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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES      
Net income $ 256,412 $ 271,156 $ 254,904
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 48,962 47,220 49,038
Provision for credit losses 14,074 (32,704) 74,973
Loss (gain) on sale of investments 278 (15,498) (54,806)
Net accretion of investment securities and assets (39,031) (52,781) (56,771)
Net amortization on borrowings 313 1,257 541
Stock-based compensation expense 15,317 15,868 13,197
Gain on sale of premises and equipment, net of impairment 0 (591) (14)
Gain on sale of foreclosed assets and other real estate owned (390) (932) (391)
Gain on sale of mortgage loans held for sale (7,945) (36,434) (44,864)
Gain on sale of other intangibles 0 0 (301)
Gain on sale of branches 0 (5,316) (8,094)
Gain on sale of loans (282) 0 0
Fair value write-down of closed branches 0 0 434
Deferred income taxes 14,933 10,937 (122)
Income from bank owned life insurance (11,164) (9,477) (7,206)
Loss from early retirement of TruPS 365 0 0
Originations of mortgage loans held for sale (497,815) (1,034,716) (1,206,818)
Proceeds from sale of mortgage loans held for sale 538,630 1,190,891 1,172,406
Changes in assets and liabilities:      
Interest receivable (22,107) 4,423 (10,846)
Other assets (7,214) (33,495) (7,480)
Accrued interest and other liabilities 10,417 (50,620) 50,508
Income taxes payable 8,445 8,592 (15,745)
Net cash provided by operating activities 322,198 277,780 202,543
INVESTING ACTIVITIES      
Net change in loans (1,900,325) 2,333,893 1,327,248
Proceeds from sale of loans 73,746 28,033 49,736
Decrease in due from banks - time 1,087 292 2,975
Purchases of premises and equipment, net (35,268) (47,861) (13,272)
Proceeds from sale of premises and equipment 0 5,621 369
Proceeds from sale of foreclosed assets and other real estate owned 4,754 21,983 10,788
Proceeds from sale of available-for-sale securities 0 342,577 1,717,364
Proceeds from maturities of available-for-sale securities 1,137,923 1,001,669 2,346,930
Purchases of available-for-sale securities (261,375) (5,266,148) (4,140,963)
Proceeds from maturities of held-to-maturity securities 86,229 15,712 13,970
Purchases of held-to-maturity securities (331,273) (708,580) (308,854)
Proceeds from bank owned life insurance death benefits 1,873 3,814 2,018
Purchases of bank owned life insurance 0 (160,000) 0
Cash received in business combinations, net 276,396 25,425 0
Disposition of assets and liabilities held for sale 0 (134,166) 181,560
Net cash (used in) provided by investing activities (946,233) (2,537,736) 1,189,869
FINANCING ACTIVITIES      
Net change in deposits 462,530 847,494 1,086,713
Repayments of subordinated debentures (56,189) (1,563) (7,442)
Dividends paid on preferred stock 0 (47) (52)
Dividends paid on common stock (94,096) (78,845) (74,593)
Net change in other borrowed funds (516,726) (80,254) 45,983
Net change in federal funds purchased and securities sold under agreements to repurchase (25,000) (116,562) 148,966
Net shares (cancelled) issued under stock compensation plans (5,033) 290 (4,087)
Shares issued under employee stock purchase plan 1,151 1,170 956
Repurchase of common stock (111,133) (132,459) (113,327)
Retirement of preferred stock 0 (767) 0
Net cash (used in) provided by financing activities (344,496) 438,457 1,083,117
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (968,531) (1,821,499) 2,475,529
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,650,653 3,472,152 996,623
CASH AND CASH EQUIVALENTS, END OF YEAR $ 682,122 $ 1,650,653 $ 3,472,152