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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 375,812 $ 541,924
Adjustments to reconcile net income to net cash used in operating activities:    
Provisions for credit losses 172,004 28,871
Income tax expense 114,941 184,108
Amortization of brokered deposit placement fee 4,373 5,484
Amortization of Secured Borrowing Facility upfront fee 1,208 1,174
Amortization of deferred loan origination costs and loan premium/(discounts), net 7,469 6,260
Net amortization of discount on investments (391) (1,047)
Depreciation of premises and equipment 7,921 9,267
Acquired intangible assets amortization expense 1,919 2,609
Stock-based compensation expense 22,607 23,367
Unrealized (gains) losses on derivatives and hedging activities, net (5) 43
Gains on sales of loans, net (187,722) (254,968)
(Gains) losses on securities, net 13,019 (4,221)
Other adjustments to net income, net 7,437 5,602
Changes in operating assets and liabilities:    
Increase in accrued interest receivable (590,998) (550,931)
Increase in trading investments (812) 0
Increase in non-marketable securities (234) (283)
Decrease in other interest-earning assets 2,778 2,867
Increase in other assets (52,789) (23,389)
Decrease in income taxes payable, net (137,874) (163,936)
Increase (decrease) in accrued interest payable 719 (5,572)
Decrease in other liabilities (46,162) (27,742)
Total adjustments (660,592) (762,437)
Total net cash used in operating activities (284,780) (220,513)
Investing activities    
Loans acquired and originated (3,474,194) (3,291,778)
Net proceeds from sales of loans held for investment and loans held for sale 2,208,587 3,761,722
Proceeds from FFELP Loan claim payments 0 20,034
Net decrease in loans held for investment and loans held for sale (other than loans acquired and originated, and loan sales) 1,424,568 1,380,714
Purchases of available-for-sale securities (70,262) (60,012)
Proceeds from sales and maturities of available-for-sale securities 373,236 410,835
Total net cash provided by investing activities 461,935 2,221,515
Financing activities    
Net decrease in certificates of deposit (751,530) (175,483)
Net increase (decrease) in other deposits 159,229 (744,832)
Borrowings collateralized by loans in securitization trusts - issued 536,836 665,069
Borrowings collateralized by loans in securitization trusts - repaid (564,760) (494,161)
Unsecured debt issued 493,885 0
Unsecured debt repaid (500,000) 0
Fees paid on Secured Borrowing Facility (2,917) (2,333)
Common stock dividends paid (54,619) (48,305)
Preferred stock dividends paid (7,928) (9,281)
Common stock repurchased (101,401) (86,505)
Total net cash used in financing activities (795,189) (895,831)
Net (decrease) increase in cash, cash equivalents and restricted cash (618,034) 1,105,171
Cash, cash equivalents and restricted cash at beginning of period 4,874,260 4,299,507
Cash, cash equivalents and restricted cash at end of period 4,256,226 5,404,678
Cash disbursements made for:    
Interest 547,032 535,146
Income taxes paid 137,974 164,710
Income taxes refunded (550) (1,251)
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Balance Sheets:    
Cash and cash equivalents 4,092,465 5,262,448
Restricted cash 163,761 142,230
Total cash, cash equivalents and restricted cash 4,256,226 5,404,678
Supplemental non-cash investment activities:    
Accrued interest capitalized during the period 268,759 248,332
Trading investments received in consideration for loans sold 0 5,218
Available-for-sale investments received in consideration for loans sold 0 210,371
Collateralized Securities    
Financing activities    
Issuance costs (42) 0
Unsecured borrowings    
Financing activities    
Issuance costs $ (1,942) $ 0