XML 21 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 345,136 $ 219,809
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,587 17,722
Other accretion and amortization (37,917) (624)
Stock-based compensation expense 22,616 19,154
Trading activity 166 1,358
Provision (benefit) for credit losses - loans 26,500 17,251
Deferred income taxes (15,005) (10,274)
Origination of loans held for sale (144,731) (158,500)
Unrealized and realized gains on loans held for sale (6,089) (5,650)
Proceeds from sale of loans held for sale 154,892 160,696
Changes in servicing rights (1,803) 375
Gain on FDIC Loan Purchase (92,397) 0
Gain on repurchase of subordinated notes (742) 0
Net change in assets and liabilities which provide (use) cash:    
Securities borrowed 28,486 251,687
Customer, broker-dealer and clearing receivables 81,444 94,058
Other Assets (51,254) (29,287)
Securities loaned (40,032) (359,787)
Customer, broker-dealer and clearing payables (58,301) (105,562)
Accounts payable and other liabilities 31,154 6,821
Net cash provided by operating activities 261,710 119,247
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale securities (9,612) (30,000)
Proceeds from sale and repayment of available-for-sale securities 39,391 9,735
Purchase of stock of regulatory agencies 0 (108,724)
Proceeds from redemption of stock of regulatory agencies 0 108,724
Origination of loans held for investment (8,040,181) (6,235,451)
Proceeds from sale of loans originally classified as held for investment 0 14,185
Mortgage warehouse loan activity, net 90,708 118,185
Proceeds from sale of other real estate owned and repossessed assets 4,401 2,311
Proceeds from BOLI claim settlement 0 2,778
Acquisition of business activity, net of cash acquired 0 (5,531)
Purchase of loans and leases, net of discounts and premiums (841,408) (914)
Principal repayments on loans 6,626,839 4,336,424
Purchases of furniture, equipment, software and intangibles (25,473) (19,698)
Net cash used in investing activities (2,155,335) (1,807,976)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 1,980,424 2,792,446
Repayments of the Federal Home Loan Bank term advances 0 (27,500)
Net (repayment) proceeds of other borrowings (27,200) (111,500)
Tax payments related to settlement of restricted stock units (8,383) (3,587)
Purchase of treasury stock (83,178) (31,605)
Repurchase of subordinated notes (4,213) 0
Net cash provided by financing activities 1,857,450 2,618,254
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (36,175) 929,525
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of year 2,382,086 1,574,699
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period 2,345,911 2,504,224
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid on interest-bearing liabilities 502,364 228,369
Income taxes paid 144,086 108,272
Transfers to other real estate and repossessed vehicles from loans held for investment 4,118 8,206
Transfers from loans held for investment to loans held for sale 0 14,185
Transfers from loans held for sale to loans and leases held for investment 2,783 690
Operating lease liabilities from obtaining right of use assets $ 5,767 $ 1,110