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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 47,055 $ 52,850
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,690 4,034
Amortization of intangible assets 3,732 3,351
Net accretion on securities, loans and borrowings (4,547) (7,127)
Stock-based compensation 1,886 1,674
Provision for credit losses 906 (5,719)
Amortization of mortgage servicing rights 109 135
Unrealized gain on equity securities (2) (24)
Income from bank-owned life insurance policies (440) (480)
Net gain on sale of loans and other assets (450) (280)
Change in other assets and other liabilities (1) 13,396
Net cash provided by operating activities 51,938 61,810
Investing activities:    
Proceeds from maturities, calls and paydowns of available-for-sale investment securities 49,667 78,112
Proceeds from maturities and redemptions of equity and other investment securities 460 2,383
Purchases of available-for-sale investment securities (1,256,723) (546,733)
Purchases of equity and other securities (37) (10)
Net (increase) decrease in loans (49,556) 52,297
Cash paid for acquisitions, net of cash acquired of $0, and $0, respectively (2,464) 0
Purchases of premises and equipment, net (2,214) (876)
Real estate tax credit investments (247) (155)
Net cash used in investing activities (1,261,114) (414,982)
Financing activities:    
Net increase in deposits 406,499 979,263
Net decrease in borrowings (24,213) (26,940)
Payments on subordinated debt held by unconsolidated subsidiary trusts 0 (77,320)
Issuance of common stock 485 7,329
Purchases of treasury stock (3,592) (68)
Increase in deferred compensation arrangements 63 68
Cash dividends paid (23,235) (22,553)
Withholding taxes paid on share-based compensation (969) (1,065)
Net cash provided by financing activities 355,038 858,714
Change in cash and cash equivalents (854,138) 505,542
Cash and cash equivalents at beginning of period 1,875,064 1,645,805
Cash and cash equivalents at end of period 1,020,926 2,151,347
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,839 4,351
Cash paid for income taxes 3,344 2,701
Supplemental disclosures of noncash financing and investing activities:    
Dividends declared and unpaid 23,234 22,671
Transfers from loans to other real estate $ 203 $ 63