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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 199,131 $ 148,526
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (recapture of) credit losses 32,877 1,683
Depreciation and amortization 22,667 23,845
Stock-based compensation expense 13,351 8,707
Pension expense (income) 2,634 1,590
Net amortization (accretion) on investment securities 5,565 10,544
Net (gain) loss on sales of investment securities 407 176
Unrealized gain (loss) on equity securities (4) 1,954
Originations of loans held for sale (219,708) (311,143)
Net gains from sales of loans held for sale (10,260) (12,842)
Proceeds from sales of loans held for sale 222,454 317,852
Deferred income taxes 4,522 9,418
Operating Lease, Right-of-Use Asset, Amortization Expense 5,736 5,709
Payments for operating leases (5,857) (5,865)
Decrease (increase) cash surrender value of life insurance 3,882 1,559
Decrease (increase) in interest receivable (7,724) (6,697)
(Decrease) increase in interest payable 39,863 2,069
Decrease (increase) in other assets 52,738 (281,714)
(Decrease) increase in other liabilities 16,290 261,953
Net cash provided by (used in) operating activities 370,800 174,206
Investing activities    
Proceeds from Sale of Debt Securities, Available-for-sale 4,821 116,796
Proceeds from calls, paydowns and maturities of securities available-for-sale 326,181 594,016
Payments to Acquire Debt Securities, Available-for-sale 35,718 454,759
Proceeds from calls, paydowns and maturities of securities held-to-maturity 2,937 12,790
Payments to Acquire Other Investments 4,521 37,758
Proceeds from Maturities, Prepayments and Calls of Other Investments 13,960 8
Net decrease (increase) in interest-bearing deposits with other banks (64,685) (124,167)
Net decrease (increase) in loans and leases (367,240) (490,687)
Proceeds from disposal of other real estate owned 252 170
Purchases of premises and equipment (18,134) (9,762)
Net change in operating leases (45,145) (22,574)
Proceeds from Life Insurance Policy 3,246 4,676
Net cash provided by (used in) investing activities (187,581) (411,251)
Financing activities    
Net (decrease) increase in total deposits 214,376 (532,019)
Net (decrease) increase in short-term borrowings (312,968) 864,844
Payments of long-term debt 6,337 55,369
Cash dividends paid on common stock (65,504) (65,066)
Proceeds from exercise of stock options 48 177
Net cash provided by (used in) financing activities (170,385) 212,567
Cash and due from banks:    
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 12,834 (24,478)
Cash and due from bank at beginning of period 207,501 220,031
Cash and due from bank at end of period 220,335 195,553
Supplemental Disclosures    
Interest Paid 150,699 30,820
Income Taxes Paid 8,392 4,847
Noncash or Part Noncash Acquisition, Investments Acquired 0 45,494
Supplemental schedule for investing activities    
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration (3,420) 692
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities (941) (1,635)
Goodwill 4,361 (2,327)
Cash consideration $ (3,535) $ 0