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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 62,562 $ 66,904
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 3,552 3,726
Provision for credit losses 3,016 448
Share-based compensation expense 4,729 5,530
Loss on sales and disposals of premises and equipment 4 37
Net amortization on securities 3,481 5,023
Net (accretion) of discounts/premiums for acquired loans and deferred loan fees/costs (4,254) (7,353)
Net gain on sales of investment securities available-for-sale (138) (2,134)
Net gain on sales of loans (29) (1,494)
Deferred income tax expense 4,824 7,887
Income from bank owned life insurance, net (2,722) (2,617)
Amortization of intangible assets 3,171 3,592
Originations of loans held for sale (766) (18,769)
Proceeds from the sales of and principal payments from loans held for sale 833 19,486
Change in accrued expenses and other liabilities, net (15,519) 15,207
Change in accrued interest receivable and other assets, net 12,427 36,904
Net cash provided by operating activities 75,171 132,377
Cash flows from investing activities:    
Proceeds from sales of other real estate owned 1,241 0
Loan originations and payments, net 506,197 (430,951)
Proceeds from loans held for sale previously classified as portfolio loans 5,778 0
Purchase of securities held-to-maturity (8,000) 0
Proceeds from prepayments and maturities of securities held-to-maturity 8,238 3,750
Purchase of securities available-for-sale (224,347) (499,168)
Proceeds from prepayments and maturities of securities available-for-sale 47,016 77,817
Proceeds from sales of securities available-for-sale 304,320 647,557
Purchase of premises and equipment (2,463) (2,308)
Change in FHLB, FRB, and other stock 1,875 (95)
Funding of CRA investments, net (9,751) (701)
Net cash provided by (used in) investing activities 630,104 (204,099)
Cash flows from financing activities:    
Net (decrease) increase in deposit accounts (144,591) 573,634
Net change in short-term borrowings (200,000) (358,000)
Proceeds from long-term borrowings 0 400,000
Cash dividends paid (31,357) (31,142)
Proceeds from exercise of stock options 11 334
Restricted stock surrendered and canceled (5,691) (8,548)
Net cash (used in) provided by financing activities (381,628) 576,278
Net increase in cash and cash equivalents 323,647 504,556
Cash and cash equivalents, beginning of period 1,101,249 304,703
Cash and cash equivalents, end of period 1,424,896 809,259
Supplemental cash flow disclosures:    
Interest paid 44,138 3,927
Income taxes paid, net (800) (11,944)
Noncash investing activities during the period:    
Transfers from portfolio loans to loans held for sale 5,707 0
Transfers from loans held for sale to portfolio loans 1,287 0
Transfers from loans to other real estate owned 6,886 0
Transfers of investment securities from available-for-sale to held-to-maturity 360,347 618,678
Transfer of CRA investment securities from other stock to other assets 12,601 0
Recognition of operating lease right-of-use assets (1,337) (459)
Recognition of operating lease liabilities 1,337 459
Receivable on unsettled security sales $ 0 $ 13,464