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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 115,525,000 $ 128,398,000 $ 175,648,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 41,499,000 11,695,000 13,076,000
Provision charge for credit losses 87,564,000 28,168,000 5,004,000
Deferred tax (benefit) expense (12,271,000) 2,725,000 2,220,000
Amortization of operating lease right-of-use assets 13,088,000 10,495,000 10,617,000
Income on Bank-owned life insurance (11,709,000) (6,482,000) (5,988,000)
Net amortization of premiums and discounts on securities 7,135,000 8,326,000 12,673,000
Accretion of net deferred loan fees (7,201,000) (8,724,000) (9,262,000)
Amortization of premiums on purchased loans, net 314,000 206,000 270,000
Originations of loans held for sale (70,045,000) (19,371,000) (22,295,000)
Loans transferred to held for sale 151,281,000 0 0
Proceeds from sales of loans originated for sale 62,416,000 22,895,000 20,521,000
ESOP expense 2,601,000 3,086,000 4,140,000
Allocation of stock award shares 9,517,000 7,569,000 9,407,000
Allocation of stock options 77,000 144,000 198,000
Net gain on sale of loans (1,758,000) (2,019,000) (1,515,000)
Net loss (gain) on securities transactions 2,986,000 (30,000) (181,000)
Net loss (gain) on sale of premises and equipment 0 154,000 (22,000)
Net gain on sale of foreclosed assets (214,000) (2,854,000) (8,541,000)
Net change in balance sheet:      
Increase in accrued interest receivable (4,953,000) (7,063,000) (9,913,000)
Decrease (increase) in other assets 23,214,000 25,085,000 (56,291,000)
Increase (decrease) in other liabilities 17,315,000 (29,007,000) 60,544,000
Net cash provided by operating activities 426,381,000 173,396,000 200,310,000
Cash flows from investing activities:      
Net increase in loans (193,990,000) (625,691,000) (649,216,000)
Proceeds from sales of loans held for investment 0 2,017,000 0
Proceeds from sales of foreclosed assets 708,000 4,340,000 16,155,000
Proceeds from maturities, calls and paydowns of investment securities held to maturity 51,782,000 40,816,000 73,841,000
Purchases of investment securities held to maturity (18,363,000) (17,099,000) (27,043,000)
Proceeds from sales of securities available for sale 566,942,000 0 0
Proceeds from maturities calls and paydowns of securities available for sale 335,256,000 189,542,000 278,779,000
Purchases of securities available for sale (403,999,000) (40,089,000) (290,426,000)
Proceeds from redemption of Federal Home Loan Bank stock 205,066,000 212,527,000 162,987,000
Purchases of Federal Home Loan Bank stock (237,964,000) (223,190,000) (197,251,000)
Cash received, net of cash consideration paid for acquisition 194,548,000 0 0
BOLI claim benefits received 8,995,000 3,873,000 970,000
Purchases of loans 0 (9,263,000) (6,971,000)
Proceeds from sales of premises and equipment 0 105,000 22,000
Purchases of premises and equipment (1,307,000) (7,488,000) (9,411,000)
Net cash provided by (used in) investing activities 507,674,000 (469,600,000) (647,564,000)
Cash flows from financing activities:      
Net decrease in deposits (291,625,000) (270,510,000) (670,988,000)
(Decrease) increase in mortgage escrow deposits (122,000) 1,133,000 1,265,000
Purchase of treasury stock 0 0 (46,530,000)
Purchase of employee restricted shares to fund statutory tax withholding (1,323,000) (1,678,000) (1,021,000)
Cash dividends paid to stockholders (100,956,000) (72,447,000) (72,023,000)
Stock options exercised 0 790,000 0
Proceeds from long-term borrowings 635,900,000 534,807,000 3,982,100,000
Repayments of long-term borrowings (1,390,028,000) (58,443,000) (3,252,556,000)
Net increase (decrease) in short-term borrowings 18,603,000 156,299,000 (18,948,000)
Proceeds from subordinated debentures 221,180,000 0 0
Net cash (used in) provided by financing activities (908,371,000) 289,951,000 (78,701,000)
Net increase (decrease) in cash and cash equivalents 25,684,000 (6,253,000) (525,955,000)
Cash and cash equivalents at beginning of period 180,185,000 186,438,000 685,163,000
Restricted cash at beginning of period 70,000 70,000 27,300,000
Total cash, cash equivalents and restricted cash at beginning of period 180,255,000 186,508,000 712,463,000
Cash and cash equivalents at end of period 205,869,000 180,185,000 186,438,000
Restricted cash at end of period 70,000 70,000 70,000
Total cash, cash equivalents and restricted cash at end of period 205,939,000 180,255,000 186,508,000
Cash paid during the period for:      
Interest on deposits and borrowings 397,282,000 210,345,000 46,896,000
Income taxes 36,184,000 46,461,000 51,050,000
Non cash investing activities:      
Initial recognition of operating lease right-of-use assets 14,742,000 0 0
Initial recognition of operating lease liabilities 14,742,000 0 0
Transfer of loans receivable to foreclosed assets 0 15,131,000 1,208,000
Non-cash assets acquired at fair value:      
Investment securities 1,632,106,000 0 0
Loans held for sale 1,494,000 0 0
Loans held for investment 7,889,138,000 0 0
Bank-owned life insurance 160,646,000 0 0
Goodwill and other intangible assets 390,361,000 0 0
Bank premises and equipment 60,578,000 0 0
Other assets 263,722,000 0 0
Total non-cash assets acquired at fair value 10,398,045,000 0 0
Liabilities assumed:      
Deposits 8,622,924,000 0 0
Borrowings and subordinated debt 785,927,000 0 0
Subordinated debentures 166,366,000 0 0
Other liabilities 140,598,000 0 0
Total liabilities assumed 9,715,815,000 0 0
Common stock issued for acquisitions $ 876,779,000 $ 0 $ 0