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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net income $ 148,526 $ 158,215
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (recapture of) credit losses 1,683 (10,395)
Depreciation and amortization 23,845 24,307
Stock-based compensation expense 8,707 7,568
Pension expense (income) 1,590 2,530
Net amortization (accretion) on investment securities 10,544 23,828
Net (gain) loss on sales of investment securities 176 745
Unrealized gain (loss) on equity securities 1,954 (381)
Originations of loans held for sale (311,143) (618,904)
Net gains from sales of loans held for sale (12,842) (26,529)
Proceeds from sales of loans held for sale 317,852 644,405
Deferred income taxes 9,418 7,238
Operating Lease, Right-of-Use Asset, Amortization Expense 5,709 5,532
Payments for operating leases (5,865) (5,203)
Decrease (increase) cash surrender value of life insurance 1,559 1,428
Decrease (increase) in interest receivable (6,697) 4,833
(Decrease) increase in interest payable 2,069 (1,432)
Decrease (increase) in other assets (281,714) 93,701
(Decrease) increase in other liabilities 261,953 (25,633)
Net cash provided by (used in) operating activities 174,206 282,997
Investing activities    
Proceeds from Sale of Debt Securities, Available-for-sale 116,796 361,736
Proceeds from calls, paydowns and maturities of securities available-for-sale 594,016 850,248
Payments to Acquire Debt Securities, Available-for-sale 454,759 1,923,277
Proceeds from calls, paydowns and maturities of securities held-to-maturity 12,790 29,036
Payments to Acquire Held-to-maturity Securities 0 (1,000)
Payments to Acquire Other Investments 37,758 6,655
Proceeds from Maturities, Prepayments and Calls of Other Investments 8 42,403
Net decrease (increase) in interest-bearing deposits with other banks (124,167) (9,494)
Net decrease (increase) in loans and leases (490,687) 530,960
Proceeds from disposal of other real estate owned 170 1,036
Purchases of premises and equipment (9,762) (10,603)
Net change in operating leases (22,574) 0
Proceeds from Life Insurance Policy 4,676 1,047
Net cash provided by (used in) investing activities (411,251) (134,563)
Financing activities    
Net (decrease) increase in total deposits (532,019) 445,378
Net (decrease) increase in short-term borrowings 864,844 22,256
Payments of long-term debt 55,369 463,382
Cash dividends paid on common stock (65,066) (65,949)
Treasury stock purchase 0 108,077
Proceeds from exercise of stock options 177 34
Net cash provided by (used in) financing activities 212,567 (169,740)
Cash and due from banks:    
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (24,478) (21,306)
Cash and due from bank at beginning of period 220,031 231,054
Cash and due from bank at end of period 195,553 209,748
Supplemental Disclosures    
Interest Paid 30,820 25,465
Income Taxes Paid 4,847 16,448
Noncash or Part Noncash Acquisition, Investments Acquired 45,494 59,166
Supplemental schedule for investing activities    
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration 692 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities (1,635) 0
Goodwill $ (2,327) $ 0