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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 59,388 $ 96,744
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,196 16,316
Provision/ (credit) for credit losses 9,724 (14,116)
Share based compensation expense 6,441 6,734
Deferred income tax expense 205 4,744
Originations of loans held for sale (285,227) (296,913)
Proceeds from sales of loans held for sale 278,391 293,750
Gains on sales of loans held for sale (4,242) (4,366)
Gains on sale of other real estate owned 0 (96)
Tax (benefit)/ deficiency associated with share based compensation 513 296
Net (increase)/ decrease in accrued interest receivable 1,421 (3,928)
Net increase in other assets (6,673) (10,062)
Net increase/ (decrease) accrued expenses and other liabilities (25,984) 17,979
Other, net 54 66
Net cash provided by operating activities 53,207 107,148
Investing activities:    
Sales/ (purchases) of other investments 4,471  
Sales/ (purchases) of other investments   (6,305)
Purchases of investments available-for-sale (163,868) 0
Proceeds from maturities, calls and principal payments of investments available-for-sale 143,533 120,520
Proceeds from maturities, calls and principal payments of investments held-to-maturity 16,776 19,052
Net (increase)/ decrease in loans (127,598) 96,764
Proceeds from the sales of other real estate owned 0 481
Expenditures for premises and equipment (12,801) (9,914)
Net cash provided by/ (used in) investing activities (139,487) 220,598
Financing activities:    
Net increase in deposits 741,557 198,632
Net increase/ (decrease) in retail repurchase agreements, federal funds purchased and Federal Reserve Bank borrowings (304,265) 44,614
Proceeds from FHLB advances 0 2,030,000
Repayment of FHLB advances (100,000) (2,030,000)
Proceeds from issuance of common stock 1,248 2,051
Stock tendered for payment of withholding taxes (1,519) (1,821)
Cash dividends paid (46,293) (45,863)
Net cash provided by financing activities 290,728 197,613
Net increase in cash and cash equivalents 204,448 525,359
Cash and cash equivalents at beginning of period 545,898 192,232
Cash and cash equivalents at end of period 750,346 717,591
Supplemental disclosures:    
Interest payments 272,069 170,336
Income tax payments 18,466 27,345
Transfers from loans to other real estate owned $ 3,265 $ 0