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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 129,110 $ 125,428
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization/accretion of premium/discount on securities 16,048 12,195
Depreciation, amortization and accretion 14,367 14,049
Provision for credit losses 2,720 7,235
Gain on mortgage loans sold, net (4,066) (13,666)
Investment losses on sales, net 61 0
Gain on other equity investments, net 1,710 3,440
Stock-based compensation expense 9,448 5,399
Deferred tax expense 15,680 7,537
Gains on dispositions of other real estate and other investments (20) (132)
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (5,500) 0
Income from equity method investment (33,655) (28,950)
Dividends received from equity method investment 12,232 9,993
Excess tax benefit from stock compensation (2,639) (1,565)
Gain on commercial loans sold, net (488) (1,184)
Decrease in other assets 33,554 70,174
Decrease in other liabilities (98,465) (118,902)
Net cash provided by operating activities 52,115 119,733
Activities in securities available-for-sale:    
Purchases (45,579) (302,867)
Sales 2,866 0
Maturities, prepayments and calls 93,330 126,841
Activities in securities held-to-maturity:    
Purchases (374,043) 0
Maturities, prepayments and calls 15,391 9,653
Increase in securities purchased under agreements to resell (332,753) (450,000)
Increase in loans, net (1,062,733) (672,239)
Purchases of software, premises and equipment (10,072) (5,704)
Proceeds from sales of software, premises and equipment 172 0
Proceeds from sale of other real estate 319 1,980
Purchase of bank owned life insurance policies (75,000) 0
Proceeds from sale of FHLB stock 0 7,883
Acquisition, net of cash acquired (30,415) 0
Increase in other investments (18,777) (17,016)
Net cash used in investing activities (1,837,294) (1,301,469)
Financing activities:    
Net increase in deposits 995,940 587,418
Net increase in securities sold under agreements to repurchase 66,971 43,954
Federal Home Loan Bank: Repayments/maturities 0 (200,000)
Repayments of other borrowings (29,547) 0
Principal payments of finance lease obligation (67) (64)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes (5,461) (3,761)
Exercise of common stock options, net of shares surrendered for taxes (3,641) (2,152)
Common stock dividends paid (16,976) (13,902)
Preferred stock dividends paid (3,798) (3,798)
Net cash provided by financing activities 1,003,421 407,695
Net decrease in cash, cash equivalents, and restricted cash (781,758) (774,041)
Cash, cash equivalents, and restricted cash, beginning of period 4,101,539 3,961,449
Cash, cash equivalents, and restricted cash, end of period 3,319,781 3,187,408
Commercial Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (111,411) (115,154)
Loans held-for-sale sold 94,201 134,997
Consumer Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (417,668) (640,024)
Loans held-for-sale sold $ 400,316 $ 655,743