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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 69,610 $ 74,930
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 123,345 29,989
Depreciation of premises and equipment 7,785 6,288
Amortization, net 13,695 11,613
(Accretion) amortization related to acquisitions, net (34,438) 25,913
Losses on securities sales, net 87 6,513
Gain on CRE loan sale (15,720) 0
BOLI income (10,864) (7,037)
Originations and purchases (184,784) (90,967)
Proceeds from sales 2,046,402 87,389
Net decrease (increase) in other assets 5,864 (11,299)
Net (decrease) increase in other liabilities (40,725) 9,319
Net cash provided by operating activities 1,965,957 142,651
Investing activities:    
Purchases (894,303) (504,305)
Proceeds from sales 629,911 517,517
Proceeds from maturities, calls and paydowns 214,160 117,669
Purchases (36,640) 0
Proceeds from maturities, calls and paydowns 10,956 24,854
Net change in other investments 29,227 (10,379)
Net increase in LHFI (143,446) (579,753)
Net purchases of premises and equipment (486) (3,094)
Proceeds from BOLI settlements 2,376 301
Proceeds from sales of foreclosed properties and former bank premises 5,435 0
Net cash received in acquisition 270,211 54,988
Net cash provided by (used in) investing activities 87,401 (382,202)
Financing activities:    
Non-interest-bearing deposits (24,946) 412,655
Interest-bearing deposits (626,472) 185,967
Short-term borrowings (261,096) (229,084)
Repayments of long-term debt (200,000) 0
Issuance for stock options exercised 0 227
Forward sale common stock issuance 384,963 0
Dividends paid (84,968) (58,687)
Vesting of restricted stock, net of shares held for taxes (6,265) (3,644)
Net cash provided by financing activities (818,784) 307,434
Increase in cash and cash equivalents 1,234,574 67,883
Cash, cash equivalents and restricted cash at beginning of the period 354,074 378,131
Cash, cash equivalents and restricted cash at end of the period 1,588,648 446,014
Cash payments for:    
Interest 311,469 242,863
Income taxes 2,719 3,278
Supplemental schedule of noncash investing and financing activities    
Transfers from bank premises to foreclosed properties 0 8,553
American National    
Supplemental schedule of noncash investing and financing activities    
Issuance of common stock in exchange for net assets in acquisitions   505,402
Assets acquired   2,948,016
Liabilities assumed   2,724,816
Sandy Spring    
Supplemental schedule of noncash investing and financing activities    
Issuance of common stock in exchange for net assets in acquisitions 1,275,441  
Assets acquired 12,988,972  
Liabilities assumed 12,209,862  
Cary Street Partners, LLC    
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of equity interest $ (14,300) $ 0