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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 51,873 $ 61,605 $ 94,962 $ 114,419  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     12,964 13,671  
Provision (benefit) for credit losses     6,491 (7,728)  
Net amortization of premium on securities     38,332 18,439  
Securities gains, net 2,089 (2,842) (783) (2,812)  
Unrealized loss on equity securities, net     404 27  
Stock based compensation     5,090 4,776  
Loans originated for sale     (180,072) (244,752)  
Proceeds on sales of loans held for sale     188,317 279,923  
Net gains on sale of loans held for sale     (5,408) (10,470)  
(Increase) decrease in accrued interest receivable     (280) 813  
Decrease in prepaid expenses     (2,194) (1,324)  
Decrease in accrued interest payable     (91) (1,342)  
Capitalization of servicing rights     (904) (703)  
Valuation adjustment on servicing rights 0 526 (1,658) (391)  
(Gain) loss on sales/valuations of assets, net     (139) 377  
Net excess tax benefit from stock based compensation     129 303  
Other, net     33,327 (9,645)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     188,487 153,581  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of time deposits in other financial institutions     0 (9)  
Proceeds from the sale of securities available for sale 149,840 423,415 973,911 630,481  
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     565,196 484,958  
Proceeds from the maturity of and principal paydowns on securities held to maturity     1,286 4,127  
Proceeds from the maturity of time deposits in other financial institutions     1,039 0  
Proceeds from the sale, maturity of, redemption of and principal paydowns on other investments     6,715 2,498  
Purchase of securities available for sale     (1,788,922) (1,571,281)  
Purchase of other investments     (8,714) (4,054)  
Net (increase) decrease in loans     (752,767) 5,203  
Purchase of bank owned life insurance policies     (201) (190)  
Proceeds from bank owned life insurance policies     502 0  
Capital expenditures     (8,181) (11,539)  
Proceeds from the sale of equipment     4,264 3,090  
Net cash expended in divestitures     (50,616) 0  
Proceeds on sale of OREO and other repossessed assets     1,927 1,858  
NET CASH USED BY INVESTING ACTIVITIES     (1,052,224) (454,858)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase (decrease) in demand deposits     (392,811) 610,479  
Net increase in savings deposits     1,203,729 169,519  
Net increase (decrease) in time deposit accounts     61,228 (144,785)  
Net decrease in short-term borrowings     (33,848) (15,309)  
Proceeds from short term advances     141,000 1,700  
Repayments of short term advances     (141,000) (1,700)  
Repayments of other borrowings     (168) (186,356)  
Proceeds from issuance of common stock     1,682 1,519  
Dividends paid     (26,880) (22,565)  
NET CASH PROVIDED BY FINANCING ACTIVITIES     812,932 412,502  
Net increase (decrease) in cash and cash equivalents     (50,805) 111,225  
Cash and cash equivalents at beginning of year     435,599 337,903 $ 337,903
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 384,794 $ 449,128 384,794 449,128 $ 435,599
Supplemental disclosures:          
Cash paid for income/franchise taxes     17,457 31,735  
Cash paid for interest     17,100 16,053  
Loans transferred to OREO     4,684 1,186  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale     4,061 1,564  
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  
Purchases of securities available for sale, accrued, not settled     $ 7,420 $ 0