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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 41,518 $ 39,409
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 4,750 2,438
Depreciation, amortization and accretion 8,360 8,097
Deferred income tax expense 954 1,706
Proceeds from sale of MSR 0 23,011
Gain on sale of MSR 0 (3,472)
Funding of mortgage loans held for sale (303,158) (260,424)
Proceeds from sales of mortgage loans held for sale 328,897 250,399
Gains on sales of mortgage loans held for sale (4,500) (4,535)
Debt prepayment benefit 0 (56)
(Gains) losses on sales of premises and equipment (271) 50
Stock-based compensation expense 3,780 3,992
Decrease in other assets 45,847 9,904
Decrease in other liabilities (20,025) (5,462)
Net cash provided by operating activities 106,152 65,057
Investing activities    
Purchases of securities available for sale (175,815) (46,975)
Proceeds from sales of securities available for sale 0 177,185
Proceeds from call/maturities of securities available for sale 30,958 22,148
Proceeds from call/maturities of securities held to maturity 25,831 24,159
Net increase in loans (171,186) (148,854)
Purchases of premises and equipment (4,817) (3,296)
Proceeds from sales of premises and equipment 1,267 256
Net change in FHLB stock (222) 5,120
Proceeds from sales of other assets 746 132
Other, net 1,183 93
Net cash (used in) provided by investing activities (292,055) 29,968
Financing activities    
Net increase (decrease) in noninterest-bearing deposits 137,394 (67,511)
Net increase in interest-bearing deposits 62,089 227,889
Net decrease in short-term borrowings (3) (199,456)
Repayment of long-term debt 0 (245)
Cash paid for dividends (14,270) (12,653)
Net cash provided by (used in) financing activities 185,210 (51,976)
Net (decrease) increase in cash and cash equivalents (693) 43,049
Cash and cash equivalents at beginning of period 1,092,032 801,351
Cash and cash equivalents at end of period 1,091,339 844,400
Supplemental disclosures    
Cash paid for interest 85,839 91,121
Cash paid for income taxes 0 0
Noncash transactions:    
Transfers of loans to other real estate owned 1,296 195
Recognition of operating right-of-use assets 565 1,157
Recognition of operating lease liabilities $ 565 $ 1,157