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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income $ 92,549 $ 142,344
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 24,230 23,837
Provision for credit losses 13,945 (11,506)
(Gain) loss on sale of investments 204 (10,598)
Net accretion of investment securities and assets (24,494) (24,377)
Net amortization on borrowings 192 269
Stock-based compensation expense 8,164 7,592
Gain on sale of premises and equipment, net of impairment 0 (606)
Gain on sale of foreclosed assets and other real estate owned (290) (177)
Gain on sale of mortgage loans held for sale (4,333) (20,006)
Gain on sale of loans (228) 0
Gain on sale of branches 0 (5,300)
Deferred income taxes 917 6,315
Income from bank owned life insurance (5,269) (3,630)
Originations of mortgage loans held for sale (329,833) (534,124)
Proceeds from sale of mortgage loans held for sale 356,085 655,497
Changes in assets and liabilities:    
Interest receivable (1,547) 4,680
Other assets (10,064) (2,402)
Accrued interest and other liabilities 57,874 (58,284)
Income taxes payable (245) 6,786
Net cash provided by operating activities 177,857 176,310
INVESTING ACTIVITIES    
Net change in loans (835,002) 1,520,504
Proceeds from sale of loans 15,556 1,847
Net change in due from banks - time 347 244
Purchases of premises and equipment, net (17,000) (5,829)
Proceeds from sale of premises and equipment 0 5,156
Proceeds from sale of foreclosed assets and other real estate owned 2,819 10,988
Proceeds from sale of available-for-sale securities 0 249,454
Proceeds from maturities of available-for-sale securities 762,094 314,547
Purchases of available-for-sale securities (259,586) (3,672,029)
Proceeds from maturities of held-to-maturity securities 30,848 9,479
Purchases of held-to-maturity securities (329,660) (606,187)
Purchases of bank owned life insurance death benefits 0 (160,000)
Proceeds from bank owned life insurance death benefits 0 3,032
Disposition of assets and liabilities held for sale 0 (134,166)
Purchase of Spirit of Texas Bancshares, Inc. 276,396 0
Net cash used in investing activities (353,188) (2,462,960)
FINANCING ACTIVITIES    
Net change in deposits (49,701) 1,307,965
Dividends paid on preferred stock 0 (26)
Dividends paid on common stock (45,844) (39,010)
Net change in other borrowed funds (315,778) (2,874)
Net change in federal funds purchased and securities sold under agreements to repurchase (30,302) (111,896)
Net shares issued (cancelled) under stock compensation plans (3,905) 1,373
Shares issued under employee stock purchase plan 1,151 1,170
Repurchases of common stock (66,096) (3,080)
Net cash (used in) provided by financing activities (510,475) 1,153,622
DECREASE IN CASH AND CASH EQUIVALENTS (685,806) (1,133,028)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 1,650,653 3,472,152
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 964,847 $ 2,339,124