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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 56,564 $ 55,924 $ 151,526 $ 170,343  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     18,758 20,342  
Provision (benefit) for credit losses     11,983 (12,262)  
Net amortization of premium on securities     50,886 30,975  
Securities (gains) losses, net 1,055 (1,535) 272 (4,347)  
Unrealized (gain) loss on equity securities, net     615 (85)  
Stock based compensation     7,411 6,732  
Loans originated for sale     (244,908) (364,808)  
Proceeds on sales of loans held for sale     263,904 401,078  
Net gains on sale of loans held for sale     (6,926) (15,399)  
(Increase) decrease in accrued interest receivable     (5,348) 353  
Decrease in prepaid expenses     1,479 318  
Increase (decrease) in accrued interest payable     483 (271)  
Capitalization of servicing rights     (1,218) (1,055)  
Valuation adjustment on servicing rights 0 (195) (1,658) (586)  
(Gain) loss on sales/valuations of assets, net     (390) 1,970  
Net excess tax benefit from stock based compensation     129 304  
Other, net     66,142 (751)  
NET CASH PROVIDED BY OPERATING ACTIVITIES     313,140 232,851  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchase of time deposits in other financial institutions     0 (9)  
Proceeds from the sale of securities available for sale 57,610 169,108 1,031,521 799,588  
Proceeds from the sale of securities held to maturity     2,337 0  
Proceeds from the maturity of and principal paydowns on securities available for sale     758,453 722,512  
Proceeds from the maturity of and principal paydowns on securities held to maturity     2,500 4,634  
Proceeds from the maturity of time deposits in other financial institutions     1,154 0  
Proceeds from the sale, maturity of, redemption of and principal paydowns on other investments     13,674 2,843  
Purchase of securities available for sale     (1,982,073) (2,941,662)  
Purchase of other investments     (10,045) (10,922)  
Net (increase) decrease in loans     (1,002,220) 150,876  
Purchase of bank owned life insurance policies     (209) (196)  
Proceeds from bank owned life insurance policies     502 0  
Capital expenditures     (12,276) (15,705)  
Proceeds from the sale of equipment     6,789 7,332  
Net cash expended in divestitures     (50,616) (15,682)  
Proceeds on sale of OREO and other repossessed assets     2,564 5,032  
NET CASH USED BY INVESTING ACTIVITIES     (1,237,945) (1,291,359)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Net increase (decrease) in demand deposits     (396,552) 855,996  
Net increase in savings deposits     1,204,574 411,864  
Net increase (decrease) in time deposit accounts     105,695 (198,024)  
Net increase in short-term borrowings     14,003 97,748  
Proceeds from short term advances     236,000 51,700  
Repayments of short term advances     (236,000) (51,700)  
Proceeds from other borrowings     0 147,614  
Repayments of other borrowings     (198) (233,765)  
Proceeds from issuance of common stock     1,896 1,716  
Dividends paid     (40,352) (35,139)  
NET CASH PROVIDED BY FINANCING ACTIVITIES     889,066 1,048,010  
Net decrease in cash and cash equivalents     (35,739) (10,498)  
Cash and cash equivalents at beginning of year     435,599 337,903 $ 337,903
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 399,860 $ 327,405 399,860 327,405 $ 435,599
Supplemental disclosures:          
Cash paid for income/franchise taxes     33,412 42,425  
Cash paid for interest     36,456 21,632  
Loans transferred to OREO     8,458 2,713  
Transfer of premises from premises, furniture and equipment, net, to premises, furniture and equipment held for sale     4,555 1,564  
Transfer of premises from premises, furniture and equipment held for sale to premises, furniture and equipment, net     0 396  
Dividends declared, not paid     2,013 2,013  
Transfer of available for sale securities to held to maturity securities     $ 748,252 $ 0