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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
OPERATING ACTIVITIES    
Net income $ 32,388 $ 38,871
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,759 11,531
Provision for credit losses 26,797 10,206
Net amortization of investment securities and assets 4,214 4,676
Net amortization on borrowings 38 38
Stock-based compensation expense 5,290 4,413
Loss on sale of closed branches 17 0
(Gain) loss on sale of foreclosed assets and other real estate owned (87) 5
Gain on sale of mortgage loans held for sale (2,007) (1,864)
Loss on sale of loans 22 0
Deferred income taxes (1,087) 379
Income from bank owned life insurance (4,099) (4,165)
Originations of mortgage loans held for sale (58,355) (60,656)
Proceeds from sale of mortgage loans held for sale 63,428 59,994
Changes in assets and liabilities:    
Interest receivable 5,845 (351)
Other assets (16,913) (17,362)
Accrued interest and other liabilities (27,856) 17,390
Income taxes payable (5,598) (5,511)
Net cash provided by operating activities 32,796 57,594
INVESTING ACTIVITIES    
Net change in loans (106,515) (163,909)
Proceeds from sale of loans 8,578 211
Proceeds from sale of closed branches 11,077 0
Purchases of premises and equipment, net (10,151) (9,848)
Proceeds from sale of foreclosed assets and other real estate owned 1,591 1,218
Proceeds from maturities of available-for-sale securities 74,517 114,212
Purchases of available-for-sale securities (7,796) 0
Proceeds from maturities of held-to-maturity securities 19,112 17,037
Purchases of bank owned life insurance (27) 0
Proceeds from bank owned life insurance death benefits 607 1,376
Net cash used in investing activities (9,007) (39,703)
FINANCING ACTIVITIES    
Net change in deposits (201,130) 108,026
Proceeds from issuance of other borrowed funds 865,000 575,000
Repayments of other borrowed funds (725,509) (675,492)
Dividends paid on common stock (26,759) (26,337)
Net change in federal funds purchased and securities sold under agreements to repurchase 13,024 (9,209)
Net shares cancelled under stock compensation plans (2,342) (1,638)
Shares issued under employee stock purchase plan 836 970
Net cash used in financing activities (76,880) (28,680)
DECREASE IN CASH AND CASH EQUIVALENTS (53,091) (10,789)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 687,377 614,092
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 634,286 $ 603,303