XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES:    
Net income $ 66,708 $ 69,376
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and net amortization 7,518 7,972
Securities premium amortization (discount accretion), net 4,657 3,791
Loan (discount accretion) premium amortization, net 298 296
Provision for (reversal of) credit losses 1,962 6,873
Stock compensation expense 2,504 2,713
Deferred tax expense (benefit) (878) (1,868)
Net (gain) loss on sale of AFS securities 2,510 5,590
Net gain on sale of equity securities 0 (5,058)
Loss on impairment of investments 868 0
Net loss on premises and equipment 28 106
Gross proceeds from sales of loans held for sale 13,423 12,941
Gross originations of loans held for sale (11,289) (13,656)
Net (gain) loss on consumer receivables 412 0
Net (gain) loss on OREO 95 (53)
Gain on purchase of subordinated notes (178) (587)
Net change in:    
Interest receivable 12,601 9,704
Other assets (39,564) (5,665)
Interest payable (449) 10,545
Other liabilities 1,815 33,434
Net cash provided by (used in) operating activities 63,041 136,454
Securities AFS:    
Purchases (752,237) (1,137,694)
Sales 126,248 747,434
Maturities, calls and principal repayments 545,836 324,964
Securities HTM:    
Maturities, calls and principal repayments 20,951 21,010
Proceeds from sales of equity securities 0 6,679
Proceeds from redemption of FHLB stock and equity investments 56,115 30,767
Purchases of FHLB stock and equity investments (84,501) (34,249)
Net loan paydowns (originations) (50,985) (274,843)
Proceeds from sales of customer receivables 7,600 0
Purchases of premises and equipment (6,094) (5,071)
Proceeds from (purchases of) BOLI 4,035 951
Proceeds from sales of premises and equipment 17 430
Net proceeds from sales of OREO 278 146
Proceeds from sales of repossessed assets 114 168
Net cash provided by (used in) investing activities (132,623) (319,308)
FINANCING ACTIVITIES:    
Net change in deposits (114,005) 151,446
Net change in other borrowings (404,010) 174,056
Proceeds from FHLB borrowings 6,068,951 1,659,000
Repayment of FHLB borrowings (5,521,553) (1,599,529)
Purchase/redemption of subordinated notes (1,805) (4,365)
Proceeds from stock option exercises 1,403 705
Cash paid to tax authority related to tax withholding on share-based awards (286) (281)
Purchase of common stock (1,510) (40,120)
Proceeds from the issuance of common stock for dividend reinvestment plan 886 908
Cash dividends paid (32,702) (32,395)
Net cash provided by (used in) financing activities (4,631) 309,425
Net increase (decrease) in cash and cash equivalents (74,213) 126,571
Cash and cash equivalents at beginning of period 560,510 199,252
Cash and cash equivalents at end of period 486,297 325,823
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:    
Interest paid 150,676 89,715
Income taxes paid 12,000 12,250
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Loans transferred to other repossessed assets and real estate through foreclosure 806 127
Unsettled trades to purchase securities 19,904 24,917
Unsettled trades to repurchase common stock $ 0 $ 541