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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities      
Net Income $ 144,878 $ 120,986 $ 104,033
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 9,735 8,609 8,245
Accretion of discounts of premiums on securities, net (7,565) (2,963) (949)
Amortization of operating lease ROUAs 9,441 8,221 8,053
Other amortization and accretion, net 20,571 2,379 (15,875)
Stock-based compensation 15,742 13,744 13,440
Origination of loans designated for sale (165,709) (95,420) (113,151)
Sale of loans designated for sale 173,012 99,548 116,563
Provision for credit losses 51,260 16,258 37,518
Deferred income taxes 12,043 9,552 9,442
Losses on securities 522 8,016 2,935
Gains on sale of loans (6,421) (5,499) (4,211)
(Gains) losses on sale of OREO, net of write-downs (207) 134 450
Losses on disposition of fixed assets and write-downs upon transfer of bank premises to OREO 131 291 1,842
Changes in operating assets and liabilities, net of effects from acquired companies:      
Net increase in other assets (26,430) (5,759) (8,967)
Net (decrease) increase in other liabilities (42,942) 1,805 (8,755)
Net cash provided by operating activities 188,061 179,902 150,613
Cash Flows From Investing Activities      
Maturities and repayments of debt securities AFS 538,127 382,683 220,114
Maturities and repayments of debt securities HTM 48,743 45,257 69,471
Proceeds from sale of debt securities AFS 1,793,210 216,983 113,400
Purchases of debt securities AFS (2,258,000) (993,920) (100,873)
Maturities and redemptions of time deposits with other banks 18,648 6,124 1,984
Purchases of time deposits with other banks 0 (3,482) (4,605)
Net new loans and principal repayments (982,577) (243,757) 110,665
Purchases of loans held for investment 0 (44,556) 0
Proceeds from the sale of loans held for investment 19,507 34,399 0
Proceeds from the sale of OREO 4,534 2,841 577
Proceeds from sale of FHLB and Federal Reserve Bank stock 56,195 11,314 73,473
Purchase of FHLB and Federal Reserve Bank stock (110,594) (20,840) (88,141)
Proceeds from BOLI death benefit 5,059 0 0
Proceeds from sale of Visa Class B shares 0 4,104 0
Net cash from bank acquisitions 169,559 0 141,674
Additions to bank premises and equipment (9,174) (4,034) (10,293)
Net cash (used in) provided by investing activities (706,763) (606,884) 527,446
Cash Flows From Financing Activities      
Net (decrease) increase in deposits (142,148) 465,493 (324,002)
Net increase (decrease) in repurchase agreements 51,868 (142,502) 202,544
Net increase (decrease) in FHLB borrowings with original maturities of three months or less 115,000 0 (280,000)
Repayments of FHLB borrowings with original maturities of more than three months (235,000) (160,000) (75,000)
Proceeds from FHLB borrowings with original maturities of more than three months 710,000 355,000 110,000
Stock-based employee benefit plans (1,353) 945 5,100
Repurchase of common stock 0 (880) (10,868)
Dividends paid (67,727) (61,649) (60,591)
Net cash provided by (used in) financing activities 430,640 456,407 (432,817)
Net (decrease) increase in cash and cash equivalents (88,062) 29,425 245,242
Cash and cash equivalents at beginning of period 476,607 447,182 201,940
Cash and cash equivalents at end of period 388,545 476,607 447,182
Supplemental disclosure of cash flow information:      
Cash paid for interest 277,644 287,272 191,225
Cash paid (refunded) for U.S. federal taxes, net 13,441 16,888 (6,000)
Cash paid for U.S. state taxes, net [1] 2,120 1,609 79
Recognition of operating lease ROUAs, other than through bank acquisition, net of terminations 12,695 0 2,068
Recognition of operating lease liabilities, other than through bank acquisition, net of terminations 12,868 0 2,080
Supplemental disclosure of non-cash investing activities:      
Transfer of loans from held for investment to held for sale [2] 0 19,775 0
Transfer from loans to OREO [2] 1,198 953 0
Transfer from bank premises to OREO [2] $ 425 $ 883 $ 6,286
[1]
1Primarily attributable to the state of Florida.
[2]
2See "Note 17 - Business Combinations" for non-cash transactions related to business combinations.