ 644,086 $ 615,078 $ 512,693
Service charges and other fees received 44,364 43,694 43,859
Interest paid (200,412) (95,505) (8,583)
Net cash paid to vendors, employees and others (184,398) (197,739) (185,300)
Income Taxes (53,875) (69,896) (88,938)
Net cash provided by operating activities 249,765 295,632 273,731
Cash Flows from Investing Activities      
Proceeds of FHLB stock, net 0 9,615 (4,903)
Net change in interest-earning balances from depository institutions 7,736 1,337 26,446
Proceeds from sales of available-for-sale securities 439,420 0 0
Proceeds from repayment of investment securities available-for-sale 311,630 374,490 423,040
Proceeds from maturity of investment securities available-for-sale 66,395 329 90,172
Purchases of investment securities available-for-sale (419,190) (46,415) (1,146,071)
Proceeds from repayment and maturity of investment securities held-to-maturity 84,046 75,457 148,239
Purchases of investment securities held-to-maturity (11,455) (2,026) (659,039)
Net (increase) decrease in equity investments (23,785) (13,594) 1,980
Net decrease (increase) in loan and lease finance receivables 352,744 180,332 (400,217)
Proceeds from sale of building, net of selling costs 0 0 8,315
Purchase of premises and equipment (5,135) (4,521) (5,359)
Proceeds from sale-leaseback transactions 44,522 0 0
Proceeds from redemption of BOLI policies 0 67,768 0
Purchase of BOLI policies 0 (109,000) 0
Proceeds from BOLI death benefit 5,818 2,505 11,430
Cash acquired from acquisition, net of cash paid 0 0 329,001
Net cash provided by (used in) investing activities 852,746 536,276 (1,176,966)
Cash Flows from Financing Activities      
Net increase (decrease) in other deposits 337,541 (1,504,372) (1,219,107)
Net increase (decrease) in time deposits 177,198 101,769 (103,661)
Net (decrease) increase in other borrowings (1,570,000) 1,075,000 992,719
Net (decrease) increase in customer repurchase agreements (9,755) (293,789) (76,957)
Cash dividends on common stock (111,830) (111,686) (104,439)
Repurchase of common stock (2,817) (21,216) (46,330)
Repurchase of common stock, ASR Plan 0 0 (70,000)
Proceeds from exercise of stock options 565 210 1,923
Net cash (used in) provided by financing activities (1,179,098) (754,084) (625,852)
Net increase (decrease) in cash and cash equivalents (76,587) 77,824 (1,529,087)
Cash and cash equivalents, beginning of period 281,285 203,461 1,732,548
Cash and cash equivalents, end of period 204,698 281,285 203,461
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities      
Net earnings 200,716 221,435 235,425
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Gain on sale of building, net 0 0 (2,717)
Write-down of BOLI 0 (4,465) 0
Increase in BOLI (12,420) (8,286) (5,356)
Net amortization of premiums and discounts on investment securities 16,832 18,049 26,565
Loss on sale available-for-sale securities 28,317 0 0
Accretion of discount for acquired loans, net (3,260) (3,886) (7,904)
(Recapture of) provision for credit losses (3,000) 2,000 10,600
(Recapture of) provision for unfunded loan commitments (1,250) (500) 0
Valuation allowance on other real estate owned 28 0 0
Gain on sale leaseback transactions (25,900) 0 0
Stock-based compensation 10,234 9,439 7,901
Depreciation and amortization, net 15,368 18,169 13,661
Change in other assets and liabilities 24,100 43,677 (4,444)
Total adjustments 49,049 74,197 38,306
Net cash provided by operating activities 249,765 295,632 273,731
Supplemental Disclosure of Non-cash Investing Activities      
Securities matured and not settled 0 15,000 0
Transfer of loans to other real estate owned 19,331 0 0
Lease liabilities arising from obtaining right-of-use assets 26,908 0 0
Issuance of common stock for acquisition $ 0 $ 0 $ 197,069