v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 193,212 $ 163,945
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (recapture of) credit losses on loans 27,567 38,227
Depreciation and amortization 22,086 22,838
Stock-based compensation expense 12,485 12,402
Pension expense (income) 6,694 4,496
Net amortization (accretion) on investment securities (1,915) 3,088
Net (gain) loss on investment securities 9,748 22,719
Originations of loans held for sale (406,050) (308,217)
Net gains from sales of loans held for sale (17,844) (13,284)
Proceeds from sales of loans held for sale 415,608 318,030
Deferred income taxes 37,579 8,473
Operating Lease, Right-of-Use Asset, Amortization Expense 5,996 6,088
Payments for operating leases (6,338) (6,338)
Decrease (increase) cash surrender value of life insurance 4,070 3,145
Decrease (increase) in interest receivable (527) (354)
(Decrease) increase in interest payable (8,109) 895
Decrease (increase) in other assets 19,380 (24,389)
(Decrease) increase in other liabilities (89,792) (57,376)
Net cash provided by (used in) operating activities 215,710 188,098
Investing activities    
Proceeds from Sale of Debt Securities, Available-for-sale 353,863 347,403
Proceeds from calls, paydowns and maturities of securities available-for-sale 485,708 348,028
Payments to Acquire Debt Securities, Available-for-sale 979,030 742,189
Proceeds from calls, paydowns and maturities of securities held-to-maturity 5,557 2,532
Proceeds from Sale of Other Investments 19,359 11,559
Proceeds from Maturities, Prepayments and Calls of Other Investments 33,072 39,898
Payments to Acquire Other Investments 54,793 39,337
Net decrease (increase) in interest-bearing deposits with other banks 165,148 132,384
Net decrease (increase) in loans and leases 25,366 (548,706)
Proceeds from Sale of Other Real Estate 55 106
Purchases of premises and equipment (12,729) (14,076)
Net change in operating leases (5,548) (47,866)
Cash consideration 0 (96,887)
Payment to Acquire Life Insurance Policy, Investing Activities (72) 0
Proceeds from Life Insurance Policy 915 3,294
Net cash provided by (used in) investing activities 36,871 (603,857)
Financing activities    
Net (decrease) increase in total deposits 104,310 586,957
Net (decrease) increase in short-term borrowings (160,285) (126,161)
Payments of long-term debt 125,958 592
Cash dividends paid on common stock (70,247) (66,886)
Net cash provided by (used in) financing activities (252,180) 393,318
Cash and due from banks:    
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation 401 (22,441)
Cash and due from bank at beginning of period 174,258 213,059
Cash and due from bank at end of period 174,659 190,618
Supplemental Disclosures    
Interest Paid 276,631 292,018
Income Taxes Paid 3,975 25,932
Noncash or Part Noncash Acquisition, Investments Acquired 38,060 23,249
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