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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 281,025 $ 102,273 $ 167,377
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 24,965 20,068 17,592
Amortization of intangible assets 11,407 5,912 3,086
Provision for credit losses - (benefit) expense (65,698) 170,985 39,813
Deferred income tax expense (benefit) 118,323 (4,371) 55,009
Stock-based compensation 5,460 5,117 3,949
Gain on early extinguishment of debt 0 (94) 0
(Gain) loss on sales of investment securities 0 (13,198) 497
Unrealized gain on derivative instruments (4,227) (5,635) (2,934)
Net (gain) loss on disposals or sales of premises and equipment and other assets (32) (215) 242
Net gain on sale of loans (14,791) (13,273) (10,446)
Net amortization/accretion of discounts, premiums, and deferred loan fees and costs (25,294) (8,602) (8,117)
Originations and purchases of loans held for sale (503,200) (648,052) (362,612)
Sales and repayments of loans held for sale 528,253 659,349 360,572
Amortization of broker placement fees 218 537 732
Net amortization/accretion of premiums and discounts on investment securities 26,549 19,410 2,483
Decrease (increase) in accrued interest receivable 7,701 6,419 (1,971)
(Decrease) increase in accrued interest payable (2,776) (2,990) 1,081
Decrease (increase) in other assets 24,344 (5,018) 32,521
(Decrease) increase in other liabilities (12,506) 9,116 (4,590)
Net cash provided by operating activities 399,721 297,738 294,284
Cash flows from investing activities:      
Net repayments (disbursement) on loans held for investment 599,097 (335,152) (341,870)
Proceeds from sales of loans held for investment 81,458 6,788 83,428
Proceeds from sales of repossessed assets 55,867 35,270 60,124
Proceeds from sales of available-for-sale securities 0 1,195,250 0
Purchases of available-for-sale securities (3,447,921) (3,820,148) (765,432)
Proceeds from principal repayments and maturities of available-for-sale securities 1,445,873 1,277,762 628,675
Proceeds from principal repayments and maturities of held-to-maturity securities 12,677 6,431 6,138
Additions to premises and equipment (13,349) (16,070) (22,478)
Proceeds from sale of premises and equipment and other assets 832 497 1,568
Net redemptions of other investment securities 5,322 3,881 6,292
Proceeds from the settlement of insurance claims - investing activities 550 0 587
Net (payments) cash acquired in acquisition (3,381) 406,626 0
Net cash used in investing activities (1,262,975) (1,238,865) (342,968)
Cash flows from financing activities:      
Net increase in deposits 2,472,579 1,767,441 361,657
Net decrease in short-term borrowings 0 (35,000) (15,086)
Repayments of long-term borrowings (240,000) (95,282) (205,000)
Proceeds from long-term reverse repurchase agreements 0 200,000 0
Repurchase of outstanding common stock (216,522) (206) (1,959)
Dividends paid on common stock (65,021) (43,416) (30,356)
Dividends paid on preferred stock (2,453) (2,676) (2,676)
Redemption of preferred stock - Series A through E (36,104) 0 0
Net cash provided by (used in) financing activities 1,912,479 1,790,861 106,580
Net increase (decrease) in cash and cash equivalents 1,049,225 849,734 57,896
Cash and cash equivalents at beginning of year 1,493,833 644,099 586,203
Cash and cash equivalents at end of year 2,543,058 1,493,833 644,099
Cash and cash equivalents include:      
Cash and due from banks 2,540,376 1,433,261 546,391
Money market instruments 2,682 60,572 97,708
Cash and Cash Equivalents, at Carrying Value, Total $ 2,543,058 $ 1,493,833 $ 644,099