v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 79,417 $ 64,028
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 11,826 13,165
Provision for credit losses on loans and securities (4,651) 328
Provision charge (benefit) for credit losses on off-balance sheet credit exposures 2,535 310
Deferred tax expense 4,674 3,600
Amortization of operating lease right-of-use assets 3,671 3,544
Income on Bank-owned life insurance (4,034) (2,092)
Net amortization of premiums and discounts on securities 3,729 4,272
Accretion of net deferred loan fees (2,019) (1,522)
Amortization of premiums on purchased loans, net 78 62
Originations of loans held for sale (14,067) (15,683)
Proceeds from sales of loans originated for sale 18,405 10,640
Allocation of stock award expense 2,737 2,153
Allocation of stock option expense 0 17
Net gain on sale of loans (967) (368)
Net (gain) loss on securities transactions 0 (87)
Net gain on sale of premises and equipment (1,182) (624)
Increase in accrued interest receivable (1,928) (616)
(Increase) decrease in other assets (2,953) 43,106
Decrease in other liabilities (10,619) (35,718)
Net cash provided by operating activities 84,652 88,515
Cash flows from investing activities:    
Net (increase) in loans (139,811) (112,317)
Purchases of loans 0 (321)
Proceeds from maturities, calls and paydowns of held to maturity debt securities 15,180 14,113
Purchases of investment securities held to maturity (842) (700)
Proceeds from sales of available for sale debt securities 0 1,670
Proceeds from maturities, calls and paydowns of available for sale debt securities 101,343 150,843
Purchases of available for sale debt securities (190,450) (217,721)
Proceeds from redemption of Federal Home Loan Bank stock 101,676 76,930
Purchases of Federal Home Loan Bank stock (118,499) (91,086)
BOLI claim benefits received 0 906
Proceeds from sales of premises and equipment 2,709 2,348
Purchases of premises and equipment (3,694) (1,142)
Net cash (used in) investing activities (232,388) (176,477)
Cash flows from financing activities:    
Net decrease in deposits (178,381) (174,950)
Increase in mortgage escrow deposits 8,057 9,014
Cash dividends paid to stockholders (31,368) (31,874)
Purchase of treasury stock (10,255) 0
Purchase of employee restricted shares to fund statutory tax withholding (2,138) (1,847)
Stock options exercised 1,396 0
Proceeds from long-term borrowings 50,000 0
Payments on long-term borrowings (2,790) (254,600)
Net increase in short-term borrowings 323,814 570,356
Net cash provided by financing activities 158,335 116,099
Net increase in cash and cash equivalents 10,599 28,137
Cash and cash equivalents at beginning of period 209,057 205,869
Restricted cash at beginning of period 2,427 70
Total cash, cash equivalents and restricted cash at beginning of period 222,083 234,076
Cash and cash equivalents at end of period 222,083 234,076
Restricted cash at end of period 0 0
Total cash, cash equivalents and restricted cash at end of period 222,083 234,076
Cash paid during the period for:    
Interest on deposits and borrowings 106,824 125,711
Income taxes 2,508 1,029
Transfer of loans receivable to foreclosed assets $ 0 $ 0