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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flow From Operating Activities:      
Net income $ 222,089 $ 205,531 $ 148,600
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses - loans 16,755 0 58,673
Depreciation and amortization 11,815 10,701 11,009
Change in deferred taxes 9,065 6,983 (9,735)
Share-based compensation 4,652 4,762 4,600
Loans originated for sale (251,306) (548,742) (591,057)
Proceeds from sales of loans held for sale 265,723 557,744 611,945
Gains on sales of loans held for sale (4,373) (16,223) (15,817)
Gains on sales of securities available for sale (1,194) (5,674) (11,895)
Increase in cash surrender of life insurance (5,210) (4,873) (5,040)
Gains on life insurance benefits (5,964) (2,187) (100)
Change in interest receivable (20,695) (3,239) (5,047)
Change in interest payable 3,703 (525) (3,467)
Other adjustments 22,985 3,124 11,162
Net cash provided by operating activities 268,045 207,382 203,831
Cash Flows from Investing Activities:      
Net change in interest-bearing deposits 348,093 (81,849) (274,042)
Purchases of:      
Securities available for sale (451,203) (931,368) (613,117)
Securities held to maturity (292,493) (1,156,621) (699,095)
Proceeds from sales of securities available for sale 606,873 181,333 231,391
Proceeds from maturities of:      
Securities available for sale 201,846 279,367 322,617
Securities held to maturity 154,689 227,255 273,229
Change in Federal Home Loan Bank stock 1,899 0 0
Net change in loans (1,165,548) (60,581) (792,986)
Net cash and cash equivalents received (paid) in acquisition 137,780 (2,933) 0
Proceeds from the sale of other real estate owned 496 706 8,655
Proceeds from life insurance benefits 24,047 8,764 601
Proceeds from mortgage portfolio loan sale 0 78,159 0
Other adjustments (12,920) (11,678) (9,278)
Net cash used in investing activities (446,441) (1,469,446) (1,552,025)
Net change in :      
Demand and savings deposits (513,496) 1,556,127 2,336,120
Certificates of deposit and other time deposits 232,874 (185,160) (814,466)
Borrowings 1,818,389 45,542 573,757
Repayment of borrowings (1,332,889) (96,204) (621,548)
Cash dividends on preferred stock (1,406) 0 0
Cash dividends on common stock (72,748) (61,230) (56,542)
Stock issued under employee benefit plans 706 605 639
Stock issued under dividend reinvestment and stock purchase plans 2,056 1,880 1,726
Stock options exercised 358 198 115
Repurchase of common stock 0 (25,444) (55,912)
Net cash provided by financing activities 133,844 1,236,314 1,363,889
Net Change in Cash and Cash Equivalents (44,552) (25,750) 15,695
Cash and Cash Equivalents, January 1 167,146 192,896 177,201
Cash and Cash Equivalents, December 31 122,594 167,146 192,896
Additional cash flow information:      
Interest paid 80,035 36,477 69,848
Income tax paid 13,819 31,168 33,201
Loans transferred to other real estate owned 6,469 292 813
Fixed assets transferred to other real estate owned 1,490 6,384 262
Non-cash investing activities using trade date accounting 46,106 39,923 6,183
ROU assets obtained in exchange for new operating lease liabilities 10,516 2,700 1,601
Fair value of assets acquired 2,510,576 4,041 0
Cash paid in acquisition (79,324) (3,225) 0
Liabilities assumed 2,168,863 816 0
Common Stock      
Additional cash flow information:      
Less: common stock and preferred stock issued 237,389 0 0
Preferred Stock      
Additional cash flow information:      
Less: common stock and preferred stock issued $ 25,000 $ 0 $ 0