XML 20 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income $ 140,408 $ 123,944
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Net amortization/accretion of premium/discount on securities 11,234 14,030
Depreciation, amortization and accretion, net 27,280 23,096
Provision for credit losses 16,960 34,497
Gain on mortgage loans sold, net (2,507) (2,879)
Investment losses on sales, net 12,512 0
Loss (gain) on other equity investments, net (159) 2,882
Stock-based compensation expense 10,561 10,340
Deferred tax expense 16,690 10,209
Losses on dispositions of other real estate and other investments 9 56
Gain on sale of fixed assets (210) (58)
Income from equity method investment (20,405) (16,035)
Dividends received from equity method investment 24,934 3,601
Excess tax benefit from stock compensation (3,605) (2,414)
Gain on commercial loans sold, net (467) (186)
Increase in other assets (86,175) (34,413)
Increase (decrease) in other liabilities (211,952) 30,470
Net cash provided by (used in) operating activities (21,691) 197,283
Activities in securities available-for-sale:    
Purchases (582,508) (165,236)
Sales 188,486 0
Maturities, prepayments and calls 66,753 39,236
Activities in securities held-to-maturity:    
Maturities, prepayments and calls 23,061 5,917
Proceeds from (Payments for) Securities Purchased under Agreements to Resell (14,117) 3,987
Proceeds from Sale, Loan and Lease, Held-for-Investment [Abstract] 679,602 505,746
Proceeds from Sale, Loan and Lease, Held-for-Investment 9,131 0
Purchases of software, premises and equipment (21,345) (17,316)
Proceeds from sales of software, premises and equipment 532 129
Proceeds from sale of other real estate 146 1,549
Purchase of bank owned life insurance policies (100,000) 0
Proceeds from bank owned life insurance settlements 0 1,622
Proceeds from Life Insurance Policy 0 141,308
Payments for (Proceeds from) Derivative Instrument, Investing Activities (21,661) 0
Proceeds from Sale of Federal Home Loan Bank Stock 6,389  
Proceeds from sale (purchase) of FHLB stock, net   (11,420)
Increase in other investments, net (39,271) (29,730)
Net cash used in investing activities (1,164,006) (535,700)
Financing activities:    
Net increase in deposits 1,636,475 862,224
Net increase (decrease) in securities sold under agreements to repurchase 33,749 (8,071)
Federal Home Loan Bank: Advances 0 450,000
Federal Home Loan Bank: Repayments/maturities (26) (450,000)
Principal payments of finance lease obligation (101) (93)
Restricted shares withheld for taxes & related tax benefits (5,786) (14,427)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes & related tax benefits (13,174) (4,137)
Common stock dividends paid (18,828) (17,269)
Preferred stock dividends paid (3,798) (3,798)
Net cash provided by financing activities 1,628,511 814,429
Net increase in cash, cash equivalents, and restricted cash 442,814 476,012
Cash, cash equivalents, and restricted cash, beginning of period 3,435,925 2,230,349
Cash, cash equivalents, and restricted cash, end of period 3,878,739 2,706,361
Commercial Loan    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Loans held-for-sale originated (62,603) (51,031)
Loans held-for-sale sold 70,656 54,429
Consumer Loan    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Loans held-for-sale originated (678,002) (466,061)
Loans held-for-sale sold $ 712,832 $ 468,570