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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 132,319 $ 189,703
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,926 10,777
Provision/ (credit) for credit losses 23,571 (47,141)
Share based compensation expense 6,211 3,640
Gain/ (loss) on disposal of assets (16,516) 0
Deferred income tax/ (benefit) (6,493) 12,280
Origination of loans held for sale (296,464) (1,211,421)
Proceeds from sales of loans held for sale 330,643 1,272,148
Gains on sales of loans held for sale (6,239) (27,111)
Losses on sale of other real estate owned 24 237
Investment securities gains (48) (178)
Tax benefit associated with share based compensation (632) 1,316
Net (increase)/ decrease in accrued interest receivable (2,725) 10,212
Net increase in other assets (1,221) (39,456)
Net increase/ (decrease) accrued expenses and other liabilities 2,377 (22,402)
Other, net (3,301) 1,026
Net cash provided by operating activities 170,432 153,630
Investing activities:    
Sales/ (purchases) of other investments (36,131)  
Sales/ (purchases) of other investments   24,663
Purchases of investments available-for-sale (447,070) (708,727)
Proceeds from sales of investment available-for-sale 1,261 360,945
Proceeds from maturities, calls and principal payments of investments available-for-sale 196,121 264,461
Proceeds from maturities, calls and principal payments of investments held-to-maturity 25,149 0
Net (increase)/ decrease in loans (1,244,402) 696,399
Proceeds from the sales of other real estate owned 271 620
Proceeds from sale of business activity, net 23,821 0
Expenditures for premises and equipment (10,566) (7,114)
Net cash provided by/ (used in) investing activities (1,491,546) 631,247
Financing activities:    
Net increase in deposits 126,348 957,888
Net increase/ (decrease) in in retail repurchase agreements and federal funds purchased 65,201 (395,653)
Proceeds from FHLB advances 1,716,625 0
Repayment of FHLB advances (876,625) (379,075)
Proceeds from issuance of subordinated debt 200,000 0
Retirement of subordinated debt 0 53,000
Proceeds from issuance of common stock 1,783 4,164
Stock tendered for payment of withholding taxes (2,315) (1,577)
Repurchase of common stock (24,987) (54,321)
Cash dividends paid (46,128) (45,673)
Net cash provided by financing activities 1,159,902 32,753
Net increase/ (decrease) in cash and cash equivalents (161,212) 817,630
Cash and cash equivalents at beginning of period 420,020 297,003
Cash and cash equivalents at end of period 258,808 1,114,633
Supplemental disclosures:    
Interest payments 27,631 31,173
Income tax payments, net of refunds of $966 and $2,673 in 2022 and 2021, respectively 42,414 58,348
Transfers from loans to other real estate owned $ 0 $ 295