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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net Income (Loss) $ 53,633 $ 41,535
Adjustments to reconcile net income to net cash provided by operating activities:    
PCL 5,294 7,516
Depreciation and amortization 8,571 8,563
Net (accretion) amortization of securities (5,912) 1,373
Gains on sales of loans, net (4,252) (5,010)
Compensation expense, long-term incentive plan 2,471 2,238
Deferred income tax provision (1,050) 28,490
Proceeds from sales of loans held for sale 260,005 263,634
Purchases and originations of loans held for sale (245,760) (247,476)
Originations of mortgage servicing rights (3,068) (2,977)
Earnings on bank-owned life insurance (1,865) (1,420)
Net change in other assets 24,872 (21,036)
Net change in other liabilities (12,430) (127,283)
Other operating activities, net 1,909 (6,690)
Net cash from operating activities 82,418 (58,543)
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 23,738 24,000
Proceeds from maturities, prepayments and calls of securities available for sale 52,559 56,706
Purchases of securities held to maturity 0 (9,136)
Purchases of securities available for sale (58,955) 0
Net proceeds from bank-owned life insurance 644 0
Net change in member bank stock (2,374) (743)
Net change in LHFI (156,339) (114,096)
Purchases of premises and equipment (1,772) (5,050)
Proceeds from sales of premises and equipment 3,229 0
Proceeds from sales of other real estate 801 902
Purchases of software (2,511) (2,044)
Investments in tax credit and other partnerships (2,655) (1,848)
Net cash from investing activities (143,635) (51,309)
Financing Activities    
Net change in deposits (27,471) (231,206)
Net change in federal funds purchased and securities sold under repurchase agreements 36,072 (12,530)
Net change in short-term borrowings 105,000 0
Payments on long-term FHLB advances 0 (5)
Payments under finance lease obligations (112) (99)
Common stock dividends (14,732) (14,207)
Repurchase and retirement of common stock (15,014) 0
Shares withheld to pay taxes, long-term incentive plan (2,415) (1,383)
Net cash from financing activities 81,328 (259,430)
Net change in cash and cash equivalents 20,111 (369,282)
Cash and cash equivalents at beginning of period 567,251 975,343
Cash and cash equivalents at end of period $ 587,362 $ 606,061