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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 255,863 $ 217,612 $ 205,160
Adjustments to reconcile net income to net cash provided by operating activities      
Provision for credit losses 43,107 11,713 (18,121)
Depreciation and amortization 30,026 31,181 32,136
Stock-based compensation expense 14,898 13,379 9,635
Pension expense (income) 3,515 2,002 3,365
Net amortization (accretion) on investment securities 7,190 12,819 28,987
Net (gain) loss on sales/transfers of investments securities 1,258 569 759
Equity Securities, FV-NI, Unrealized Gain (Loss) (206) 639 (702)
Originations of loans held for sale (294,037) (368,574) (794,524)
Net (gains) losses on sales of loans held for sale (13,217) (15,048) (33,021)
Proceeds from sales of loans held for sale 302,609 375,122 825,102
Deferred income taxes 13,365 (3,505) 12,087
Operating Lease, Expense 7,773 7,626 7,425
Operating Lease, Payments (7,819) (7,824) (6,860)
Life Insurance, Corporate or Bank Owned, Change in Value 5,033 2,287 1,833
Decrease (increase) in interest receivable (9,567) (19,134) 6,463
(Decrease) increase in interest payable 40,305 6,652 (1,889)
Decrease (increase) in other assets 159,446 (226,398) 138,225
(Decrease) increase in other liabilities (62,507) 164,302 (24,237)
Net cash provided by (used in) operating activities 486,969 200,846 388,157
Investing activities      
Proceeds from Sale of Debt Securities, Available-for-sale 92,187 277,082 375,276
Proceeds from calls, paydowns and maturities of securities available-for-sale 440,815 704,304 1,139,498
Payments to Acquire Debt Securities, Available-for-sale (96,745) (641,643) (2,418,290)
Proceeds from calls, paydowns and maturities of securities held-to-maturity 3,902 14,640 34,563
Purchases of securities held-to-maturity 0 0 (1,000)
Proceeds from Maturities, Prepayments and Calls of Other Investments 29,713 8 42,403
Purchases of other investment securities (16,292) (40,836) (11,474)
Net decrease (increase) in interest-bearing deposits with other banks (404,778) (173,371) (194,506)
Proceeds from Sale of Loans Held-for-investment 0 0 141,072
Payments for (Proceeds from) Other Loans and Leases 665,861 987,088 (503,203)
Proceeds from Sale of Other Real Estate 288 192 1,278
Purchases of premises and equipment (24,135) (13,778) (15,333)
Net change in operating leases (61,476) (29,475) 0
Proceeds from Life Insurance Policy 4,652 6,860 2,305
Net cash acquired (paid) in business combinations (3,535) 0 (109,024)
Net cash provided by (used in) investing activities (701,265) (883,105) (510,029)
Financing activities      
Net (decrease) increase in total deposits 659,620 (170,777) 639,951
Net (decrease) increase in short-term borrowings (349,342) 990,953 129,609
Payments on long-term borrowings (3,313) (64,018) (463,382)
Cash dividends paid on common stock (87,159) (86,606) (87,316)
Treasury stock purchase 0 0 (108,077)
Proceeds from exercise of stock options 48 177 64
Net cash provided by (used in) financing activities 219,854 669,729 110,849
Cash and due from banks      
Net (decrease) increase in Cash and due from banks 5,558 (12,530) (11,023)
Cash and due from banks at beginning of year 207,501 220,031 231,054
Cash and due from banks at end of year 213,059 207,501 220,031
Supplemental disclosures      
Interest paid 234,929 59,512 32,841
Income taxes paid 10,076 5,696 17,689
Acquisition of other real estate owned through foreclosure 387 327 98
Issuance of restricted stock awards 12,503 22,280 12,231
Common stock issued in bank acquisitions 0 0 10,000
Supplemental schedule for investing activities      
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration (3,420) 64 62,916
Total liabilities assumed 941 822 125,894
Goodwill $ 4,361 $ 758 $ 62,978