XML 83 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income from continuing operations $ 181,469 $ 250,143 $ 228,034
Adjustments to reconcile net income to net cash provided by (used in) continuing operating activities:      
Provision for credit losses 73,451 74,611 60,066
Depreciation and amortization 33,552 31,813 27,157
Share-based compensation expense 14,435 12,585 14,150
Deferred taxes (1,143) 22,177 6,907
Net amortization (accretion) of investment securities premiums and discounts (4,483) (11,582) 1,482
Unrealized (gain) loss on investment securities 94 (62) 710
Net (gain) loss on sale of investment securities 27,009 574 23,164
Unrealized gain on equity method investments (11,430) 0 0
Impairment loss on fixed assets and leases 0 124 1,362
Unrealized (gain) loss on derivatives (1,856) 0 (2,391)
Settlement of terminated fair value hedge derivatives 0 4,630 0
Fair value adjustment on loans held for sale 754 0 0
Net (gain) loss on sale of loans and leases 15,628 867 (4,232)
Loss on sale of capital call lines of credit 0 5,037 0
Loss on sale of consumer installment loans 0 0 23,465
Origination and purchases of loans held for sale (1,361,112) (806,582) (366,496)
Proceeds from the sales and repayments of loans held for sale 1,348,428 600,488 59,594
Amortization (accretion) of loan net deferred fees, discounts and premiums (27,486) (90,581) (53,515)
Earnings on investment in bank-owned life insurance (9,442) (11,777) (15,697)
(Increase) decrease in accrued interest receivable and other assets (99,977) 23,584 (3,591)
Increase (decrease) in accrued interest payable and other liabilities (32,834) 18,680 (20,994)
Net Cash Provided by (Used in) Operating Activities 145,057 124,729 (20,825)
Cash Flows from Investing Activities      
Proceeds from maturities, calls and principal repayments of investment securities available for sale 629,192 323,298 464,060
Proceeds from maturities, calls and principal repayments of investment securities held to maturity 291,497 252,437 59,507
Proceeds from sales of investment securities available for sale 624,917 297,417 983,575
Purchases of investment securities available for sale (845,788) (1,425) (1,357,354)
Purchases of investment securities held to maturity (14,955) (73,074) 0
Purchases of equity method investments (5,140) 0 0
Origination of mortgage finance loans (22,147,520) (20,056,973) (28,966,329)
Proceeds from repayments of mortgage finance loans 21,721,051 20,465,303 29,895,527
Net (increase) decrease in loans and leases, excluding mortgage finance loans (1,067,778) 2,267,601 (1,933,109)
Proceeds from sales of loans and leases 35,003 409,503 136,920
Purchases of loans (198,393) (709,197) (483,980)
Proceeds from bank-owned life insurance 5,110 56,645 11,807
Net (purchases of) proceeds from sales of FHLB, Federal Reserve Bank, and other restricted stock 13,334    
Net (purchases of) proceeds from sales of FHLB, Federal Reserve Bank, and other restricted stock   (35,117) (3,174)
Purchases of bank premises and equipment (1,491) (590) (4,046)
Proceeds from sale of fixed assets 0 73 0
Proceeds from sales of other real estate owned 79 33 0
Proceeds from sales of leased assets under lessor operating leases 18,487 2,541 7,485
Purchases of leased assets under lessor operating leases (63,696) (40,752) (109,301)
Net Cash Provided By (Used in) Investing Activities (1,006,091) 3,157,723 (1,298,412)
Cash Flows from Financing Activities      
Net increase (decrease) in deposits 933,700 (238,149) 1,379,029
Net increase (decrease) in short-term borrowed funds from the FHLB 100,000 (300,000) (400,000)
Net increase (decrease) in federal funds purchased 0 0 (75,000)
Proceeds from long-term borrowed funds from FHLB and FRB 155,000 2,565,000 500,000
Repayments of long-term borrowed funds from FHLB and FRB (325,000) (1,865,000) 0
Repayments of other borrowings (25,000) 0 (100,000)
Preferred stock dividends paid (15,147) (14,636) (9,326)
Purchases of treasury stock (19,243) (39,806) (33,162)
Payments of employee taxes withheld from share-based awards (5,452) (2,433) (5,063)
Proceeds from issuance of common stock 1,761 3,112 533
Net Cash Provided by (Used in) Financing Activities 800,619 108,088 1,257,011
Net Increase (Decrease) in Cash and Cash Equivalents (60,415) 3,390,540 (62,226)
Cash and Cash Equivalents – Beginning Balance 3,846,346 455,806 518,032
Cash and Cash Equivalents – Ending Balance 3,785,931 3,846,346 455,806
Supplementary Cash Flow Information:      
Interest paid 715,214 649,544 226,993
Income taxes paid 57,593 44,972 80,054
Noncash Investing and Financing Activities:      
Transfer of investment securities available for sale to held to maturity 0 0 500,174
Purchases of investment securities held to maturity upon sale of consumer installment loans 160,029 436,841 400,001
Transfer of loans held for investment to held for sale 56,192 309,076 4,079
Transfer of loans held for sale to held for investment $ 7,181 $ 15,163 $ 0