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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 43,962 $ 48,559
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 3,247 3,264
Provision benefit for credit losses on loans and securities (6,405) (15,001)
Credit loss benefit for off-balance sheet credit exposure (2,390) (875)
Deferred tax expense 10,625 6,271
Amortization of operating lease right-of-use assets 2,807 2,812
Income on Bank-owned life insurance (1,179) (2,567)
Net amortization of premiums and discounts on securities 3,844 3,110
Accretion of net deferred loan fees (2,438) (5,487)
Amortization of premiums on purchased loans, net 71 190
Net increase in loans originated for sale 0 (14,492)
Proceeds from sales of loans originated for sale 0 15,260
Proceeds from sales and paydowns of foreclosed assets 200 569
ESOP expense 1,143 913
Allocation of stock award shares 2,311 959
Allocation of stock options 49 53
Net gain on sale of loans 0 (768)
Net gain on securities transactions (16) (197)
Net gain on sale of premises and equipment (8) (15)
Net gain on sale of foreclosed assets 0 (170)
Decrease (increase) in accrued interest receivable 957 (2,567)
(Increase) decrease in other assets (6,718) 41,160
Increase (decrease) in other liabilities 1,073 (44,565)
Net cash provided by operating activities 51,135 36,416
Cash flows from investing activities:    
Proceeds from maturities, calls and paydowns of held to maturity debt securities 16,694 10,236
Purchases of held to maturity debt securities (2,941) (7,541)
Proceeds from sales of securities 0 9,442
Proceeds from maturities and paydowns of available for sale debt securities 84,128 90,807
Purchases of available for sale debt securities (218,082) (226,417)
Proceeds from redemption of Federal Home Loan Bank stock 10,317 12,147
Purchases of Federal Home Loan Bank stock 0 (1,656)
Purchases of loans 2,610 0
Net (increase) decrease in loans (76,328) 24,217
Proceeds from sales of premises and equipment 8 15
Purchases of premises and equipment (8,843) (1,846)
Net cash used in investing activities (192,437) (90,596)
Cash flows from financing activities:    
Net increase in deposits 132,075 459,684
Increase in mortgage escrow deposits 5,744 3,474
Cash dividends paid to stockholders (18,688) (18,075)
Purchase of treasury stock (29,025) (48)
Purchase of employee restricted shares to fund statutory tax withholding (953) (915)
Stock options exercised 0 638
Proceeds from long-term borrowings 0 400,000
Payments on long-term borrowings (229,111) (619,265)
Net increase (decrease) in short-term borrowings 1,943 (16,096)
Net cash (used in) provided by financing activities (138,015) 209,397
Net (decrease) increase in cash and cash equivalents (279,317) 155,217
Cash and cash equivalents at beginning of period 685,163 418,083
Restricted cash at beginning of period 27,300 114,270
Total cash, cash equivalents and restricted cash at beginning of period 433,146 687,570
Cash and cash equivalents at end of period 428,326 644,940
Restricted cash at end of period 4,820 42,630
Total cash, cash equivalents and restricted cash at end of period 712,463 532,353
Cash paid during the period for:    
Interest on deposits and borrowings 7,084 10,399
Income taxes 560 270
Non-cash investing activities:    
Transfer of loans receivable to foreclosed assets $ 47 $ 434