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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 82,845 $ 83,804
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 7,050 7,750
Depreciation, amortization and accretion, net 10,410 15,356
Deferred income tax benefit (2,222) (883)
Gain on sale of mortgage loans held for sale (1,868) (1,251)
Origination of mortgage loans held for sale (78,742) (86,100)
Proceeds from sale of mortgage loans held for sale 81,844 83,422
Bank owned life insurance income [1] (1,817) (1,677)
Loss (gain) on the sale of premises and equipment [1] 39 (75)
Loss on other real estate owned 0 250
Stock compensation expense 2,872 3,219
Excess tax benefit from share-based compensation arrangements (669) (579)
Net change in accrued interest receivable and other assets 6,326 (106,238)
Net change in accrued interest payable and other liabilities 17,865 79,409
Net cash provided by operating activities 123,933 76,407
Cash flows from investing activities:    
Purchases of available for sale debt securities 0 (6,025)
Proceeds from maturities and paydowns of available for sale debt securities 193,504 106,806
Proceeds from maturities and paydowns of held to maturity debt securities 65,195 28,196
Purchases of FHLB stock (33,711) (28,800)
Proceeds from redemption of FHLB stock 20,528 13,487
Net change in loans (506,484) (414,908)
Purchases of premises and equipment (6,570) (5,536)
Proceeds from sale or disposal of premises and equipment 223 1,732
Other investment activities (10,547) (12,339)
Net cash used in investing activities (277,862) (317,387)
Cash flows from financing activities:    
Net change in deposits 55,325 11,555
Net change in securities sold under agreements to repurchase and federal funds purchased (9,549) (16,719)
Proceeds from FHLB advances 2,500,000 2,150,000
Repayments of FHLB advances (2,375,000) (1,850,000)
Repurchase of common stock (3,002) (2,382)
Cash dividends paid (26,738) (25,804)
Net cash provided by financing activities 141,036 266,650
Net change in cash and cash equivalents (12,893) 25,670
Beginning cash and cash equivalents 265,959 167,367
Ending cash and cash equivalents 253,066 193,037
Supplemental cash flow information:    
Interest paid 115,558 64,963
Income taxes paid, net of refunds 13,143 28,460
Cash paid for operating lease liabilities 3,567 3,111
Supplemental non-cash activity:    
Change in unfunded commitments in tax credit investments 9,250 100,046
Dividends payable to stockholders 232 212
Premises and equipment transferred to premises held for sale $ 0 $ 715
[1] (1) Outside of the scope of ASC 606.