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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES      
Net income $ 144,781 $ 135,520 $ 110,343
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 17,892 8,366 16,215
Net depreciation, amortization and accretion 7,520 9,027 11,480
Net amortization of discounts and premiums on securities 4,666 6,062 5,482
Stock-based compensation expense 3,874 3,188 2,427
Gain on sale of securities 0 (198) (29)
Deferred income taxes 601 (2,932) 2,383
(Gain) loss on sale of fixed assets (100) 61 30
Gain on sale of loans, net (81) (1,229) (8,856)
(Gain) loss on sale and fair value adjustments of other real estate owned, net (3,898) (3,119) 420
Proceeds from the sale of mortgage loans 3,839 38,583 311,479
Mortgage loans originated for sale (3,895) (35,848) (286,257)
Net change in:      
Net (increase) decrease in interest receivable (7,094) (10,033) 3,561
Net increase (decrease) in interest payable 17,763 2,901 (2,087)
Net decrease (increase) in other assets 14,311 (24,628) 83,830
Net (decrease) increase in other liabilities (28,430) 114,804 (35,569)
Net Cash Provided by Operating Activities 171,749 240,525 214,852
INVESTING ACTIVITIES      
Purchases of securities (99,583) (401,054) (313,617)
Proceeds from maturities, prepayments and calls of securities 147,710 160,830 144,905
Proceeds from sales of securities 0 30,490 1,917
(Purchases) redemption of Federal Home Loan Bank stock (2,047) (13,515) 3,511
Net (increase) decrease in loans (492,795) (192,403) 173,401
Proceeds from sale of portfolio loans 11,641 8,024 5,107
Proceeds from sale of other real estate owned 7,051 12,529 1,259
Purchases of premises and equipment (6,219) (3,863) (3,611)
Proceeds from the sale of premises and equipment 710 161 14
Proceeds from life insurance settlement 1,696 214 353
Net payments from cash flow hedge (12,383) (91) 0
Net Cash (Used in) Provided by Investing Activities (444,219) (398,678) 13,239
FINANCING ACTIVITIES      
Net (decrease) increase in demand, money market and savings deposits (345,260) (623,076) 875,378
Net increase (decrease) in certificates of deposit 647,111 (153,400) (299,292)
Net increase (decrease) in short-term borrowings 45,000 285,509 (55,672)
Proceeds from long-term borrowings 25,000 0 0
Repayments on long-term borrowings (5,464) (7,689) (11,001)
Repurchase of shares for taxes on restricted stock (798) (808) (630)
Cash dividends paid to common shareholders (49,708) (46,952) (44,325)
Repurchase of common stock (19,808) (7,637) 0
Net Cash Provided by (Used in) Financing Activities 296,073 (554,053) 464,458
Net increase (decrease) in cash and due from banks 23,603 (712,206) 692,549
Cash and due from banks at beginning of period 210,009 922,215 229,666
Cash and Due From Banks at End of Period 233,612 210,009 922,215
Supplemental Disclosures      
Loans transferred to portfolio from held for sale 0 0 4,467
Right of use assets obtained in exchange for lease obligations 2,009 0 2,987
Cash paid for interest 111,303 22,068 15,236
Cash paid for income taxes, net of refunds 36,886 31,175 24,213
Transfers of loans to other real estate owned $ 163 $ 23 $ 12,392