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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 76,901 $ 80,142
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 4,986 (8,012)
Depreciation and amortization of premises and equipment 5,003 4,921
Net amortization on securities 1,927 3,049
Amortization of intangible assets 1,181 1,494
Amortization of operating lease right-of-use assets 3,341 3,613
Excess tax benefit on stock-based compensation (176) (322)
Stock-based compensation expense 3,279 3,256
Bank owned life insurance income (3,065) (3,040)
Amortization of subordinated debt issuance costs 218 219
Proceeds from sale of loans held for sale 2,728 28,667
Originations of loans held for sale (2,139) (28,792)
Net gains on sale of loans held for sale (78) (160)
Net security losses (gains) 766 (668)
Net gains on sale of other real estate owned (259) (19)
Net change in other assets and other liabilities 8,127 11,339
Net cash provided by operating activities 102,740 95,687
Investing activities    
Net cash used in acquisitions (477) 0
Securities available for sale:    
Proceeds from maturities, calls and principal paydowns 133,012 216,468
Purchases (201,985) (418,915)
Securities held to maturity:    
Proceeds from maturities, calls and principal paydowns 109,956 110,328
Purchases (313,825) (116,360)
Equity securities:    
Proceeds from calls 0 1,000
Other:    
Net increase in loans (282,417) (22,270)
Proceeds from Federal Home Loan Bank stock redemption 572 2,352
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (367) (131)
Proceeds from settlement of bank owned life insurance 913 2,967
Purchases of bank owned life insurance 0 (40,000)
Purchases of premises and equipment, net (2,267) (3,138)
Proceeds from sales of other real estate owned 426 719
Net cash used in investing activities (556,459) (266,980)
Financing activities    
Net (decrease) increase in deposits (205,761) 703,565
Net decrease in short-term borrowings (35,250) (77,788)
Repayments of long-term debt (10,648) (25,052)
Proceeds from the issuance of shares to employee and other stock plans 0 112
Cash paid by employer for tax-withholdings on stock issuance (1,289) (1,935)
Purchase of treasury stock (14,713) (9,871)
Cash dividends (24,075) (23,476)
Net cash (used in) provided by financing activities (291,736) 565,555
Net (decrease) increase in cash and cash equivalents (745,455) 394,262
Cash and cash equivalents at beginning of period 1,269,071 672,681
Cash and cash equivalents at end of period 523,616 1,066,943
Cash paid during the period for:    
Interest expense 8,452 11,350
Income taxes paid, net of refund 24,203 28,004
Noncash investing activities:    
Loans transferred to other real estate owned 0 40
Acquisitions:    
Fair value of assets acquired $ 429 $ 0