XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - Unaudited - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income from continuing operations $ 53,721,000 $ 76,761,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision (benefit) for credit losses 19,603,000 15,997,000
Depreciation and amortization 8,833,000 6,055,000
Share-based compensation expense 3,005,000 3,718,000
Deferred taxes 18,656,000 (22,810,000)
Net amortization (accretion) of investment securities premiums and discounts (2,682,000) 918,000
Unrealized (gain) loss on investment securities (62,000) 276,000
Net (gain) loss on sale of investment securities 0 1,063,000
Impairment loss on fixed assets and leases 109,000 0
Unrealized gain (loss) on derivatives 52,000 (964,000)
Settlement of terminated fair value hedge derivatives 4,630,000 0
(Gain) loss on sale of loans 0 (2,070,000)
Origination and purchases of loans held for sale (185,919,000) (10,999,000)
Proceeds from the sales and repayments of loans held for sale 106,146,000 24,813,000
Amortization (accretion) of loan net deferred fees, discounts and premiums (23,039,000) (27,907,000)
Earnings on investment in bank-owned life insurance (2,647,000) (8,326,000)
(Increase) decrease in accrued interest receivable and other assets (932,000) 66,855,000
Increase (decrease) in accrued interest payable and other liabilities 18,064,000 (6,440,000)
Net Cash Provided By (Used In) Operating Activities 17,538,000 116,940,000
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities available for sale 69,648,000 224,809,000
Proceeds from maturities, calls and principal repayments of investment securities held to maturity 44,213,000 0
Proceeds from sales of investment securities available for sale 0 155,954,000
Purchases of investment securities available for sale 0 (814,246,000)
Purchases of investment securities held to maturity (73,074,000) 0
Origination of mortgage warehouse loans (4,702,988,000) (7,938,526,000)
Proceeds from repayments of mortgage warehouse loans 4,794,683,000 8,475,173,000
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans 736,616,000 159,706,000
Proceeds from sales of loans and leases 0 14,281,000
Purchases of loans (12,550,000) (206,330,000)
Proceeds from bank-owned life insurance 727,000 5,850,000
Net purchases of FHLB, Federal Reserve Bank, and other restricted stock (50,537,000)  
Net proceeds from sale of FHLB, Federal Reserve Bank, and other restricted stock   15,205,000
Purchases of bank premises and equipment (130,000) (274,000)
Proceeds from sales of leased assets under lessor operating leases 113,000 0
Purchases of leased assets under lessor operating leases (2,076,000) (2,930,000)
Net Cash Provided By (Used In) Investing Activities 804,645,000 88,672,000
Cash Flows from Financing Activities    
Net increase (decrease) in deposits (435,823,000) (362,364,000)
Net increase (decrease) in short-term borrowed funds from FHLB (300,000,000) (700,000,000)
Net increase (decrease) in federal funds purchased 0 625,000,000
Proceeds from long-term borrowed funds from FHLB and FRB 2,565,000,000 0
Repayments of long-term borrowed funds from FHLB and FRB (1,015,000,000) 0
Preferred stock dividends paid (3,450,000) (1,823,000)
Purchase of treasury stock (39,806,000) (6,310,000)
Payments of employee taxes withheld from share-based awards (2,280,000) (3,755,000)
Proceeds from issuance of common stock 55,000 208,000
Net Cash Provided By (Used In) Financing Activities 768,696,000 (449,044,000)
Net Increase (Decrease) in Cash and Cash Equivalents 1,590,879,000 (243,432,000)
Cash and Cash Equivalents – Beginning 455,806,000 518,032,000
Cash and Cash Equivalents – Ending 2,046,685,000 274,600,000
Non-cash Investing and Financing Activities:    
Transfer of loans held for investment to held for sale $ 16,000,000 $ 0