v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
USD ($)
Sep. 30, 2025
USD ($)
Operating activities:    
Net income $ 154,801 $ 80,300
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 20,122 47,860
(Gain) on sale of investments (660) (36)
Net (gain)/loss on sale of assets (1,052) 68
Mortgage banking activity (1,430) (2,774)
Gain on sale of SBA loans (3,484) (2,398)
Net depreciation, amortization and accretion (755) 1,706
(Increase)/decrease in other assets (55,562) 36,558
(Increase)/decrease in other liabilities (3,655) (9,258)
Net amortization on marketable securities 31 (211)
Noncash compensation expense related to stock benefit plans 4,110 4,532
Noncash write-down of other assets 1,132 2,589
Deferred income tax expense (36) (8,231)
Origination of loans held-for-sale (157,572) (145,358)
Proceeds from sale of loans held-for-sale 176,274 141,882
Net cash provided by operating activities 132,264 147,229
Investing activities:    
Purchase of marketable securities available-for-sale (438,772) (134,179)
Proceeds from maturities and principal reductions of marketable securities held-to-maturity 70,131 47,634
Proceeds from maturities and principal reductions of marketable securities available-for-sale 136,054 88,249
Proceeds from sale of marketable securities available-for-sale 40,197 80,171
Proceeds from bank-owned life insurance 14,730 776
Loan originations (4,465,625) (3,095,013)
Proceeds from loan maturities and principal reductions 4,077,772 3,208,141
Net (purchases)/proceeds of FHLB stock (14,811) 17,065
Proceeds from sale of real estate owned 418 584
Purchases of premises and equipment, net (17,683) (9,099)
Acquisitions, net of cash received 0 30,899
Net cash (used in)/provided by investing activities (597,589) 235,228
Financing activities:    
Net increase/(decrease) in deposits 332,021 (65,917)
Repayments of long-term borrowings (147,369) 0
Net increase/(decrease) in short-term borrowings 373,236 (226,095)
Decrease in advances by borrowers for taxes and insurance (17,009) (20,202)
Cash dividends paid on common stock (88,463) (80,567)
Proceeds from stock options exercised 2,572 763
Net cash provided by/(used in) financing activities 454,988 (392,018)
Net decrease in cash and cash equivalents (10,337) (9,561)
Cash and cash equivalents at beginning of period 233,647 288,378
Net increase in cash and cash equivalents (10,337) (9,561)
Cash and cash equivalents at end of period 223,310 278,817
Cash paid during the period for:    
Interest on deposits and borrowings (including interest credited to deposit accounts of $129,928 and $132,632, respectively) 177,721 159,987
Income taxes 42,002 35,616
Non-cash activities:    
Loan foreclosures and repossessions $ 4,105 2,996
Business acquisitions:    
Fair value of assets acquired   2,268,775
Northwest Bancshares, Inc. common stock issued   (230,200)
Cash paid   (3,607)
Liabilities assumed   $ 2,034,968