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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 86,860 $ 100,794
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 7,373 8,014
Amortization of intangible assets 7,583 6,597
Net accretion on securities, loans and borrowings (9,662) (11,729)
Stock-based compensation 4,190 3,242
Provision for credit losses 6,944 (10,057)
Amortization of mortgage servicing rights 299 269
Unrealized loss (gain) on equity securities 20 (24)
Income from bank-owned life insurance policies (944) (981)
Net gain on sale of loans and other assets (305) (463)
Change in other assets and other liabilities (3,443) (7,585)
Net cash provided by operating activities 98,915 88,077
Investing activities:    
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities 86,423 151,994
Proceeds from maturities and redemptions of equity and other investment securities 464 2,648
Purchases of available-for-sale investment securities (1,348,400) (759,022)
Purchases of equity and other securities (313) (92)
Net (increase) decrease in loans (335,796) 179,167
Cash received (paid) for acquisitions, net of cash acquired of $84,988 and $0, respectively 345 (2,900)
Purchases of premises and equipment, net (4,979) (5,689)
Real estate tax credit investments (247) (320)
Net cash used in investing activities (1,602,503) (434,214)
Financing activities:    
Net (decrease) increase in deposits (75,691) 1,114,051
Net increase in overnight Federal Reserve Bank borrowings 66,000 0
Net decrease in securities sold under agreement to repurchase, short-term (100,965) (89,121)
Payments on other Federal Home Loan Bank borrowings (33) (3,722)
Payments on subordinated debt held by unconsolidated subsidiary trusts 0 (77,320)
Issuance of common stock 799 8,669
Purchases of treasury stock (16,498) (128)
Increase in deferred compensation arrangements 120 128
Cash dividends paid (46,453) (45,162)
Withholding taxes paid on share-based compensation (1,127) (1,137)
Net cash (used in) provided by financing activities (173,848) 906,258
Change in cash and cash equivalents (1,677,436) 560,121
Cash and cash equivalents at beginning of period 1,875,064 1,645,805
Cash and cash equivalents at end of period 197,628 2,205,926
Supplemental disclosures of cash flow information:    
Cash paid for interest 5,967 7,644
Cash paid for income taxes 25,247 22,482
Supplemental disclosures of noncash financing and investing activities:    
Dividends declared and unpaid 23,264 22,768
Transfers from loans to other real estate 303 120
Acquisitions:    
Fair value of assets acquired, excluding acquired cash and intangibles 483,438 199
Fair value of liabilities assumed $ 544,950 $ 174