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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows Provided by (Used in) Operating Activities    
Net income $ 93,924 $ 93,523
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 3,764 (10,365)
Amortization of intangible assets 8,833 8,200
Amortization of mortgage servicing rights 2,757 4,202
Amortization of NMTC 4,668 4,308
Depreciation and amortization of premises and equipment 8,035 8,723
Net amortization (accretion) on portfolio loans 2,524 (4,860)
Net amortization (accretion) of premium (discount) on investment securities 15,820 17,263
Net amortization (accretion) of premium (discount) on time deposits (318) (929)
Net amortization (accretion) of premium (discount) on FHLB advances and other borrowings 1,152 620
Impairment of OREO and other repossessed assets 611 0
Impairment of fixed assets held for sale 427 0
Impairment of mortgage servicing rights (9) (542)
Impairment of leases 84 0
Unrealized (gains) losses recognized on equity securities, net 2,376 (2,482)
(Gain) loss on sales of equity securities, net (24) 0
(Gain) loss on sales of debt securities, net (28) (114)
(Gain) loss on sales of loans, net (1,777) (8,202)
(Gain) loss on sales of OREO 56 163
(Gain) loss on sales of premises and equipment (666) (1,007)
(Gain) loss on life insurance proceeds 0 (493)
(Increase) decrease in cash surrender value of bank owned life insurance (2,716) (2,946)
Provision for deferred income taxes (3) 2,326
Stock-based compensation 6,721 5,776
Mortgage loans originated for sale (63,986) (214,096)
Proceeds from sales of mortgage loans 84,732 244,356
(Increase) decrease in other assets (45,575) (17,099)
Increase (decrease) in other liabilities (3,364) (23,829)
Net cash provided by (used in) operating activities 118,018 102,496
Cash Flows Provided by (Used in) Investing Activities    
Purchases of equity securities (14,820) (11,017)
Purchases of debt securities available for sale (279,831) (2,048,554)
Proceeds from sales of equity securities 15,418 7,254
Proceeds from sales of debt securities available for sale 0 290,955
Proceeds from paydowns and maturities of debt securities held to maturity 51,552 0
Proceeds from paydowns and maturities of debt securities available for sale 370,274 641,754
Proceeds from the redemption of FHLB stock 225 0
Net cash received in (paid for) acquisitions (see Note 2) 0 228,279
Net (increase) decrease in loans (484,701) 114,729
Cash paid for premiums on bank-owned life insurance (101) (118)
Proceeds from life insurance 219 3,232
Purchases of premises and equipment (4,006) (4,041)
Proceeds from disposition of premises and equipment 4,182 6,519
Proceeds from sales of OREO 2,662 1,452
Net cash provided by (used in) investing activities (338,927) (769,556)
Cash Flows Provided by (Used in) Financing Activities    
Net increase (decrease) in deposits (166,862) 816,551
Net change in federal funds purchased and securities sold under agreements to repurchase (35,542) 48,977
Proceeds from FHLB advances 0 5,000
Repayment of FHLB advances (5,507) (4,492)
Proceeds from other borrowings, net of debt issuance costs 98,094 72,500
Repayment of other borrowings (109,000) (15,500)
Cash dividends paid (38,159) (37,953)
Purchase of treasury stock (9,912) (22,038)
Cash paid for withholding taxes on stock-based payments (878) (888)
Issuance of treasury stock for ESPP (271) 361
Common stock issuance costs 0 (150)
Net cash provided by (used in) financing activities (268,037) 862,368
Net increase (decrease) in cash and cash equivalents (488,946) 195,308
Cash and cash equivalents, beginning of period 836,095 688,537
Cash and cash equivalents, ending of period 347,149 883,845
Cash payments for:    
Interest 19,465 16,257
Income taxes 30,506 19,586
Non-cash investing and financing activities:    
OREO acquired in settlement of loans 132 228
Transfer of debt securities available for sale to held to maturity $ 985,199 $ 0