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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 54,220 $ 66,818
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 6,300 8,800
Depreciation, amortization and accretion, net 9,537 10,827
Deferred income tax provision 7,238 4,330
Stock-based compensation 3,242 2,320
Gain On Property Insurance Proceeds (2,202)  
Other (gains) losses (7) 1,223
Originations of loans held for sale (8,624) (1,468)
Proceeds from sales of loans held for sale 8,791 1,447
Change in assets and liabilities:    
Net decrease (increase) in other assets 11,782 (9,536)
Net decrease in other liabilities (23,637) (2,128)
Net cash provided by operating activities 66,640 82,633
Available-for-sale securities:    
Proceeds from maturities and principal repayments 81,385 119,692
Proceeds from calls and sales 10,000  
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 62,525 68,854
Proceeds from calls 345 220
Other investments:    
Proceeds from sales 1,234 13,984
Purchases (12,618) (42,251)
Loans:    
Net decrease (increase) in loans and leases resulting from originations and principal repayments 41,387 (88,408)
Purchases of loans (15,000) (48,741)
Proceeds from bank-owned life insurance   4,932
Proceeds from property insurance 2,202  
Purchases of premises, equipment and software (4,861) (1,555)
Other 104 (1,614)
Net cash provided by investing activities 166,703 25,113
Cash flows from financing activities    
Net decrease in deposits (663,176) (407,529)
Net increase in short-term borrowings   175,000
Proceeds from long-term borrowings   500,000
Dividends paid (33,186) (33,114)
Stock tendered for payment of withholding taxes (2,612) (3,135)
Net cash (used in) provided by financing activities (698,974) 231,222
Net (decrease) increase in cash and cash equivalents (465,631) 338,968
Cash and cash equivalents at beginning of year 1,739,897 526,624
Cash and cash equivalents at end of year 1,274,266 865,592
Supplemental disclosures    
Interest paid 88,594 40,937
Income taxes paid, net of income tax refunds 1,755 1,761
Noncash investing and financing activities:    
Transfers from loans and leases and other assets to other real estate owned 69  
Operating lease right-of-use assets obtained in exchange for new lease obligations   $ 1,306
Obligation to fund low-income housing partnerships $ 8,223