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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flow From Operating Activities:    
Net income $ 87,866 $ 124,941
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 26,500 0
Depreciation and amortization 6,680 5,799
Change in deferred taxes 1,356 (1,429)
Share-based compensation 2,754 2,432
Loans originated for sale (451,682) (272,074)
Proceeds from sales of loans held for sale 443,068 256,880
Gains on sales of loans held for sale (4,744) (3,009)
Net losses on sales and redemptions of securities available for sale 51 2,963
Increase in cash surrender value of life insurance (2,863) (2,603)
Gains on life insurance benefits (658) (781)
Change in interest receivable 118 (4,714)
Change in interest payable (358) 6,065
Other adjustments 13,787 (1,497)
Net cash provided by operating activities 121,875 112,973
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits 267,552 (93,419)
Purchases of:    
Securities available for sale (62,328) (1,400)
Securities held to maturity 0 (5,653)
Proceeds from sales of securities available for sale 0 314,087
Proceeds from maturities and redemptions of:    
Securities available for sale 21,396 32,365
Securities held to maturity 48,254 50,774
Change in Federal Home Loan Bank stock 31 (3,317)
Payment of capital calls to qualified affordable housing investments (15,933) (4,749)
Net change in loans (171,915) (386,135)
Proceeds from the sale of other real estate owned 274 101
Proceeds from life insurance benefits 3,443 4,675
Other adjustments (28,469) 2,424
Net cash provided by (used in) investing activities 67,294 (572)
Net change in:    
Demand and savings deposits (385,455) (530,227)
Certificates of deposit and other time deposits 133,072 728,637
Borrowings 427,348 746,773
Repayment of borrowings (282,152) (1,033,441)
Cash dividends on preferred stock (938) (938)
Cash dividends on common stock (40,622) (39,378)
Stock issued under employee benefit plans 343 380
Stock issued under dividend reinvestment and stock purchase plans 1,101 1,064
Stock options exercised 812 1,110
Repurchase of common stock (49,955) 0
Net cash used in financing activities (196,446) (126,020)
Net Change in Cash and Cash Equivalents (7,277) (13,619)
Cash and Cash Equivalents, January 1 112,649 122,594
Cash and Cash Equivalents, June 30 105,372 108,975
Additional cash flow information:    
Interest paid 217,005 139,744
Income tax paid (refunded) 5,300 27,530
Loans transferred to other real estate owned 211 1,080
Fixed assets transferred to other real estate owned 0 2,900
Non-cash investing activities using trade date accounting 28,805 26,911
ROU assets obtained in exchange for new operating lease liabilities 5,588 1,505
Qualified affordable housing investments obtained in exchange for funding commitments 40,000 4,700
Mortgage Loan    
Proceeds from maturities and redemptions of:    
Proceeds from portfolio loan sale 1,716 0
Commercial    
Proceeds from maturities and redemptions of:    
Proceeds from portfolio loan sale $ 3,273 $ 89,675