v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 175,319,000 $ 42,536,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 11,879,000 86,072,000
Depreciation, amortization and accretion 4,695,000 11,789,000
Deferred income tax expense (benefit) 5,866,000 (608,000)
Gain on sale of mortgage servicing rights 0 (1,467,000)
Funding of mortgage loans held for sale (752,952,000) (794,785,000)
Proceeds from sales of mortgage loans held for sale 786,226,000 698,716,000
Gains on sales of mortgage loans held for sale (10,065,000) (9,816,000)
Losses (gains) on sales of premises and equipment 44,000 (347,000)
Stock-based compensation 9,858,000 8,084,000
Income from bank-owned life insurance (8,297,000) (6,312,000)
Net change in operating leases 2,953,000 3,141,000
(Increase) decrease in other assets (1,370,000) 7,533,000
Decrease in other liabilities (41,670,000) (25,001,000)
Net cash provided by operating activities 182,486,000 19,535,000
Investing activities    
Purchases of securities available for sale (541,398,000) (946,095,000)
Proceeds from sales of securities available for sale 0 686,485,000
Proceeds from call/maturities of securities available for sale 238,435,000 113,025,000
Proceeds from call/maturities of securities held to maturity 49,562,000 52,352,000
Proceeds from sale of mortgage servicing rights 0 9,353,000
Net increase in loans (81,252,000) (480,005,000)
Purchases of premises and equipment (12,350,000) (14,996,000)
Proceeds from sales of premises and equipment 718,000 1,346,000
Proceeds from surrender of bank-owned life insurance 0 56,255,000
Purchases of FHLB stock (3,049,000) (17,758,000)
Proceeds from redemption of FHLB stock 16,015,000 12,075,000
Purchases of FRB stock (91,303,000) 0
Proceeds from redemption of FRB stock 233,000 0
Proceeds from sales of other assets 11,292,000 11,778,000
Net cash (paid) received in acquisition of businesses (67,612,000) 261,483,000
Other, net 5,603,000 1,855,000
Net cash used in investing activities (475,106,000) (252,847,000)
Financing activities    
Net increase in deposits 227,982,000 556,236,000
Net decrease in short-term borrowings (240,549,000) (919,000)
Proceeds from the issuance of long-term debt, net of issuance costs 295,854,000 0
Cash paid for dividends (43,844,000) (35,425,000)
Repurchase of shares in connection with stock repurchase program (136,338,000) 0
Net cash provided by financing activities 103,105,000 519,892,000
Net (decrease) increase in cash and cash equivalents (189,515,000) 286,580,000
Cash and cash equivalents at beginning of period 1,070,718,000 1,092,032,000
Cash and cash equivalents at end of period 881,203,000 1,378,612,000
Supplemental disclosures    
Cash paid for interest 226,319,000 199,936,000
Cash paid for income taxes 33,920,000 21,088,000
Noncash transactions:    
Transfers of loans to other real estate owned 12,935,000 4,281,000
Common stock issued in acquisition of businesses 0 1,059,911,000
Recognition of operating right-of-use assets and liabilities 4,702,000 12,251,000
Contingent consideration and holdbacks recognized in acquisition of business $ 8,741,000 $ 0