XML 27 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 184,699,000 $ 186,770,000
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 27,575,000 29,528,000
Change In Unamortized Net Loan Costs And Premiums (1,199,000) (6,397,000)
Accretion of acquired loans (1,057,000) (65,000)
Provision for credit losses 17,750,000 1,000,000
Deferred income tax expense 13,000 271,000
Equity Securities, FV-NI, Gain (Loss) (272,000) 2,819,000
Gain (Loss) on Disposition of Property Plant Equipment 304,000 217,000
Sale and Leaseback Transaction, Gain (Loss), Net 193,000 433,000
Stock based compensation 4,721,000 3,483,000
Increase in cash surrender value of life insurance policies (5,786,000) (5,549,000)
Gain Realized on Life Insurance Policies (2,111,000) (600,000)
Operating Lease, Payments (10,381,000) (15,867,000)
Change in Fair Value on Loans Held for Sale 31,000 620,000
Net change in:    
Trading assets (588,000) 182,000
Loans held for sale (1,226,000) 18,959,000
Other assets (2,317,000) 32,252,000
Increase (Decrease) in Other Operating Liabilities 13,526,000 58,669,000
Total adjustments 38,790,000 119,089,000
Net cash provided by operating activities 223,489,000 305,859,000
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment 0 30,000
Cash flows used in investing activities    
Payments to Acquire Equity Securities, FV-NI 440,000 471,000
Proceeds from maturities and principal repayments of securities available for sale 42,087,000 100,790,000
Payments to Acquire Debt Securities, Available-for-sale 0 (123,289,000)
Proceeds from maturities and principal repayments of securities held to maturity 114,698,000 132,997,000
Purchases of securities held to maturity 0 (763,987,000)
Net (purchases) redemptions of Federal Home Loan Bank stock (38,660,000) 6,189,000
Investments in low income housing projects (20,086,000) (14,896,000)
Purchases of life insurance policies (114,000) (115,000)
Proceeds from Life Insurance Policy 3,934,000 2,273,000
Net increase in loans (322,904,000) (107,211,000)
Purchases of bank premises and equipment (9,541,000) (18,019,000)
Proceeds from the sale of bank premises and equipment 104,000 1,228,000
Net cash used in investing activities (230,922,000) (784,481,000)
Cash flows used in financing activities    
Net increase (decrease) in time deposits 816,896,000 (351,458,000)
Net decrease in other deposits (1,636,503,000) (225,519,000)
Increase (Decrease) in Federal Funds Purchased and Securities Sold under Agreements to Repurchase, Net 887,000,000 (25,000,000)
Repayments of Debt 0 (14,063,000)
Proceeds from Stock Options Exercised 80,000 0
Restricted stock awards issued, net of awards surrendered (1,143,000) (1,085,000)
Proceeds from shares issued under direct stock purchase plan 1,977,000 1,765,000
Payments for shares repurchased under share repurchase program (119,951,000) (139,946,000)
Common dividends paid (73,728,000) (70,460,000)
Net cash used in financing activities (125,372,000) (825,766,000)
Net decrease in cash and cash equivalents (132,805,000) (1,304,388,000)
Cash and cash equivalents at beginning of year 352,933,000 2,240,684,000
Cash and cash equivalents at end of period 220,128,000 936,296,000
Supplemental schedule of noncash investing and financing activities    
Net increase in capital commitments relating to low income housing project investments 15,718,000 4,408,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 5,747,000 $ 14,124,000