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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net Income (Loss) $ 41,535 $ 50,300
Adjustments to reconcile net income to net cash provided by operating activities:    
PCL 7,516 1,002
Depreciation and amortization 8,563 7,666
Net amortization of securities 1,373 1,812
Gains on sales of loans, net (5,010) (2,573)
Compensation expense, long-term incentive plan 2,238 1,715
Deferred income tax provision 28,490 335
Proceeds from sales of loans held for sale 263,634 216,327
Purchases and originations of loans held for sale (247,476) (269,863)
Originations of mortgage servicing rights (2,977) (2,646)
Earnings on bank-owned life insurance (1,420) (1,263)
Net change in other assets (21,036) 303
Net change in other liabilities (127,283) 7,390
Other operating activities, net (6,690) (7,946)
Net cash from operating activities (58,543) 2,559
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 24,000 23,930
Proceeds from maturities, prepayments and calls of securities available for sale 56,706 69,054
Purchases of securities held to maturity (9,136) 0
Net change in federal funds sold and securities purchased under reverse repurchase agreements 0 4,000
Net change in member bank stock (743) (27,026)
Net change in LHFI (114,096) (295,239)
Purchases of premises and equipment (5,050) (17,095)
Proceeds from sales of premises and equipment 0 1,229
Proceeds from sales of other real estate 902 465
Purchases of software (2,044) (2,716)
Investments in tax credit and other partnerships (1,848) (5,912)
Net cash from investing activities (51,309) (249,310)
Financing Activities    
Net change in deposits (231,206) 346,013
Net change in federal funds purchased and securities sold under repurchase agreements (12,530) 28,649
Net change in short-term borrowings 0 449,999
Payments on long-term FHLB advances (5) (5)
Payments under finance lease obligations (99) (342)
Common stock dividends (14,207) (14,158)
Shares withheld to pay taxes, long-term incentive plan (1,383) (1,048)
Net cash from financing activities (259,430) 809,108
Net change in cash and cash equivalents (369,282) 562,357
Cash and cash equivalents at beginning of period 975,543 734,787
Cash and cash equivalents at end of period $ 606,261 $ 1,297,144