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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net income $ 86,901 $ 74,490
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 6,381 6,090
Accretion of discounts on securities, net (2,371) (798)
Amortization of operating lease right-of-use assets 6,148 5,993
Other amortization and accretion, net (14,678) (14,952)
Stock based compensation 10,233 10,290
Origination of loans designated for sale (82,146) (82,695)
Sale of loans designated for sale 79,187 86,221
Provision for credit losses 12,559 33,528
Deferred income taxes 7,321 (3,348)
(Gains) losses on securities (372) 456
Gains on sale of loans (4,251) (2,993)
Losses (gains) on sale and write-downs of other real estate owned 134 (37)
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to other real estate owned 284 1,755
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net decrease in other assets 24,973 5,046
Net increase in other liabilities 4,606 1,684
Net cash provided by operating activities 134,909 120,730
Cash Flows from Investing Activities    
Maturities and repayments of debt securities available-for-sale 269,277 153,866
Maturities and repayments of debt securities held-to-maturity 34,361 58,357
Proceeds from sale of debt securities available-for-sale 104,425 30,490
Purchases of debt securities available-for-sale (651,360) (28,095)
Maturities and redemptions of time deposits with other banks 4,132 1,492
Purchases of time deposits with other banks (3,482) (2,613)
Net new loans and principal repayments (158,095) 159,298
Proceeds from the sale of loans held for investment 10,905 0
Proceeds from sale of other real estate owned 2,841 577
Proceeds from sale of FHLB and Federal Reserve Bank Stock 11,310 73,473
Purchase of FHLB and Federal Reserve Bank Stock (20,743) (90,896)
Proceeds from sale of Visa Class B shares 4,104 0
Net cash from bank acquisitions 0 141,674
Additions to bank premises and equipment (3,884) (9,665)
Net cash (used in) provided by investing activities (396,209) 487,958
Cash Flows from Financing Activities    
Net increase in deposits 466,651 6,898
Net (decrease) increase in repurchase agreements (164,397) 104,421
Net decrease in FHLB borrowings with original maturities of three months or less 0 (220,000)
Repayments of FHLB borrowings with original maturities of more than three months (160,000) (75,000)
Proceeds from FHLB borrowings with original maturities of more than three months 355,000 110,000
Stock based employee benefit plans 972 4,316
Repurchase of common stock (880) (45)
Dividends paid (46,170) (45,236)
Net cash provided by (used in) financing activities 451,176 (114,646)
Net increase in cash and cash equivalents 189,876 494,042
Cash and cash equivalents at beginning of period 447,182 201,940
Cash and cash equivalents at end of period 637,058 695,982
Supplemental disclosure of cash flow information:    
Cash paid for interest 219,201 124,927
Cash paid (refunded) for taxes, net 10,888 (7,920)
Recognition of operating lease right-of-use assets, other than through bank acquisitions, net of terminations 0 2,068
Recognition of operating lease liabilities, other than through bank acquisitions, net of terminations 0 2,080
Supplemental disclosure of non-cash investing activities:    
Transfers from loans to other real estate owned 953 0
Transfers from bank premises to other real estate owned $ 883 $ 5,455