v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 121,289 $ 111,494
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (recapture of) credit losses on loans 18,502 27,603
Depreciation and amortization 14,684 15,173
Stock-based compensation expense 8,464 8,944
Pension expense (income) 4,550 2,950
Net amortization (accretion) on investment securities (989) 2,374
Net (gain) loss on investment securities 9,706 5,251
Originations of loans held for sale (257,106) (192,360)
Net gains from sales of loans held for sale (11,009) (8,263)
Proceeds from sales of loans held for sale 254,791 192,925
Deferred income taxes 26,299 12,824
Operating Lease, Right-of-Use Asset, Amortization Expense 4,008 4,078
Payments for operating leases (4,217) (4,243)
Decrease (increase) cash surrender value of life insurance 2,667 1,903
Decrease (increase) in interest receivable (444) (2,420)
(Decrease) increase in interest payable (7,007) 1,240
Decrease (increase) in other assets 39,014 (107,733)
(Decrease) increase in other liabilities (91,965) 32,053
Net cash provided by (used in) operating activities 125,903 99,987
Investing activities    
Proceeds from Sale of Debt Securities, Available-for-sale 164,537 211,959
Proceeds from calls, paydowns and maturities of securities available-for-sale 273,154 219,808
Payments to Acquire Debt Securities, Available-for-sale 548,283 469,203
Proceeds from calls, paydowns and maturities of securities held-to-maturity 4,093 1,533
Proceeds from Sale of Other Investments 0 11,559
Proceeds from Maturities, Prepayments and Calls of Other Investments 29,628 24,831
Payments to Acquire Other Investments 37,147 36,590
Net decrease (increase) in interest-bearing deposits with other banks 160,055 54,405
Net decrease (increase) in loans and leases (41,061) (509,553)
Purchases of premises and equipment (8,697) (10,408)
Net change in operating leases (7,981) (14,258)
Cash consideration 0 (96,887)
Payment to Acquire Life Insurance Policy, Investing Activities (72) 0
Proceeds from Life Insurance Policy 915 1,122
Net cash provided by (used in) investing activities (10,859) (611,576)
Financing activities    
Net (decrease) increase in total deposits 40,855 301,125
Net (decrease) increase in short-term borrowings (70,753) 241,358
Payments of long-term debt 2,655 5,935
Cash dividends paid on common stock (46,562) (44,224)
Net cash provided by (used in) financing activities (79,115) 492,324
Cash and due from banks:    
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation 35,929 (19,265)
Cash and due from bank at beginning of period 174,258 213,059
Cash and due from bank at end of period 210,187 193,794
Supplemental Disclosures    
Interest Paid 185,761 190,114
Income Taxes Paid 1,665 21,248
Noncash or Part Noncash Acquisition, Investments Acquired 62,224 0
Supplemental schedule for investing activities    
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration 0 914
Business Combination, Recognized Liability Assumed, Liability 0 2,702
Goodwill $ 0 $ 1,788