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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 135,275 $ 119,872
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred loan origination fees and fair value premiums on loans 1,182 827
Amortization of investment securities (discounts), net of accretion of premiums (3,185) 254
Amortization of other intangible assets 5,174 6,431
Net change in operating leases 251 270
Depreciation and amortization of premises and equipment 15,290 10,593
Deferred income tax expense, net 50,947 52,229
Provision for credit losses 40,919 15,362
Stock-based compensation 3,723 2,915
(Gain) loss on:    
Sale of securities 1,149 0
Sale of loans (327) (503)
Early extinguishment of debt 0 (42)
Foreclosed real estate and other repossessed assets (5,820) (11,077)
Sale of other assets 17 (4,761)
Originations and purchases of loans held-for-sale (67,235) (152,350)
Proceeds from sale of loans held-for-sale 8,012 93,756
Net decrease (increase) in:    
Accrued interest receivable (5,474) (2,885)
Servicing assets 320 (1,088)
Other assets 287 13,154
Net increase (decrease) in:    
Accrued interest on deposits and borrowings 1,373 (238)
Accrued expenses and other liabilities 6,255 (27,173)
Net cash provided by operating activities 188,133 115,546
Purchases of:    
Investment securities available-for-sale (492,155) (1,120,589)
Investment securities held-to-maturity 0 (196,742)
FHLB stock (15,081) (122)
Equity securities (5,136) (4,234)
Maturities and redemptions of:    
Investment securities available-for-sale 219,907 102,045
Investment securities held-to-maturity 16,843 23,463
FHLB stock 2,098 62
Proceeds from sales of:    
Investment securities available-for-sale 202,133 0
Foreclosed real estate and other repossessed assets, including write-offs 45,409 38,219
Premises and equipment 38 4,762
Origination and purchase of loans, excluding loans held-for-sale (2,652,868) (2,144,528)
Principal repayment of loans 2,141,933 1,831,475
Additions to premises and equipment (11,609) (24,828)
Net cash used in investing activities (548,488) (1,491,017)
Net (decrease) increase in:    
Deposits (30,281) 290,105
Securities sold under agreements to repurchase 150,632 0
Subordinated capital notes 0 (36,041)
FHLB advances and other borrowings 273,068 (1,280)
Exercise of stock options and restricted units lapsed, net (1,713) (909)
Purchase of treasury stock (18,653) (64,110)
Dividends paid on common stock (30,463) (20,511)
Net cash provided by financing activities 342,590 167,254
Net change in cash, cash equivalents and restricted cash (17,765) (1,208,217)
Cash, cash equivalents and restricted cash at beginning of period 550,464 2,023,650
Cash, cash equivalents and restricted cash at end of period 532,699 815,433
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:    
Cash and due from banks 528,626 810,281
Money market investments 4,073 4,988
Restricted cash 0 164
Total cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 532,699 815,433
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:    
Interest paid 50,017 18,370
Income taxes paid 3,438 4,428
Operating lease liabilities paid 7,487 7,581
Mortgage loans held-for-sale securitized into mortgage-backed securities 69,964 80,428
Transfer from loans to foreclosed real estate and other repossessed assets 38,233 29,118
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio 6,471 18,571
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio 8,596 18,000
Financed sales of foreclosed real estate 488 1,092
Delinquent loans booked under the GNMA buy-back option 18,227 29,050
Conversion of debt security to equity security $ 376 $ 1,500