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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2023
Cash flows from operating activities:              
Net income $ 133,167 $ 106,058 $ 70,424 $ 96,280 $ 239,225 $ 166,704  
Adjustments to reconcile net income to net cash (used in) provided by operating activities:              
Depreciation and amortization         19,922 21,510  
Stock-based compensation         13,651 15,718  
Provision for credit losses 37,799   82,070   100,460 127,270  
Net accretion of discounts and amortization of premium on securities and borrowings         (3,618) (1,418)  
Amortization of other intangible assets 7,427   8,568   15,446 17,980  
Losses on available for sale and held to maturity debt securities, net         11 11  
Proceeds from sales of loans held for sale at fair value         90,628 145,310  
Gains on sales of loans, net (2,025)   (884)   (4,222) (2,502)  
Originations of loans held for sale         (80,509) (133,348)  
Gains on sales of assets, net         (187) (3,692)  
Loss on extinguishment of debt 922   0   922 0  
Net change in:              
Fair value of financial instruments hedged by derivative transactions         7,048 6,083  
Trading debt securities         0 (6)  
Lease right of use assets         (4,192) 5,506  
Cash surrender value of bank owned life insurance         (10,464) (7,748)  
Accrued interest receivable         1,663 (5,669)  
Other assets         151,240 (176,362)  
Accrued expenses and other liabilities         (394,992) 138,165  
Net cash provided by operating activities         142,032 313,512  
Cash flows from investing activities:              
Loans originated and purchased, net of principal collected         (680,904) (496,413)  
Equity securities:              
Purchases         (6,938) (4,691)  
Sales         715 751  
Held to maturity debt securities:              
Purchases         (159,213) (56,672)  
Maturities, calls and principal repayments         159,870 144,552  
Available for sale debt securities:              
Purchases         (682,591) (982,861)  
Maturities, calls and principal repayments         209,332 49,102  
Death benefit proceeds from bank owned life insurance         7,012 5,667  
Proceeds from sales of real estate property and equipment         2,277 2,974  
Proceeds from sales of loans not originated for sale         0 230,666  
Proceeds from sale of commercial premium finance lending division         0 98,060  
Purchases of real estate property and equipment         (6,154) (6,378)  
Net cash used in investing activities         (1,156,594) (1,015,243)  
Cash flows from financing activities:              
Net change in deposits         647,933 869,348  
Net change in short-term borrowings         89,526 (854,064)  
Proceeds from issuance of long-term borrowings, net         210,000 1,000,000  
Repayments of long-term borrowings         (488,000) (65,000)  
Cash dividends paid to preferred shareholders         (13,903) (8,227)  
Cash dividends paid to common shareholders         (125,248) (114,256)  
Purchase of common shares related to stock compensation plan activity         (8,615) (8,271)  
Purchase of common shares to treasury         (4,326) 0  
Common stock issued, net         3,744 51  
Other, net         (257) (2)  
Net cash provided by financing activities         310,854 819,579  
Net change in cash and cash equivalents         (703,708) 117,848  
Cash and cash equivalents at beginning of year   $ 1,890,125   $ 891,225 1,890,125 891,225  
Cash and cash equivalents at end of period $ 1,186,417   $ 1,009,073   1,186,417 1,009,073 $ 891,225
Supplemental disclosures of cash flow information:              
Interest on deposits and borrowings         769,206 891,336  
Federal and state income taxes         34,099 48,252  
Supplemental schedule of non-cash investing activities:              
Transfer of loans to other real estate owned, net         832 8,059  
Transfer of loans to loans held for sale, net         10,200 34,143 $ 10,000
Lease right of use assets obtained in exchange for operating lease liabilities         $ 22,866 $ 15,429