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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 73,458 $ 70,698
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,680 5,080
Amortization of intangible assets 1,841 2,045
Provision for credit losses 12,167 15,502
Deferred income tax expense 2,384 1,564
Stock-based compensation 2,925 2,075
Unrealized (gain) loss on derivative instruments (108) 3
Net gain on disposals or sales, and impairments of premises and equipment and other assets (33) (8)
Net gain on sales of loans and loans held-for-sale valuation adjustments (759) (766)
Net amortization of discounts, premiums, and deferred loan fees and costs 33 283
Originations and purchases of loans held for sale (35,577) (38,500)
Sales and repayments of loans held for sale 31,588 34,836
Amortization of broker placement fees 130 44
Net amortization of premiums and discounts on investment securities 874 630
Decrease in accrued interest receivable 4,503 8,566
Increase in accrued interest payable 4,567 3,752
(Increase) decrease in other assets (909) 168
Increase in other liabilities 16,482 9,443
Net cash provided by operating activities 118,246 115,415
Cash flows from investing activities:    
Net disbursements on loans held for investment (156,118) (71,193)
Proceeds from sales of loans held for investment 10,162 2,552
Proceeds from sales of repossessed assets 17,784 12,347
Proceeds from principal repayments and maturities of available-for-sale debt securities 166,440 113,218
Proceeds from principal repayments and maturities of held-to-maturity debt securities 5,339 6,652
Additions to premises and equipment (4,140) (1,689)
Proceeds from sales of premises and equipment and other assets 1,280 8
Net purchases of other investments securities (1,737) (11,360)
Proceeds from the settlement of insurance claims - investing activities 667 0
Net cash provided by investing activities 39,677 50,535
Cash flows from financing activities:    
Net decrease in deposits (57,585) (92,354)
Net proceeds of short-term borrowings 0 47,849
Proceeds from long-term borrowings 0 300,000
Repurchase of outstanding common stock (52,354) (53,217)
Dividends paid on common stock (26,629) (25,132)
Net cash (used in) provided by financing activities (136,568) 177,146
Net increase in cash and cash equivalents 21,355 343,096
Cash and cash equivalents at beginning of year 663,164 480,505
Cash and cash equivalents at end of period 684,519 823,601
Cash and cash equivalents include:    
Cash and due from banks 680,734 822,542
Money market investments 3,785 1,059
Cash and Cash Equivalents, at Carrying Value, Total $ 684,519 $ 823,601