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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 43,089 $ 52,814  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,831 6,801  
Provision (benefit) for credit losses 3,245 (648)  
Net amortization of premium on securities 19,352 8,991  
Securities (gains) losses, net (2,872) 30  
Unrealized gain on equity securities, net 283 110  
Stock based compensation 2,704 2,760  
Loans originated for sale (99,331) (124,380)  
Proceeds on sales of loans held for sale 101,260 145,200  
Net gains on sale of loans held for sale (2,974) (5,908)  
Decrease in accrued interest receivable 6,282 26  
Increase in prepaid expenses (4,765) (578)  
Increase (decrease) in accrued interest payable (100) 236  
Capitalization of servicing rights (437) (512)  
Valuation adjustment on servicing rights (1,658) (917)  
Loss on sales/valuations of assets, net 46 194  
Net excess tax benefit from stock based compensation 172 153  
Other, net 12,652 (17,816)  
NET CASH PROVIDED BY OPERATING ACTIVITIES 83,779 66,556  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of time deposits in other financial institutions 0 (9)  
Proceeds from the sale of securities available for sale 824,071 207,067  
Proceeds from the sale of securities held to maturity 2,337 0  
Proceeds from the maturity of and principal paydowns on securities available for sale 290,347 159,773  
Proceeds from the maturity of and principal paydowns on securities held to maturity 1,067 3,909  
Proceeds from the sale, maturity of, redemption of and principal paydowns on other investments 1,982 1,003  
Purchase of securities available for sale (1,007,992) (709,690)  
Purchase of other investments (1,385) (685)  
Net increase in loans (235,696) (29,674)  
Purchase of bank owned life insurance policies (5) (22)  
Capital expenditures (2,544) (3,776)  
Proceeds from the sale of equipment 214 1,311  
Proceeds on sale of OREO and other repossessed assets 1,157 1,209  
NET CASH USED BY INVESTING ACTIVITIES (126,447) (369,584)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in demand deposits (119,077) 487,136  
Net increase in savings deposits 338,518 159,547  
Net increase (decrease) in time deposit accounts 29,988 (67,537)  
Net decrease in short-term borrowings (24,225) (27,275)  
Repayments of other borrowings (79) (107,807)  
Proceeds from issuance of common stock 274 196  
Dividends paid (13,428) (11,273)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 211,971 432,987  
Net increase in cash and cash equivalents 169,303 129,959  
Cash and cash equivalents at beginning of year 435,599 337,903 $ 337,903
CASH AND CASH EQUIVALENTS AT END OF PERIOD 604,902 467,862 $ 435,599
Supplemental disclosures:      
Cash paid for income/franchise taxes 32 15,744  
Cash paid for interest 6,683 7,611  
Loans transferred to OREO 653 585  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale 3,250 1,140  
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net 0 6  
Dividends declared, not paid $ 2,013 $ 2,013