v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 197,998,000 $ 197,034,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense 14,129,000 7,727,000
Specific reserve, other real estate owned 23,000 20,000
Depreciation of bank premises and equipment 12,401,000 11,099,000
Gain on sale of bank premises and equipment (49,000) (13,000)
Gain on sale of other real estate owned 8,000 479,000
Accretion of investment securities discounts (3,429,000) (2,181,000)
Amortization of investment securities premiums 1,841,000 2,276,000
Unrealized loss (gain) on equity securities with readily determinable fair values 28,000 (89,000)
Stock based compensation expense 33,000 66,000
(Losses) earnings from affiliates and other investments (1,507,000) 1,272,000
Deferred tax expense 1,812,000 2,191,000
Increase in accrued interest receivable (5,315,000) (2,667,000)
(Increase) decrease in other assets (9,828,000) 21,627,000
Increase (decrease) in other liabilities 6,809,000 (2,882,000)
Net cash provided by operating activities 214,954,000 235,959,000
Investing activities:    
Proceeds from maturities of securities 3,075,000 1,200,000
Proceeds from sales and calls of available for sale securities 3,345,000 4,235,000
Purchases of available for sale securities (762,596,000) (376,800,000)
Principal collected on mortgage backed securities 599,472,000 445,909,000
Net increase in loans (406,158,000) (339,775,000)
Purchases of other investments (24,145,000) (30,450,000)
Distributions from other investments 15,048,000 478,000
Purchases of bank premises and equipment (10,353,000) (11,242,000)
Proceeds from sales of bank premises and equipment 49,000 13,000
Proceeds from sales of other real estate owned 967,000 3,498,000
Net cash used in investing activities (581,296,000) (302,934,000)
Financing activities:    
Net (decrease) increase in non-interest bearing demand deposits (12,539,000) 107,628,000
Net increase in savings and interest bearing demand deposits 255,698,000 139,142,000
Net increase in time deposits 56,379,000 116,046,000
Net increase in securities sold under repurchase agreements 26,382,000 80,832,000
Net (decrease) increase in other borrowed funds (107,000) 49,896,000
Purchase of treasury stock (157,000) (4,546,000)
Proceeds from stock transactions 746,000 793,000
Payments of cash dividends (45,390,000) (43,550,000)
Net cash provided by financing activities 281,012,000 446,241,000
(Decrease) increase in cash and cash equivalents (85,330,000) 379,266,000
Cash and cash equivalents at beginning of period 536,487,000 352,652,000
Cash and cash equivalents at end of period 451,157,000 731,918,000
Supplemental cash flow information:    
Interest paid 100,410,000 109,258,000
U.S. federal income taxes paid 39,373,000 42,976,000
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned $ 92,000 $ 1,700,000