XML 25 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities      
Net income $ 581,992 $ 428,287 $ 277,538
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 38,180 36,436 27,276
Amortization of other intangible assets 24,155 25,857 11,336
Amortization of tax credit investments 15,367 10,961 6,770
Net premium amortization on investment securities 7,416 18,684 16,305
Accretion income related to acquired loans (22,191) (72,007) (16,747)
Share-based compensation expense 27,910 28,656 7,497
Provision (release) for credit losses 58,887 144,799 (29,622)
Debt securities (gains) losses, net 6,265 88 (4,327)
Gain on sale of Visa Class B restricted shares (21,635) 0 0
Gain on sale of health savings accounts 0 (90,673) 0
Net (gains) losses on sales of loans and other assets (3,074) 13,114 (36,677)
Increase in cash surrender value of company-owned life insurance (15,397) (14,564) (10,589)
Residential real estate loans originated for sale (473,478) (570,111) (1,215,015)
Proceeds from sales of residential real estate loans 472,537 620,958 1,274,812
(Increase) decrease in interest receivable (34,637) (52,911) 1,198
(Increase) decrease in other assets (66,070) (40,518) 2,641
Increase (decrease) in accrued expenses and other liabilities (79,885) 327,369 17,984
Net cash flows provided by (used in) operating activities 516,342 814,425 330,380
Cash Flows From Investing Activities      
Cash received from merger, net 0 1,912,629 0
Sale of health savings accounts 0 (290,857) 0
Purchases of investment securities available-for-sale (1,084,416) (1,438,572) (3,321,653)
Purchases of investment securities held-to-maturity (1,941) (170,675) 0
Purchases of Federal Home Loan Bank/Federal Reserve Bank stock (99,158) (147,394) 0
Purchases of equity securities (28,408) (6,348) (11,000)
Proceeds from maturities, prepayments, and calls of investment securities    available-for-sale 1,066,266 1,284,814 1,511,510
Proceeds from sales of investment securities available-for-sale 96,506 20,032 198,886
Proceeds from maturities, prepayments, and calls of investment securities held-to-maturity 94,511 83,962 0
Proceeds from sales of Federal Home Loan Bank/Federal Reserve Bank stock 47,738 108,698 58
Proceeds from sales of equity securities 24,636 53,029 544
Loan originations and payments, net (2,673,593) (3,071,765) 206,145
Proceeds from sales of commercial loans 757,593 0 0
Proceeds from company-owned life insurance death benefits 16,252 10,361 3,375
Proceeds from sale of premises and equipment and other assets 3,513 4,480 29,244
Purchases of premises and equipment and other assets (38,375) (37,901) (48,692)
Net cash flows provided by (used in) investing activities (1,818,876) (1,685,507) (1,431,583)
Net increase (decrease) in:      
Deposits 2,234,350 (435,717) 1,531,742
Federal funds purchased and interbank borrowings (581,099) 581,213 (890)
Securities sold under agreements to repurchase (147,598) (94,665) (38,891)
Other borrowings 16,938 177,146 36,187
Payments for maturities of Federal Home Loan Bank advances (2,250,149) (2,102,506) (146,505)
Payments for modification of Federal Home Loan Bank advances 0 0 (2,156)
Proceeds from Federal Home Loan Bank advances 2,700,000 2,900,000 50,000
Cash dividends paid (180,030) (177,623) (92,829)
Common stock repurchased (44,308) (71,182) (3,731)
Common stock issued 1,076 809 583
Net cash flows provided by (used in) financing activities 1,749,180 777,475 1,333,510
Net increase (decrease) in cash and cash equivalents 446,646 (93,607) 232,307
Cash and cash equivalents at beginning of period 728,412 822,019 589,712
Cash and cash equivalents at end of period $ 1,175,058 $ 728,412 $ 822,019