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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
OPERATING ACTIVITIES:          
Net income     $ 49,144 $ 52,697  
Adjustments to reconcile net income to net cash provided by operating activities:          
Net amortization on investment securities and low-income housing investments     2,834 1,496  
Net accretion and amortization on loans     (1,480) (2,220)  
Unrealized and realized losses on equity securities with readily determinable fair value     (10) 190  
Depreciation of premises and equipment     3,269 4,029  
Amortization of mortgage servicing rights     974 1,248  
Provision for expected credit loss expense $ 6,139 $ 3,705 32,905 12,931  
Provision for off-balance sheet exposures 70 60 280 48  
Net gain on sale of mortgage loans held for sale (539) (1,459) (959) (3,919)  
Origination of mortgage loans held for sale (13,948) (61,489) (29,890) (162,150)  
Proceeds from sale of mortgage loans held for sale     28,113 186,971  
Net gain on sale of consumer loans held for sale     (5,543) (6,265)  
Origination of consumer loans held for sale     (469,626) (527,996)  
Proceeds from sale of consumer loans held for sale     471,500 525,709  
Writedowns of other real estate owned     105 105  
Deferred compensation expense - Class A Common Stock     685 568  
Stock-based awards and ESPP expense - Class A Common Stock     1,060 1,042  
Increase in cash surrender value of bank owned life insurance (689) (623) (1,324) (1,235)  
Gain from death benefits in excess of cash surrender value of BOLI     (1,728)    
Net change in other assets and liabilities:          
Accrued interest receivable     (2,585) 5  
Accrued interest payable     629 3  
Other assets     (9,184) 1,718  
Other liabilities     (4,276) 9,602  
Net cash provided by operating activities     64,893 94,577  
INVESTING ACTIVITIES:          
Net cash proceeds paid in acquisition     (40,970)    
Purchases of available-for-sale debt securities     (40,000) (189,820)  
Purchases of held-to-maturity debt securities     (25,000)    
Proceeds from calls, maturities and paydowns of equity and available-for-sale debt securities     73,554 33,340  
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities     10,420 11,330  
Net change in outstanding warehouse lines of credit     (136,000) 253,872  
Net change in other loans     (213,857) (130,331)  
Purchase of Federal Home Loan Bank stock     (20,249)    
Investments in low-income housing tax partnerships     7,389 (5,509)  
Net purchases of premises and equipment     (3,531) (1,842)  
Proceeds of principal and earnings from bank-owned life insurance     2,218    
Net cash used in investing activities     (386,026) (28,960)  
FINANCING ACTIVITIES:          
Net change in deposits     (30,242) (13,472)  
Net change in securities sold under agreements to repurchase and other short-term borrowings     (124,863) 12,348  
Payments of Federal Home Loan Bank advances     (88,000) (25,000)  
Proceeds from Federal Home Loan Bank advances     513,000 20,000  
Repurchase of Class A Common Stock     (6,714) (8,836)  
Net proceeds from Class A Common Stock purchased through employee stock purchase plan       278  
Net proceeds from Class A Common Stock purchased through employee stock purchase plan     341    
Net proceeds from option exercises and equity awards vested - Class A Common Stock     (184) 42  
Cash dividends paid     (13,927) (12,805)  
Net cash (used in) provided by financing activities     249,411 (27,445)  
NET CHANGE IN CASH AND CASH EQUIVALENTS     (71,722) 38,172  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD     313,689 756,971 $ 756,971
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 241,967 $ 795,143 241,967 795,143 $ 313,689
Cash paid during the period for:          
Interest     21,610 2,028  
Income taxes     17,124 8,677  
SUPPLEMENTAL NONCASH DISCLOSURES:          
Mortgage servicing rights capitalized     200 1,459  
New unfunded obligations in low-income-housing investments       10,100  
Right-of-use assets recorded     $ 1,050 $ 4,956