v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 118,552 $ 100,945
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 11,341 7,301
Amortization of intangible assets 8,654 6,851
Net amortization on securities, loans, finance leases and borrowings 6,932 6,394
Stock-based compensation 5,727 5,563
Provision for credit losses 10,243 10,807
Amortization of mortgage servicing rights 415 386
Gain on equity securities (4,309) (244)
Income from bank-owned life insurance policies (2,023) (1,376)
Net gain on sale of assets (1,051) (989)
Loss from equity method investments 789 0
Change in other assets and liabilities (32,661) (19,441)
Net cash provided by operating activities 122,609 116,197
Investing activities:    
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities 33,741 27,399
Proceeds from maturities, calls, and paydowns of held-to-maturity investment securities 21,113 11,750
Proceeds from maturities and redemptions of equity and other investment securities, net 707 1,332
Purchases of held-to-maturity investment securities (30,914) (83,110)
Proceeds from sales of equity and other investment securities 5,819 0
Purchases of equity and other securities, net (12,687) (280)
Net (increase) decrease in loans (354,195) (114,426)
Cash paid for acquisitions, net of cash acquired (26,592) (302)
Proceeds from sales of premises, equipment and other assets 1,505 1,522
Purchases of premises and equipment (20,934) (27,858)
Net cash used in investing activities (382,437) (183,973)
Financing activities:    
Net increase in deposits 203,249 260,061
Net decrease in overnight borrowings 172,800 12,400
Net (decrease) increase in securities sold under agreement to repurchase, short-term (73,586) (80,932)
Payments on and maturities of other Federal Home Loan Bank borrowings (24,879) (35,733)
Payments of contingent consideration for acquisitions (2,338) (378)
Proceeds from the issuance of common stock for employee stock plans 10,099 3,667
Purchases of treasury stock (16,075) (90)
Cash dividends paid (49,533) (48,512)
Withholding taxes paid on share-based compensation (3,490) (2,463)
Net cash provided by financing activities 216,247 108,020
Change in cash, cash equivalents and restricted cash (43,581) 40,244
Cash, cash equivalents and restricted cash at beginning of period 301,755 197,004
Cash, cash equivalents and restricted cash at end of period 258,174 237,248
Supplemental disclosures of cash flow information:    
Cash paid for interest 91,509 96,258
Cash paid for income taxes 28,990 23,353
Supplemental disclosures of noncash financing and investing activities:    
Dividends declared and unpaid 24,912 24,514
Transfers from loans to other real estate 427 6,542
Transfers from premises and equipment, net to other assets 4,811 0
Acquisitions:    
Fair value of assets acquired, excluding acquired cash and intangibles 121,329 94
Fair value of liabilities assumed 121,503 131
Contingent consideration in exchange for acquired assets $ 1,565 $ 3,499