XML 24 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net income $ 38,871 $ 45,589
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 11,531 12,012
Provision for credit losses 10,206 24,216
Net amortization of investment securities and assets 4,676 2,245
Net amortization on borrowings 38 38
Stock-based compensation expense 4,413 4,861
Loss on sale of foreclosed assets and other real estate owned 5 8
Gain on sale of mortgage loans held for sale (1,746) (1,423)
Deferred income taxes 379 (179)
Income from bank owned life insurance (4,165) (3,334)
Originations of mortgage loans held for sale (60,656) (50,269)
Proceeds from sale of mortgage loans held for sale 59,876 50,934
Changes in assets and liabilities:    
Interest receivable (351) 4,117
Other assets (17,362) 22,581
Accrued interest and other liabilities 17,390 (2,621)
Income taxes payable (5,511) (10,028)
Net cash provided by operating activities 57,594 98,747
INVESTING ACTIVITIES    
Net change in loans (163,909) (412,077)
Proceeds from sale of loans 211 237
Purchases of premises and equipment, net (9,848) (10,490)
Proceeds from sale of foreclosed assets and other real estate owned 1,218 289
Proceeds from maturities of available-for-sale securities 114,212 155,361
Purchases of available-for-sale securities 0 (745)
Proceeds from maturities of held-to-maturity securities 17,037 16,979
Purchases of held-to-maturity securities 0 (31,704)
Proceeds from bank owned life insurance death benefits 1,376 1,483
Net cash used in investing activities (39,703) (280,667)
FINANCING ACTIVITIES    
Net change in deposits 108,026 (95,950)
Dividends paid on common stock (26,337) (25,455)
Net change in other borrowed funds (100,492) 164,530
Net change in federal funds purchased and securities sold under agreements to repurchase (9,209) (17,541)
Net shares cancelled under stock compensation plans (1,638) (2,168)
Shares issued under employee stock purchase plan 970 833
Net cash (used in) provided by financing activities (28,680) 24,249
DECREASE IN CASH AND CASH EQUIVALENTS (10,789) (157,671)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 614,092 682,122
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 603,303 $ 524,451