XML 22 R9.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:                        
Net income before noncontrolling interest $ 35,156,000 $ 28,370,000 $ 61,694,000 $ 105,323,000 $ 83,086,000 $ 108,419,000 $ 150,404,000 $ 119,673,000 $ 132,131,000 $ 184,512,000 $ 145,458,000 $ 154,102,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                        
Depreciation and amortization 14,689,000 14,566,000 15,322,000 29,457,000 34,390,000 30,753,000 43,832,000 49,506,000 47,193,000 57,765,000 64,955,000 61,601,000
Provision for credit loss 7,758,000 16,758,000 329,000 37,502,000 58,718,000 40,927,000 49,429,000 81,235,000 48,790,000 58,101,000 109,242,000 56,792,000
Provision for (reversal of) deferred taxes 3,535,000 2,126,000 8,087,000 8,058,000 1,886,000 13,097,000 12,720,000 1,177,000 17,417,000 16,166,000 (7,140,000) 15,793,000
Originations of loans held for sale (631,905,000) (398,798,000) (385,558,000) (933,786,000) (608,628,000) (555,397,000) (1,426,973,000) (941,502,000) (769,672,000) (2,034,977,000) (1,208,684,000) (985,330,000)
Proceeds from sales of loans held for sale 626,336,000 402,870,000 562,689,000 968,998,000 604,363,000 723,942,000 1,468,162,000 870,132,000 898,442,000 2,036,084,000 1,139,881,000 1,059,361,000
Net change in loans held for sale 13,829,000 (84,000) 8,805,000 17,924,000 652,000 8,834,000 18,062,000 5,456,000 12,568,000 18,127,000 25,922,000 12,819,000
Fair value adjustment of foreclosed real estate                   0 0 301,000
Net realized (gain) on securities available for sale 0               (161,000) 0 0 (154,000)
Net realized (gain) loss on loans held for sale 31,000   4,365,000 (1,370,000) (110,000) 4,065,000 (3,091,000) (235,000) 3,933,000 (5,920,000) (268,000) 3,694,000
Net realized loss on premise, furniture, and equipment                 45,000 0 65,000 55,000
Net realized (gain) on trademarks 0 (10,000,000) (50,000,000) 0 (10,000,000) (50,000,000) 0 (10,000,000) (50,000,000) 0 (10,000,000) (50,000,000)
Net realized (gain) on other (2,871,000) (502,000) (23,000) (3,165,000) 272,000 43,000 (6,119,000) (91,000) (434,000) (6,749,000) (1,832,000) (1,956,000)
Change in bank-owned life insurance value                   (2,751,000) (1,497,000) (2,434,000)
Impairment on rental equipment   24,000 0 2,013,000 2,774,000 0 2,013,000 24,000 0 2,013,000 24,000 0
Impairment of intangibles                 670,000 0 0 670,000
Net change in accrued interest receivable (3,798,000) (2,191,000) (987,000) (7,012,000) (4,455,000) (2,862,000) (8,473,000) (4,353,000) (564,000) (8,103,000) (5,303,000) (1,725,000)
Net change in other assets (14,712,000) 16,695,000 (24,272,000) (14,007,000) 12,924,000 (21,653,000) (13,989,000) 21,215,000 (9,058,000) (11,793,000) 17,244,000 (32,923,000)
Net change in accrued expenses and other liabilities (19,749,000) (24,209,000) (45,308,000) 16,671,000 14,630,000 (8,400,000) 51,942,000 6,627,000 (36,558,000) 176,044,000 48,776,000 (10,621,000)
Stock compensation 1,234,000 3,271,000 3,430,000 5,904,000 5,829,000 5,524,000 7,770,000 8,399,000 7,765,000 10,286,000 11,070,000 10,004,000
Net cash provided by operating activities 29,533,000 48,896,000 157,512,000 232,510,000 196,331,000 295,832,000 345,689,000 207,263,000 300,327,000 488,805,000 327,913,000 290,049,000
