XML 19 R9.htm IDEA: XBRL DOCUMENT v3.24.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 57,526 $ 72,840
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit loss expense 2,776 2,600
Depreciation and amortization 12,023 11,377
Change in current income tax receivable (502) 2,384
Change in deferred income taxes (638) (618)
Discount accretion, net of premium amortization on securities (847) (468)
Gain on sale of mortgages, net (5,007) (5,217)
Origination of loans held for sale, net of repayments (162,166) (219,358)
Proceeds from sales of loans held for sale 165,781 217,524
Originations of mortgage servicing rights (204) (808)
Gain on sale of fixed assets (637) (137)
Stock-based compensation 3,665 3,646
Operating lease payments (3,278) (3,035)
Change in other assets (15,344) 1,340
Change in other liabilities 8,727 (7,874)
Net cash provided by operating activities 61,875 74,196
Cash flows from investing activities:    
Proceeds from non-marketable securities 30,769 73,418
Proceeds from maturities and paydowns of investment securities available-for-sale 72,110 47,550
Proceeds from maturities and paydowns of investment securities held-to-maturity 30,686 34,891
Proceeds from sales of other real estate owned 2,370 249
Purchases of non-marketable securities (16,925) (77,067)
Purchases of investment securities available-for-sale (138,443) 0
Purchases of investment securities held-to-maturity 0 (2,452)
Purchases of premises and equipment, net (18,776) (16,436)
Net decrease (increase) in loans 70,287 (190,288)
Net cash activity from acquisitions   (45,300)
Net cash provided by (used in) investing activities 32,078 (175,435)
Cash flows from financing activities:    
Net increase in deposits 186,329 247,861
Net (decrease) increase in repurchase agreements and other short-term borrowings (162) 1,208
Advances from the Federal Home Loan Bank 664,610 2,295,000
Federal Home Loan Bank repayments (969,610) (2,295,000)
Issuance of stock under purchase and equity compensation plans (1,551) (1,531)
Proceeds from exercise of stock options 204 15
Payment of dividends (21,106) (19,501)
Net cash (used in) provided by financing activities (141,286) 228,052
(Decrease) increase in cash, cash equivalents and restricted cash(1) (47,333) 126,813
Cash, cash equivalents and restricted cash at beginning of the year(1) 192,326 198,519
Cash, cash equivalents and restricted cash at end of period(1) 144,993 325,332
Supplemental disclosure of cash flow information during the period:    
Cash paid for interest 94,708 43,999
Net tax payments 12,827 16,557
Supplemental schedule of non-cash activities:    
Increase in loans purchased but not settled 98,231  
Loans transferred from loans held for sale to loans $ 1,459 $ 4,646