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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 41,994 $ 53,246
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 3,125 (4,197)
Depreciation and amortization 4,141 3,419
Net amortization on securities 4,831 3,570
Amortization of investments in tax credit funds 951 775
Gain on sale of securities, net 0 (1,673)
Deferred income tax expense 1,611 3,463
Stock-based compensation expense 1,579 1,085
Originations of mortgage loans held for sale (156,834) (259,460)
Proceeds from mortgage loans held for sale 164,849 322,028
Gain on mortgage loans held for sale, including origination of mortgage servicing rights (5,305) (11,222)
Mortgage servicing rights valuation adjustment (4,443) 772
Increase in the cash surrender value of life insurance (390) (406)
Net losses on sales and write-downs of other real estate owned 279 80
Other operating activities, net (1,701) (3,538)
Net cash provided by operating activities 54,687 107,942
Cash flows from investing activities:    
Purchases of securities available for sale (557,069) (96,563)
Maturities and pay downs of securities available for sale 81,004 72,962
Proceeds from sales and calls of securities available for sale 8,552 42,023
Maturities, pay downs and calls of securities held to maturity 17,750 283
Pay downs of securities carried at fair value 275 265
Net (purchases) sales of non-marketable equity securities held in other financial institutions (31,562) 21,225
Originations of mortgage warehouse loans (5,128,940) (9,387,169)
Proceeds from pay-offs of mortgage warehouse loans 5,224,131 9,605,914
Net (increase) decrease in loans, excluding mortgage warehouse and loans held for sale (374,841)  
Net (increase) decrease in loans, excluding mortgage warehouse and loans held for sale   98,787
Return of capital and other distributions from limited partnership investments 5,276 0
Capital calls on limited partnership investments (97) (225)
Purchase of low-income housing tax credit investments 0 (383)
Purchases of premises and equipment (4,321) (1,399)
Proceeds from sales of premises and equipment 0 67
Proceeds from sales of other real estate owned 0 1,396
Net cash (used in) provided by investing activities (759,842) 357,183
Cash flows from financing activities:    
Net (decrease) increase in deposits (267,535) 277,037
Repayments on long-term FHLB advances (128) (13,591)
Proceeds from short-term FHLB advances 1,825,000 5,726,000
Repayments on short-term FHLB advances (1,225,000) (6,376,000)
Net (decrease) in securities sold under agreements to repurchase (2,390) (4,549)
Dividends paid (6,655) (5,394)
Cash received from exercise of stock options 165 146
Common stock repurchased 0 (1,256)
Net cash provided by (used in) financing activities 323,457 (397,607)
Net (decrease) increase in cash and cash equivalents (381,698) 67,518
Cash and cash equivalents at beginning of period 705,618 377,214
Cash and cash equivalents at end of period 323,920 444,732
Interest paid 12,301 13,907
Income taxes paid 950 23,570
Significant non-cash transactions:    
Real estate acquired in settlement of loans 665 3,889
Decrease in GNMA repurchase obligations (12,702) (2,346)
Recognition of operating right-of-use assets 7,554 2,855
Recognition of operating lease liabilities $ 7,757 $ 2,855