v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 197,034,000 $ 194,311,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense 7,727,000 21,749,000
Specific reserve, other real estate owned 20,000 16,000
Depreciation of bank premises and equipment 11,099,000 11,344,000
Gain on sale of bank premises and equipment (13,000) (344,000)
Loss (gain) on sale of other real estate owned 479,000 (281,000)
Accretion of investment securities discounts (2,181,000) (957,000)
Amortization of investment securities premiums 2,276,000 2,778,000
Unrealized (gain) loss on equity securities with readily determinable fair values (89,000) 80,000
Stock based compensation expense 66,000 122,000
Loss (earnings) from affiliates and other investments 1,272,000 (1,781,000)
Deferred tax expense 2,191,000 8,664,000
Increase in accrued interest receivable (2,667,000) (6,424,000)
Decrease (increase) in other assets 21,627,000 (3,546,000)
(Decrease) increase in other liabilities (2,882,000) 16,858,000
Net cash provided by operating activities 235,959,000 242,589,000
Investing activities:    
Proceeds from maturities of securities 1,200,000 2,075,000
Proceeds from sales and calls of available for sale securities 4,235,000 1,720,000
Purchases of available for sale securities (376,800,000) (429,932,000)
Principal collected on mortgage backed securities 445,909,000 343,558,000
Net increase in loans (339,775,000) (242,275,000)
Purchases of other investments (30,450,000) (25,062,000)
Distributions from other investments 478,000 6,393,000
Purchases of bank premises and equipment (11,242,000) (8,882,000)
Proceeds from sales of bank premises and equipment 13,000 574,000
Proceeds from sales of other real estate owned 3,498,000 1,088,000
Net cash used in investing activities (302,934,000) (350,743,000)
Financing activities:    
Net increase (decrease) in non-interest bearing demand deposits 107,628,000 (178,453,000)
Net increase in savings and interest bearing demand deposits 139,142,000 165,783,000
Net increase in time deposits 116,046,000 219,736,000
Net increase in securities sold under repurchase agreements 80,832,000 81,172,000
Net increase (decrease) in other borrowed funds 49,896,000 (101,000)
Purchase of treasury stock (4,546,000) (495,000)
Proceeds from stock transactions 793,000 2,651,000
Payments of cash dividends (43,550,000) (41,031,000)
Net cash provided by financing activities 446,241,000 249,262,000
Increase in cash and cash equivalents 379,266,000 141,108,000
Cash and cash equivalents at beginning of period 352,652,000 651,058,000
Cash and cash equivalents at end of period 731,918,000 792,166,000
Supplemental cash flow information:    
Interest paid 109,258,000 96,325,000
Income taxes paid 42,976,000 30,176,000
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned $ 1,700,000 $ 3,200,000