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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 283,743 $ 339,889 $ 60,351
Adjustments to net income:      
Depreciation and amortization expense 14,752 15,977 13,349
Provision for credit losses 4,832 (70,876) 191,816
Share-based compensation expense 18,925 13,264 10,859
Loss on sale and disposal of premises and equipment 89 234 255
Loss on sale of or write down of other real estate owned 0 0 112
Net amortization on securities 18,618 24,468 15,971
Net (accretion) of discounts/premiums for acquired loans and deferred loan fees/costs (27,310) (41,162) (40,291)
Gain on sale of investment securities available-for-sale (1,710) (16,906) (13,882)
Loss on debt extinguishment 0 180 0
Originations of loans held for sale (61,237) (51,098) (14,251)
Proceeds from the sales of and principal payments from loans held for sale 73,300 44,734 16,552
Gain on sales of loans (3,238) (4,428) (8,609)
Deferred income tax expense (benefit) 5,899 28,807 (42,622)
Change in accrued expenses and other liabilities, net 6,512 (29,038) (9,455)
Income from bank owned life insurance, net (10,658) (9,000) (5,538)
Amortization of intangible assets 13,983 15,936 17,072
Change in accrued interest receivable and other assets, net 74,532 59,234 20,609
Net cash provided by operating activities 411,032 320,215 212,298
Cash flows from investing activities:      
Net decrease in interest-bearing time deposits with financial institutions 482 629 0
Proceeds from sales of other real estate owned 0 0 534
Loan originations and payments, net (431,181) (1,022,505) 53,972
Proceeds from sales of loans previously classified as loans held for investment 5,800 1,530 1,338,325
Purchase of loans held for investment (797) 0 (66,470)
Purchase of securities held-to-maturity 0 (48,695) 0
Proceeds from prepayments and maturities of securities held-to-maturity 20,115 10,334 13,959
Purchase of securities available-for-sale (986,997) (2,231,699) (2,715,499)
Proceeds from prepayments and maturities of securities available-for-sale 326,980 563,061 268,463
Proceeds from sales of securities available-for-sale 936,413 901,137 766,512
Proceeds from the sales of premises and equipment 0 55 42
Proceeds from surrender of bank owned life insurance 0 1,809 17,799
Purchase of bank owned life insurance 0 (150,000) 0
Purchases of premises and equipment (7,476) (9,290) (11,408)
Change in FHLB, FRB, and other stock (10,571) (62) (22,664)
Funding of CRA investments, net (12,861) (24,001) (10,182)
Change in cash acquired in acquisitions, net 0 0 937,100
Net cash (used in) provided by investing activities (160,093) (2,007,697) 570,483
Cash flows from financing activities:      
Net increase in deposit accounts 236,812 901,412 399,678
Net change in short-term borrowings (358,000) 548,000 (691,000)
Proceeds from long-term borrowings 800,000 (21,503) (5,000)
Redemption of subordinated debentures 0 (171,153) 0
Proceeds from issuance of subordinated debt, net 0 0 147,359
Cash dividends paid (125,160) (121,887) (79,901)
Repurchase and retirement of common stock 0 (18,067) 0
Proceeds from exercise of stock options 873 1,001 1,652
Restricted stock surrendered and canceled (8,918) (6,384) (1,653)
Net cash provided by (used in) financing activities 545,607 1,111,419 (228,865)
Net change in cash and cash equivalents 796,546 (576,063) 553,916
Cash and cash equivalents, beginning of year 304,703 880,766 326,850
Cash and cash equivalents, end of year 1,101,249 304,703 880,766
Supplemental cash flow disclosures:      
Interest paid 59,149 38,761 57,020
Income taxes paid 75,294 86,535 36,158
Noncash investing activities during the period:      
Transfers from portfolio loans to loans held for sale 6,399 1,006 1,330,946
Transfers from loans to other real estate owned 0 0 208
Transfers of investment securities from available-for-sale to held-to-maturity 1,019,472 319,924 0
Transfer of investment securities from other stock to held-to-maturity 7,000 0 0
Recognition of operating lease right-of-use assets (1,635) (5,003) (12,277)
Recognition of operating lease liabilities 1,635 5,003 12,277
Assets acquired and liabilities assumed in acquisitions:      
Fair value of stock and equity award consideration 0 0 749,603
Cash consideration 0 0 2
Fair value of assets acquired 0 0 8,102,281
Liabilities assumed $ 0 $ 0 $ 7,352,676