XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flow From Operating Activities:    
Net income $ 137,053 $ 181,307
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 31,500 2,000
Depreciation and amortization 10,602 8,666
Change in deferred taxes 3,128 3,957
Share-based compensation 4,191 3,792
Loans originated for sale (775,504) (567,626)
Proceeds from sales of loans held for sale 773,446 551,613
Gains on sales of loans held for sale (10,508) (5,865)
Net losses on sales and redemptions of securities available for sale 9,165 4,613
Increase in cash surrender value of life insurance (4,128) (3,813)
Gains on life insurance benefits (2,148) (1,332)
Change in interest receivable 5,585 (4,941)
Change in interest payable (319) 8,943
Other adjustments 16,643 11,904
Net cash provided by operating activities 198,706 193,218
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits 76,954 (222,578)
Purchases of:    
Securities available for sale (93,463) (12,543)
Securities held to maturity 0 (5,653)
Proceeds from sales of securities available for sale 149,771 347,318
Proceeds from maturities and redemptions of:    
Securities available for sale 33,346 44,925
Securities held to maturity 72,938 76,427
Change in Federal Home Loan Bank stock 53 (3,272)
Payment of capital calls to qualified affordable housing investments (22,238) (7,478)
Net change in loans (206,478) (404,833)
Proceeds from the sale of other real estate owned 325 1,175
Proceeds from life insurance benefits 7,964 7,350
Other adjustments (25,046) (40,257)
Net cash used in investing activities (885) (107,295)
Net change in:    
Demand and savings deposits (308,714) (581,735)
Certificates of deposit and other time deposits 140,074 845,566
Borrowings 551,851 754,229
Repayment of borrowings (499,542) (1,043,588)
Cash dividends on preferred stock (1,406) (1,406)
Cash dividends on common stock (61,146) (59,713)
Stock issued under employee benefit plans 511 590
Stock issued under dividend reinvestment and stock purchase plans 1,676 1,603
Stock options exercised 900 1,110
Repurchase of common stock (49,955) 0
Net cash used in financing activities (225,751) (83,344)
Net Change in Cash and Cash Equivalents (27,930) 2,579
Cash and Cash Equivalents, January 1 112,649 122,594
Cash and Cash Equivalents, September 30 84,719 125,173
Additional cash flow information:    
Interest paid 327,443 232,616
Income tax paid (refunded) 6,407 32,741
Loans transferred to other real estate owned 699 1,224
Fixed assets transferred to other real estate owned 69 3,226
Non-cash investing activities using trade date accounting 17,749 4,462
ROU assets obtained in exchange for new operating lease liabilities 6,918 1,630
Qualified affordable housing investments obtained in exchange for funding commitments 40,500 25,200
Reclassification of loans and other branch assets to held for sale 13,404 0
Reclassification of deposits and other branch liabilities to held for sale 288,476 0
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 $ 112,124