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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 78,255,000 $ 74,721,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 5,738,000 8,460,000
Depreciation, amortization and accretion 16,027,000 18,365,000
Deferred income tax expense 1,142,000 302,000
Proceeds from sale of MSR 23,011,000 0
Gain on sale of MSR (3,472,000) 0
Funding of mortgage loans held for sale (641,131,000) (659,921,000)
Proceeds from sales of mortgage loans held for sale 561,475,000 526,853,000
Gains on sales of mortgage loans held for sale (9,734,000) (9,417,000)
Losses on sales of securities 0 22,438,000
Debt prepayment benefit (56,000) 0
Losses on sales of premises and equipment 52,000 7,000
Stock-based compensation expense 7,366,000 6,840,000
Increase in other assets (6,802,000) (26,264,000)
(Decrease) increase in other liabilities (15,891,000) 6,076,000
Net cash provided by (used in) operating activities 15,980,000 (31,540,000)
Investing activities    
Purchases of securities available for sale (52,679,000) 0
Proceeds from sales of securities available for sale 177,185,000 488,981,000
Proceeds from call/maturities of securities available for sale 42,713,000 90,830,000
Proceeds from call/maturities of securities held to maturity 50,372,000 54,123,000
Net increase in loans (258,608,000) (363,231,000)
Purchases of premises and equipment (6,774,000) (12,353,000)
Proceeds from sales of premises and equipment 289,000 0
Net change in FHLB stock 2,665,000 13,268,000
Proceeds from sales of other assets 1,167,000 827,000
Other, net 191,000 1,668,000
Net cash (used in) provided by investing activities (43,479,000) 274,113,000
Financing activities    
Net decrease in noninterest-bearing deposits (44,222,000) (679,803,000)
Net increase in interest-bearing deposits 222,650,000 1,288,198,000
Net decrease in short-term borrowings (74,836,000) (454,927,000)
Repayment of long-term debt (245,000) 0
Cash paid for dividends (25,293,000) (25,134,000)
Net cash provided by financing activities 78,054,000 128,334,000
Net increase in cash and cash equivalents 50,555,000 370,907,000
Cash and cash equivalents at beginning of period 801,351,000 575,992,000
Cash and cash equivalents at end of period 851,906,000 946,899,000
Supplemental disclosures    
Cash paid for interest 187,194,000 91,861,000
Cash paid for income taxes 17,958,000 23,071,000
Noncash transactions:    
Transfers of loans to other real estate owned 1,135,000 4,119,000
Recognition of operating right-of-use assets 1,562,000 611,000
Recognition of operating lease liabilities $ 1,562,000 $ 611,000