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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES:      
Net income $ 195,378 $ 201,048 $ 115,928
Adjustments to reconcile net income to net cash provided from operating activities:      
Depreciation 16,933 17,345 18,130
Deferred income and expense, net of amortization (3,757) (38,786) (15,040)
Capitalized loan servicing rights, net of amortization 1,326 (1,805) (894)
Amortization of core deposit intangibles 5,279 6,571 7,732
Loss (gain) on sale of securities, net 3,248 (482) (1,012)
Net change in valuation of financial instruments carried at fair value (807) (4,616) 656
Reinvested dividends – equity securities 0 0 (353)
Gain on sale of branches, including related deposits (7,804) 0  
Decrease (increase) in deferred taxes 7,624 16,357 (13,963)
Increase (decrease) in current taxes payable 8,250 (3,643) (2,193)
Stock-based compensation 8,870 9,258 9,168
Net change in cash surrender value of BOLI (7,100) (4,685) (5,030)
Gain on sale of loans, excluding capitalized servicing rights (4,556) (26,140) (43,304)
Loss (gain) on disposal of real estate held for sale and property and equipment, net 102 (2,305) 859
PROVISION (RECAPTURE) FOR CREDIT LOSSES 10,364 (33,388) 67,875
Provision for losses on real estate held for sale 0 0 45
Gain (Loss) on Extinguishment of Debt 765 2,284 0
Origination of loans held for sale (406,915) (1,102,663) (1,461,872)
Proceeds from sales of loans held for sale 415,635 1,276,111 1,471,828
Net change in:      
Other assets (39,028) 2,200 (27,559)
Other liabilities 34,244 (11,083) 4,385
Net cash provided from operating activities 238,051 301,578 125,386
INVESTING ACTIVITIES:      
Purchases of securities—available-for-sale (659,905) (2,805,251) (1,361,132)
Principal repayments and maturities of securities—available-for-sale 368,996 1,314,484 474,876
Proceeds from sales of securities—available-for-sale 214,335 83,663 150,374
Purchases of securities—held-to-maturity (190,645) (135,615) (222,094)
Principal repayments and maturities of securities—held-to-maturity 56,056 32,487 33,848
Purchases of equity securities 0 (4,750) (1,060,000)
Proceeds from sales of equity securities 0 4,796 1,060,695
Loan (originations) repayments, net (897,505) 795,892 (561,338)
Purchases of loans and participating interest in loans (126,556) (5,086) (2,510)
Proceeds from sales of other loans 14,034 46,028 19,469
Net cash paid related to branch divestiture (168,137) 0  
Purchases of property and equipment (14,724) (10,493) (12,803)
Proceeds from sale of real estate held for sale and sale of other property 6,088 11,759 8,893
Proceeds from FHLB stock repurchase program 15,080 4,358 52,169
Purchase of FHLB stock (15,080) 0 (40,185)
Purchase of securities purchased under agreements to resell 0 (300,000) 0
Investment in bank-owned life insurance (50,053) (50,053) (83)
Other 3,459 2,355 5,197
Net cash used by investing activities (1,444,557) (1,015,426) (1,454,624)
FINANCING ACTIVITIES:      
(Decrease) increase in deposits, net (528,672) 1,759,638 2,518,654
Repayment of long term FHLB borrowing (50,000) (100,000) 0
Advances (repayments) of overnight and short-term FHLB borrowings, net 50,000 0 (300,000)
(Decrease) increase in other borrowings, net (31,690) 79,704 66,311
Net proceeds from issuance of subordinated notes 0 0 98,027
Repayment of junior subordinated debentures (50,518) (8,248) 0
Proceeds from redemption of trust securities related to junior subordinated debentures 1,518 248 0
Cash dividends paid (61,078) (57,621) (94,078)
Cash paid for repurchase of common stock (10,960) (56,528) (31,775)
Taxes paid related to net share settlement for equity awards (3,332) (3,228) (1,453)
Net cash (used by) provided from financing activities (684,732) 1,613,965 2,255,686
NET CHANGE IN CASH AND CASH EQUIVALENTS (1,891,238) 900,117 926,448
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,134,300 1,234,183 307,735
CASH AND CASH EQUIVALENTS, END OF YEAR 243,062 2,134,300 1,234,183
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Interest paid in cash 18,583 24,278 40,942
Taxes paid 24,885 29,017 39,672
NON-CASH INVESTING AND FINANCING TRANSACTIONS:      
Transfer of loans to real estate owned and other repossessed assets 0 512 1,602
Dividends accrued but not paid until after period end 1,158 1,338 1,357
Transfer of Loans Held-for-sale to Portfolio Loans 35,466 0 0
Securities, available-for-sale, transferred to held-to-maturity 462,159 0 0
DISPOSITIONS:      
Assets divested (1,539) 0 0
Liabilities divested $ (178,209) $ 0 $ 0