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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
OPERATING ACTIVITIES:          
Net income     $ 70,715 $ 72,593  
Adjustments to reconcile net income to net cash provided by operating activities:          
Net amortization on investment securities and low-income housing investments     4,176 3,753  
Net accretion and amortization on loans     (2,756) (3,026)  
Unrealized and realized losses on equity securities with readily determinable fair value     (26) 204  
Depreciation of premises and equipment     4,930 5,884  
Amortization of mortgage servicing rights     1,440 1,773  
Provision for expected credit loss expense $ 3,730 $ 1,573 36,635 14,504  
Provision for off-balance sheet exposures (190) 80 90 128  
Net gain on sale of mortgage loans held for sale (494) (785) (1,453) (4,704)  
Origination of mortgage loans held for sale (23,860) (32,856) (53,750) (195,006)  
Proceeds from sale of mortgage loans held for sale     53,794 226,191  
Net gain on sale of consumer loans held for sale     (8,880) (10,466)  
Origination of consumer loans held for sale     (756,714) (820,127)  
Proceeds from sale of consumer loans held for sale     761,497 831,802  
Writedowns of other real estate owned     158 158  
Deferred compensation expense - Class A Common Stock     844 944  
Stock-based awards and ESPP expense - Class A Common Stock     1,407 1,397  
Increase in cash surrender value of bank owned life insurance     (1,324) (1,852)  
Gain from death benefits in excess of cash surrender value of BOLI     (1,728)    
Net change in other assets and liabilities:          
Accrued interest receivable     (5,366) (1,225)  
Accrued interest payable     1,778 34  
Other assets     (21,085) 1,309  
Other liabilities     1,872 10,518  
Net cash provided by operating activities     86,254 134,786  
INVESTING ACTIVITIES:          
Net cash proceeds paid in acquisition     (40,970)    
Purchases of available-for-sale debt securities     (30,000) (244,820)  
Purchases of held-to-maturity debt securities     (25,000)    
Proceeds from calls, maturities and paydowns of equity and available-for-sale debt securities     67,571 65,269  
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities     10,736 11,703  
Net change in outstanding warehouse lines of credit     (54,472) 408,312  
Net change in other loans     (323,283) (212,312)  
Purchase of Federal Home Loan Bank stock     (22,274) 1,743  
Investments in low-income housing tax partnerships     10,221 (7,258)  
Net purchases of premises and equipment     (5,278) (2,624)  
Proceeds of principal and earnings from bank-owned life insurance     1,528    
Net cash used in investing activities     (411,221) 20,013  
FINANCING ACTIVITIES:          
Net change in deposits     34,059 (39,594)  
Net change in securities sold under agreements to repurchase and other short-term borrowings     (136,159) (81,591)  
Payments of Federal Home Loan Bank advances     (538,000) (25,000)  
Proceeds from Federal Home Loan Bank advances     908,000 20,000  
Repurchase of Class A Common Stock     (16,110) (12,164)  
Net proceeds from Class A Common Stock purchased through employee stock purchase plan     514 433  
Net proceeds from option exercises and equity awards vested - Class A Common Stock     (194) 40  
Cash dividends paid     (21,179) (19,501)  
Net cash (used in) provided by financing activities     230,931 (157,377)  
NET CHANGE IN CASH AND CASH EQUIVALENTS     (94,036) (2,578)  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD     313,689 756,971 $ 756,971
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 219,653 $ 754,393 219,653 754,393 $ 313,689
Cash paid during the period for:          
Interest     41,504 4,017  
Income taxes     17,279 14,614  
SUPPLEMENTAL NONCASH DISCLOSURES:          
Mortgage servicing rights capitalized     381 1,755  
New unfunded obligations in low-income-housing investments     27,000 16,100  
Right-of-use assets recorded     $ 3,480 $ 6,360