XML 19 R9.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 57,934 $ 78,228
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 7,697 8,277
Allocation of ESOP stock 860 798
Stock compensation 3,415 4,515
Net excess tax expense on stock compensation 195 365
Amortization of servicing asset 295 261
Net (discount) premium amortization in excess of discount accretion on securities (366) 561
Net amortization of deferred costs on borrowings 239 463
Amortization of intangibles 2,746 2,457
Net accretion of purchase accounting adjustments (1,220) (2,826)
Net amortization of deferred fees/costs and premiums/discounts on loans (7,058) (1,574)
Provision for credit losses 12,471 4,222
Net loss (gain) on sale of fixed assets 2 (131)
Net loss on sales of available-for-sale securities 64 106
Net gain on equity investments (686) (4,230)
Net gain on sales of loans (2,935) (1,282)
Proceeds from sales of residential loans held for sale 396,092 141,588
Residential loans originated for sale (389,712) (158,176)
Write down of other real estate owned 198 0
Increase in value of bank owned life insurance (5,412) (4,796)
Net gain on sale of assets held for sale 0 (855)
(Increase) decrease in interest and dividends receivable (1,692) 3,053
Deferred tax (benefit) provision (25) 935
Decrease in other assets 34,662 19,330
(Decrease) increase in other liabilities (56,556) (43,849)
Total adjustments (6,726) (30,788)
Net cash provided by operating activities 51,208 47,440
Cash flows from investing activities:    
Net (increase) decrease in loans receivable (426,420) 173,444
Proceeds from sales of non-performing loans 6,361 0
Purchase of loan pools (26,859) 0
Discounts received on purchased loan pool 2,562 0
Purchase of debt securities available-for-sale (757,723) (243,795)
Purchase of debt securities held-to-maturity 0 (6,971)
Purchase of equity investments (6,620) (3,032)
Proceeds from maturities and calls of debt securities available-for-sale 5,600 15,870
Proceeds from maturities and calls of debt securities held-to-maturity 44,458 19,202
Proceeds from sales of debt securities available-for-sale 99,187 2,121
Proceeds from calls and sales of equity investments 365 11,256
Principal repayments on debt securities available-for-sale 218,194 78,413
Principal repayments on debt securities held-to-maturity 83,819 73,799
Proceeds from bank owned life insurance 6,484 2,156
Proceeds from the redemption of restricted equity investments 209,026 71,927
Purchases of restricted equity investments (242,790) (76,706)
Proceeds from sale of other real estate owned 912 0
Proceeds from sales of assets held-for-sale 0 883
Purchases of premises and equipment (4,819) (5,949)
Proceeds from disposal of premises and equipment 0 3,380
Net cash consideration paid for acquisition 0 (1,000)
Net cash (used in) provided by investing activities (788,263) 114,998
Cash flows from financing activities:    
Increase (decrease) in deposits 369,654 (318,686)
Increase in short-term borrowings 4,247 7,949
Net proceeds from FHLB advances 632,974 43,224
Net proceeds from other borrowings 0 222,662
Increase in advances by borrowers for taxes and insurance 677 4,875
Exercise of stock options 178 48
Payment of employee taxes withheld from stock awards and phantom stock units (1,383) (2,354)
Purchase of treasury stock (24,350) (21,481)
Dividends paid (36,796) (38,222)
Redemption of preferred stock (57,370) 0
Distributions to non-controlling interest (266) 0
Net cash provided by (used in) provided by financing activities 887,565 (101,985)
Net increase in cash and due from banks and restricted cash 150,510 60,453
Cash and due from banks and restricted cash at beginning of period 123,615 153,718
Cash and due from banks and restricted cash at end of period 274,125 214,171
Supplemental Disclosure of Cash Flow Information:    
Cash and due from banks at beginning of period 123,615 153,718
Restricted cash at beginning of period 0 0
Cash and due from banks and restricted cash at beginning of period 123,615 153,718
Cash and due from banks at end of period 274,125 214,171
Restricted cash at end of period 0 0
Cash and due from banks and restricted cash at end of period 274,125 214,171
Cash paid during the period for:    
Interest 205,654 219,314
Income taxes 17,661 26,890
Non-cash activities:    
Accretion of unrealized loss on securities reclassified to held-to-maturity 388 305
Net loan charge-offs 3,471 1,713
Transfer of securities from held-to-maturity to available-for-sale 0 500
Transfer of loans receivable to other real estate owned 6,797 0
Transfer of loans receivable to loans held-for-sale $ 6,361 $ 0