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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 294,083,000 $ 305,392,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense 30,351,000 27,879,000
Specific reserve, other real estate owned 371,000 2,510,000
Depreciation of bank premises and equipment 16,938,000 16,362,000
Gain on sale of bank premises and equipment (353,000) (198,000)
Loss (gain) on sale of other real estate owned 166,000 (6,833,000)
Accretion of investment securities discounts (1,977,000) (1,431,000)
Amortization of investment securities premiums 4,185,000 5,244,000
Investment securities transactions, net 1,000 3,000
Unrealized (gain) loss on equity securities with readily determinable fair values (121,000) 200,000
Stock based compensation expense 169,000 255,000
Earnings from affiliates and other investments (5,562,000) (367,000)
Deferred tax expense 10,259,000 4,747,000
Increase in accrued interest receivable (7,573,000) (11,872,000)
Increase in other assets (5,546,000) (38,158,000)
Increase in other liabilities 23,675,000 37,927,000
Net cash provided by operating activities 359,066,000 341,660,000
Investing activities:    
Proceeds from maturities of securities 2,075,000 51,167,000
Proceeds from sales and calls of available for sale securities 3,750,000 2,045,000
Purchases of available for sale securities (610,182,000) (980,571,000)
Principal collected on mortgage backed securities 581,867,000 474,282,000
Net increase in loans (562,585,000) (471,695,000)
Purchases of other investments (33,077,000) (25,431,000)
Distributions from other investments 29,158,000 8,773,000
Purchases of bank premises and equipment (15,793,000) (19,079,000)
Proceeds from sales of bank premises and equipment 583,000 269,000
Proceeds from sales of other real estate owned 1,249,000 7,777,000
Net cash used in investing activities (602,955,000) (952,463,000)
Financing activities:    
Net decrease in non-interest bearing demand deposits (308,918,000) (629,637,000)
Net increase (decrease) in savings and interest bearing demand deposits 208,835,000 (388,433,000)
Net increase in time deposits 376,584,000 274,672,000
Net increase in securities sold under repurchase agreements 175,842,000 73,090,000
Net decrease in other borrowed funds (152,000) (148,000)
Redemption of long-term debt   (25,774,000)
Purchase of treasury stock (742,000) (4,487,000)
Proceeds from stock transactions 3,296,000 654,000
Payments of cash dividends (82,078,000) (78,247,000)
Net cash provided by (used in) financing activities 372,667,000 (778,310,000)
Increase (decrease) in cash and cash equivalents 128,778,000 (1,389,113,000)
Cash and cash equivalents at beginning of period 651,058,000 2,087,724,000
Cash and cash equivalents at end of period 779,836,000 698,611,000
Supplemental cash flow information:    
Interest paid 149,295,000 77,834,000
Income taxes paid 49,239,000 69,799,000
Non-cash investing and financing activities:    
Purchases of available-for-sale securities not yet settled 60,000,000  
Net transfers from loans to other real estate owned $ 3,200,000 $ 554,000