XML 23 R9.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 210,070 $ 255,058
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 11,164 12,147
Provision for credit losses 1,994 (56,228)
Share-based compensation expense 14,171 9,911
Loss on sales and disposals of premises and equipment 54 179
Net amortization on securities 14,127 17,078
Net (accretion) of discounts/premiums for acquired loans and deferred loan fees/costs (22,328) (31,955)
Gain on sales of investment securities available-for-sale (1,710) (13,321)
Loss on debt extinguishment 0 180
Gain on sales of loans (3,087) (3,094)
Deferred income tax expense 5,561 29,111
Income from bank owned life insurance, net (7,949) (6,071)
Amortization of intangible assets 10,543 12,056
Originations of loans held for sale (57,685) (34,902)
Proceeds from the sales of and principal payments from loans held for sale 69,478 29,973
Change in accrued expenses and other liabilities, net 6,075 (17,404)
Change in accrued interest receivable and other assets, net 82,719 53,953
Net cash provided by operating activities 333,197 256,671
Cash flows from investing activities:    
Net decrease in interest-bearing time deposits with financial institutions 483 137
Loan originations and payments, net (664,678) (719,657)
Proceeds from loans held for sale previously classified as portfolio loans 0 1,530
Purchase of loans held for investment (797) 0
Proceeds from prepayments and maturities of securities held-to-maturity 15,570 7,509
Purchase of securities available-for-sale (986,997) (2,079,198)
Proceeds from prepayments and maturities of securities available-for-sale 248,629 429,235
Proceeds from sales of securities available-for-sale 936,413 630,437
Proceeds from the sales of premises and equipment 0 26
Proceeds from surrender of bank owned life insurance 0 1,400
Purchase of bank owned life insurance 0 (150,000)
Purchase of premises and equipment (4,961) (6,318)
Change in FHLB, FRB, and other stock, at cost (2,321) 3
Funding of CRA investments, net (10,910) (19,001)
Net cash used in investing activities (469,569) (1,903,897)
Cash flows from financing activities:    
Net increase in deposit accounts 630,785 1,255,822
Net change in short-term borrowings (358,000) 140,000
Proceeds from long-term borrowings 400,000 0
Repayments of long-term borrowings 0 (21,503)
Redemption of junior subordinated debt securities 0 (171,153)
Cash dividends paid (93,806) (90,747)
Repurchase and retirement of common stock 0 (18,067)
Proceeds from exercise of stock options 759 782
Restricted stock surrendered and canceled (8,858) (6,354)
Net cash provided by financing activities 570,880 1,088,780
Net increase (decrease) in cash and cash equivalents 434,508 (558,446)
Cash and cash equivalents, beginning of period 304,703 880,766
Cash and cash equivalents, end of period 739,211 322,320
Supplemental cash flow disclosures:    
Interest paid 28,638 29,745
Income taxes paid, net 47,932 56,472
Noncash investing activities during the period:    
Transfers from portfolio loans to loans held for sale 0 1,006
Transfers of investment securities from available-for-sale to held-to-maturity 1,019,472 154,456
Recognition of operating lease right-of-use assets (1,183) (3,812)
Recognition of operating lease liabilities $ 1,183 $ 3,812