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Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 100,975 $ 112,543
Adjustments to reconcile to net cash provided by operating activities:    
Provision for credit losses 7,373 5,146
Depreciation and amortization 10,833 11,172
Net amortization of securities premiums and discounts (627) (577)
Realized securities (gains)/losses (50) 103
Gain on sales of loans (1,224) (1,361)
Cash receipts from the sale of loans originated for sale 110,096 77,758
Cash disbursements for loans originated for sale (72,791) (78,948)
Deferred income tax benefit (1,764) (1,489)
Gain on sale of other assets (1,319) (1,061)
Increase in interest receivable (3,074) (3,387)
Increase in interest payable 5,314 3,005
Amortization of stock-based compensation arrangements 1,635 1,213
Excess tax benefit from stock-based compensation arrangements (750) (734)
Other, net 11,848 5,797
Net cash provided by operating activities 166,475 129,180
INVESTING ACTIVITIES    
Net decrease/(increase) in federal funds sold 214 (1,631)
Purchases of available for sale debt securities (270) (94,112)
Proceeds from maturities, calls and paydowns of held for investment debt securities 352 1,349
Proceeds from maturities, calls and paydowns of available for sale debt securities 116,611 64,036
Purchase of equity securities (404) (294)
Proceeds from paydowns and sales of equity securities 206 531
Net change in loans (445,920) (357,140)
Net (payments)/receipts on derivative asset contracts (22,293) 11,628
Purchases of premises, equipment and computer software (16,273) (13,016)
Purchase of tax credits (2,469) (3,813)
Other, net 8,978 23,302
Net cash used in investing activities (361,268) (369,160)
FINANCING ACTIVITIES    
Net change in deposits 315,480 (499,048)
Net change in short-term borrowings 913 3,593
Issuance of common stock in connection with stock options, net 2,565 1,977
Cash dividends paid (28,336) (26,310)
Net cash provided by (used in) financing activities 290,622 (519,788)
Net increase/(decrease) in cash, due from banks and interest-bearing deposits 95,829 (759,768)
Cash, due from banks and interest-bearing deposits at the beginning of the period 2,397,463 3,168,910
Cash, due from banks and interest-bearing deposits at the end of the period 2,493,292 2,409,142
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 128,794 78,176
Cash paid during the period for income taxes 22,349 31,180
Noncash investing and financing activities:    
Unpaid common stock dividends declared $ 14,200 $ 13,176