XML 18 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
Cash Flows from Operating Activities    
Net income $ 69,506 $ 71,435
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 15,500 1,900
Deferred tax provision/(benefit) 978 (4,782)
Depreciation and amortization 1,835 1,889
Amortization of right-of-use asset 2,305 2,477
Change in operating lease liabilities 1,269 (472)
Net gains on sale of loans (121) (20)
Loss on sales or disposal of premises and equipment 14 0
Amortization on alternative energy partnerships, venture capital and other investments 9,054 14,432
Net gains on sales of securities available-for-sale 0 (1,107)
Amortization/accretion of securities available-for-sale premiums/discounts, net (5,265) (6,370)
Unrealized loss on equity securities 4,191 9,026
Stock-based compensation and stock issued to officers as compensation 1,505 905
Net change in accrued interest receivable and other assets 40,065 (1,424)
Net change in other liabilities (41,877) 281
Net cash provided by operating activities 98,959 88,170
Cash Flows from Investing Activities    
Purchase of securities available-for-sale (464,837) (469,647)
Proceeds from repayments, maturities and calls of securities available-for-sale 602,868 384,721
Proceeds from sale of securities available-for-sale 0 33,690
Proceeds from sale of other real estate owned 773 0
Purchase of Federal Home Loan Bank stock 0 (12,535)
Redemption of Federal Home Loan Bank stock 0 13,031
Proceeds from sale of loans originally classified as held-for-investment 15,263 83,803
Net (increase)/decrease in loans (6,925) 10,634
Purchase of premises and equipment (2,698) (916)
Net increase/(decrease) in affordable housing investments and alternative energy partnerships 771 (5,680)
Net cash provided for investing activities 145,215 37,101
Cash Flows from Financing Activities    
Increase in deposits 131,236 520,843
Advances from Federal Home Loan Bank 2,399,000 4,403,000
Repayment of Federal Home Loan Bank borrowings (2,364,000) (4,678,000)
Cash dividends paid (23,855) (24,708)
Purchases of treasury stock (41,465) 8
Proceeds from shares issued under Dividend Reinvestment Plan 695 744
Taxes paid related to net share settlement of RSUs (791) (24)
Net cash provided by financing activities 100,820 221,863
Increase in cash, cash equivalents, and restricted cash 344,994 347,134
Cash, cash equivalents, and restricted cash, beginning of the period 1,039,520 828,801
Cash, cash equivalents, and restricted cash, end of the period 1,384,514 1,175,935
Supplemental disclosure of cash flow information    
Interest 147,629 155,048
Income taxes paid 370 282
Non-cash investing and financing activities:    
Net change in unrealized holding gain/(loss) on securities available-for-sale, net of tax 13,860 (6,422)
Net change in unrealized holding loss on cash flow hedge derivatives 0 (441)
Loans transferred from held-for-investment to held-for-sale 26,901 106,953
Transfers to other real estate owned from loans held-for-investment $ 1,186 $ 0