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Condensed Financial Statements of Parent Company (Tables)
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Summary of Condensed Balance Sheets of Parent Company
Balance Sheets
December 31,
(amounts in thousands)20212020
Assets
Cash in bank subsidiary$172,755 $110,626 
Investment securities (1)
20,575 — 
Investments in and receivables due from bank subsidiary1,463,528 1,198,857 
Investments in and receivables due from non-bank subsidiaries— 3,853 
Other assets7,526 970 
Total assets$1,664,384 $1,314,306 
Liabilities and Shareholders' equity
Borrowings$295,490 $196,259 
Other liabilities2,677 961 
Total liabilities298,167 197,220 
Shareholders' equity1,366,217 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)202120202019
Operating income:
Dividends from bank subsidiary$172,982 $65,000 $70,000 
Loss on sale of foreign subsidiaries(2,809)— — 
Total operating income170,173 65,000 70,000 
Operating expense:
Interest10,879 9,681 5,425 
Other3,121 1,498 744 
Total operating expense14,000 11,179 6,169 
Income before taxes and undistributed income of subsidiaries156,173 53,821 63,831 
Income tax benefit6,964 2,703 1,391 
Income before undistributed income of subsidiaries163,137 56,524 65,222 
Equity in undistributed income of subsidiaries151,510 76,054 14,105 
Net income314,647 132,578 79,327 
Preferred stock dividends11,693 14,041 14,459 
Loss on redemption of preferred stock2,820 — — 
Net income available to common shareholders300,134 118,537 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)202120202019
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 subsidiaries2,840 — — 
(Increase) decrease in other assets(5,100)5,613 (3,166)
Increase (decrease) in other liabilities1,054 1,088 1,775 
Net Cash Provided By (Used in) Operating Activities128,948 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 subsidiaries3,765 — — 
Net Cash Provided By (Used in) Investing Activities(66,820)(26)(74,767)
Cash Flows from Financing Activities
Proceeds from issuance of common stock27,762 923 2,150 
Proceeds from issuance of subordinated long-term debt— — 72,030 
Proceed from issuance of other long-term borrowings98,799 — 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 Activities1 (15,216)56,895 
Net Increase (Decrease) in Cash and Cash Equivalents62,129 47,983 45,959 
Cash and Cash Equivalents - Beginning Balance110,626 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 $— $—