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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Cash flows from operating activities: |  |
Net cash provided by (used in) operating activities | $ 186,769 | $ 82,916
Cash flows from investing activities: |  |
Proceeds from sale of property and equipment | 9 | 50
Purchases of property and equipment | (1,227) | (3,298)
Purchases of equity securities | (2,006) | (977)
Purchases of available-for-sale debt securities | (75,009) | (109,615)
Proceeds from sales of equity securities | 0 | 2,910
Proceeds from sales of available-for-sale debt securities | 4,610 | 3,700
Maturities of available-for-sale debt securities | 32,075 | 32,849
Net cash provided by (used in) investing activities | (41,548) | (74,381)
Cash flows from financing activities: |  |
Preferred stock dividend | (3) | (3)
Common stock dividend | (4,841) | (4,639)
Purchase of treasury stock inclusive of excise taxes paid | 0 | (4,508)
Payments related to tax withholding for share-based compensation | (1,267) | 0
Repayment of debt | (367) | (368)
Net cash provided by (used in) financing activities | (6,478) | (9,518)
Cash and cash equivalents and restricted cash and cash equivalents: |  |
Net increase (decrease) during the period | 138,743 | (983)
Balance, beginning of period | 262,076 | 399,941
Balance, end of period | $ 400,819 | $ 398,958

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- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4 + Details
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