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, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 74,930 $ 90,894
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 29,989 17,920
Depreciation of premises and equipment 6,288 6,696
Amortization, net 11,613 12,718
Amortization related to acquisitions, net 25,913 2,548
Losses on securities sales, net 6,513 13,398
BOLI income (7,037) (5,698)
Writedown of ROU assets, foreclosed properties, and equipment 0 1,342
Originations and purchases (90,967) (73,849)
Proceeds from sales 87,389 66,781
Net increase in other assets (11,299) (2,041)
Net increase in other liabilities 9,319 4,661
Net cash provided by operating activities 142,651 135,370
Investing activities:    
Purchases (504,305) (125,356)
Proceeds from sales 517,517 600,101
Proceeds from maturities, calls and paydowns 117,669 88,625
Purchases 0 (13,826)
Proceeds from maturities, calls and paydowns 24,854 10,092
Net change in other investments (10,379) (5,451)
Net increase in LHFI (579,753) (621,913)
Net purchases of premises and equipment (3,094) (3,226)
Proceeds from BOLI settlements 301 353
Proceeds from sales of foreclosed properties and former bank premises 0 4,810
Cash acquired in acquisition 54,988 0
Net cash used in investing activities (382,202) (65,791)
Financing activities:    
Non-interest-bearing deposits 412,655 (572,933)
Interest-bearing deposits 185,967 1,053,222
Short-term borrowings (229,084) (388,976)
Issuance 227 474
Dividends paid (58,687) (50,849)
Vesting of restricted stock, net of shares held for taxes (3,644) (2,198)
Net cash provided by financing activities 307,434 38,740
Increase in cash and cash equivalents 67,883 108,319
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 446,014 428,267
Cash payments for:    
Interest 242,863 135,422
Income taxes 3,278 853
Supplemental schedule of noncash investing and financing activities    
Transfer from LHFS to LHFI 0 645
Transfers from loans to foreclosed properties 201 0
Transfers from bank premises to foreclosed properties 8,553 0
Issuance of common stock in exchange for net assets in acquisitions 505,402 0
Assets acquired 2,948,016 0
Liabilities assumed $ 2,724,816 $ 0