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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income per consolidated statements of income $ 50,300 $ 29,211
Adjustments to reconcile net income to net cash provided by operating activities:    
PCL 1,002 (1,966)
Depreciation and amortization 7,666 10,441
Net amortization of securities 1,812 3,711
Gains on sales of loans, net (2,573) (8,315)
Compensation expense, long-term incentive plan 1,715 1,245
Deferred income tax provision 335 9,300
Proceeds from sales of loans held for sale 216,327 381,947
Purchases and originations of loans held for sale (269,863) (326,475)
Originations of mortgage servicing rights (2,646) (5,128)
Earnings on bank-owned life insurance (1,263) (1,188)
Net change in other assets 303 (15,626)
Net change in other liabilities 7,390 7,575
Other operating activities, net (7,946) (22,864)
Net cash from operating activities 2,559 61,868
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 23,930 38,822
Proceeds from maturities, prepayments and calls of securities available for sale 69,054 137,766
Purchases of securities held to maturity 0 (303,525)
Purchases of securities available for sale 0 (76,341)
Net change in federal funds sold and securities purchased under reverse repurchase agreements 4,000 0
Net change in member bank stock (27,026) (68)
Net change in LHFI and PPP loans (295,239) (134,451)
Purchases of premises and equipment (17,095) (5,987)
Proceeds from sales of premises and equipment 1,229 1,129
Proceeds from sales of other real estate 465 1,413
Purchases of software (2,716) (1,832)
Investments in tax credit and other partnerships (5,912) (1,454)
Net cash from investing activities (249,310) (344,528)
Financing Activities    
Net change in deposits 346,013 26,132
Net change in federal funds purchased and securities sold under repurchase agreements 28,649 (68,078)
Net change in short-term borrowings 449,999 0
Payments on long-term FHLB advances (5) (4)
Payments under finance lease obligations (342) (366)
Common stock dividends (14,158) (14,186)
Repurchase and retirement of common stock 0 (9,094)
Shares withheld to pay taxes, long-term incentive plan (1,048) (1,009)
Net cash from financing activities 809,108 (66,605)
Net change in cash and cash equivalents 562,357 (349,265)
Cash and cash equivalents at beginning of period 734,787 2,266,829
Cash and cash equivalents at end of period $ 1,297,144 $ 1,917,564