v3.25.2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flow from Operating Activities:    
Net income $ 112,171 $ 87,866
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 9,800 26,500
Depreciation and amortization 15,711 6,680
Change in deferred taxes (2,178) 1,356
Share-based compensation 3,162 2,754
Loans originated for sale (237,250) (451,682)
Proceeds from sales of loans held for sale 235,456 443,068
Gains on sales of loans held for sale (8,326) (4,744)
Net losses on sales and redemptions of securities available for sale 8 51
Increase in cash surrender value of life insurance (3,150) (2,863)
Gains on life insurance benefits (942) (658)
Change in interest receivable (1,429) 118
Change in interest payable 72 (358)
Other adjustments (7,730) 13,787
Net cash provided by operating activities 115,375 121,875
Cash Flows from Investing Activities:    
Net change in interest-bearing deposits 75,548 267,552
Purchases of:    
Securities available for sale (5,906) (62,328)
Proceeds from maturities and redemptions of:    
Securities available for sale 30,084 21,396
Securities held to maturity 49,687 48,254
Purchases of Federal Home Loan Bank stock (5,643) 0
Redemptions of Federal Home Loan Bank stock 43 31
Payment of capital calls to qualified affordable housing investments (23,596) (15,933)
Net change in loans (457,029) (171,915)
Proceeds from the sale of other real estate owned 5,724 274
Proceeds from life insurance benefits 3,303 3,443
Other adjustments (1,951) (28,469)
Net cash provided (used) by investing activities (329,736) 67,294
Net change in:    
Demand and savings deposits 280,535 (385,455)
Certificates of deposit and other time deposits (4,583) 133,072
Borrowings 682,194 427,348
Repayment of borrowings (679,302) (282,152)
Cash dividends on preferred stock (938) (938)
Cash dividends on common stock (41,288) (40,622)
Stock issued under employee benefit plans 317 343
Stock issued under dividend reinvestment and stock purchase plans 1,140 1,101
Stock options exercised 237 812
Repurchase of common stock (30,000) (49,955)
Net cash provided (used) by financing activities 208,312 (196,446)
Net Change in Cash and Cash Equivalents (6,049) (7,277)
Cash and Cash Equivalents, January 1 87,616 112,649
Cash and Cash Equivalents, June 30 81,567 105,372
Additional cash flow information:    
Interest paid 188,897 217,005
Income tax paid 13,062 5,300
Loans transferred to other real estate owned 643 211
Non-cash investing activities using trade date accounting 6,745 28,805
ROU assets obtained in exchange for new operating lease liabilities 388 5,588
Qualified affordable housing investments obtained in exchange for funding commitments 20,000 40,000
Mortgage Loan    
Proceeds from maturities and redemptions of:    
Proceeds from portfolio loan sale 0 1,716
Commercial Loan    
Proceeds from maturities and redemptions of:    
Proceeds from portfolio loan sale $ 0 $ 3,273