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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 59,248 $ 54,220
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 10,500 6,300
Depreciation, amortization and accretion, net 8,405 9,537
Deferred income tax provision 6,359 7,238
Stock-based compensation 4,032 3,242
Gain on property insurance proceeds   (2,202)
Other losses (gains) 23 (7)
Originations of loans held for sale (4,048) (8,624)
Proceeds from sales of loans held for sale 2,438 8,791
Net gains on investment securities (37)  
Change in assets and liabilities:    
Net (increase) decrease in other assets (18,704) 11,782
Net decrease in other liabilities (31,499) (23,637)
Net cash provided by operating activities 36,717 66,640
Available-for-sale securities:    
Proceeds from maturities and principal repayments 62,537 81,385
Proceeds from calls and sales 36,835 10,000
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 70,468 62,525
Proceeds from calls 3,375 345
Other investments:    
Proceeds from sales 415 1,234
Purchases (7,117) (12,618)
Loans:    
Net decrease in loans and leases resulting from originations and principal repayments 120,825 41,387
Purchases of loans (3,995) (15,000)
Proceeds from bank-owned life insurance 694  
Proceeds from property insurance   2,202
Purchases of premises, equipment and software (8,100) (4,861)
Other   104
Net cash provided by investing activities 275,937 166,703
Cash flows from financing activities    
Net decrease in deposits (106,400) (663,176)
Dividends paid (32,868) (33,186)
Stock tendered for payment of withholding taxes (3,997) (2,612)
Common stock repurchased (25,000)  
Net cash used in financing activities (168,265) (698,974)
Net increase (decrease) in cash and cash equivalents 144,389 (465,631)
Cash and cash equivalents at beginning of period 1,170,190 1,739,897
Cash and cash equivalents at end of period 1,314,579 1,274,266
Supplemental disclosures    
Interest paid 82,175 88,594
Income taxes paid, net of income tax refunds 707 1,755
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 1,132  
Obligation to fund low-income housing partnerships 41,121 $ 8,223
Stock repurchase excise tax settled in subsequent period $ 183