Cash flows from investing activities:                        
Purchases of securities available for sale 0   (20,894,000)   0 (470,067,000) 0 (150,751,000) (689,515,000) (3,465,000) (156,885,000) (907,361,000)
Proceeds from sales of securities available for sale 0   200,000   0     0 244,305,000 0 0 265,951,000
Proceeds from maturities of and principal collected on securities available for sale 41,936,000 49,069,000 91,297,000 89,476,000 89,162,000 184,107,000 141,801,000 127,071,000 264,808,000 201,730,000 177,296,000 324,234,000
Proceeds from maturities of and principal collected on securities held to maturity 1,093,000 1,058,000 5,409,000 1,811,000 2,822,000 8,937,000 2,430,000 3,758,000 12,189,000 3,317,000 4,835,000 14,281,000
Purchases of Federal Reserve Bank and Federal Home Loan Bank stock (91,130,000) (57,760,000) (800,000) (183,010,000) (120,160,000) (103,573,000) (276,025,000) (206,104,000) (134,293,000) (406,390,000) (330,144,000) (173,653,000)
Redemption of Federal Reserve Bank and Federal Home Loan Bank stock 95,647,000 57,760,000 800,000 185,377,000 119,586,000 103,160,000 279,787,000 204,026,000 133,880,000 398,587,000 330,746,000 173,240,000
Purchases of loans and leases (89,390,000) (67,649,000) (57,713,000) (163,091,000) (187,834,000) (88,913,000) (229,912,000) (197,549,000) (108,570,000) (298,262,000) (215,266,000) (115,353,000)
Proceeds from sales of loans and leases     30,235,000     45,784,000     45,784,000 0 0 123,241,000
Net change in loans and leases 91,806,000 211,289,000 (145,696,000) 238,799,000 178,693,000 (74,449,000) 119,964,000 (61,098,000) 22,155,000 102,272,000 (332,275,000) 337,396,000
Purchases of premises, furniture, and equipment (1,885,000) (1,989,000) (1,949,000) (3,592,000) (3,428,000) (3,718,000) (5,784,000) (4,973,000) (5,860,000) (10,141,000) (8,623,000) (8,177,000)
Proceeds from sales of premises, furniture, and equipment     35,000     35,000     35,000 0 0 35,000
Purchases of rental equipment (106,160,000) (164,245,000) (103,643,000) (173,005,000) (238,999,000) (196,043,000) (221,681,000) (373,063,000) (270,262,000) (266,613,000) (441,047,000) (424,919,000)
Proceeds from sales of rental equipment 3,373,000 1,495,000 4,999,000 4,951,000 6,736,000 6,811,000 7,302,000 9,373,000 8,236,000 9,006,000 14,998,000 9,372,000
Net change in rental equipment (79,000) (109,000) (1,841,000) 188,000 (153,000) (1,567,000) 408,000 (279,000) (1,879,000) 565,000 (236,000) (5,772,000)
Proceeds from sales of foreclosed real estate and repossessed assets   1,000 1,659,000 0 1,000 1,715,000 0 1,000 1,814,000 0 1,000 1,824,000
Proceeds from death benefit of bank-owned life insurance                   0 1,040,000 0
Proceeds from sale of trademarks   10,000,000 50,000,000 0 10,000,000 50,000,000 0 10,000,000 50,000,000 0 10,000,000 50,000,000
Proceeds from sale of other assets 4,077,000 0   4,091,000 0 460,000 6,466,000 0 2,925,000 6,465,000 0 3,550,000
Net cash (used in) investing activities (50,712,000) 38,920,000 (147,902,000) 1,995,000 (143,574,000) (537,321,000) (175,244,000) (639,588,000) (424,248,000) (262,929,000) (945,560,000) (332,111,000)
Cash flows from financing activities:                        
Net change in deposits 346,873,000 (76,905,000) 1,010,598,000 (220,838,000) 36,659,000 314,915,000 (157,666,000) 440,939,000 195,828,000 (714,097,000) 723,145,000 351,066,000
