XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net income $ 146,956 $ 138,264
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 26,700 8,500
Provision for losses on other real estate owned 890 1,164
Deferred tax provision/(benefit) 5,007 (11,971)
Depreciation and amortization 3,514 3,696
Amortization of right-of-use asset 4,686 4,912
Change in operating lease liabilities 3,453 558
Net gains on sale and transfers of other real estate owned (1,455) 0
Net gains on sale of loans (142) (58)
Loss on sales or disposal of premises and equipment 14 0
Amortization on alternative energy partnerships, venture capital and other investments 20,233 37,828
Net gains on sales of securities available-for-sale 0 (1,107)
Amortization/accretion of securities available-for-sale premiums/discounts, net (12,376) (12,912)
Unrealized loss on equity securities 5,581 10,457
Stock-based compensation and stock issued to officers as compensation 3,708 3,039
Net change in accrued interest receivable and other assets 20,418 (21,638)
Net change in other liabilities (64,276) 355
Net cash provided by operating activities 162,911 161,087
Cash Flows from Investing Activities    
Purchase of securities available-for-sale (779,062) (645,827)
Proceeds from repayments, maturities and calls of securities available-for-sale 713,395 571,097
Proceeds from sale of securities available-for-sale 0 33,690
Proceeds from sale of other real estate owned 10,316 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 15,263 107,012
Net (increase)/decrease in loans (458,424) 74,489
Purchase of premises and equipment (3,960) (1,449)
Net increase/(decrease) in affordable housing investments and alternative energy partnerships 1,384 (20,036)
Net cash (used for)/provided by investing activities (501,088) 119,472
Cash Flows from Financing Activities    
Increase in deposits 320,090 447,635
Advances from Federal Home Loan Bank 4,897,000 5,968,000
Repayment of Federal Home Loan Bank borrowings (4,545,000) (6,343,000)
Cash dividends paid (47,701) (49,473)
Purchases of treasury stock (77,338) (25,301)
Proceeds from shares issued under Dividend Reinvestment Plan 1,336 1,488
Taxes paid related to net share settlement of RSUs (2,755) (3,708)
Net cash provided by/(used for) financing activities 545,632 (4,359)
Increase in cash, cash equivalents, and restricted cash 207,455 276,200
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 1,246,975 1,105,001
Supplemental disclosure of cash flow information    
Interest 287,163 322,960
Income taxes paid 35,025 32,867
Non-cash investing and financing activities:    
Net change in unrealized holding gain/(loss) on securities available-for-sale, net of tax 16,385 (6,870)
Net change in unrealized holding loss on cash flow hedge derivatives 0 (774)
Loans transferred from held-for-investment to held-for-sale 28,458 106,953
Transfers to other real estate owned from loans held-for-investment $ 6,808 $ 0