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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 177,633 $ 187,481
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 15,500 21,300
Depreciation, amortization and accretion, net 28,570 32,425
Deferred income tax benefit (1,224) (13,322)
Stock-based compensation 9,771 7,163
Gain on property insurance proceeds (2,559)  
Other (gains) losses (566) 1,243
Originations of loans held for sale (28,866) (11,483)
Proceeds from sales of loans held for sale 28,572 12,613
Change in assets and liabilities:    
Net decrease in other assets (46,511) 20,495
Net decrease in other liabilities 23,368 (44,095)
Net cash provided by operating activities 203,688 213,820
Available-for-sale securities:    
Proceeds from maturities and principal repayments 222,716 345,798
Proceeds from calls and sales 41,350 25,236
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 216,595 238,722
Proceeds from calls 1,615 7,950
Other investments:    
Proceeds from sales 14,926 78,746
Purchases (28,064) (102,639)
Loans:    
Net decrease (increase) in loans and leases resulting from originations and principal repayments 120,579 (214,539)
Proceeds from sales of loans originated for investment 27,526  
Purchases of loans (18,012) (48,911)
Proceeds from bank-owned life insurance 1,920 5,632
Proceeds from property insurance 2,559  
Purchases of premises, equipment and software (17,419) (8,283)
Other 104 313
Net cash provided by investing activities 586,395 328,025
Cash flows from financing activities    
Net decrease in deposits (1,104,955) (177,540)
Proceeds of short-term borrowings 250,000  
Repayment of short-term borrowings 500,000  
Net decrease in other short-term borrowings   (75,000)
Proceeds from long-term borrowings   500,000
Dividends paid (99,655) (99,468)
Stock tendered for payment of withholding taxes (2,699) (3,196)
Proceeds from employee stock purchase plan 141 163
Net cash (used in) provided by financing activities (1,457,168) 144,959
Net (decrease) increase in cash and cash equivalents (667,085) 686,804
Cash and cash equivalents at beginning of year 1,739,897 526,624
Cash and cash equivalents at end of year 1,072,812 1,213,428
Supplemental disclosures    
Interest paid 280,018 173,712
Income taxes paid, net of income tax refunds 39,568 50,098
Noncash investing and financing activities:    
Operating lease right-of-use assets obtained in exchange for new lease obligations 3,372 3,239
Transfers to loans held for sale from loans and leases 27,096 1,133
Obligation to fund low-income housing partnerships $ 56,640 $ 25,836