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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities    
Net income $ 110,618 $ 86,901
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 6,715 6,381
Accretion of discounts on securities, net (3,858) (2,371)
Amortization of operating lease ROUAs 6,793 6,148
Other amortization and accretion, net 2,224 3,344
Stock-based compensation 11,445 10,233
Origination of loans designated for sale (75,987) (82,146)
Sale of loans designated for sale 86,383 79,187
Provision for credit losses 22,000 12,559
Deferred income taxes 7,174 7,321
Losses (gains) on securities 606 (372)
Gains on sale of loans (4,067) (4,251)
(Gains) losses on sale of OREO, net of write-downs (114) 134
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to OREO 106 284
Changes in operating assets and liabilities, net of effects from acquired companies:    
Net (increase) decrease in other assets (37,432) 6,951
Net increase in other liabilities 942 4,606
Net cash provided by operating activities 133,548 134,909
Cash Flows from Investing Activities    
Maturities and repayments of debt securities AFS 369,197 269,277
Maturities and repayments of debt securities HTM 36,460 34,361
Proceeds from sale of debt securities AFS 265,524 104,425
Purchases of debt securities AFS (1,171,727) (651,360)
Maturities and redemptions of time deposits with other banks 2,219 4,132
Purchases of time deposits with other banks 0 (3,482)
Net new loans and principal repayments (528,685) (158,095)
Proceeds from the sale of loans held for investment 19,110 10,905
Proceeds from sale of OREO 2,960 2,841
Proceeds from sale of FHLB and Federal Reserve Bank stock 31,118 11,310
Purchase of FHLB and Federal Reserve Bank stock (55,185) (20,743)
Proceeds from BOLI death benefit 2,294 0
Proceeds from sale of Visa Class B shares 0 4,104
Net cash from bank acquisitions 185,995 0
Additions to bank premises and equipment (7,149) (3,884)
Net cash used in investing activities (847,869) (396,209)
Cash Flows from Financing Activities    
Net increase in deposits 142,697 466,651
Net increase (decrease) in repurchase agreements 4,176 (164,397)
Net increase of FHLB borrowings with original maturities of three months or less 100,000 0
Repayments of FHLB borrowings with original maturities of more than three months (105,000) (160,000)
Proceeds from FHLB borrowings with original maturities of more than three months 450,000 355,000
Stock-based employee benefit plans (1,289) 972
Repurchase of common stock 0 (880)
Dividends paid (46,876) (46,170)
Net cash provided by financing activities 543,708 451,176
Net (decrease) increase in cash and cash equivalents (170,613) 189,876
Cash and cash equivalents at beginning of period 476,607 447,182
Cash and cash equivalents at end of period 305,994 637,058
Supplemental disclosure of cash flow information:    
Cash paid for interest 205,578 219,201
Cash paid for taxes, net 10,380 10,888
Recognition of operating lease ROUAs, other than through bank acquisitions, net of terminations 9,372 0
Recognition of operating lease liabilities, other than through bank acquisitions, net of terminations 9,372 0
Supplemental disclosure of non-cash investing activities:    
Transfers from loans to OREO [1] 1,116 953
Transfers from bank premises to OREO [1] $ 0 $ 883
[1]
1See "Note 11 – Business Combinations" for non-cash transactions related to business combinations.