XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows — Unaudited - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities    
Net income from continuing operations $ 188,051 $ 199,323
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 61,088 31,850
Depreciation and amortization 24,226 20,027
Share-based compensation expense 10,048 10,702
Deferred taxes 21,999 (436)
Net amortization (accretion) of investment securities premiums and discounts (8,859) 2,139
Unrealized (gain) loss on investment securities 197 738
Net (gain) loss on sale of investment securities 429 6,227
Impairment loss on fixed assets and leases 124 1,362
Unrealized (gain) loss on derivatives (344) (2,348)
Settlement of terminated fair value hedge derivatives 4,630 0
(Gain) loss on sale of leased assets under lessor operating leases 439 350
(Gain) loss on sale of loans 869 (4,149)
Loss on sale of capital call lines of credit 5,037 0
Loss on sale of consumer installment loans 0 23,465
Origination and purchases of loans held for sale (470,318) (28,077)
Proceeds from the sales and repayments of loans held for sale 454,867 44,209
Amortization (accretion) of loan net deferred fees, discounts and premiums (74,016) (49,601)
Earnings on investment in bank-owned life insurance (9,617) (13,722)
(Increase) decrease in accrued interest receivable and other assets 917 16,883
Increase (decrease) in accrued interest payable and other liabilities 33,339 16,080
Net Cash Provided By (Used In) Operating Activities 243,106 275,022
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities available for sale 228,503 408,046
Proceeds from maturities, calls and principal repayments of investment securities held to maturity 175,896 13,631
Proceeds from sales of investment securities available for sale 4,075 681,633
Purchases of investment securities available for sale 0 (929,754)
Purchases of investment securities held to maturity (73,074) 0
Origination of mortgage warehouse loans (15,385,554) (23,568,943)
Proceeds from repayments of mortgage warehouse loans 15,766,489 24,247,843
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans 1,586,922 (1,639,900)
Proceeds from sales of loans and leases 409,503 136,920
Purchases of loans (702,409) (368,776)
Proceeds from bank-owned life insurance 56,645 11,807
Net purchases of sale of FHLB, Federal Reserve Bank, and other restricted stock (51,667)  
Net proceeds from sale of FHLB, Federal Reserve Bank, and other restricted stock   6,880
Purchases of bank premises and equipment (521) (587)
Proceeds from sale of fixed assets 73 0
Proceeds from sale of other real estate owned 33 0
Proceeds from sales of leased assets under lessor operating leases 2,515 2,889
Purchases of leased assets under lessor operating leases (20,257) (86,797)
Net Cash Provided By (Used In) Investing Activities 1,997,172 (1,085,108)
Cash Flows from Financing Activities    
Net increase (decrease) in deposits 36,624 744,514
Net increase (decrease) in short-term borrowed funds from FHLB (300,000) (700,000)
Net increase (decrease) in federal funds purchased 0 290,000
Proceeds from long-term borrowed funds from FHLB and FRB 2,565,000 500,000
Repayments of long-term borrowed funds from FHLB and FRB (1,525,000) 0
Repayments of other borrowings 0 (100,000)
Preferred stock dividends paid (10,823) (6,374)
Purchase of treasury stock (39,806) (27,820)
Payments of employee taxes withheld from share-based awards (2,429) (4,248)
Proceeds from issuance of common stock 324 447
Net Cash Provided By (Used In) Financing Activities 723,890 696,519
Net Increase (Decrease) in Cash and Cash Equivalents 2,964,168 (113,567)
Cash and Cash Equivalents – Beginning 455,806 518,032
Cash and Cash Equivalents – Ending 3,419,974 404,465
Non-cash Investing and Financing Activities:    
Transfer of investment securities available for sale to held to maturity 0 500,174
Purchases of investment securities held to maturity upon sale of consumer installment loans 436,841 400,001
Transfer of loans held for investment to held for sale 309,076 4,108
Transfer of loans held for sale to held for investment $ 14,377 $ 0