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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income (loss) $ 511,662 $ 496,772
Adjustments to reconcile net income to net cash used in operating activities:    
Provisions for credit losses 351,466 300,336
Income tax expense 164,904 169,698
Amortization of brokered deposit placement fee 6,230 8,101
Amortization of Secured Borrowing Facility upfront fee 1,913 1,762
Amortization of deferred loan origination costs and loan premium/(discounts), net 11,161 9,203
Net amortization of discount on investments (497) (1,480)
Depreciation of premises and equipment 11,953 13,489
Acquired intangible assets amortization expense 2,765 3,834
Stock-based compensation expense 31,543 31,741
Unrealized (gains) losses on derivatives and hedging activities, net (4) 62
Gains on sales of loans, net (323,680) (254,937)
Losses (gains) on securities, net 8,143 (385)
Other adjustments to net income, net 11,000 8,856
Changes in operating assets and liabilities:    
Increase in accrued interest receivable (887,045) (829,087)
Decrease in trading investments 1,634 0
Increase in non-marketable securities (509) (10,553)
Decrease in other interest-earning assets 4,042 3,409
Increase in other assets (37,362) (41,899)
Decrease in income taxes payable, net (141,806) (234,743)
Decrease in accrued interest payable (31,360) (6,121)
Decrease in other liabilities (30,270) (1,992)
Total adjustments (845,779) (830,706)
Total net cash used in operating activities (334,117) (333,934)
Investing activities    
Loans acquired and originated (6,430,903) (6,071,409)
Net proceeds from sales of loans held for investment and loans held for sale 4,168,714 3,761,691
Proceeds from FFELP Loan claim payments 0 27,579
Net decrease in loans held for investment and loans held for sale (other than loans acquired and originated, and loan sales) 2,132,718 2,021,627
Purchases of available-for-sale securities (70,262) (76,963)
Proceeds from sales and maturities of available-for-sale securities 407,881 744,798
Total net cash provided by investing activities 208,148 407,323
Financing activities    
Brokered deposit placement fee (3,615) (5,906)
Net (decrease) increase in certificates of deposit (1,249,292) 508,686
Net increase (decrease) in other deposits 188,886 (727,932)
Borrowings collateralized by loans in securitization trusts - issued 536,610 1,529,461
Borrowings collateralized by loans in securitization trusts - repaid (838,985) (727,688)
Unsecured debt issued 493,885 0
Unsecured debt repaid (500,000) 0
Borrowings under Secured Borrowing Facility 700,000 0
Fees paid on Secured Borrowing Facility (2,951) (2,333)
Common stock dividends paid (81,520) (71,834)
Preferred stock dividends paid (11,922) (13,929)
Common stock repurchased (244,919) (200,898)
Total net cash (used in) provided by financing activities (1,015,807) 287,627
Net (decrease) increase in cash, cash equivalents and restricted cash (1,141,776) 361,016
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 3,732,484 4,660,523
Cash disbursements made for:    
Interest 857,970 824,375
Income taxes paid 147,036 235,675
Income taxes refunded (5,561) (1,251)
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Balance Sheets:    
Cash and cash equivalents 3,539,341 4,489,539
Restricted cash 193,143 170,984
Total cash, cash equivalents and restricted cash 3,732,484 4,660,523
Supplemental non-cash investment activities:    
Accrued interest capitalized during the period 391,576 360,142
Trading investments received in consideration for loans sold 1,362 5,218
Available-for-sale investments received in consideration for loans sold 131,384 210,371
Collateralized Securities    
Financing activities    
Issuance costs (42) 0
Unsecured borrowings    
Financing activities    
Issuance costs $ (1,942) $ 0