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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 5,798 $ 47,055
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,304 3,690
Amortization of intangible assets 3,667 3,732
Net amortization (accretion) on securities, loans and borrowings 508 (4,547)
Stock-based compensation 2,272 1,886
Gain on debt extinguishment (242) 0
Provision for credit losses 3,500 906
Amortization of mortgage servicing rights 233 109
Loss on sales of investment securities 52,329 0
Unrealized gain on equity securities 0 (2)
Income from bank-owned life insurance policies (587) (440)
Net gain on sale of assets (399) (450)
Change in other assets and liabilities 6,991 (1)
Net cash provided by operating activities 77,374 51,938
Investing activities:    
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities 20,543 49,667
Proceeds from maturities, calls, and paydowns of held-to-maturity investment securities 10 0
Proceeds from maturities and redemptions of equity and other investment securities 32,148 460
Proceeds from sales of available-for-sale investment securities 733,789 0
Purchases of available-for-sale investment securities 0 (1,256,723)
Purchases of held-to-maturity investment securities (3,310) 0
Purchases of equity and other securities (3,319) (37)
Net increase in loans (179,292) (49,556)
Cash paid for acquisitions, net of cash acquired of $0, and $0, respectively (2,061) (2,464)
Proceeds from sales of premises and equipment, net 1,634 368
Purchases of premises and equipment, net (4,070) (2,582)
Real estate limited partnership investments 0 (247)
Net cash provided by (used in) investing activities 596,072 (1,261,114)
Financing activities:    
Net increase in deposits 98,364 406,499
Net decrease in overnight borrowings (710,000) 0
Net decrease in securities sold under agreement to repurchase, short-term (42,045) (24,189)
Net decrease in other Federal Home Loan Bank borrowings (2,215) (24)
Redemption of subordinated notes payable (3,000) 0
Proceeds from the issuance of common stock 513 485
Purchases of treasury stock (10,966) (3,592)
Increase in deferred compensation arrangements 60 63
Cash dividends paid (23,708) (23,235)
Withholding taxes paid on share-based compensation (1,047) (969)
Net cash (used in) provided by financing activities (694,044) 355,038
Change in cash and cash equivalents (20,598) (854,138)
Cash and cash equivalents at beginning of period 209,896 1,875,064
Cash and cash equivalents at end of period 189,298 1,020,926
Supplemental disclosures of cash flow information:    
Cash paid for interest 14,815 2,839
Cash paid for income taxes 1,065 3,344
Supplemental disclosures of noncash financing and investing activities:    
Dividends declared and unpaid 23,778 23,234
Transfers from loans to other real estate 18 203
Transfers from premises and equipment, net to other assets 1,443 0
Acquisitions:    
Fair value of assets acquired, excluding acquired cash and intangibles 32 0
Fair value of liabilities assumed $ 9 $ 0