XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 187,481 $ 186,097
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (benefit) for credit losses 21,300 (1,564)
Depreciation, amortization and accretion, net 32,425 44,142
Deferred income tax (benefit) provision (13,322) 13,807
Stock-based compensation 7,163 7,718
Other losses 1,243 2,780
Originations of loans held for sale (11,483) (14,243)
Proceeds from sales of loans held for sale 12,613 13,452
Change in assets and liabilities:    
Net decrease in other assets 20,495 7,348
Net (decrease) increase in other liabilities (44,095) 62,054
Net cash provided by operating activities 213,820 321,591
Available-for-sale securities:    
Proceeds from maturities and principal repayments 345,798 752,306
Proceeds from calls and sales 25,236 1,080
Purchases   (938,268)
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 238,722 254,157
Proceeds from calls 7,950 395
Purchases   (79,470)
Other investments:    
Proceeds from sales 78,746 5,496
Purchases (102,639) (29,514)
Loans:    
Net increase in loans and leases resulting from originations and principal repayments (214,539) (521,025)
Purchases of loans (48,911) (225,844)
Proceeds from bank-owned life insurance 5,632  
Purchases of premises, equipment and software (8,283) (10,747)
Other 313 (2,994)
Net cash provided by (used in) investing activities 328,025 (794,428)
Cash flows from financing activities    
Net (decrease) increase in deposits (177,540) 275,592
Proceeds from long-term borrowings 500,000  
Net decrease in other short-term borrowings (75,000)  
Dividends paid (99,468) (99,475)
Stock tendered for payment of withholding taxes (3,196) (3,561)
Proceeds from employee stock purchase plan 163 224
Common stock repurchased   (9,478)
Net cash provided by financing activities 144,959 163,302
Net increase (decrease) in cash and cash equivalents 686,804 (309,535)
Cash and cash equivalents at beginning of period 526,624 1,258,469
Cash and cash equivalents at end of period 1,213,428 948,934
Supplemental disclosures    
Interest paid 173,712 21,006
Income taxes paid, net of income tax refunds 50,098 23,471
Noncash investing and financing activities:    
Operating lease right-of-use assets obtained in exchange for new lease obligations 3,239 5,603
Transfers to loans and leases from loans held for sale   834
Transfers to loans held for sale from loans and leases 1,133  
Obligation to fund low-income housing partnerships $ 25,836 3,569
Transfers of securities from available-for-sale to held-to-maturity   $ 4,550,748