XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 46,078 $ 33,547
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 7,960 1,500
Depreciation, amortization and accretion 9,237 12,804
Deferred income tax expense 2,667 4,649
Funding of mortgage loans held for sale (258,946) (595,046)
Proceeds from sales of mortgage loans held for sale 212,755 769,797
Gains on sales of mortgage loans held for sale (4,769) (6,047)
Losses (gains) on sales of premises and equipment 2 (3)
Stock-based compensation expense 3,445 3,338
(Increase) decrease in other assets (10,945) 5,746
Decrease in other liabilities (14,866) (24,469)
Net cash (used in) provided by operating activities (7,382) 205,816
Investing activities    
Purchases of securities available for sale 0 (285,635)
Proceeds from call/maturities of securities available for sale 45,342 128,155
Purchases of securities held to maturity 0 (79,434)
Proceeds from call/maturities of securities held to maturity 25,424 7,620
Net increase in loans (195,617) (264,251)
Purchases of premises and equipment (8,237) (2,030)
Proceeds from sales of premises and equipment 0 100
Purchase of bank-owned life insurance 0 (80,000)
Net change in FHLB stock (22,130) (422)
Proceeds from sales of other assets 647 956
Net cash paid in acquisition of businesses 0 (10,066)
Other, net 1,340 207
Net cash used in investing activities (153,231) (584,800)
Financing activities    
Net decrease in noninterest-bearing deposits (313,879) (11,868)
Net increase in interest-bearing deposits 738,933 97,041
Net increase in short-term borrowings 19,825 67,852
Repayment of long-term debt 0 (32,008)
Cash paid for dividends (12,561) (12,505)
Net cash provided by financing activities 432,318 108,512
Net increase (decrease) in cash and cash equivalents 271,705 (270,472)
Cash and cash equivalents at beginning of period 575,992 1,877,965
Cash and cash equivalents at end of period 847,697 1,607,493
Supplemental disclosures    
Cash paid for interest 41,239 10,324
Cash paid for income taxes 17,443 6,195
Noncash transactions:    
Transfers of loans to other real estate owned 3,623 200
Recognition of operating right-of-use assets 531 30
Recognition of operating lease liabilities $ 531 $ 30