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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net income $ 72,664 $ 74,457
Reconciliation of net income to net cash provided by operating activities:    
Provision for credit losses 15,941 14,864
Net security premium amortization 6,700 7,082
Deferred income taxes, net (5,814) (2,839)
Loan discount accretion (8,060) (10,354)
Deposit and debt discount accretion, net 1,253 3,241
Foreclosed property gains, net (214) (131)
Securities losses, net 1,161 0
Other (gains) losses, net (504) (1,402)
Bank-owned life insurance income (3,548) (3,216)
Net amortization of deferred loan costs/(fees) (975) (1,087)
Depreciation of premises and equipment 5,884 5,583
Amortization of operating lease right-of-use assets 1,420 1,559
Repayments of lease obligations (1,360) (1,473)
Stock-based compensation expense 3,458 3,972
Amortization of intangible assets 5,041 6,147
Amortization and impairment of SBA servicing assets 1,248 952
Gains on sale of loans (4,955) (3,340)
Origination of presold mortgage loans and SBA loans held for sale (120,281) (107,878)
Proceeds from sales of presold mortgage loans and SBA loans 131,430 92,162
Decrease (increase) in accrued interest receivable 4,461 1,033
(Increase) decrease in other assets (2,527) 10,713
(Decrease) increase in accrued interest payable (133) 2,391
Increase (decrease) in other liabilities 3,762 793
Net cash provided by (used in) operating activities 106,052 93,229
Cash Flows From Investing Activities    
Proceeds from maturities, calls and principal repayments of securities available for sale 204,848 133,341
Proceeds from maturities, calls and principal repayments of securities held to maturity 7,567 2,807
Proceeds from sales of securities available for sale 138,182 111,863
Proceeds from sale of VISA B shares 4,522 0
Purchases of Federal Reserve and FHLB stock (39,553) (61,162)
Redemptions of Federal Reserve and FHLB stock 52,810 45,372
Proceeds from bank owned life insurance death benefits 209 136
Purchases of other investments (1,858) (7,460)
Net decrease (increase) in loans 125,241 (347,419)
Proceeds from sales of foreclosed properties 687 554
Purchases of premises and equipment (2,159) (3,201)
Proceeds from sales of premises and equipment 754 59
Net cash received in acquisition activities 0 22,610
Net cash provided by (used in) investing activities 491,250 (102,500)
Cash Flows From Financing Activities    
Net increase (decrease) in deposits 472,649 (40,040)
Proceeds from the issuance of other borrowings 986,000 1,665,000
Repayment of other borrowings (1,515,036) (1,590,099)
Repayment of subordinated debentures (10,000) 0
Cash dividends paid – common stock (27,154) (25,902)
Proceeds from stock option exercises 3,429 3,769
Payment of taxes related to stock withheld (604) (186)
Net cash (used) provided by financing activities (90,716) 12,542
Increase (decrease) in cash and cash equivalents 506,586 3,271
Cash and cash equivalents, beginning of period 237,855 270,318
Cash and cash equivalents, end of period 744,441 273,589
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 142,610 92,383
Cash paid during the period for income taxes 26,084 21,856
Non-cash: Unrealized gain (loss) on securities available for sale, net of taxes 53,166 (58,878)
Non-cash: Foreclosed loans transferred to other real estate 1,066 1,000
Non-cash: Accrued dividends at end of period 9,093 9,039
Non-cash: Cancellation of operating lease right-of-use assets and operating lease liabilities (1,497) 0
Non-cash: Initial recognition of operating lease right-of-use assets and operating lease liabilities 0 260
Non-cash: Revision of operating lease right-of-use assets and operating lease liabilities $ 0 $ (562)