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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 228,830 $ 255,863 $ 217,612
Adjustments to reconcile net income to net cash provided by operating activities      
Provision for credit losses 47,659 43,107 11,713
Depreciation and amortization 30,323 30,026 31,181
Stock-based compensation expense 15,693 14,898 13,379
Pension expense (income) 6,078 3,515 2,002
Net amortization (accretion) on investment securities 3,066 7,190 12,819
Net (gain) loss on investments securities 22,575 1,052 1,208
Originations of loans held for sale (420,946) (294,037) (368,574)
Net (gains) losses on sales of loans held for sale (17,918) (13,217) (15,048)
Proceeds from sales of loans held for sale 434,896 302,609 375,122
Deferred income taxes 21,202 13,365 (3,505)
Operating Lease, Expense 8,095 7,773 7,626
Operating Lease, Payments (8,441) (7,819) (7,824)
Life Insurance, Corporate or Bank Owned, Change in Value 4,220 5,033 2,287
Decrease (increase) in interest receivable 4,958 (9,567) (19,134)
(Decrease) increase in interest payable (8,044) 40,305 6,652
Decrease (increase) in other assets (172,489) 159,446 (226,398)
(Decrease) increase in other liabilities 70,839 (62,507) 164,302
Net cash provided by (used in) operating activities 262,156 486,969 200,846
Investing activities      
Proceeds from Sale of Debt Securities, Available-for-sale 352,464 92,187 277,082
Proceeds from calls, paydowns and maturities of securities available-for-sale 482,587 440,815 704,304
Payments to Acquire Debt Securities, Available-for-sale (981,290) (96,745) (641,643)
Proceeds from calls, paydowns and maturities of securities held-to-maturity 3,621 3,902 14,640
Proceeds from Sale of Other Investments 11,559 0 0
Proceeds from Maturities, Prepayments and Calls of Other Investments 54,655 29,713 8
Purchases of other investment securities (48,291) (16,292) (40,836)
Net decrease (increase) in interest-bearing deposits with other banks 62,732 (404,778) (173,371)
Payments for (Proceeds from) Other Loans and Leases 769,221 665,861 987,088
Proceeds from Sale of Other Real Estate 136 288 192
Purchases of premises and equipment (21,075) (24,135) (13,778)
Net change in operating leases (55,905) (61,476) (29,475)
Proceeds from Life Insurance Policy 4,880 4,652 6,860
Net cash acquired (paid) in business combinations (96,887) (3,535) 0
Net cash provided by (used in) investing activities (1,000,035) (701,265) (883,105)
Financing activities      
Net (decrease) increase in total deposits 968,341 659,620 (170,777)
Net (decrease) increase in short-term borrowings (182,362) (349,342) 990,953
Proceeds from (Repayments of) Other Long-Term Debt 2,643 (3,313) (64,018)
Cash dividends paid on common stock (89,544) (87,159) (86,606)
Proceeds from exercise of stock options 0 48 177
Net cash provided by (used in) financing activities 699,078 219,854 669,729
Cash and due from banks      
Net (decrease) increase in Cash and due from banks (38,801) 5,558 (12,530)
Cash and due from banks at beginning of year 213,059 207,501 220,031
Cash and due from banks at end of year 174,258 213,059 207,501
Supplemental disclosures      
Interest paid 398,129 234,929 59,512
Income taxes paid 27,523 10,076 5,696
Acquisition of other real estate owned through foreclosure 119 387 327
Issuance of restricted stock awards 13,945 12,503 22,280
Supplemental schedule for investing activities      
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration 914 (3,420) 64
Total liabilities assumed 2,702 941 822
Goodwill $ 1,788 $ 4,361 $ 758