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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 154,885 $ 104,388 $ 121,021
Adjustments to reconcile net income to net cash provided by operating activities      
Provision for loan losses [1] (8,257) 51,134 25,412
Depreciation and amortization of premises and equipment 9,896 9,772 9,497
Net amortization on securities 5,832 4,369 3,375
Amortization of intangible assets 2,808 3,395 3,579
Amortization of operating lease right-of-use assets 7,176 7,382 7,239
Excess tax benefit on stock-based compensation (385) (181) (409)
Stock-based compensation expense 4,414 4,581 4,210
Bank owned life insurance income (6,217) (5,743) (5,355)
Amortization of subordinated debt issuance costs 438 230 0
Proceeds from sale of loans held for sale 55,065 168,707 175,829
Originations of loans held for sale (54,608) (158,279) (181,261)
Net gains on sale of loans held for sale (361) (1,989) (786)
Net security (gains) losses (566) 388 (4,213)
Net losses (gains) on sale of other real estate owned 182 (96) 227
Lease termination losses 0 4,284 1,872
Net change in other assets and other liabilities (12,667) (49,930) (6,774)
Net cash provided by operating activities 157,635 142,412 153,463
Investing activities      
Net cash used in acquisitions 0 (3,899) 0
Securities available for sale:      
Proceeds from maturities, calls and principal paydowns 395,386 336,410 273,578
Proceeds from sales 0 0 26,203
Purchases (775,963) (689,932) (252,963)
Securities held to maturity:      
Proceeds from maturities, calls and principal paydowns 181,620 243,136 223,733
Proceeds from sales 0 996 0
Purchases (299,014) (230,951) (70,660)
Equity securities:      
Proceeds from calls 1,000 2,000 0
Proceeds from sales 0 0 3,966
Purchases 0 0 (93)
Other:      
Net increase in loans (9,305) (378,765) (272,698)
Proceeds from Federal Home Loan Bank stock redemption 2,422 63,305 182,752
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (167) (46,038) (174,143)
Proceeds from settlement of bank owned life insurance 4,413 1,057 1,086
Purchase of bank owned life insurance (40,000) 0 0
Purchases of premises and equipment, net (7,740) (8,157) (6,647)
Proceeds from sales of other real estate owned 1,290 1,113 1,543
Net cash provided by (used in) investing activities (546,058) (709,725) (64,343)
Financing activities      
Net increase in deposits 1,152,777 1,493,872 219,609
Net decrease in short-term borrowings (70,592) (486,889) (216,421)
Proceeds from issuance of subordinated debt 0 100,000 0
Payment of subordinated debt issuance costs 0 (2,178) 0
Proceeds from issuance of long-term debt 0 0 10,598
Repayments of long-term debt (25,101) (25,114) (20,111)
Proceeds from the issuance of shares to employee and other stock plans 112 184 725
Cash paid by employer for tax-withholding on stock issuance (2,931) (1,537) (1,622)
Purchase of treasury stock (21,714) (7,980) 0
Cash dividends (47,738) (47,207) (46,010)
Net cash provided by (used in) financing activities 984,813 1,023,151 (53,232)
Net increase in cash and cash equivalents 596,390 455,838 35,888
Cash and cash equivalents at beginning of year 672,681 216,843 180,955
Cash and cash equivalents at end of year 1,269,071 672,681 216,843
Cash paid during the period for:      
Interest expense 20,285 31,692 55,908
Income taxes paid, net of refund 46,097 45,790 28,374
Noncash investing activities:      
Loans transferred to other real estate owned 181 1,017 787
Acquisitions:      
Fair value of assets acquired $ 0 $ 3,328 $ 0
[1] Beginning January 1, 2020, calculation is based on current expected loss methodology. Prior to January 1, 2020, calculation was based on incurred loss methodology.