v3.25.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 59,255 $ 66,539
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 25,389 14,478
Depreciation and amortization of premises and equipment 6,193 5,721
Net amortization on securities 917 1,305
Amortization of intangible assets 5,153 4,301
Amortization of operating lease right-of-use assets 4,088 3,729
Excess tax benefit on stock-based compensation (419) (135)
Stock-based compensation expense 3,047 4,191
Bank owned life insurance income (5,577) (4,186)
Amortization of subordinated debt issuance costs 199 219
Proceeds from sale of loans held for sale 173,409 51,664
Originations of loans held for sale (167,816) (51,139)
Net gain on sale of loans held for sale (313) (72)
Net securities (gains) (8) (2,091)
Net gains on sale of other real estate owned (83) 0
Net change in other assets and other liabilities (14,952) (7,261)
Net cash provided by operating activities 88,482 87,263
Investing activities    
Net cash provided by (used in) acquisitions 38,597 (743)
Securities available for sale:    
Proceeds from maturities, calls and principal paydowns 90,172 54,196
Proceeds from sales 254,468 2,284
Purchases (202,260) (66,970)
Securities held to maturity:    
Proceeds from maturities, calls and principal paydowns 81,258 85,547
Purchases (45,167) (59,856)
Equity securities:    
Proceeds from sales 491 0
Purchases 0 (16)
Other:    
Net increase in loans (483) (212,351)
Proceeds from Federal Reserve and Federal Home Loan Bank stock redemption 30,216 51,481
Purchases of Federal Reserve and Federal Home Loan Bank stock (26,991) (43,934)
Proceeds from settlement of bank owned life insurance 4,330 608
Purchases of premises and equipment, net (6,031) (3,804)
Proceeds from sales of other real estate owned 135 0
Net cash provided by (used in) investing activities 218,735 (193,558)
Financing activities    
Net increase in deposits 104,422 302,465
Net decrease in short-term borrowings (92,972) (161,948)
Repayments of long-term debt (25,078) (75)
Cash paid by employer for tax-withholding on stock issuance (2,207) (1,382)
Purchase of treasury stock 0 (251)
Cash dividends (33,875) (30,183)
Net cash (used in) provided by financing activities (49,710) 108,626
Net increase in cash and cash equivalents 257,507 2,331
Cash and cash equivalents at beginning of period 284,056 205,189
Cash and cash equivalents at end of period 541,563 207,520
Cash paid during the period for:    
Interest expense 99,802 108,183
Income taxes paid, net of refund 16,325 9,213
Noncash investing activities:    
Loans transferred to other real estate owned 215 74
Acquisitions:    
Fair value of assets acquired, excluding acquired cash and goodwill 2,087,439 693
Fair value of liabilities assumed $ 1,997,253 $ 0