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, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 105,916 $ 141,573
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of premises and equipment 7,119 7,966
Writedown of ROU assets and equipment 4,570 1,065
Amortization, net 16,093 15,928
Amortization (accretion) related to acquisitions, net 1,014 (1,056)
Provision for credit losses 6,359 (41,037)
Losses (gains) on securities transactions, net 2 (78)
Gain on sale of DHFB (9,082) 0
BOLI income (5,413) (5,475)
Originations and purchases of loans held for sale (191,470) (348,138)
Proceeds from sales of loans held for sale 196,381 409,809
Gains on sales of foreclosed properties and former bank premises, net (631) (1,810)
Losses on debt extinguishment 0 14,695
Stock-based compensation expenses 5,336 4,853
Issuance of common stock for services 409 188
Net decrease in other assets 25,875 64,826
Net increase (decrease) in other liabilities 36,751 (125,899)
Net cash provided by operating activities 199,229 137,410
Investing activities:    
Purchases of AFS securities, restricted stock, and other investments (88,244) (651,254)
Purchases of HTM securities (158,445) 0
Proceeds from sales of AFS securities and restricted stock 12,469 45,436
Proceeds from maturities, calls and paydowns of AFS securities 207,279 256,903
Proceeds from maturities, calls and paydowns of HTM securities 3,400 1,730
Net (increase) decrease in loans held for investment (452,948) 305,615
Net increase in premises and equipment (1,931) (6,836)
Proceeds from BOLI settlements 2,068 3,152
Purchases of BOLI policies 0 (100,000)
Proceeds from sales of foreclosed properties and former bank premises 3,001 8,632
Net cash used in investing activities (473,351) (136,622)
Financing activities:    
Net increase in noninterest-bearing deposits 154,214 853,869
Net (decrease) increase in interest-bearing deposits (636,667) 82,617
Net increase (decrease) in short-term borrowings 290,788 (261,139)
Repayments of long-term debt 0 (214,695)
Cash dividends paid - common stock (42,075) (41,825)
Cash dividends paid - preferred stock (5,934) (5,934)
Repurchase of common stock (48,231) (42,363)
Issuance of common stock 3,813 2,876
Vesting of restricted stock, net of shares held for taxes (2,911) (2,318)
Net cash (used in) provided by financing activities (287,003) 371,088
(Decrease) increase in cash and cash equivalents (561,125) 371,876
Cash, cash equivalents, and restricted cash at beginning of the period 802,501 493,294
Cash, cash equivalents, and restricted cash at end of the period 241,376 865,170
Cash payments for:    
Interest 16,511 23,859
Income taxes 935 1,221
Supplemental schedule of noncash investing and financing activities    
Transfers from loans to foreclosed properties 382 14
Transfers from bank premises to OREO $ 0 $ 1,109