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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Statement of Cash Flows [Abstract]    
Net income $ 58,341 $ 34,944
Adjustments to reconcile net income to net cash provided by operating activities:    
(Recovery of) provision for credit losses* (627) 21,728 [1]
Depreciation of premises and equipment 2,675 2,847
Depreciation of equipment owned and leased to others 7,323 10,569
Stock-based compensation 1,726 1,519
Amortization of investment securities premiums and accretion of discounts, net 3,372 2,356
Amortization of mortgage servicing rights 1,109 1,103
Mortgage servicing rights impairment (recoveries) charges (589) 546
Amortization of right of use assets 2,270 1,410
Deferred income taxes 8,343 (7,786)
Losses (gains) on investment securities available-for-sale 680 (279)
Originations of loans held for sale, net of principal collected (135,647) (154,212)
Proceeds from the sales of loans held for sale 145,785 142,680
Net gain on sale of loans held for sale (3,706) (4,699)
Net gain on sale of other real estate and repossessions (303) (9)
Change in interest receivable 1,104 (1,851)
Change in interest payable (1,224) (4,491)
Change in other assets 2,388 2,055
Change in other liabilities (6,697) (4,828)
Other 233 755
Net Cash Provided by (Used in) Operating Activities 86,556 44,357
Investing activities:    
Proceeds from sales of investment securities available-for-sale 99,208 8,403
Proceeds from maturities and paydowns of investment securities available-for-sale 182,499 198,105
Purchases of investment securities available-for-sale (515,496) (204,415)
Net change in partnership investments (13,756) (30,356)
Net change in other investments 0 (2,205)
Loans sold or participated to others 15,903 8,004
Proceeds from principal payments on direct finance leases 20,086 25,238
Net change in loans and leases (34,519) (643,859)
Net change in equipment owned under operating leases 1,706 14,932
Purchases of premises and equipment (947) (2,126)
Proceeds from disposal of premises and equipment 28 12
Proceeds from sales of other real estate and repossessions 2,240 4,547
Net Cash Provided by (Used in) Investing Activities (243,048) (623,720)
Financing activities:    
Net change in demand deposits and savings accounts 574,114 784,580
Net change in time deposits (174,732) (148,450)
Net change in short-term borrowings 21,703 31,126
Proceeds from issuance of long-term debt 0 10,000
Payments on long-term debt (2,870) (2,343)
Stock issued under stock purchase plans 90 39
Acquisition of treasury stock (20,398) 0
Net change in noncontrolling interests 393 16,271
Cash dividends paid on common stock (15,408) (14,989)
Net change in financing activities 382,892 676,234
Net change in cash and cash equivalents 226,400 96,871
Cash and cash equivalents, beginning of year 243,047 83,365
Cash and cash equivalents, end of period 469,447 180,236
Non-cash transactions:    
Loans transferred to other real estate and repossessed assets 1,120 2,123
Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan 715 622
Right of use assets obtained in exchange for lease obligations $ 615 $ 31
[1] *ASU 2016-13 adopted during the fourth quarter of 2020 therefore June 30, 2020 provision amount reflects the incurred loss method.