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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 244,261 $ 244,913
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,514 14,814
Provision for credit losses 13,653 (32,288)
Gain on other real estate and foreclosed assets (324) (3,276)
Loss on sale of securities   87
Deferred tax expense 8,450 11,634
Increase in cash surrender value of life insurance contracts (7,466) (920)
Loss on disposal of assets 651 539
Net (increase) decrease in loans held for sale (29,454) 43,329
Net amortization of securities premium/discount 9,674 21,311
Amortization of intangible assets 6,071 7,334
Stock-based compensation expense 12,194 11,379
Net change in derivative collateral liability 85,986 96,591
Net increase (decrease) in interest payable and other liabilities 6,547 (19,009)
(Increase) decrease in other assets (146,238) 108,679
Other, net (6,828) (18,286)
Net cash provided by operating activities 214,691 486,831
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of available for sale securities   73,219
Proceeds from maturities of securities available for sale 157,474 295,121
Purchases of securities available for sale   (383,398)
Proceeds from maturities of securities held to maturity 72,365 77,794
Purchases of securities held to maturity (6,023) (708,439)
Proceeds received upon termination of fair value hedge instruments 16,550 49,167
Net (increase) decrease in short-term investments (350,103) 2,959,439
Net (purchases) redemption of Federal Home Loan Bank stock (68,057) 37,423
Proceeds from sales of loans and leases 27,439 26,619
Net increase in loans (718,348) (808,525)
Purchase of life insurance contracts   (65,000)
Purchases of property and equipment (18,273) (18,212)
Proceeds from sales of other real estate and foreclosed assets 1,420 9,378
Other, net (7,594) 4,277
Net cash provided by (used in) investing activities (893,150) 1,548,863
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits 973,152 (599,465)
Net decrease in short-term borrowings (241,733) (1,035,050)
Repayments of long-term debt   (480)
Dividends paid (52,350) (47,365)
Payroll tax remitted on net share settlement of equity awards (3,267) (1,799)
Proceeds from exercise of stock options   227
Proceeds from dividend reinvestment and stock purchase plans 1,934 1,800
Repurchase of common stock   (56,489)
Net cash provided by (used in) financing activities 677,736 (1,738,621)
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS (723) 297,073
CASH AND DUE FROM BANKS, BEGINNING 564,459 401,201
CASH AND DUE FROM BANKS, ENDING 563,736 698,274
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 1,322 $ 118