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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities    
Interest and dividends received $ 236,887 $ 200,495
Service charges and other fees received 22,642 18,083
Interest paid (2,373) (3,572)
Net cash paid to vendors, employees and others (95,770) (97,222)
Income taxes (32,998) (47,085)
Net cash provided by operating activities 128,388 70,699
Cash Flows from Investing Activities    
Proceeds from redemption of FHLB stock 4,712
Net change in interest-earning balances from depository institutions 28,617 17,305
Proceeds from repayment of investment securities available-for-sale 282,175 424,999
Proceeds from maturity of investment securities available-for-sale 1,226
Purchases of investment securities available-for-sale (1,092,577) (949,645)
Proceeds from repayment and maturity of investment securities held-to-maturity 213,907 82,937
Purchases of investment securities held-to-maturity (532,474) (545,681)
Increase decrease (increase) in equity investments 511 (5,692)
Net (increase) decrease in loan and lease finance receivables (20,423) 297,796
Proceeds from sale of building, net of selling costs 8,315 1,157
Purchase of premises and equipment (2,307) (2,299)
Purchase of BOLI (25,000)
Proceeds from BOLI death benefit 3,096 11,121
Proceeds from sales of other real estate owned 3,869
Cash acquired from acquisition, net of cash paid 329,001
Net cash used in investing activities (776,221) (689,133)
Cash Flows from Financing Activities    
Net (decrease) increase in other deposits (38,815) 968,729
Net (decrease) increase in time deposits (47,979) (36,173)
Net decrease in other borrowings (2,281) (5,000)
Net (decrease) increase in customer repurchase agreements (139,559) 138,801
Repayment of junior subordinated debentures (25,774)
Cash dividends on common stock (49,873) (48,874)
Repurchase of common stock (40,464) (534)
Repurchase of common stock, ASR Plan (70,000)
Proceeds from exercise of stock options 965 964
Net cash (used in) provided by financing activities (388,006) 992,139
Net (decrease) increase in cash and cash equivalents (1,035,839) 373,705
Cash and cash equivalents, beginning of period 1,732,548 1,958,160
Cash and cash equivalents, end of period 696,709 2,331,865
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities    
Net earnings 104,618 115,072
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Gain on sale of building, net (2,717) (189)
Gain on sale of other real estate owned (477)
Increase in BOLI (1,952) (5,864)
Net amortization of premiums and discounts on investment securities 15,353 14,908
Accretion of discount for acquired loans, net (3,693) (7,511)
Provision for (recapture of) credit losses 6,100 (21,500)
(Recapture of) provision for unfunded loan commitments 0 (1,000)
Stock-based compensation 3,577 2,672
Depreciation and amortization, net 5,749 (4,838)
Change in other assets and liabilities 1,353 (20,574)
Total adjustments 23,770 (44,373)
Net cash provided by operating activities 128,388 70,699
Supplemental Disclosure of Non-cash Investing Activities    
Securities purchased and not settled 80,230 110,430
Issuance of common stock for acquisition $ 197,069