v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 143,437 $ 128,004
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 7,116 6,462
Provision for credit losses 6,474 6,660
Securities premium amortization, net 16,812 19,416
Loss (gain) on sale of foreclosed and other assets 449 (171)
Stock-based compensation 3,899 3,458
Deferred federal income tax benefit 569 11,685
Net tax benefit from stock-based compensation 316 200
Change in loans held-for-sale 6,376 (24,200)
Change in other assets (684) (29,787)
Change in other liabilities 610 16,374
Total adjustments 41,937 10,097
Net cash provided by operating activities 185,374 138,101
Activity in available-for-sale securities:    
Proceeds from maturities, calls, and paydowns 9,895,695 5,397,243
Purchases (10,086,704) (5,596,052)
Net increase in loans held-for-investment (191,024) (163,111)
Purchases of bank premises, equipment and software (12,680) (4,687)
Proceeds from sale of bank premises, equipment, and other assets 130 1,103
Net cash used in investing activities (394,583) (365,504)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in noninterest-bearing deposits 77,698 91,018
Net (decrease) increase in interest-bearing deposits (303,244) 258,224
Net proceeds (repayment) in repurchase agreements and other borrowings (9,151) (126,840)
Common stock transactions:    
Proceeds from stock option exercises/stock unit conversions/restricted stock activity 773 1,479
Dividends paid (54,473) (51,529)
Net cash (used in) provided by financing activities (288,397) 172,352
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (497,606) (55,051)
CASH AND CASH EQUIVALENTS, beginning of period 1,077,988 763,413
CASH AND CASH EQUIVALENTS, end of period 580,382 708,362
SUPPLEMENTAL INFORMATION AND NONCASH TRANSACTIONS:    
Interest paid 97,839 98,701
Federal income taxes paid 24,638 27,947
Schedule of noncash investing and financing activities:    
Investment securities purchased not settled 0 24,965
Increase in capital commitments relating to low-income housing project investments 10,000 0
Loans transferred to other real estate owned, net $ 2,613 $ 490