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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities:    
Net income $ 13,697 $ 48,149
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, amortization, and accretion 9,274 11,804
Provision for credit losses 3,540 1,050
Increase in cash surrender value of life insurance (2,159) (1,701)
Stock-based compensation expense 3,430 3,953
Asset (gains) losses, net 38,786 (2,916)
Gain on sale of loans held for sale, net (1,860) (3,468)
Net change due to:    
Proceeds from sale of loans held for sale 64,117 150,037
Origination of loans held for sale (65,244) (146,891)
Accrued interest receivable and other assets (3,846) 8,112
Accrued interest payable and other liabilities (11,368) (18,787)
Net cash provided by (used in) operating activities 48,367 49,342
Cash Flows From Investing Activities:    
Net (increase) decrease in loans (39,223) (359,145)
Net (increase) decrease in certificates of deposit in other banks 2,710 6,427
Purchases of securities AFS 0 (8,017)
Purchases of securities HTM 0 (56,479)
Proceeds from sales of securities AFS 26,798 3,400
Proceeds from sales of securities HTM 460,051 0
Proceeds from calls and maturities of securities AFS 133,027 47,052
Proceeds from calls and maturities of securities HTM 2,916 12,509
Purchases of other investments (12,022) (11,303)
Proceeds from sales of other investments 18,883 1,734
Proceeds from redemption of BOLI 117 117
Net (increase) decrease in premises and equipment (12,565) (6,173)
Net (increase) decrease in other real estate and other assets 794 9,836
Net cash (paid) received in branch sale 0 147,833
Net cash provided by (used in) investing activities 581,486 (212,209)
Cash Flows From Financing Activities:    
Net increase (decrease) in deposits 19,849 (173,145)
Net increase (decrease) in short-term borrowings (267,000) 0
Repayments of long-term borrowings (28,000) (20,000)
Purchase and retirement of common stock (1,521) (60,712)
Cash dividends paid on common stock (3,698) 0
Proceeds from issuance of common stock 400 372
Proceeds from exercise of stock options 600 2,077
Net cash provided by (used in) financing activities (279,370) (251,408)
Net increase (decrease) in cash and cash equivalents 350,483 (414,275)
Cash and cash equivalents:    
Beginning 154,723 595,292
Ending [1] 505,206 181,017
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 61,769 11,367
Cash paid for taxes 12,400 19,610
Transfer of securities from HTM to AFS 177,727 0
Transfer of loans and bank premises to other real estate owned 0 432
Capitalized mortgage servicing rights $ 620 $ 1,685
[1] There was no restricted cash in cash and cash equivalents at either June 30, 2023 or June 30, 2022.