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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 156,916 $ 147,920
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 42,981 34,291
Depreciation and amortization of premises and equipment 15,673 14,675
Net amortization of investment securities premiums 822 5,829
Investment securities losses (gains), net 20,282 (19)
Gain on sales of mortgage loans held for sale (4,233) (2,277)
Proceeds from sales of mortgage loans held for sale 243,130 132,609
Originations of mortgage loans held for sale (250,561) (137,741)
Intangible amortization 5,261 1,746
Amortization of issuance costs and discounts on long-term borrowings 357 360
Gain on acquisition, net of tax (47,392) 0
Loss on disposal of premises and equipment 222 0
Gain on Sale-Leaseback Transaction (20,266) 0
Stock-based compensation 3,779 4,240
Net change in deferred federal income tax 14,491 19,232
Net change in accrued salaries and benefits (134) (12,163)
Net change in life insurance cash surrender value (7,051) (20,433)
Other changes, net 146,747 28,641
Total adjustments 164,108 68,990
Net cash provided by operating activities 321,024 216,910
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of AFS securities 2,261,028 80,666
Proceeds from principal repayments and maturities of AFS securities 120,714 55,102
Proceeds from principal repayments and maturities of HTM securities 26,542 29,815
Purchase of AFS securities (1,050,738) (64,996)
Net change in FRB and FHLB stock (892) 5,968
Net change in loans (214,157) (781,310)
Net purchases of premises and equipment (3,542) (11,019)
Settlement of bank-owned life insurance 963 45
Proceeds from Sale-Leaseback Transaction 51,123 0
Net cash received for acquisition 1,018,371 0
Net change in tax credit investments (24,292) (18,436)
Net cash provided (used) by investing activities 2,185,120 (704,165)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net change in demand and savings deposits (11,999) (796,291)
Net change in time deposits and brokered deposits (78,295) 1,353,293
Net change in other borrowings (1,745,262) (152,453)
Net proceeds from issuance of common stock 270,197 1,009
Dividends paid (63,865) (55,073)
Acquisition of treasury stock (30,348) (40,449)
Net cash (used) provided by financing activities (1,659,572) 310,036
Net increase (decrease) in Cash and Cash Equivalents 846,572 (177,219)
Cash and Cash Equivalents at Beginning of Period 549,710 681,921
Cash and Cash Equivalents at End of Period 1,396,282 504,702
Cash paid during the period for:    
Interest 277,841 162,377
Income taxes 19,308 15,183
Supplemental Schedule of Certain Noncash Activities:    
Fair value of tangible assets acquired 4,718,909 0
Intangible assets 92,600 0
Liabilities assumed 5,560,160 0
PCD Loans credit discount $ 55,906 $ 0