v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
USD ($)
Sep. 30, 2026
USD ($)
Sep. 30, 2025
USD ($)
Operating activities      
Net income $ 81,182 $ 232,083 $ 193,212
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for (recapture of) credit losses   25,633 27,567
Depreciation and amortization   38,405 22,086
Stock-based compensation expense   12,515 12,485
Pension expense (income) 2,184 6,584 6,694
Net amortization (accretion) on investment securities   (1,984) (1,915)
Net (gain) loss on investment securities   1,350 9,748
Gain on bargain purchase 37 12,118 0
Originations of loans held for sale   (493,899) (406,050)
Net gains from sales of loans held for sale (5,650) (18,355) (17,844)
Proceeds from sales of loans held for sale   919,215 415,608
Deferred income taxes   30,398 37,579
Operating Lease, Right-of-Use Asset, Amortization Expense   7,001 5,996
Payments for operating leases (2,607) (8,000) (6,338)
Bank owned life insurance income   5,363 4,070
Decrease (increase) in interest receivable   (6,719) (527)
(Decrease) increase in interest payable   (204) (8,109)
Decrease (increase) in other assets   (8,513) 19,380
(Decrease) increase in other liabilities   (25,266) (89,792)
Net cash provided by (used in) operating activities   692,763 215,710
Investing activities      
Proceeds from Sale of Debt Securities, Available-for-sale 15,500 575,963 353,863
Proceeds from calls, paydowns and maturities of securities available-for-sale   552,173 485,708
Payments to Acquire Debt Securities, Available-for-sale   1,893,537 979,030
Proceeds from calls, paydowns and maturities of securities held-to-maturity   20,414 5,557
Proceeds from Sale of Other Investments   10 19,359
Proceeds from Maturities, Prepayments and Calls of Other Investments   54,236 33,072
Payments to Acquire Other Investments   56,775 54,793
Net decrease (increase) in interest-bearing deposits with other banks   524,206 165,148
Net decrease (increase) in loans and leases   (240,104) 25,366
Proceeds from disposal of other real estate owned 120 184 55
Purchases of premises and equipment   (28,760) (12,729)
Net change in operating leases   (23,157) (5,548)
Payments to Acquire Businesses, Net of Cash Acquired   12,615 0
Payment to Acquire Life Insurance Policy, Investing Activities   (200) (72)
Proceeds from Life Insurance Policy   5,559 915
Life insurance surrenders   17,893 0
Net cash provided by (used in) investing activities   (479,280) 36,871
Financing activities      
Net (decrease) increase in total deposits   66,593 104,310
Net (decrease) increase in short-term borrowings   (33,520) (160,285)
Payments of long-term debt   168,971 125,958
Payments of Debt Issuance Costs   (165) 0
Cash dividends paid on common stock   (79,871) (70,247)
Net cash provided by (used in) financing activities   (215,934) (252,180)
Cash and due from banks:      
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation   (2,451) 401
Cash and due from bank at beginning of period   178,553 174,258
Cash and due from bank at end of period 176,102 176,102 174,659
Supplemental Disclosures      
Interest Paid   276,406 276,631
Income Tax Paid, before Refund Received   4,237 3,975
Noncash or Part Noncash Acquisition, Investments Acquired   12,077 38,060
Stock Issued During Period, Value, Acquisitions   149,654 0
Business Combination [Line Items]      
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration     0
Business Combination, Recognized Liability Assumed, Liability     0
Goodwill 0 412 0
Business Combination, Bargain Purchase, Gain Recognized, Amount (37) (12,118) $ 0
Westfield Bank      
Business Combination [Line Items]      
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration (499) (499)  
Business Combination, Recognized Liability Assumed, Liability 87 87  
Goodwill   412  
BankFinancial      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on bargain purchase   12,118  
Business Combination [Line Items]      
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets, Net Of Purchase Consideration 1,263,978 1,263,978  
Business Combination, Recognized Liability Assumed, Liability $ 1,251,860 1,251,860  
Business Combination, Bargain Purchase, Gain Recognized, Amount   $ (12,118)