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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 136,707 $ 164,970
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 7,480 8,081
Provision for credit losses 917 (36,502)
Share-based compensation expense 9,835 6,562
Loss on sales and disposals of premises and equipment 38 71
Net amortization on securities 9,874 11,219
Net (accretion) of discounts/premiums for acquired loans and deferred loan fees/costs (15,776) (21,409)
Gain on sales of investment securities available-for-sale (2,103) (9,131)
Loss on debt extinguishment 0 1,150
Gain on sales of loans (2,630) (1,907)
Deferred income tax expense 6,336 20,647
Income from bank owned life insurance, net (5,241) (3,388)
Amortization of intangible assets 7,071 8,144
Originations of loans held for sale (33,778) (20,264)
Proceeds from the sales of and principal payments from loans held for sale 44,320 17,609
Change in accrued expenses and other liabilities, net (14,127) (22,500)
Change in accrued interest receivable and other assets, net 61,455 47,069
Net cash provided by operating activities 210,378 170,421
Cash flows from investing activities:    
Net decrease in interest-bearing time deposits with financial institutions 0 137
Loan originations and payments, net (791,918) (339,184)
Proceeds from loans held for sale previously classified as portfolio loans 0 449
Purchase of loans held for investment (797) 0
Proceeds from prepayments and maturities of securities held-to-maturity 10,242 4,790
Purchase of securities available-for-sale (583,329) (1,331,037)
Proceeds from prepayments and maturities of securities available-for-sale 184,974 273,521
Proceeds from sales of securities available-for-sale 705,729 464,651
Proceeds from the sales of premises and equipment 0 13
Proceeds from surrender of bank owned life insurance 0 1,307
Purchase of bank owned life insurance 0 (150,000)
Purchase of premises and equipment (4,045) (3,102)
Change in FHLB, FRB, and other stock, at cost (2,243) 86
Funding of CRA investments, net (1,442) (13,603)
Net cash used in investing activities (482,829) (1,091,972)
Cash flows from financing activities:    
Net increase in deposit accounts 969,024 800,920
Net change in short-term borrowings (358,000) (10,000)
Proceeds from long-term borrowings 400,000 0
Repayments of long-term borrowings 0 (21,503)
Redemption of junior subordinated debt securities 0 (25,750)
Cash dividends paid (62,469) (59,521)
Repurchase and retirement of common stock 0 (6,897)
Proceeds from exercise of stock options 665 732
Restricted stock surrendered and canceled (8,674) (5,308)
Net cash provided by financing activities 940,546 672,673
Net increase (decrease) in cash and cash equivalents 668,095 (248,878)
Cash and cash equivalents, beginning of period 304,703 880,766
Cash and cash equivalents, end of period 972,798 631,888
Supplemental cash flow disclosures:    
Interest paid 16,640 21,614
Income taxes paid, net 31,433 35,211
Noncash investing activities during the period:    
Transfers of investment securities from available-for-sale to held-to-maturity 1,019,472 0
Recognition of operating lease right-of-use assets (1,183) 0
Recognition of operating lease liabilities 1,183 0
Due on unsettled security purchases $ (30,149) $ (12,830)