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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net Income (Loss) $ 129,366 $ 105,950
Adjustments to reconcile net income to net cash provided by operating activities:    
PCL 17,884 10,775
Depreciation and amortization 26,129 30,354
Net amortization of securities 4,590 9,096
Gains on sales of loans, net (10,923) (20,674)
Compensation expense, long-term incentive plan 4,772 3,714
Deferred income tax provision (470) 12,000
Proceeds from sales of loans held for sale 903,938 1,046,999
Purchases and originations of loans held for sale (934,136) (932,601)
Originations of mortgage servicing rights (11,025) (14,452)
Earnings on bank-owned life insurance (3,868) (3,639)
Net change in other assets 5,043 (21,585)
Net change in other liabilities 9,922 63,048
Other operating activities, net (8,520) (60,519)
Net cash from operating activities 132,702 228,466
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 79,680 98,211
Proceeds from maturities, prepayments and calls of securities available for sale 237,752 358,130
Purchases of securities held to maturity (11,843) (600,933)
Purchases of securities available for sale 0 (230,527)
Net proceeds from bank-owned life insurance (27) (307)
Net change in federal funds sold and securities purchased under reverse repurchase agreements 4,000 10,098
Net change in member bank stock (3,358) 5,467
Net change in LHFI and PPP loans (617,614) (1,310,309)
Purchases of premises and equipment (33,105) (20,656)
Proceeds from sales of premises and equipment 1,828 4,926
Proceeds from sales of other real estate 1,744 2,038
Purchases of software (7,544) (5,487)
Investments in tax credit and other partnerships (11,041) (20,042)
Net cash from investing activities (359,528) (1,739,907)
Financing Activities    
Net change in deposits 664,275 (661,980)
Net change in federal funds purchased and securities sold under repurchase agreements (127,532) 305,491
Net change in short-term borrowings (250,000) 150,000
Payments on long-term FHLB advances (15) (14)
Payments under finance lease obligations (627) (1,070)
Common stock dividends (42,488) (42,556)
Repurchase and retirement of common stock 0 (24,604)
Shares withheld to pay taxes, long-term incentive plan (1,082) (1,018)
Net cash from financing activities 242,531 275,751
Net change in cash and cash equivalents 15,705 1,787,192
Cash and cash equivalents at beginning of period 734,787 2,266,829
Cash and cash equivalents at end of period $ 750,492 $ 479,637