Net change in short-term borrowings (13,000,000) 0   18,000,000 43,000,000   (13,000,000) 230,000,000   364,000,000 13,000,000 0
Redemption of long-term borrowings                 (75,000,000) 0 0 (75,000,000)
Proceeds from long-term borrowings                   0 0 20,000,000
Principal payments on capital lease obligations     (7,000)     (74,000)     (75,000) 0 0 (75,000)
Principal payments on other liabilities (284,000) (573,000) (598,000) (550,000) (1,026,000) (1,463,000) (621,000) (1,416,000) (2,163,000) (621,000) (1,747,000) (2,751,000)
Payment of debt issuance costs   (504,000) 0 0 (511,000) 0 0 (511,000) 0 0 (511,000) 0
Dividends paid on common stock (1,299,000) (1,402,000) (1,521,000) (2,566,000) (2,788,000) (3,004,000) (3,824,000) (4,115,000) (4,469,000) (5,067,000) (5,426,000) (5,921,000)
Issuance of common stock due to restricted stock 1,000 1,000 0 3,000 1,000 0 3,000 1,000 0 3,000 1,000 0
Issuance of common stock due to ESOP     2,886,000     2,886,000     2,886,000 0 0 2,886,000
Repurchases of common stock (15,918,000) (26,932,000) (104,458,000) (56,364,000) (82,281,000) (146,653,000) (71,513,000) (103,996,000) (146,763,000) (86,853,000) (120,437,000) (168,235,000)
Investment by (distributions to) noncontrolling interest 238,000 (757,000) (495,000) 79,000 (1,698,000) (1,666,000) (219,000) (2,286,000) (2,771,000) (565,000) (3,167,000) (4,153,000)
Net cash provided by (used in) financing activities 316,611,000 (107,072,000) 906,405,000 (262,236,000) (8,644,000) 164,941,000 (246,840,000) 558,616,000 (32,527,000) (443,200,000) 604,858,000 117,817,000
Effect of exchange rate changes on cash 618,000 387,000 66,000 39,000 447,000 209,000 (259,000) 942,000 (311,000) 81,000 331,000 (1,736,000)
Net change in cash and cash equivalents 296,050,000 (18,869,000) 916,081,000 (27,692,000) 44,560,000 (76,339,000) (76,654,000) 127,233,000 (156,759,000) (217,243,000) (12,458,000) 74,019,000
Cash and cash equivalents at beginning of fiscal year 375,580,000 388,038,000 314,019,000 375,580,000 388,038,000 314,019,000 375,580,000 388,038,000 314,019,000 375,580,000 388,038,000 314,019,000
Cash and cash equivalents at end of fiscal period $ 671,630,000 $ 369,169,000 $ 1,230,100,000 $ 347,888,000 $ 432,598,000 $ 237,680,000 $ 298,926,000 $ 515,271,000 $ 157,260,000 158,337,000 375,580,000 388,038,000
Supplemental disclosure of cash flow information:                        
Interest                   20,909,000 10,819,000 5,259,000
Income taxes                   19,633,000 14,056,000 13,940,000
Franchise and other taxes                   726,000 1,359,000 791,000
Supplemental schedule of non-cash investing activities:                        
Held for sale to loans and leases                   30,864,000 158,000 115,934,000
Loans and leases to held for sale                   597,177,000 13,421,000 169,045,000
Loans and leases to rental equipment                   4,847,000 3,122,000 3,893,000
Loans and leases to foreclosed real estate and repossessed assets                   0 0 49,000
Rental equipment to loan and leases                   225,870,000 377,250,000 400,148,000
Recognition of operating lease ROU assets, net of measurements                   654,000 0 117,000
Retirement of treasury stock                   $ 6,181,000 $ 6,943,000 $ 0