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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net income $ 221,904 $ 258,257
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 24,523 (60,646)
Depreciation, amortization and accretion, net 45,187 51,485
Stock-based compensation expense 14,889 6,194
Amortization of premium on securities, net 1,475 3,797
Accretion of discount and deferred fees on loans, net (13,960) (47,975)
Mortgage servicing rights fair value changes, net (39,658) 6,203
Non-designated derivatives fair value changes, net (236) (241)
Originations and purchases of mortgage loans held-for-sale (1,716,502) (3,945,978)
Early buy-out exercises of mortgage loans held-for-sale guaranteed by U.S. Government Agencies, net of subsequent paydowns or payoffs 43,288 (6,997)
Proceeds from sales of mortgage loans held-for-sale 1,916,314 4,357,804
Bank owned life insurance (“BOLI”) loss (income) 836 (2,466)
Decrease (increase) in trading securities, net 51 (1,996)
Decrease (increase) in brokerage customer receivables, net 4,541 (5,657)
Gains on mortgage loans sold (31,137) (132,012)
Losses (gains) on investment securities, net 10,579 (2,439)
Losses (gains) on sales of premises and equipment, net, and sale of related deposit liabilities 2,126 (3,782)
Gains on sales and fair value adjustments of other real estate owned, net (868) (332)
Decrease in accrued interest receivable and other assets, net 130,148 143,200
Increase in accrued interest payable and other liabilities, net 209,824 32,344
Net Cash Provided by Operating Activities 823,324 648,763
Investing Activities:    
Proceeds from maturities and calls of available-for-sale securities 208,534 908,160
Proceeds from maturities and calls of held-to-maturity securities 124,986 137,273
Proceeds from sales of available-for-sale securities 0 2,376
Proceeds from sales of equity securities with readily determinable fair value 18,753 6,259
Proceeds from sales and capital distributions of equity securities without readily determinable fair value 529 1,137
Purchases of available-for-sale securities (1,224,316) (290,583)
Purchases of held-to-maturity securities (596,897) (2,257,847)
Purchases of equity securities with readily determinable fair value (27,805) 0
Purchases of equity securities without readily determinable fair value (8,480) (3,359)
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock, net (760) (1,037)
Distributions from investments in partnerships, net 3,196 44
Proceeds from sales of other real estate owned 3,669 5,314
Decrease in securities purchased under resale agreements with terms exceeding three months, net 225,000 0
Decrease in interest-bearing deposits with banks, net 2,105,160 96,948
Increase in loans, net (2,202,286) (795,270)
Redemption of BOLI 960 0
Purchases of premises and equipment, net (23,366) (12,113)
Net Cash Used for Investing Activities (1,393,123) (2,202,698)
Financing Activities:    
Increase in deposit accounts, net 497,735 1,715,840
Decrease in other borrowings, net (5,059) (9,230)
(Decrease) increase in Federal Home Loan Bank advances, net (75,000) 12,629
Proceeds from common stock offering, net 286,315 0
Cash payments to settle contingent consideration liabilities recognized in business combinations 0 (16,583)
Issuance of common shares resulting from the exercise of stock options, employee stock purchase plan and conversion of common stock warrants 6,464 13,115
Dividends paid (52,914) (49,301)
Net Cash Provided by Financing Activities 657,541 1,666,470
Net Increase in Cash and Cash Equivalents 87,742 112,535
Cash and Cash Equivalents at Beginning of Period 411,205 322,474
Cash and Cash Equivalents at End of Period $ 498,947 $ 435,009