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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 $ 64,141 $ 77,840
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 4,579 4,494
Provision for credit losses 5,550 417
Amortization of loan servicing rights 431 583
Net change in loan servicing rights valuation allowance 0 (708)
Loans originated for sale, including participations (6,120) (27,273)
Net gain on sales of loans (224) (958)
Proceeds from sale of loans, including participations 6,075 34,299
Net (gain) loss on sales of premises and equipment 3 3
Net loss on sales and calls of securities available-for-sale 16 0
Net securities amortization 3,732 4,817
Stock based compensation expense 1,792 6,713
Losses (earnings) on life insurance (2,393) 212
Tax benefit of stock award issuances (720) (514)
Net change:    
Interest receivable and other assets (3,386) (2,782)
Interest payable and other liabilities 14,000 37,707
Total adjustments 23,335 57,010
Net cash from operating activities 87,476 134,850
Cash flows from investing activities:    
Proceeds from sale of securities available-for-sale 102,827 0
Proceeds from maturities, calls and principal paydowns of securities available-for-sale 56,830 86,001
Proceeds from maturities, calls and principal paydowns of securities held-to-maturity 6 5
Purchases of securities available-for-sale (4,314) (313,905)
Purchase of life insurance (222) (727)
Net (increase) decrease in total loans (166,904) (202,945)
Proceeds from sales of land, premises and equipment 13 4
Purchases of land, premises and equipment (5,010) (3,678)
Purchase of Federal Home Loan Bank stock (5,625) 0
Proceeds from redemption of Federal Home Loan Bank stock 0 932
Net cash from investing activities (22,399) (434,313)
Cash flows from financing activities:    
Net increase (decrease) in total deposits 196,455 (71,274)
Net increase (decrease) in short-term borrowings (22,000) 0
Payments on long-term FHLB borrowings 0 (75,000)
Net payments on short-term FHLB borrowings (185,000) 0
Common dividends paid (35,311) (30,624)
Preferred dividends paid (13) (13)
Payments related to equity incentive plans (3,124) (1,780)
Purchase of treasury stock (491) (505)
Sale of treasury stock 405 221
Net cash from financing activities (49,079) (178,975)
Net change in cash and cash equivalents 15,998 (478,438)
Cash and cash equivalents at beginning of the period 130,282 683,240
Cash and cash equivalents at end of the period 146,280 204,802
Cash paid during the period for:    
Interest 90,897 18,583
Income taxes 9,275 13,780
Supplemental non-cash disclosures:    
Loans transferred to other real estate owned 284 0
Right-of-use assets obtained in exchange for lease liabilities $ 0 $ 1,612