v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 141,159 $ 132,495
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 10,600 15,000
Depreciation, amortization and accretion, net 15,854 17,770
Deferred income tax provision (benefit) 7,458 (3,593)
Stock-based compensation 7,921 7,561
Other (gains) losses (92) 6
Originations of loans held for sale (9,034) (6,818)
Proceeds from sales of loans held for sale 9,050 6,715
Net gains on investment securities   (37)
Premiums paid on cash flow hedges (3,784) (1,006)
Amortization of premiums on cash flow hedges 833 74
Change in assets and liabilities:    
Net decrease in other assets 10,211 15,081
Net decrease in other liabilities (17,274) (10,158)
Net cash provided by operating activities 172,902 173,090
Available-for-sale securities:    
Proceeds from maturities and principal repayments 142,510 144,154
Proceeds from calls and sales 24,800 36,835
Purchases (195,595) (74,812)
Held-to-maturity securities:    
Proceeds from maturities and principal repayments 138,475 144,482
Proceeds from calls 3,118 3,848
Other investments:    
Proceeds from sales 5,328 413
Purchases (26,829) (15,396)
Loans:    
Net (increase) decrease in loans and leases resulting from originations and principal repayments (222,670) 52,488
Purchases of loans (36,968) (3,995)
Proceeds from bank-owned life insurance 3,245 693
Purchases of bank-owned life insurance (40) (2,000)
Purchases of premises, equipment and software (9,758) (19,310)
Other (108) (8)
Net cash (used in) provided by investing activities (174,492) 267,392
Cash flows from financing activities    
Net decrease in deposits (361,487) (90,797)
Dividends paid (64,750) (66,488)
Stock tendered for payment of withholding taxes (4,629) (4,011)
Proceeds from employee stock purchase plan 122  
Common stock repurchased (32,000) (50,000)
Stock repurchase excise tax paid in current period (922) (341)
Net cash used in financing activities (463,666) (211,637)
Net (decrease) increase in cash and cash equivalents (465,256) 228,845
Cash and cash equivalents at beginning of period 1,477,752 1,170,190
Cash and cash equivalents at end of period 1,012,496 1,399,035
Supplemental disclosures    
Interest paid 127,088 153,752
Noncash investing and financing activities:    
Available-for-sale securities purchases accrued but unpaid   14,000
Operating lease right-of-use assets obtained in exchange for new lease obligations 307 1,390
Transfers to loans and leases from loans held for sale 1,336  
Obligation to fund low-income housing partnerships 13,376 41,121
Stock repurchase excise tax settled in subsequent period $ 241 $ 426