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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 129,260 $ 117,079
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 13,800 (4,747)
Depreciation, amortization and accretion, net 21,985 30,872
Deferred income tax (benefit) provision (2,024) 14,228
Stock-based compensation 4,730 5,747
Other losses 1,122 2,304
Originations of loans held for sale (5,613) (10,256)
Proceeds from sales of loans held for sale 6,726 9,744
Net losses on sales of loans originated for investment and held for sale 20 36
Change in assets and liabilities:    
Net decrease (increase) in other assets 29,087 (49,614)
Net (decrease) increase in other liabilities (11,483) 50,351
Net cash provided by operating activities 187,610 165,744
Available-for-sale securities:    
Proceeds from maturities and principal repayments 223,102 598,865
Proceeds from calls and sales 25,237 1,080
Purchases   (913,268)
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 153,133 137,014
Proceeds from calls 7,705 110
Purchases   (79,470)
Other investments:    
Proceeds from sales 61,985 4,132
Purchases (81,240) (21,386)
Loans:    
Net increase in loans and leases resulting from originations and principal repayments (240,357) (168,986)
Purchases of loans (48,741) (149,512)
Proceeds from bank-owned life insurance 5,281  
Purchases of premises, equipment and software (4,191) (5,966)
Proceeds from sales of other real estate owned 34 176
Other (2,882) (1,744)
Net cash provided by (used in) investing activities 99,066 (598,955)
Cash flows from financing activities    
Net (decrease) increase in deposits (610,863) 785,308
Net decrease in short-term borrowings (75,000)  
Proceeds from long-term borrowings 500,000  
Dividends paid (66,290) (66,363)
Stock tendered for payment of withholding taxes (3,179) (3,527)
Proceeds from employee stock purchase plan 163  
Common stock repurchased   (7,000)
Net cash (used in) provided by financing activities (255,169) 708,418
Net increase in cash and cash equivalents 31,507 275,207
Cash and cash equivalents at beginning of period 526,624 1,258,469
Cash and cash equivalents at end of period 558,131 1,533,676
Supplemental disclosures    
Interest paid 97,867 8,015
Income taxes paid, net of income tax refunds 29,928 5,356
Noncash investing and financing activities:    
Operating lease right-of-use assets obtained in exchange for new lease obligations 1,680 4,979
Transfers to loans and leases to land held for sale   834
Transfers to loans held for sale from loans and leases $ 1,133  
Transfers of securities from available-for-sale to held-to-maturity   $ 4,133,363