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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net income from continuing operations $ 354,268 $ 143,039 $ 81,387
Adjustments to reconcile net income to net cash provided by (used in) continuing operating activities:      
Provision for credit losses on loans and leases 27,426 62,774 24,227
Depreciation and amortization 21,667 18,514 13,608
Share-based compensation expense 13,860 12,883 9,851
Deferred taxes 17,754 (15,852) 9,640
Net amortization (accretion) of investment securities premiums and discounts 1,884 (443) 1,016
Unrealized (gain) loss on investment securities (2,720) (1,447) (1,299)
(Gain) loss on sale of investment securities (31,392) (20,078) (1,001)
Loss on sale of foreign subsidiaries 2,840 0 0
Unrealized (gain) loss on derivatives (3,208) 3,951 (3,162)
Loss on cash flow hedge derivative terminations 24,467 0 0
Settlement of terminated cash flow hedge derivatives (27,156) 0 0
Loss upon acquisition of interest-only GNMA securities 0 0 7,476
Fair value adjustment on loans held for sale (1,115) 2,565 0
(Gain) loss on sale of loans (12,855) (3,558) (2,804)
Origination of loans held for sale (73,952) (74,828) (48,044)
Proceeds from the sale of loans held for sale 65,241 72,999 47,455
Amortization (accretion) of loan net deferred fees, discounts and premiums (222,693) (2,381) 893
Earnings on investment in bank-owned life insurance (8,416) (7,009) (7,272)
(Increase) decrease in accrued interest receivable and other assets 46,655 (108,147) (63,104)
Increase (decrease) in accrued interest payable and other liabilities 102,985 50,436 (27,578)
Net Cash Provided by (Used in) Continuing Operating Activities 295,540 133,418 41,289
Cash Flows from Investing Activities      
Proceeds from maturities, calls and principal repayments on investment securities 317,046 236,101 38,709
Proceeds from sales of foreign subsidiaries 3,765 0 0
Proceeds from sales of investment securities available for sale 689,856 387,810 97,555
Purchases of investment securities available for sale (3,626,377) (1,201,913) 0
Origination of mortgage warehouse loans (55,034,537) (60,948,107) (31,782,542)
Proceeds from repayments of mortgage warehouse loans 56,365,692 59,582,277 30,900,905
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans 1,652,994 (4,220,617) 239,018
Proceeds from sale of loans and leases 398,015 26,362 273,388
Purchase of loans (1,907,222) (270,959) (1,167,417)
Purchases of bank-owned life insurance (46,462) 0 0
Proceeds from bank-owned life insurance 1,999 0 0
Net proceeds from sales of (purchases of) FHLB, Federal Reserve Bank, and other restricted stock 6,784 12,846 5,471
Purchases of bank premises and equipment (613) (4,668) (1,519)
Proceeds from sales of other real estate owned 45 97 735
Purchases of leased assets under lessor operating leases (32,338) (24,124) (48,552)
Proceeds from sales of leased assets under lessor operating leases 10,092 0 0
Net Cash Provided by (Used in) Continuing Investing Activities (1,201,261) (6,424,895) (1,444,249)
Cash Flows from Financing Activities      
Net increase (decrease) in deposits 5,467,995 2,660,993 1,506,700
Net increase (decrease) in short-term borrowed funds from the FHLB (150,000) 0 (748,070)
Net increase (decrease) in federal funds purchased (175,000) (288,000) 351,000
Net increase (decrease) in borrowed funds from PPP Liquidity Facility (4,415,016) 4,415,016 0
Proceeds from long-term borrowed funds from the FHLB 0 0 350,000
Proceeds from issuance of subordinated long-term debt 0 0 72,030
Proceeds from issuance of other long-term borrowings 98,799 0 24,477
Repayments of other borrowings 0 0 (25,000)
Redemption of preferred stock (82,497) 0 0
Preferred stock dividends paid (10,833) (14,076) (14,459)
Purchases of treasury stock (27,662) 0 (571)
Payments of employee taxes withheld from share-based awards (5,568) (2,063) (1,732)
Proceeds from issuance of common stock 27,762 923 2,150
Proceeds from sale of non-controlling interest in BMT 26,795 0 0
Net Cash Provided by (Used in) Continuing Financing Activities 754,775 6,772,793 1,516,525
Net Increase (Decrease) in Cash and Cash Equivalents From Continuing Operations (150,946) 481,316 113,565
Discontinued Operations:      
Net cash (used in) provided by operating activities (24,376) 18,605 36,991
Net cash used in investing activities 0 (72) (186)
Net cash provided by financing activities 0 (19,000) 0
Net Increase (Decrease) in Cash and Cash Equivalents From Discontinued Operations (24,376) (467) 36,805
Net Increase (Decrease) in Cash and Cash Equivalents (175,322) 480,849 150,370
Cash and Cash Equivalents – Beginning 693,354 212,505 62,135
Cash and Cash Equivalents – Ending 518,032 693,354 212,505
Supplementary Cash Flow Information:      
Interest paid 107,916 131,363 182,596
Income taxes paid 94,093 3,253 7,410
Noncash Operating and Investing Activities:      
Transfer of loans to other real estate owned 0 31 291
Distribution of investment in BM Technologies common stock 32,983 0 0
Transfer of loans held for investment to held for sale 0 74,050 499,774
Transfer of loans held for sale to held for investment 55,684 0 0
Transfer of multi-family loans held for sale to held for investment 0 401,144 0
Unsettled purchases of investment securities 0 2,244 0
Acquisition of interest-only GNMA securities securing a mortgage warehouse loan 0 0 17,157
Acquisition of residential reverse mortgage loans securing a mortgage warehouse loan $ 0 $ 0 $ 1,325