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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Jun. 30, 2020
Mar. 31, 2020
OPERATING ACTIVITIES:        
Net income $ 46,855 $ 38,957 $ 23,541 $ 16,882
Adjustments to reconcile net income to net cash provided from operating activities:        
Depreciation 4,411     4,614
Deferred income/expense and capitalized servicing rights, net of amortization (7,203)     (1,129)
Amortization of core deposit intangibles 1,711     2,001
Gain on sale of securities, net (485)     (78)
Net change in valuation of financial instruments carried at fair value (59)     4,596
(Increase) decrease in deferred taxes 17,436     (16,507)
Increase in current taxes payable 9,506     2,067
Stock-based compensation 2,152     1,872
Net change in cash surrender value of BOLI (1,002)     (1,041)
Gain on sale of loans, excluding capitalized servicing rights (9,487)     (8,363)
(Gain) loss on disposal of real estate held for sale and property and equipment, net (298)     444
(Recapture) provision for credit losses (9,251)     23,470
Origination of loans held for sale (301,393)     (296,712)
Proceeds from sales of loans held for sale 419,412     333,094
Net change in:        
Other assets 20,319     (51,061)
Other liabilities 164,729     5,400
Net cash provided from operating activities 322,481     52,563
INVESTING ACTIVITIES:        
Purchases of securities—available-for-sale (1,225,723)     (143,973)
Principal repayments and maturities of securities—available-for-sale 434,651     82,760
Proceeds from sales of securities—available-for-sale 48,784     44,509
Purchases of securities—held-to-maturity (31,170)     (206,155)
Principal repayments and maturities of securities—held-to-maturity 9,982     3,786
Purchases of equity securities (4,750)     0
Proceeds from sales of equity securities 4,796     0
Loan originations, net of principal repayments (77,834)     16,646
Proceeds from sales of other loans 8,367     5,751
Purchases of property and equipment (2,334)     (3,086)
Proceeds from sale of real estate held for sale and sale of other property 1,999     877
Proceeds from FHLB stock repurchase program 2,358     47,840
Purchase of FHLB stock 0     (39,745)
Other 1,418     (72)
Net cash used in investing activities (829,456)     (190,862)
FINANCING ACTIVITIES:        
Increase in deposits, net 981,571     400,895
Repayment of long term FHLB advances (50,000)     0
Repayment of overnight and short term FHLB advances, net 0     (203,000)
Increase in other borrowings, net 31,474     10,289
Cash dividends paid (14,565)     (50,505)
Taxes paid related to net share settlement of equity awards 437     339
Cash paid for the repurchase of common stock 25,324     31,775
Net cash provided from financing activities 922,719     125,565
NET CHANGE IN CASH AND CASH EQUIVALENTS 415,744     (12,734)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 1,234,183   $ 295,001 307,735
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,649,927 $ 1,234,183   295,001
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:        
Interest paid in cash 5,829     13,014
Tax refunds received (paid) 100     (29)
NON-CASH INVESTING AND FINANCING TRANSACTIONS:        
Loans, net of discounts, specific loss allowances and unearned income, transferred to real estate owned and other repossessed assets 0     1,588
Dividends Payable $ 1,381     $ 15,277