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Condensed Financial Statements of Parent Company (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Summary of Condensed Balance Sheets of Parent Company | Balance Sheets
| December 31,
(amounts in thousands) | 2021 |  | 2020
Assets |  |  |
Cash in bank subsidiary | $ | 172,755 |  |  | $ | 110,626 |
Investment securities (1) | 20,575 |  |  | — |
Investments in and receivables due from bank subsidiary | 1,463,528 |  |  | 1,198,857 |
Investments in and receivables due from non-bank subsidiaries | — |  |  | 3,853 |
Other assets | 7,526 |  |  | 970 |
Total assets | $ | 1,664,384 |  |  | $ | 1,314,306 |
Liabilities and Shareholders' equity |  |  |
Borrowings | $ | 295,490 |  |  | $ | 196,259 |
Other liabilities | 2,677 |  |  | 961 |
Total liabilities | 298,167 |  |  | 197,220 |
Shareholders' equity | 1,366,217 |  |  | 1,117,086 |
Total Liabilities and Shareholders' Equity | $ | 1,664,384 |  |  | $ | 1,314,306 |
(1) Includes perpetual preferred stock issued by domestic banks or bank holding companies and equity securities issued by fintech companies, without a readily determinable fair value, at December 31, 2021. No impairments or measurement adjustments have been recorded on the equity securities without a readily determinable fair value since acquisition.
Summary of Condensed Income Statements of Parent Company | Income and Comprehensive Income Statements
| For the Years Ended December 31,
(amounts in thousands) | 2021 |  | 2020 |  | 2019
Operating income: |  |  |  |  |
Dividends from bank subsidiary | $ | 172,982 |  |  | $ | 65,000 |  |  | $ | 70,000 |
Loss on sale of foreign subsidiaries | (2,809) |  |  | — |  |  | — |
Total operating income | 170,173 |  |  | 65,000 |  |  | 70,000 |
Operating expense: |  |  |  |  |
Interest | 10,879 |  |  | 9,681 |  |  | 5,425 |
Other | 3,121 |  |  | 1,498 |  |  | 744 |
Total operating expense | 14,000 |  |  | 11,179 |  |  | 6,169 |
Income before taxes and undistributed income of subsidiaries | 156,173 |  |  | 53,821 |  |  | 63,831 |
Income tax benefit | 6,964 |  |  | 2,703 |  |  | 1,391 |
Income before undistributed income of subsidiaries | 163,137 |  |  | 56,524 |  |  | 65,222 |
Equity in undistributed income of subsidiaries | 151,510 |  |  | 76,054 |  |  | 14,105 |
Net income | 314,647 |  |  | 132,578 |  |  | 79,327 |
Preferred stock dividends | 11,693 |  |  | 14,041 |  |  | 14,459 |
Loss on redemption of preferred stock | 2,820 |  |  | — |  |  | — |
Net income available to common shareholders | 300,134 |  |  | 118,537 |  |  | 64,868 |
Comprehensive income | $ | 315,431 |  |  | $ | 128,064 |  |  | $ | 100,740 |
Summary of Condensed Statements of Cash Flows of Parent Company | Statements of Cash Flows
| For the Years Ended December 31,
(amounts in thousands) | 2021 |  | 2020 |  | 2019
Cash Flows from Operating Activities |  |  |  |  |
Net income | $ | 314,647 |  |  | $ | 132,578 |  |  | $ | 79,327 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |
Equity in undistributed earnings of subsidiaries, net of dividends received from Bank | (151,510) |  |  | (76,054) |  |  | (14,105) |
Distribution of investment in BM Technologies common stock from Bank | (32,983) |  |  | — |  |  | — |
Loss on sale of foreign subsidiaries | 2,840 |  |  | — |  |  | — |
(Increase) decrease in other assets | (5,100) |  |  | 5,613 |  |  | (3,166) |
Increase (decrease) in other liabilities | 1,054 |  |  | 1,088 |  |  | 1,775 |
Net Cash Provided By (Used in) Operating Activities | 128,948 |  |  | 63,225 |  |  | 63,831 |
Cash Flows from Investing Activities |  |  |  |  |
Purchases of investment securities | (20,575) |  | ` | — |  |  | — |
Payments for investments in and advances to subsidiaries | (50,010) |  |  | (26) |  |  | (74,767) |
Proceeds from sales of foreign subsidiaries | 3,765 |  |  | — |  |  | — |
Net Cash Provided By (Used in) Investing Activities | (66,820) |  |  | (26) |  |  | (74,767) |
Cash Flows from Financing Activities |  |  |  |  |
Proceeds from issuance of common stock | 27,762 |  |  | 923 |  |  | 2,150 |
Proceeds from issuance of subordinated long-term debt | — |  |  | — |  |  | 72,030 |
Proceed from issuance of other long-term borrowings | 98,799 |  |  | — |  |  | 24,477 |
Repayments of other borrowings | — |  |  | — |  |  | (25,000) |
Redemption of preferred stock | (82,497) |  |  | — |  |  | — |
Preferred stock dividends paid | (10,833) |  |  | (14,076) |  |  | (14,459) |
Purchase of treasury stock | (27,662) |  |  | — |  |  | (571) |
Payments of employee taxes withheld from share-based awards | (5,568) |  |  | (2,063) |  |  | (1,732) |
Net Cash Provided by (Used in) Financing Activities | 1 |  |  | (15,216) |  |  | 56,895 |
Net Increase (Decrease) in Cash and Cash Equivalents | 62,129 |  |  | 47,983 |  |  | 45,959 |
Cash and Cash Equivalents - Beginning Balance | 110,626 |  |  | 62,643 |  |  | 16,684 |
Cash and Cash Equivalents - Ending Balance | $ | 172,755 |  |  | $ | 110,626 |  |  | $ | 62,643 |
Non-cash Investing and Financing Activities: |  |  |  |  |
Distribution of investment in BM Technologies common stock | $ | 32,983 |  |  | $ | — |  |  | $ | — |

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