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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 33,547,000 $ 57,908,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses on loans 1,500,000 0
Depreciation, amortization and accretion 12,804,000 10,059,000
Deferred income tax expense 4,649,000 5,542,000
Funding of mortgage loans held for sale (595,046,000) (1,143,349,000)
Proceeds from sales of mortgage loans held for sale 769,797,000 1,082,538,000
Gains on sales of mortgage loans held for sale (6,047,000) (33,901,000)
Valuation adjustment to mortgage servicing rights 0 (13,561,000)
Gains on sales of securities 0 (1,357,000)
Gains on sales of premises and equipment (3,000) (22,000)
Stock-based compensation expense 3,338,000 2,756,000
Increase (decrease) in other assets 5,746,000 (11,800,000)
Decrease in other liabilities (24,469,000) (11,601,000)
Net cash provided by (used in) operating activities 205,816,000 (56,788,000)
Investing activities    
Purchases of securities available for sale (285,635,000) (465,245,000)
Proceeds from sales of securities available for sale 0 155,391,000
Proceeds from call/maturities of securities available for sale 128,155,000 95,382,000
Purchases of securities held to maturity (79,434,000) 0
Proceeds from call/maturities of securities held to maturity 7,620,000 0
Net (increase) decrease in loans (264,251,000) 243,250,000
Purchases of premises and equipment (2,030,000) (2,630,000)
Proceeds from sales of premises and equipment 100,000 34,000
Purchase of bank-owned life insurance (80,000,000) 0
Net change in FHLB stock (422,000) (24,000)
Proceeds from sales of other assets 956,000 1,962,000
Net cash paid in acquisition of businesses (10,066,000) 0
Other, net 207,000 1,346,000
Net cash (used in) provided by investing activities (584,800,000) 29,466,000
Financing activities    
Net (decrease) increase in noninterest-bearing deposits (11,868,000) 450,312,000
Net increase in interest-bearing deposits 97,041,000 227,515,000
Net increase (decrease) in short-term borrowings 67,852,000 (9,186,000)
Repayment of long-term debt (32,008,000) (42,000)
Cash paid for dividends (12,505,000) (12,564,000)
Net cash provided by financing activities 108,512,000 656,035,000
Net (decrease) increase in cash and cash equivalents (270,472,000) 628,713,000
Cash and cash equivalents at beginning of period 1,877,965,000 633,203,000
Cash and cash equivalents at end of period 1,607,493,000 1,261,916,000
Supplemental disclosures    
Cash paid for interest 10,324,000 15,108,000
Cash paid for income taxes 6,195,000 18,032,000
Noncash transactions:    
Transfers of loans to other real estate owned 200,000 2,039,000
Recognition of operating right-of-use assets 30,000 3,601,000
Recognition of operating lease liabilities $ 30,000 $ 3,601,000