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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 $ 175,648 $ 167,921 $ 96,951
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 13,076 12,656 11,012
Provision charge (benefit) for credit losses 8,388 (24,339) 29,719
Credit loss (benefit) charge for off-balance sheet credit exposure (3,384) 1,515 1,814
Deferred tax expense (benefit) 2,220 12,413 (7,929)
Amortization of operating lease right-of-use assets 10,617 10,074 9,012
Income on Bank-owned life insurance (5,988) (7,930) (6,491)
Net amortization of premiums and discounts on securities 12,673 15,841 10,058
Accretion of net deferred loan fees (9,262) (7,763) (9,492)
Amortization of premiums on purchased loans, net 270 604 1,032
Originations of loans held for sale (22,295) (47,675) (87,413)
Proceeds from sales of loans originated for sale 20,521 49,530 89,126
ESOP expense 4,140 4,318 2,401
Allocation of stock award shares 9,407 5,451 5,330
Allocation of stock options 198 200 189
Net gain on sale of loans (1,515) (1,855) (1,713)
Net gain on securities transactions (181) (255) (81)
Net gain on sale of premises and equipment (22) (42) (947)
Net gain on sale of foreclosed assets (8,541) (461) (821)
(Increase) decrease in accrued interest receivable (9,913) 4,460 8,472
(Increase) decrease in other assets (56,291) 10,264 (106,811)
Increase (decrease) in other liabilities 60,544 (48,113) 59,883
Net cash provided by operating activities 200,310 156,814 103,301
Cash flows from investing activities:      
Net (increase) decrease in loans (649,216) 253,221 (717,947)
Proceeds from sales of foreclosed assets 16,155 1,368 3,610
Proceeds from maturities, calls and paydowns of investment securities held to maturity 73,841 47,637 62,051
Purchases of investment securities held to maturity (27,043) (34,599) (49,228)
Proceeds from sales of securities available for sale 0 9,442 13,905
Proceeds from maturities calls and paydowns of securities available for sale 278,779 393,173 350,335
Purchases of securities available for sale (290,426) (1,400,980) (248,863)
Proceeds from redemption of Federal Home Loan Bank stock 162,987 30,870 115,630
Purchases of Federal Home Loan Bank stock (197,251) (5,671) (106,605)
Cash received, net of cash consideration paid for acquisition 0 0 78,089
BOLI claim benefits received 970 7,964 6,527
Purchases of loans (6,971) (5,230) 0
Proceeds from sales of premises and equipment 22 42 947
Purchases of premises and equipment (9,411) (13,805) (12,825)
Net cash used in investing activities (647,564) (716,568) (504,374)
Cash flows from financing activities:      
Net (decrease) increase in deposits (670,988) 1,396,183 977,442
Increase in mortgage escrow deposits 1,265 142 7,494
Purchase of treasury stock (46,530) (20,711) (21,161)
Purchase of employee restricted shares to fund statutory tax withholding (1,021) (961) (969)
Cash dividends paid to stockholders (72,023) (71,478) (65,823)
Shares issued to dividend reinvestment plan 0 0 451
Stock options exercised 0 887 0
Proceeds from long-term borrowings 3,982,100 913,685 2,429,999
Payments on long-term borrowings (3,252,556) (1,454,440) (2,286,722)
Net decrease in short-term borrowings (18,948) (8,443) (294,033)
Repayment of subordinated debentures 0 (15,000) 0
Net cash (used in) provided by financing activities (78,701) 739,864 746,678
Net (decrease) increase in cash and cash equivalents (525,955) 180,110 345,605
Cash and cash equivalents at beginning of period 685,163 418,053 145,748
Restricted cash at beginning of period 27,300 114,300 41,000
Total cash, cash equivalents and restricted cash at beginning of period 712,463 532,353 186,748
Cash and cash equivalents at end of period 186,438 685,163 418,053
Restricted cash at end of period 70 27,300 114,300
Total cash, cash equivalents and restricted cash at end of period 186,508 712,463 532,353
Cash paid during the period for:      
Interest on deposits and borrowings 46,896 35,910 49,419
Income taxes 51,050 57,471 36,514
Non cash investing activities:      
Transfer of loans receivable to foreclosed assets 1,208 434 2,516
Non-cash assets acquired at fair value:      
Investment securities 0 0 255,242
Loans, net 0 0 1,752,529
Bank-owned life insurance 0 0 37,237
Goodwill and other intangible assets, net 0 0 32,404
Bank premises and equipment 0 0 16,620
Other assets 0 0 23,587
Total non-cash assets acquired at fair value 0 0 2,117,619
Liabilities assumed:      
Deposits 0 0 1,757,777
Borrowings and subordinated debt 0 0 226,656
Other Liabilities 0 0 30,447
Total liabilities assumed 0 0 2,014,880
Common stock issued for acquisitions $ 0 $ 0 $ 180,828