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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 108,612 $ 126,467
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,176 8,565
Provision for credit losses 12,968 6,020
Gain on other real estate and foreclosed assets (364) (20)
Deferred tax benefit (2,314) (801)
Increase cash surrender value of life insurance contracts (8,851) (2,995)
(Gain) Loss on disposal of assets (1,430) 30
Net decrease in loans held for sale 9,633 3,028
Net amortization of securities premium/discount 3,421 5,103
Amortization of intangible assets 2,526 3,114
Stock-based compensation expense 5,691 5,726
Net change in derivative collateral liability 10,297 76,152
Net decrease in interest payable and other liabilities (21,324) (28,313)
(Increase) decrease in other assets 40,643 (112,916)
Other, net (1,013) (3,272)
Net cash provided by operating activities 166,671 85,888
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of securities available for sale 82,667 77,339
Purchases of securities available for sale (121,652) 0
Proceeds from maturities of securities held to maturity 28,414 30,900
Purchases of securities held to maturity 0 (6,023)
Proceeds received upon termination of fair value hedge instruments 0 16,550
Net (increase) decrease in short-term investments 188,063 (1,964,089)
Net purchases of Federal Home Loan Bank stock 0 (68,057)
Proceeds from sales of loans and leases 28,508 11,006
Net increase in loans (86,295) (306,873)
Purchases of property and equipment (2,273) (5,498)
Proceeds from sales of other real estate and foreclosed assets 1,753 235
Other, net 618 (4,252)
Net cash provided by (used in) investing activities 119,803 (2,218,762)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 85,847 542,721
Net increase (decrease) in short-term borrowings (487,069) 1,648,226
Dividends paid (26,514) (26,173)
Payroll tax remitted on net share settlement of equity awards (6,557) (2,922)
Proceeds from dividend reinvestment and stock purchase plans 897 935
Net cash provided by (used in) financing activities (433,396) 2,162,787
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS (146,922) 29,913
CASH AND DUE FROM BANKS, BEGINNING 561,202 564,459
CASH AND DUE FROM BANKS, ENDING 414,280 594,372
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 591 $ 202