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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 66,818 $ 57,719
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 8,800 (5,747)
Depreciation, amortization and accretion, net 10,827 15,581
Deferred income tax provision 4,330 15,059
Stock-based compensation 2,320 3,135
Other losses 1,223 1,566
Originations of loans held for sale (1,468) (6,566)
Proceeds from sales of loans held for sale 1,447 6,194
Change in assets and liabilities:    
Net increase in other assets (9,536) (33,509)
Net (decrease) increase in other liabilities (2,128) 12,830
Net cash provided by operating activities 82,633 66,262
Available-for-sale securities:    
Proceeds from maturities and principal repayments 119,692 383,290
Proceeds from calls and sales   970
Purchases   (563,925)
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 68,854  
Proceeds from calls 220  
Other investments:    
Proceeds from sales 13,984 2,690
Purchases (42,251) (2,841)
Loans:    
Net (increase) decrease in loans and leases resulting from originations and principal repayments (88,408) 180,505
Purchases of loans (48,741) (114,677)
Proceeds from bank-owned life insurance 4,932  
Purchases of premises, equipment and software (1,555) (2,695)
Proceeds from sales of other real estate owned   176
Other (1,614)  
Net cash provided by (used in) investing activities 25,113 (116,507)
Cash flows from financing activities    
Net (decrease) increase in deposits (407,529) 454,284
Net increase in short-term borrowings 175,000  
Proceeds from long-term borrowings 500,000  
Dividends paid (33,114) (33,151)
Stock tendered for payment of withholding taxes (3,135) (3,197)
Net cash provided by financing activities 231,222 417,936
Net increase in cash and cash equivalents 338,968 367,691
Cash and cash equivalents at beginning of period 526,624 1,258,469
Cash and cash equivalents at end of period 865,592 1,626,160
Supplemental disclosures    
Interest paid 40,937 3,545
Income taxes paid, net of income tax refunds 1,761 2,124
Noncash investing and financing activities:    
Operating lease right-of-use assets obtained in exchange for new lease obligations $ 1,306 761
Transfers to loans and leases from loans held for sale   $ (834)