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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 56,682 $ 51,263
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (2,000) 10,561
Depreciation of premises and equipment 2,549 2,318
Net amortization of premiums and discounts on securities and loans 2,742 4,101
Amortization of intangibles 674 688
Share-based compensation 2,705 2,696
Tax benefit (expense) from stock option exercises and other equity awards 135 (70)
Income from bank-owned life insurance [1] (1,781) (1,922)
Net gains on loan sales, including changes in fair value (24,093) (33,799)
Proceeds from sales of loans, net 706,253 586,677
Loans originated for sale (634,451) (599,789)
(Increase) decrease in operating lease right-of-use assets 2,003 (3,069)
Increase (decrease) in operating lease liabilities (1,907) 3,151
(Increase) decrease in other assets 34,107 (67,262)
Increase (decrease) in other liabilities (36,698) 62,634
Net cash provided by (used in) operating activities 106,920 18,178
Cash flows from investing activities:    
Purchases of mortgage-backed securities available for sale (297,810) (247,957)
Purchases of other debt securities available for sale (221,166) (129,000)
Maturities, calls and principal payments of mortgage-backed securities available for sale 274,169 228,268
Maturities, calls and principal payments of other debt securities available for sale 70,500 140,500
Net redemption (purchases) of Federal Home Loan Bank stock 15,191 13,384
Net (increase) decrease in loans (80,021) (332,850)
Purchases of loans (41,546) (51,081)
Proceeds from the sale of property acquired through foreclosure or repossession 0 1,107
Purchases of premises and equipment (2,166) (1,331)
Purchases of bank-owned life insurance (7,000) 0
Proceeds from surrender of bank-owned life insurance 0 787
Net cash provided by (used in) investing activities (289,849) (378,173)
Cash flows from financing activities:    
Net increase (decrease) in deposits 679,789 786,811
Proceeds from Federal Home Loan Bank advances 1,173,000 1,592,500
Repayment of Federal Home Loan Bank advances (1,544,267) (2,020,096)
Proceeds from Payment Protection Program Lending Facility 0 200,628
Repayment of Payment Protection Program Lending Facility 0 (94,882)
Treasury stock purchased 0 (4,322)
Net proceeds from stock option exercises and issuance of other equity awards, net of awards surrendered (165) (417)
Cash dividends paid (27,308) (26,667)
Net cash provided by (used in) financing activities 281,049 433,555
Net increase (decrease) in cash and cash equivalents 98,120 73,560
Cash and cash equivalents at beginning of period 202,268 138,455
Cash and cash equivalents at end of period 300,388 212,015
Noncash Activities:    
Loans charged off 630 1,072
Loans transferred to property acquired through foreclosure or repossession 0 28
Supplemental Disclosures:    
Interest payments 14,675 36,868
Income tax payments $ 15,551 $ 15,039
[1] As reported in the Consolidated Statements of Income.