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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 116,141 $ 129,260
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 8,100 13,800
Depreciation, amortization and accretion, net 18,735 21,985
Deferred income tax provision (benefit) 3,464 (2,024)
Stock-based compensation 6,549 4,730
Gain on property insurance proceeds (2,559)  
Other (gains) losses (52) 1,122
Originations of loans held for sale (20,181) (5,613)
Proceeds from sales of loans held for sale 17,481 6,726
Net losses on sales of loans originated for investment and held for sale   20
Change in assets and liabilities:    
Net decrease in other assets 7,317 29,087
Net decrease in other liabilities (10,182) (11,483)
Net cash provided by operating activities 144,813 187,610
Available-for-sale securities:    
Proceeds from maturities and principal repayments 145,037 223,102
Proceeds from calls and sales 32,500 25,237
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 141,502 153,133
Proceeds from calls 1,250 7,705
Other investments:    
Proceeds from sales 3,324 61,985
Purchases (21,750) (81,240)
Loans:    
Net decrease (increase) in loans and leases resulting from originations and principal repayments 8,477 (240,357)
Proceeds from sales of loans originated for investment 27,526  
Purchases of loans (17,995) (48,741)
Proceeds from bank-owned life insurance 1,292 5,281
Proceeds from property insurance 2,559  
Purchases of premises, equipment and software (10,848) (4,191)
Proceeds from sales of other real estate owned 104 34
Other   (2,882)
Net cash provided by investing activities 312,978 99,066
Cash flows from financing activities    
Net decrease in deposits (1,013,825) (610,863)
Net decrease in short-term borrowings   (75,000)
Proceeds from long-term borrowings   500,000
Dividends paid (66,406) (66,290)
Stock tendered for payment of withholding taxes (2,698) (3,179)
Proceeds from employee stock purchase plan   163
Net cash used in financing activities (1,082,929) (255,169)
Net (decrease) increase in cash and cash equivalents (625,138) 31,507
Cash and cash equivalents at beginning of year 1,739,897 526,624
Cash and cash equivalents at end of year 1,114,759 558,131
Supplemental disclosures    
Interest paid 178,718 97,867
Income taxes paid, net of income tax refunds 26,817 29,928
Noncash investing and financing activities:    
Transfers from loans and leases and other assets to other real estate owned 69  
Operating lease right-of-use assets obtained in exchange for new lease obligations   1,680
Transfers to loans held for sale from loans and leases 27,526 $ 1,133
Obligation to fund low-income housing partnerships $ 30,685