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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net Income (Loss) $ 115,367 $ 95,337
Adjustments to reconcile net income to net cash provided by operating activities:    
PCL 27,245 9,458
Depreciation and amortization 18,687 16,448
Net amortization of securities 1,379 3,331
Securities (gains) losses, net 182,792 0
Gains on sales of loans, net (10,160) (6,749)
Gain on disposition of business (228,272) 0
Compensation expense, long-term incentive plan 3,616 3,278
Deferred income tax provision 24,600 (380)
Proceeds from sales of loans held for sale 565,928 556,031
Purchases and originations of loans held for sale (552,255) (613,829)
Originations of mortgage servicing rights (6,664) (6,602)
Earnings on bank-owned life insurance (1,210) (2,531)
Net change in other assets (19,580) (7,525)
Net change in other liabilities (130,212) 8,848
Other operating activities, net (33,095) (28,779)
Net cash from operating activities (41,834) 26,336
Investing Activities    
Proceeds from maturities, prepayments and calls of securities held to maturity 63,771 52,451
Proceeds from maturities, prepayments and calls of securities available for sale 135,708 160,240
Proceeds from sales of securities available for sale 1,378,272 0
Purchases of securities held to maturity (10,644) (8,967)
Purchases of securities available for sale (1,382,457) 0
Net proceeds from bank-owned life insurance (27) (27)
Net change in federal funds sold and securities purchased under reverse repurchase agreements 0 4,000
Net change in member bank stock 6,868 (20,248)
Net change in LHFI (274,150) (412,869)
Proceeds from sale of 1-4 family mortgage loans 43,935 0
Purchases of premises and equipment (11,273) (25,594)
Proceeds from sales of premises and equipment 2,218 1,815
Proceeds from sales of other real estate 3,733 1,154
Purchases of software (2,913) (4,955)
Investments in tax credit and other partnerships (7,334) (9,237)
Proceeds from disposition of business, net 321,345 0
Other, net 200 0
Net cash from investing activities 267,252 (262,237)
Financing Activities    
Net change in deposits (106,875) 476,252
Net change in federal funds purchased and securities sold under repurchase agreements (91,624) (138,152)
Net change in short-term borrowings (150,001) 25,000
Payments on long-term FHLB advances (58) (10)
Payments under finance lease obligations (207) (535)
Common stock dividends (28,413) (28,319)
Shares withheld to pay taxes, long-term incentive plan (1,442) (1,070)
Net cash from financing activities (378,620) 333,166
Net change in cash and cash equivalents (153,202) 97,265
Cash and cash equivalents at beginning of period 975,343 734,587
Cash and cash equivalents at end of period $ 822,141 $ 831,852