v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 157,565,000 $ 136,009,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 23,588,000 26,312,000
Provision for credit losses on loans and securities 4,931,000 (2,319,000)
Provision charge for credit losses on off-balance sheet credit exposures 2,287,000 69,000
Deferred tax expense 3,653,000 7,153,000
Amortization of operating lease right-of-use assets 7,301,000 7,015,000
Income on Bank-owned life insurance (7,833,000) (4,678,000)
Net amortization of premiums and discounts on securities 8,556,000 8,449,000
Accretion of net deferred loan fees (4,468,000) (3,012,000)
Amortization of premiums on purchased loans, net 152,000 129,000
Originations of loans held for sale (24,879,000) (36,107,000)
Proceeds from sales of loans held for sale 29,956,000 170,708,000
Allocation of stock award expense 5,121,000 4,802,000
Allocation of stock option expense 0 17,000
Net gain on sale of loans (2,070,000) (1,760,000)
Net loss (gain) on securities transactions 309,000 (87,000)
Net gain on sale of premises and equipment (992,000) (624,000)
Net (gain) loss on sale of foreclosed assets (117,000) 11,000
Increase in accrued interest receivable (2,320,000) (1,554,000)
(Increase) decrease in other assets (34,047,000) 25,106,000
Increase (decrease) in other liabilities 36,803,000 (60,357,000)
Net cash provided by operating activities 203,496,000 275,282,000
Cash flows from investing activities:    
Net increase in loans (535,289,000) (419,566,000)
Purchases of loans 0 (321,000)
Proceeds from sales of foreclosed assets 1,140,000 0
Proceeds from maturities, calls and paydowns of held to maturity debt securities 25,608,000 29,424,000
Purchases of investment securities held to maturity (9,954,000) (10,928,000)
Proceeds from sales of available for sale debt securities 23,866,000 1,670,000
Proceeds from maturities, calls and paydowns of available for sale debt securities 271,337,000 242,868,000
Purchases of available for sale debt securities (437,659,000) (430,010,000)
Proceeds from redemption of Federal Home Loan Bank stock 198,972,000 185,663,000
Purchases of Federal Home Loan Bank stock (213,957,000) (199,917,000)
BOLI claim benefits received 3,979,000 906,000
Proceeds from sales of premises and equipment 2,767,000 2,348,000
Purchases of premises and equipment (13,929,000) (5,348,000)
Net cash (used in) investing activities (683,119,000) (603,211,000)
Cash flows from financing activities:    
Net increase in deposits 266,486,000 84,711,000
Increase in mortgage escrow deposits 7,526,000 8,044,000
Cash dividends paid to stockholders (61,725,000) (63,223,000)
Purchase of treasury stock (10,255,000) 0
Purchase of employee restricted shares to fund statutory tax withholding (2,687,000) (2,842,000)
Stock options exercised 1,510,000 0
Proceeds from long-term borrowings 50,000,000 504,500,000
Payments on long-term borrowings (102,790,000) (327,702,000)
Net increase in short-term borrowings 348,367,000 177,427,000
Net cash provided by financing activities 496,432,000 380,915,000
Net increase in cash and cash equivalents 16,809,000 52,986,000
Cash and cash equivalents at beginning of period 209,057,000 205,869,000
Restricted cash at beginning of period 2,427,000 70,000
Total cash and cash equivalents 228,293,000 258,925,000
Cash and cash equivalents at end of period 228,293,000 257,953,000
Restricted cash at end of period 0 972,000
Cash paid during the period for:    
Interest on deposits and borrowings 226,892,000 248,338,000
Income taxes 25,463,000 56,551,000
Transfer of loans receivable to foreclosed assets $ 0 $ 0