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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 74,721,000 $ 73,225,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Provision for credit losses 10,960,000 3,500,000
Depreciation, amortization and accretion 18,365,000 23,947,000
Deferred income tax expense 302,000 5,150,000
Funding of mortgage loans held for sale (659,921,000) (1,076,613,000)
Proceeds from sales of mortgage loans held for sale 526,853,000 1,345,924,000
Gains on sales of mortgage loans held for sale (9,417,000) (9,537,000)
Losses on sales of securities 22,438,000 0
Losses (gains) on sales of premises and equipment 7,000 (236,000)
Stock-based compensation expense 6,840,000 6,290,000
Increase in other assets (26,264,000) (2,867,000)
Increase (decrease) in other liabilities 3,576,000 (19,077,000)
Net cash (used in) provided by operating activities (31,540,000) 349,706,000
Investing activities    
Purchases of securities available for sale 0 (609,752,000)
Proceeds from sales of securities available for sale 488,981,000 0
Proceeds from call/maturities of securities available for sale 90,830,000 249,394,000
Purchases of securities held to maturity 0 (91,803,000)
Proceeds from call/maturities of securities held to maturity 54,123,000 17,262,000
Net increase in loans (363,231,000) (555,936,000)
Purchases of premises and equipment (12,353,000) (5,865,000)
Proceeds from sales of premises and equipment 0 933,000
Purchase of bank-owned life insurance 0 (80,000,000)
Net change in FHLB stock 13,268,000 (3,526,000)
Proceeds from sales of other assets 827,000 1,524,000
Net cash paid in acquisition of businesses 0 (10,066,000)
Other, net 1,668,000 622,000
Net cash provided by (used in) investing activities 274,113,000 (1,087,213,000)
Financing activities    
Net (decrease) increase in noninterest-bearing deposits (679,803,000) 23,273,000
Net increase (decrease) in interest-bearing deposits 1,288,198,000 (165,068,000)
Net (decrease) increase in short-term borrowings (454,927,000) 69,215,000
Repayment of long-term debt 0 (32,417,000)
Cash paid for dividends (25,134,000) (24,993,000)
Net cash provided by (used in) financing activities 128,334,000 (129,990,000)
Net increase (decrease) in cash and cash equivalents 370,907,000 (867,497,000)
Cash and cash equivalents at beginning of period 575,992,000 1,877,965,000
Cash and cash equivalents at end of period 946,899,000 1,010,468,000
Supplemental disclosures    
Cash paid for interest 91,861,000 19,959,000
Cash paid for income taxes 23,071,000 6,367,000
Noncash transactions:    
Transfers of loans to other real estate owned 4,119,000 1,284,000
Recognition of operating right-of-use assets 611,000 1,595,000
Recognition of operating lease liabilities $ 611,000 $ 1,595,000