v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 104,082 $ 77,133
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 11,005 16,655
(Gain)/loss on sale of investments (347) 0
Net (gain)/loss on sale of assets (715) 206
Mortgage banking activity (242) (1,771)
Gain on sale of SBA loans (2,403) (2,057)
Net depreciation, amortization and accretion (3,893) 1,658
(Increase)/decrease in other assets (23,335) 34,462
(Increase)/decrease in other liabilities 8,826 (28,552)
Net amortization on marketable securities (30) (66)
Noncash compensation expense related to stock benefit plans 2,568 3,647
Noncash write-down of other assets 31 315
Deferred income tax expense (38) (860)
Origination of loans held-for-sale (96,328) (81,769)
Proceeds from sale of loans held-for-sale 106,370 86,284
Net cash provided by operating activities 105,551 105,285
Investing activities:    
Purchase of marketable securities available-for-sale (392,228) (112,198)
Proceeds from maturities and principal reductions of marketable securities held-to-maturity 52,226 30,658
Proceeds from maturities and principal reductions of marketable securities available-for-sale 91,561 49,644
Proceeds from sale of marketable securities available-for-sale 40,197 0
Proceeds from bank-owned life insurance 14,339 111
Loan originations (2,964,359) (1,969,106)
Proceeds from loan maturities and principal reductions 2,747,020 1,866,780
Net proceeds of FHLB stock (6,717) 3,197
Proceeds from sale of real estate owned 43 410
Purchases of premises and equipment, net (9,864) (5,451)
Net cash used in investing activities (427,782) (135,955)
Financing activities:    
Net increase in deposits 218,801 56,475
Repayments of long-term borrowings (27,569) 0
Net increase/(decrease) in short-term borrowings 193,521 (2,323)
Increase in advances by borrowers for taxes and insurance 10,091 5,823
Cash dividends paid on common stock (58,869) (51,194)
Proceeds from stock options exercised 1,108 586
Net cash provided by financing activities 337,083 9,367
Net increase in cash and cash equivalents 14,852 (21,303)
Cash and cash equivalents at beginning of period 233,647 288,378
Net increase in cash and cash equivalents 14,852 (21,303)
Cash and cash equivalents at end of period 248,499 267,075
Cash paid during the period for:    
Interest on deposits and borrowings (including interest credited to deposit accounts of $85,455 and $80,748, respectively) 115,731 105,881
Income taxes 27,447 27,841
Non-cash activities:    
Loan foreclosures and repossessions $ 2,620 $ 1,977