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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flow From Operating Activities:    
Net income $ 47,941 $ 64,079
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 2,000 0
Depreciation and amortization 3,194 2,964
Change in deferred taxes (2,260) (3,395)
Share-based compensation 1,402 1,197
Loans originated for sale (182,793) (74,212)
Proceeds from sales of loans held for sale 188,347 74,746
Gains on sales of loans held for sale (1,738) (848)
Net losses on sales and redemptions of securities available for sale 2 1,571
Increase in cash surrender value of life insurance (1,449) (1,287)
Gains on life insurance benefits (143) (1)
Change in interest receivable 5,114 (445)
Change in interest payable 350 4,449
Other adjustments (1,119) 18,791
Net cash provided by operating activities 58,848 87,609
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits 25,583 (226,634)
Purchases of:    
Securities available for sale (32,231) (1,400)
Proceeds from sales of securities available for sale 0 213,232
Proceeds from maturities and redemptions of:    
Securities available for sale 9,415 17,814
Securities held to maturity 20,006 22,987
Change in Federal Home Loan Bank stock 11 (3,353)
Payment of capital calls to qualified affordable housing investments (7,975) (4,171)
Net change in loans 56,511 (238,872)
Proceeds from the sale of other real estate owned 78 46
Proceeds from life insurance benefits 1,865 509
Proceeds from commercial portfolio loan sale 3,273 0
Other adjustments 6,344 (7,284)
Net cash provided (used) in investing activities 82,880 (227,126)
Net change in :    
Demand and savings deposits (30,726) (184,063)
Certificates of deposit and other time deposits 93,857 504,605
Borrowings 60 486,714
Repayment of borrowings (167,182) (646,683)
Cash dividends on preferred stock (469) (469)
Cash dividends on common stock (20,157) (19,086)
Stock issued under employee benefit plans 186 199
Stock issued under dividend reinvestment and stock purchase plans 542 514
Stock options exercised 0 1,010
Repurchase of common stock (29,974) 0
Net cash provided (used) by financing activities (153,863) 142,741
Net Change in Cash and Cash Equivalents (12,135) 3,224
Cash and Cash Equivalents, January 1 112,649 122,594
Cash and Cash Equivalents, March 31 100,514 125,818
Additional cash flow information:    
Interest paid 108,487 57,830
Income tax paid (refunded) (1) (1,118)
Loans transferred to other real estate owned 127 1,080
Non-cash investing activities using trade date accounting 41,719 0
ROU assets obtained in exchange for new operating lease liabilities 3,343 646
Qualified affordable housing investments obtained in exchange for funding commitments $ 0 $ 4,700