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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 62,222 $ 70,375
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 12,846 14,018
Depreciation and amortization 12,266 13,333
Net amortization on securities 3,647 5,309
Accretion of net premium/discount on purchased loans (10) (2,067)
Amortization of investments in tax credit funds 1,316 1,368
Loss on sale of securities, net 182 7,029
Deferred income (benefit) tax expense (1,194) 14,499
Stock-based compensation expense 5,953 3,886
Originations of mortgage loans held for sale (151,535) (148,866)
Proceeds from mortgage loans held for sale 144,682 127,574
Gain on mortgage loans held for sale and, for the nine months ended September 30, 2023, origination of MSR (3,836) (3,036)
MSR valuation adjustment (450) 485
Gain on sale of MSR (410) 0
Net (gain) loss on disposals of premises and equipment (828) 2
Increase in the cash surrender value of life insurance (697) (648)
Gain on equity securities without a readily determinable fair value (5,188) (10,096)
Net losses on sales and write-downs of other real estate owned 11 1
Net change in operating leases 1,372 (793)
Increase in other assets (8,942) (8,718)
Increase in other liabilities 7,199 16,820
Net cash provided by operating activities 78,606 100,475
Cash flows from investing activities:    
Purchases of securities available for sale (53,840) (751)
Maturities and pay downs of securities available for sale 126,687 107,679
Proceeds from sales and calls of securities available for sale 54,984 214,302
Maturities, pay downs and calls of securities held to maturity 522 486
Pay downs of securities carried at fair value 299 285
Redemption of non-marketable equity securities held in other financial institutions [1] 10,680 0
Purchase of non-marketable equity securities held in other financial institutions [1] (16,880) 0
Net sales (purchases) of non-marketable equity securities held in other financial institutions [1] (6,200) 15,025
Originations of mortgage warehouse loans (7,224,096) (5,048,595)
Proceeds from pay-offs of mortgage warehouse loans 7,058,874 5,047,169
Net increase in loans, excluding mortgage warehouse and loans held for sale (133,143) (449,804)
Proceeds from sale of MSR 15,885 0
Return of capital and other distributions from limited partnership investments 296 1,591
Capital calls on limited partnership investments (980) (2,156)
Purchase of low-income housing tax credit investments (83) (538)
Purchases of premises and equipment (16,602) (17,514)
Proceeds from sales of premises and equipment 3,572 49
Proceeds from sales of other real estate owned 1,130 0
Net cash used in investing activities (172,695) (132,772)
Cash flows from financing activities:    
Net increase in deposits 235,443 598,786
Repayments of long-term FHLB advances (205) (199)
Proceeds from short-term FHLB advances 1,685,000 5,890,000
Repayments of short-term FHLB advances (1,735,000) (6,440,000)
Repurchase of subordinated debentures (34,599) (4,729)
Repayments of other short-term borrowings 0 (30,000)
Net decrease in securities sold under agreements to repurchase (2,947) (22,250)
Dividends paid (14,067) (13,912)
Cash received from exercise of stock options 1,214 907
Net cash provided by (used in) financing activities 134,839 (21,397)
Net increase (decrease) in cash and cash equivalents 40,750 (53,694)
Cash and cash equivalents at beginning of period 280,441 358,972
Cash and cash equivalents at end of period 321,191 305,278
Interest paid 199,497 151,130
Income taxes paid 24,169 483
Significant non-cash transactions:    
Real estate acquired in settlement of loans 3,576 3,243
Transfers from loans held for sale to loans held for investment [1] 16,095 0
Decrease in Government National Mortgage Association (“GNMA”) repurchase obligation 0 (24,569)
Recognition of operating right-of-use assets 11,456 16,225
Recognition of operating lease liabilities $ 12,613 $ 16,187
[1] No change was made to the prior period presentation due to immateriality.