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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 75,998 $ 98,735
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,948 6,007
Provision/ (credit) for credit losses (16,481) 4,681
Share based compensation expense 3,972 4,650
Gain on disposal of assets 0 (16,699)
Deferred income tax expense 7,806 972
Originations of loans held for sale (194,320) (200,986)
Proceeds from sales of loans held for sale 186,995 221,492
Gains on sales of loans held for sale (2,445) (4,707)
Losses on sale of other real estate owned 0 24
Investment securities gains 0 (46)
Tax (benefit)/ deficiency associated with share based compensation 305 (592)
Net (increase)/ decrease in accrued interest receivable (1,216) 890
Net increase in other assets (10,424) (989)
Net decrease in accrued expenses and other liabilities (6,656) (9,425)
Other, net (191) (2,487)
Net cash provided by operating activities 54,291 101,520
Investing activities:    
Purchases of other investments (2,833) (11,098)
Purchases of investments available-for-sale 0 (356,033)
Proceeds from sales of investment available-for-sale 0 1,261
Proceeds from maturities, calls and principal payments of investments available-for-sale 76,412 138,473
Proceeds from maturities, calls and principal payments of investments held-to-maturity 12,337 15,961
Net (increase)/ decrease in loans 27,075 (814,098)
Proceeds from the sales of other real estate owned 35 271
Proceeds from sale of business activity, net 0 23,936
Expenditures for premises and equipment (7,334) (7,612)
Net cash provided by/ (used in) investing activities 105,692 (1,008,939)
Financing activities:    
Net increase in deposits 6,243 345,832
Net increase in retail repurchase agreements, federal funds purchased and Federal Reserve Bank borrowings 52,543 44,658
Proceeds from FHLB advances 2,030,000 346,625
Repayment of FHLB advances (1,980,000) (171,625)
Proceeds from issuance of subordinated debt 0 200,000
Proceeds from issuance of common stock 1,521 1,339
Stock tendered for payment of withholding taxes (1,821) (2,278)
Repurchase of common stock 0 (24,987)
Cash dividends paid (30,574) (30,886)
Net cash provided by financing activities 77,912 708,678
Net increase/ (decrease) in cash and cash equivalents 237,895 (198,741)
Cash and cash equivalents at beginning of period 192,232 420,020
Cash and cash equivalents at end of period 430,127 221,279
Supplemental disclosures:    
Interest payments 120,491 13,859
Income tax payments, net of refunds of $0 and $966 in 2023 and 2022, respectively $ 22,750 $ 25,059