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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Interest and dividends received $ 148,887,000 $ 161,187,000
Service charges and other fees received 10,966,000 10,560,000
Interest paid (33,242,000) (23,092,000)
Net cash paid to vendors, employees and others (84,709,000) (71,181,000)
Income taxes (24,000) 0
Net cash provided by operating activities 41,878,000 77,474,000
Cash Flows from Investing Activities    
Net change in interest-earning balances from depository institutions (2,971,000) (4,416,000)
Proceeds from repayment of investment securities available-for-sale 65,507,000 82,060,000
Proceeds from maturity of investment securities available-for-sale 0 15,000,000
Proceeds from repayment and maturity of investment securities held-to-maturity 19,169,000 18,446,000
Purchases of investment securities held-to-maturity (1,700,000) (11,455,000)
Net (increase) decrease in equity investments (1,679,000) (1,599,000)
Net decrease in loan and lease finance receivables 173,174,000 132,281,000
Purchase of premises and equipment (679,000) (166,000)
Proceeds from BOLI death benefit 901,000 882,000
Proceeds from sales of other real estate owned 21,348,000 0
Net cash provided by investing activities 273,070,000 231,033,000
Cash Flows from Financing Activities    
Net increase in other deposits 53,311,000 182,120,000
Net (decrease) increase in time deposits (11,771,000) 279,159,000
Net (decrease) increase in other borrowings 0 (75,000,000)
Net increase in customer repurchase agreements 14,276,000 4,078,000
Cash dividends on common stock (27,938,000) (28,030,000)
Repurchase of common stock (18,687,000) (2,573,000)
Proceeds from exercise of stock options 252,000 43,000
Net cash provided by (used in) financing activities 9,443,000 359,797,000
Net increase in cash and cash equivalents 324,391,000 668,304,000
Cash and cash equivalents, beginning of period 204,698,000 281,285,000
Cash and cash equivalents, end of period 529,089,000 949,589,000
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities    
Net Income (Loss) 51,104,000 48,599,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Gain on sale of other real estate owned (2,045,000) 0
Increase in BOLI (2,831,000) (3,593,000)
Net amortization of premiums and discounts on investment securities 3,878,000 4,142,000
Accretion of discount for acquired loans, net (674,000) (1,042,000)
(Recapture of) provision for credit losses (2,000,000) 0
Provision for unfunded loan commitments (500,000) 0
Valuation allowance on other real estate owned 0 28,000
Stock-based compensation 2,523,000 2,386,000
Depreciation and amortization, net 4,820,000 3,092,000
Change in other assets and liabilities (13,397,000) 23,862,000
Total adjustments (9,226,000) 28,875,000
Net cash provided by operating activities 41,878,000 77,474,000
Supplemental Disclosure of Non-cash Investing Activities    
Transfer of loans to other real estate owned $ 495,000 $ 675,000