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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income $ 86,609 $ 143,269 $ 120,144 $ 124,080
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Accretion of investment discounts, net (13,727)     (17,693)
Gain on sale of investment securities, net (4)     (12)
Provision for credit losses 27,403     17,136
Change in cash surrender value of bank-owned life insurance (5,269)     (4,672)
Depreciation, amortization and accretion 35,027     39,962
Gain on sale of premises and equipment (3,276)     (183)
Additions to residential mortgage servicing rights carried at fair value (1,429)     (1,237)
Change in fair value of residential mortgage servicing rights carried at fair value 4,124     36
Stock-based compensation 11,186     4,422
Net increase in equity and other investments (11,745)     (1,773)
(Gain) loss on equity securities, net (1,702)     1,565
Gain on sale of loans and leases, net (2,700)     (1,605)
Change in fair value of loans held for sale (889)     (189)
Origination of loans held for sale (136,084)     (86,903)
Proceeds from sales of loans held for sale 143,679     71,990
Change in other assets and liabilities:        
Net decrease (increase) in other assets 65,293     (38,767)
Net (decrease) increase in other liabilities (74,484)     79,351
Net cash provided by operating activities 122,012     185,508
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of investment securities available for sale 0     (2,130)
Proceeds from investment securities available for sale 189,810     110,458
Purchases of restricted equity securities (27,046)     (11,250)
Redemption of restricted equity securities 51,770     74,250
Net change in loans and leases 33,864     (263,625)
Proceeds from sales of loans and leases 4,077     18,980
Purchases of premises and equipment, net of proceeds from sales (241)     (5,899)
Proceeds from bank-owned life insurance death benefits 299     1,160
Purchase of bank-owned life insurance (2,700)     0
Other 412     381
Net cash provided by (used in) investing activities 250,245     (77,675)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Net increase in deposit liabilities 496,962     99,140
Net decrease in securities sold under agreements to repurchase (44,241)     (38,546)
Proceeds from borrowings 2,050,000     3,900,000
Repayment of borrowings (2,600,000)     (3,950,000)
Net proceeds from issuance of common stock under employee stock purchase plan 1,384     0
Dividends paid on common stock (75,170)     (74,997)
Repurchase and retirement of common stock (6,741)     (4,847)
Net cash used in financing activities (177,806)     (69,250)
Net increase in cash and cash equivalents 194,451     38,583
Cash and cash equivalents, beginning of period 1,878,255   $ 2,201,117 2,162,534
Cash and cash equivalents, end of period 2,072,706 $ 1,878,255   2,201,117
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:        
Interest 221,042     278,634
Income taxes 1,317     566
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:        
Changes in unrealized gains and losses on investment securities available for sale, net of taxes 96,425     (90,778)
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes $ 7,068     $ 4,775