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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income $ 96,007 $ 75,028  
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 8,100 8,643  
Deferred tax (benefit)/ provision (7,293) 3,118  
Depreciation and amortization 2,054 2,112  
Amortization of right-of-use asset 2,405 2,443  
Change in operating lease liabilities 81 (1,744)  
Net gains on sale and transfer of other real estate owned 0 (6)  
Loss on sales or disposal of fixed assets 6 25  
Amortization on alternative energy partnerships, venture capital and other investments 15,594 8,287  
Net gain on sale of equity securities (15) (100)  
Amortization/accretion of security premiums/discounts, net (1,324) 1,494  
Unrealized gain on equity securities (4,853) (5,874)  
Write-off of AFS debt securities 3,000 0  
Stock-based compensation and stock issued to officers as compensation 1,511 1,614  
Net change in accrued interest receivable and other assets 15,623 (13,309)  
Net change in other liabilities (9,730) 4,726  
Net cash provided by operating activities 121,166 86,457  
Cash Flows from Investing Activities      
Purchase of investment securities available-for-sale (156,597) (204,882)  
Proceeds from repayments, maturities and calls of investment securities available-for-sale 104,669 45,393  
Proceeds from sale of equity securities 0 553  
Purchase of Federal Home Loan Bank stock (680) 0  
Redemption of Federal Home Loan Bank stock 680 0  
Net increase in loans (68,133) (413,721)  
Purchase of premises and equipment (295) (1,276)  
Proceeds from sales of other real estate owned 0 307  
Net (increase)/decrease in investment in affordable housing and alternative energy partnerships (8,078) 902  
Acquisition, net of cash acquired 0 (73,882)  
Net cash used for investing activities (128,434) (646,606)  
Cash Flows from Financing Activities      
Increase/(decrease) in deposits 143,633 (573,720)  
Advances from Federal Home Loan Bank (125,000) 0  
Cash dividends paid (24,605) (25,515)  
Purchases of treasury stock (16,736) (32,896)  
Proceeds from shares issued under Dividend Reinvestment Plan 918 945  
Taxes paid related to net share settlement of RSUs (14) (285)  
Net cash used by financing activities (21,804) (631,471)  
Decrease in cash, cash equivalents, and restricted cash (29,072) (1,191,620)  
Cash, cash equivalents, and restricted cash, beginning of the period 1,162,402 2,449,704 $ 2,449,704
Cash, cash equivalents, and restricted cash, end of the period 1,133,330 1,258,084 $ 1,162,402
Supplemental disclosure of cash flow information      
Interest 86,785 12,896  
Income taxes paid 0 1,281  
Non-cash investing and financing activities:      
Net change in unrealized holding gain/(loss) on securities available-for-sale, net of tax 11,659 (45,966)  
Net unrealized gain (1) $ (441) $ 3,054