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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash Flows from Operating Activities          
Net income $ 67,514 $ 82,371 $ 205,778 $ 271,598  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses 14,500 7,000 23,000 24,255  
Provision for losses on other real estate owned     1,164 0  
Deferred tax benefit     (20,452) (12,079)  
Depreciation and amortization     5,465 6,402  
Amortization of right-of-use asset     7,309 7,258  
Change in operating lease liabilities     (1,891) 444  
Net gains on sale of loans     (58) 0  
Loss on sales or disposal of premises and equipment     0 6  
Amortization on alternative energy partnerships, venture capital and other investments     61,905 60,497  
Net gains on sales of securities available-for-sale     (1,107) (14)  
Amortization/accretion of securities available-for-sale premiums/discounts, net     (19,182) (5,729)  
Unrealized loss/(gain) on equity securities (4,300) 6,200 6,204 (9,298)  
Write-off of securities available-for-sale     0 3,000  
Stock-based compensation and stock issued to officers as compensation     4,916 5,795  
Net change in accrued interest receivable and other assets     9,666 (61,019)  
Net change in other liabilities     (40,382) 27,813  
Net cash provided by operating activities     242,335 318,929  
Cash Flows from Investing Activities          
Purchase of securities available-for-sale     (988,498) (472,303)  
Proceeds from repayments, maturities and calls of securities available-for-sale     1,097,594 412,268  
Proceeds from sale of securities available-for-sale     33,690 0  
Purchase of Federal Home Loan Bank stock     (12,535) (21,550)  
Redemption of Federal Home Loan Bank stock     13,031 21,550  
Proceeds from sale of loans originally classified as held-for-investment     130,010 0  
Net decrease/(increase) in loans     26,036 (789,465)  
Purchase of premises and equipment     (2,654) (1,633)  
Net increase in affordable housing investments and alternative energy partnerships     (31,737) (36,076)  
Net cash provided/(used) for investing activities     264,937 (887,209)  
Cash Flows from Financing Activities          
Increase in deposits     618,611 1,130,271  
Advances from Federal Home Loan Bank     6,968,000 10,110,000  
Repayment of Federal Home Loan Bank borrowings     (7,448,000) (10,580,000)  
Cash dividends paid     (73,804) (73,938)  
Purchases of treasury stock     (60,610) (16,683)  
Proceeds from shares issued under Dividend Reinvestment Plan     2,217 2,700  
Taxes paid related to net share settlement of RSUs     (3,722) (3,538)  
Net cash provided by financing activities     2,692 568,812  
Increase in cash, cash equivalents, and restricted cash     509,964 532  
Cash, cash equivalents, and restricted cash, beginning of the period     828,801 1,162,402 $ 1,162,402
Cash, cash equivalents, and restricted cash, end of the period $ 1,338,765 $ 1,162,934 1,338,765 1,162,934 $ 828,801
Supplemental disclosure of cash flow information          
Interest     494,181 336,722  
Income taxes paid     41,027 60,332  
Non-cash investing and financing activities:          
Net change in unrealized holding gain/(loss) on securities available-for-sale, net of tax     19,737 (19,915)  
Net change in unrealized holding loss on cash flow hedge derivatives     (774) (1,323)  
Loans transferred from held-for-investment to held-for-sale     135,141 0  
Transfers to other real estate owned from loans held-for-investment     $ 0 $ 6,264