Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 90,894 $ 105,916
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 6,696 7,119
Writedown of ROU assets, foreclosed properties, and equipment 1,342 4,570
Amortization, net 12,718 16,093
Amortization related to acquisitions, net 2,548 1,014
Provision for credit losses 17,920 6,359
Losses on securities transactions 13,398 2
Gain on sale of DHFB 0 (9,082)
BOLI income (5,698) (5,413)
Originations and purchases of LHFS (73,849) (191,470)
Proceeds from sales of LHFS 66,781 196,381
Gains on sales of foreclosed properties and former bank premises, net (595) (631)
Stock-based compensation expenses 5,619 5,336
Issuance of common stock for services 374 409
Net (increase) decrease in other assets (2,041) 25,875
Net (decrease) increase in other liabilities (6,188) 36,751
Net cash provided by operating activities 129,919 199,229
Investing activities:    
Purchases of AFS securities, restricted stock, and other investments (125,356) (88,244)
Purchases of HTM securities (13,826) (158,445)
Proceeds from sales of AFS securities and restricted stock 600,101 12,469
Proceeds from maturities, calls and paydowns of AFS securities 88,625 207,279
Proceeds from maturities, calls and paydowns of HTM securities 10,092 3,400
Net increase in LHFI (621,913) (452,948)
Net increase in premises and equipment (3,226) (1,931)
Proceeds from BOLI settlements 353 2,068
Proceeds from sales of foreclosed properties and former bank premises 4,810 3,001
Net cash used in investing activities (60,340) (473,351)
Financing activities:    
Net (decrease) increase in noninterest-bearing deposits (572,933) 154,214
Net increase (decrease) in interest-bearing deposits 1,053,222 (636,667)
Net (decrease) increase in short-term borrowings (388,976) 290,788
Cash dividends paid - common stock (44,915) (42,075)
Cash dividends paid - preferred stock (5,934) (5,934)
Repurchase of common stock 0 (48,231)
Issuance of common stock 474 3,813
Vesting of restricted stock, net of shares held for taxes (2,198) (2,911)
Net cash provided by (used in) financing activities 38,740 (287,003)
Increase (decrease) in cash and cash equivalents 108,319 (561,125)
Cash, cash equivalents, and restricted cash at beginning of the period 319,948 802,501
Cash, cash equivalents, and restricted cash at end of the period 428,267 241,376
Cash payments for:    
Interest 135,422 16,511
Income taxes 853 935
Supplemental schedule of noncash investing and financing activities    
Transfer from LHFS to LHFI 645 0
Transfers from loans to foreclosed properties $ 0 $ 382