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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 90,701 $ 80,345
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 5,935 5,946
Provision for loan losses 18,550 1,565
Securities premium amortization (discount accretion), net 17,018 12,217
Gain on sale of assets, net (3,719) (804)
Deferred federal income tax (expense) benefit (407) 2,206
Change in loans held-for-sale (36,018) (631)
Change in other assets (16,452) 2,649
Change in other liabilities 38,274 5,219
Total adjustments 23,181 28,367
Net cash provided by operating activities 113,882 108,712
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash received in acquisition of TB&T Bancshares, Inc. 61,028 0
Net decrease in interest-bearing time deposits in banks 0 498
Activity in available-for-sale securities:    
Sales 252,958 66,052
Maturities 5,654,371 2,201,877
Purchases (6,392,611) (2,280,686)
Net increase in loans (614,577) (88,629)
Purchases of bank premises and equipment (7,681) (6,360)
Proceeds from sale of bank premises and equipment and other assets 1,144 187
Net cash used in investing activities (1,045,368) (107,061)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in noninterest-bearing deposits 638,726 51,445
Net increase in interest-bearing deposits 365,985 137,932
Net increase (decrease) in borrowings 67,868 (106,701)
Common stock transactions:    
Proceeds from stock issuances 2,481 3,186
Dividends paid (33,371) (28,463)
Repurchase of stock (8,008) 0
Net cash provided by financing activities 1,033,681 57,399
NET INCREASE IN CASH AND CASH EQUIVALENTS 102,195 59,050
CASH AND CASH EQUIVALENTS, beginning of period 282,604 248,647
CASH AND CASH EQUIVALENTS, end of period 384,799 307,697
SUPPLEMENTAL INFORMATION AND NONCASH TRANSACTIONS:    
Interest paid 10,246 15,062
Federal income taxes paid 0 12,752
Transfer of loans and bank premises to other real estate 45 364
Investment securities purchased but not settled 33,554 29,355
Restricted stock grant to officers and directors 913 1,426
Stock issued in acquisition of TB&T Bancshares, Inc. $ 220,273 $ 0