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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 116,554,000 $ 119,792,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 16,275,000 13,300,000
Depreciation, amortization and accretion 26,723,000 33,590,000
Deferred income tax (benefit) expense (1,231,000) 3,600,000
Proceeds from sale of MSR 0 18,525,000
Gain on sale of MSR 0 (2,960,000)
Funding of mortgage loans held for sale (1,057,277,000) (1,436,158,000)
Proceeds from sales of mortgage loans held for sale 934,761,000 1,757,353,000
Gains on sales of mortgage loans held for sale (12,639,000) (9,808,000)
Losses on sales of securities 22,438,000 0
Losses (gains) on sales of premises and equipment 8,000 (245,000)
Stock-based compensation expense 10,264,000 8,558,000
Increase in other assets (30,741,000) (32,187,000)
Increase (decrease) in other liabilities 22,989,000 (10,253,000)
Net cash provided by operating activities 48,124,000 463,107,000
Investing activities    
Purchases of securities available for sale (9,646,000) (708,457,000)
Proceeds from sales of securities available for sale 488,981,000 0
Proceeds from call/maturities of securities available for sale 124,150,000 336,504,000
Purchases of securities held to maturity 0 (91,803,000)
Proceeds from call/maturities of securities held to maturity 83,945,000 35,980,000
Net increase in loans (607,335,000) (1,057,998,000)
Purchases of premises and equipment (16,394,000) (10,374,000)
Proceeds from sales of premises and equipment 0 1,230,000
Purchase of bank-owned life insurance 0 (80,000,000)
Net change in FHLB stock 20,794,000 (7,538,000)
Proceeds from sales of other assets 2,833,000 2,458,000
Net cash paid in acquisition of businesses 0 (10,066,000)
Other, net 1,844,000 2,607,000
Net cash provided by (used in) investing activities 89,172,000 (1,587,457,000)
Financing activities    
Net (decrease) increase in noninterest-bearing deposits (824,559,000) 109,096,000
Net increase (decrease) in interest-bearing deposits 1,494,703,000 (582,696,000)
Net (decrease) increase in short-term borrowings (604,570,000) 269,391,000
Repayment of long-term debt 0 (32,417,000)
Cash paid for dividends (37,706,000) (37,489,000)
Net cash provided by (used in) financing activities 27,868,000 (274,115,000)
Net increase (decrease) in cash and cash equivalents 165,164,000 (1,398,465,000)
Cash and cash equivalents at beginning of period 575,992,000 1,877,965,000
Cash and cash equivalents at end of period 741,156,000 479,500,000
Supplemental disclosures    
Cash paid for interest 153,732,000 32,506,000
Cash paid for income taxes 30,922,000 19,245,000
Noncash transactions:    
Transfers of loans to other real estate owned 10,073,000 1,828,000
Recognition of operating right-of-use assets 3,077,000 3,045,000
Recognition of operating lease liabilities $ 3,077,000 $ 3,045,000