Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 151,346 $ 144,911
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 32,592 22,911
Depreciation of premises and equipment 9,541 9,897
Amortization, net 17,064 18,215
Amortization related to acquisitions, net (14,325) 3,530
Losses on securities sales, net 6,510 40,992
Gain on sale-leaseback transaction 0 (27,700)
BOLI income (12,074) (8,671)
Writedown of ROU assets, foreclosed properties, and equipment 216 1,929
Originations and purchases (157,156) (109,934)
Proceeds from sales 155,392 107,264
Net decrease (increase) in other assets 38,888 (74,154)
Net (decrease) increase in other liabilities (17,831) 95,563
Net cash provided by operating activities 210,163 224,753
Investing activities:    
Purchases (619,879) (425,431)
Proceeds from sales 620,405 856,881
Proceeds from maturities, calls and paydowns 170,542 133,947
Purchases (2,615) (13,826)
Proceeds from maturities, calls and paydowns 29,702 15,453
Net change in other investments (14,919) (9,177)
Net increase in LHFI (523,841) (839,536)
Net purchases of premises and equipment (6,543) (3,835)
Proceeds from BOLI settlements 5,645 353
Proceeds from sale-leaseback transaction 0 45,805
Proceeds from sales of foreclosed properties and former bank premises 3,021 5,846
Cash acquired in acquisition 54,988 0
Net cash used in investing activities (283,494) (233,520)
Financing activities:    
Non-interest-bearing deposits 308,316 (738,290)
Interest-bearing deposits 593,803 1,593,090
Short-term borrowings (584,942) (688,901)
Issuance 227 563
Dividends paid (90,383) (76,315)
Vesting of restricted stock, net of shares held for taxes (3,751) (2,383)
Net cash provided by financing activities 223,270 87,764
Increase in cash and cash equivalents 149,939 78,997
Cash, cash equivalents and restricted cash at beginning of the period 378,131 319,948
Cash, cash equivalents and restricted cash at end of the period 528,070 398,945
Cash payments for:    
Interest 381,133 224,809
Income taxes 3,552 15,501
Supplemental schedule of noncash investing and financing activities    
Transfers from loans to foreclosed properties 375 0
Transfers from bank premises to foreclosed properties 8,573 0
Issuance of common stock in exchange for net assets in acquisitions 505,402 0
Assets acquired 2,948,035 0
Liabilities assumed $ 2,730,061 $ 0