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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 51,707 $ 52,776
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,567 5,484
Provision for credit losses 986 3,074
Net amortization of premium on securities 4,894 7,159
Securities losses (gains), net (58) 1,104
Unrealized loss (gain) on equity securities, net (95) (193)
Stock based compensation 3,746 4,719
Loans originated for sale 0 (43,257)
Proceeds on sales of loans held for sale 5,175 39,916
Net gains on sale of loans held for sale (104) (1,807)
(Increase) decrease in accrued interest receivable 1,731 (130)
Decrease (increase) in prepaid expenses (1,729) 806
Increase (decrease) in accrued interest payable (1,151) 13,462
Capitalization of servicing rights 0 (24)
Loss (gain) on sales/valuations of assets, net 214 1,115
Net excess tax benefit (expense) from stock based compensation (418) 46
Income from fair value hedge activity 416 0
Other, net 60,381 (9,818)
NET CASH PROVIDED BY OPERATING ACTIVITIES 130,262 74,432
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of securities available for sale 0 146,448
Proceeds from the maturity of and principal paydowns on securities available for sale 251,683 150,941
Proceeds from the maturity of and principal paydowns on securities held to maturity 71 69
Proceeds from the sale, maturity of, redemption of and principal paydowns on other investments 23,849 3,644
Purchase of securities available for sale (42,484) (187,726)
Purchase of other investments (1,038) (1,441)
Net (increase) decrease in loans 38,429 (66,180)
Purchase of bank owned life insurance policies (56) (51)
Proceeds from sale of mortgage servicing rights 0 6,714
Capital expenditures and investments (565) (248)
Proceeds from the sale of premises, furniture and equipment 1,375 1,270
Proceeds on sale of OREO and other repossessed assets 9,826 1,136
NET CASH PROVIDED BY INVESTING ACTIVITIES 281,090 54,576
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in demand deposits (91,892) (581,786)
Net increase (decrease) in savings deposits 193,906 (737,782)
Net increase (decrease) in time deposit accounts (405,234) 1,487,905
Net increase (decrease) in borrowings 48,964 (234,780)
Proceeds from Bank Term Funding Program advances 500,000 0
Proceeds from short term FHLB advances 0 1,000
Repayments of short term FHLB advances (521,186) (50,000)
Repayments of term debt 0 (30)
Proceeds from issuance of common stock 263 242
Dividends paid (14,820) (14,753)
NET CASH USED BY FINANCING ACTIVITIES (289,999) (129,984)
Net increase (decrease) in cash and cash equivalents 121,353 (976)
Cash and cash equivalents at beginning of year 323,013 363,087
CASH AND CASH EQUIVALENTS AT END OF PERIOD 444,366 362,111
Supplemental disclosures:    
Cash paid for income/franchise taxes 39 1,264
Cash paid for interest 98,658 51,304
Loans transferred to OREO 0 211
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale 13,155 3,741
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net 0 5,167
Deposits transferred to held for sale 596,328 0
Loans transferred to held for sale 352,744 0
Dividends declared, not paid $ 2,071 $ 2,013