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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 59,331 $ 78,638
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (620) (18,356)
Reversal of provision for credit losses (2,836) (24,335)
Stock-based compensation expense 2,797 2,762
Amortization of intangible assets 2,079 2,352
Origination of mortgage loans held for sale (15,190) (74,325)
Proceeds from sale of mortgage loans held for sale 17,259 79,759
Bank owned life insurance income (3,182) (2,020)
Valuation adjustment on interest rate swaps (67) (296)
Gain on sale of mortgage loans held for sale, net (593) (3,138)
Gain on sale of investment securities, net 0 (29)
Gain on sale of assets held for sale (403) (1,691)
Other 3,865 11,332
Net cash provided by operating activities 62,440 50,653
Cash flows from investing activities:    
Loan originations and purchases, net of payments (176,700) 555,784
Maturities and repayments of investment securities available for sale 132,854 200,242
Maturities and repayments of investment securities held to maturity 21,620 423
Purchase of investment securities available for sale (742,801) (421,566)
Purchase of investment securities held to maturity (412,835) (66,821)
Purchase of premises and equipment (2,295) (2,148)
Purchases of bank owned life insurance (105) (104)
Proceeds from bank owned life insurance death benefit 2,114 0
Purchases of Federal Home Loan Bank stock (985) (1,272)
Proceeds from sales of investment securities available for sale 0 1,248
Proceeds from redemption of Federal Home Loan Bank stock 2 0
Proceeds from sales of assets held for sale 2,102 5,642
Proceeds from sales of premises and equipment 106 12
Capital contributions to low-income housing tax credit partnerships (9,245) (23,349)
Cash received from return of New Market Tax Credit equity method investment 0 9,642
Net cash (used) provided by investing activities (1,186,168) 257,733
Cash flows from financing activities:    
Net (decrease) increase in deposits (156,555) 617,568
Federal Home Loan Bank advances 50 10
Repayment of Federal Home Loan Bank advances (50) (10)
Common stock cash dividends paid (22,119) (21,552)
Net (decrease) increase in securities sold under agreement to repurchase (10,390) 8,413
Repurchase of common stock (3,176) (21,398)
Net cash (used) provided by financing activities (192,240) 583,031
Net (decrease) increase in cash and cash equivalents (1,315,968) 891,417
Cash and cash equivalents at beginning of period 1,723,292 743,322
Cash and cash equivalents at end of period 407,324 1,634,739
Supplemental disclosures of cash flow information:    
Cash paid for interest 4,939 5,162
Cash paid for income taxes, net of refunds 1,987 10,944
Transfer of investment securities available for sale to held to maturity 0 244,778
Investment in LIHTC partnership and related funding commitment 10,728 17,458
Right of use assets obtained in exchange for new operating lease liabilities 2,869 12,134
Transfers of premises and equipment classified as held for sale to prepaid expenses and other assets from premises and equipment, net 910 3,556
Loans received from return of New Market Tax Credit equity method investment 0 15,596
Transfer of deposits to deposits held for sale $ 22,771 $ 0