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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 305,072 $ 281,025 $ 102,273
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 22,289 24,965 20,068
Amortization of intangible assets 8,816 11,407 5,912
Provision for credit losses - expense (benefit) 27,696 (65,698) 170,985
Deferred income tax expense (benefit) 54,216 118,323 (4,371)
Stock-based compensation 5,407 5,460 5,117
Gain on early extinguishment of debt 0 0 (94)
Gain on sales of investment securities 0 0 (13,198)
Unrealized gain on derivative instruments (1,098) (4,227) (5,635)
Net gain on disposals, sales and impairments of premises and equipment and other assets (706) (32) (215)
Net gain on sales of loans and valuation adjustments (5,498) (14,791) (13,273)
Net amortization of discounts, premiums, and deferred loan fees and costs (7,853) (25,294) (8,602)
Originations and purchases of loans held for sale (214,962) (503,200) (648,052)
Sales and repayments of loans held for sale 235,199 528,253 659,349
Amortization of broker placement fees 106 218 537
Net amortization of premiums and discounts on investment securities 3,435 26,549 19,410
(Increase) decrease in accrued interest receivable (11,340) 7,701 6,419
Increase (decrease) in accrued interest payable 1,706 (2,776) (2,990)
(Increase) decrease in other assets (2,437) 24,344 (5,018)
Increase (decrease) in other liabilities 20,437 (12,506) 9,116
Net cash provided by operating activities 440,485 399,721 297,738
Cash flows from investing activities:      
Net (disbursements) repayments on loans held for investment (603,853) 599,097 (335,152)
Proceeds from sales of loans held for investment 62,168 81,458 6,788
Proceeds from sales of repossessed assets 46,281 55,867 35,270
Proceeds from sales of available-for-sale securities 0 0 1,195,250
Purchases of available-for-sale securities (512,327) (3,447,921) (3,820,148)
Proceeds from principal repayments and maturities of available-for-sale debt securities 626,802 1,445,873 1,277,762
Purchases of held-to-maturity investment securities (289,784) 0 0
Proceeds from principal repayments and maturities of held-to-maturity securities 32,153 12,677 6,431
Additions to premises and equipment (20,459) (13,349) (16,070)
Proceeds from sales of premises and equipment and other assets 1,196 832 497
Net (purchases) redemptions of other investments securities (23,637) 5,322 3,881
Proceeds from the settlement of insurance claims - investing activities 0 550 0
Net (payments) cash acquired in acquisition 0 (3,381) 406,626
Net cash used in investing activities (681,460) (1,262,975) (1,238,865)
Cash flows from financing activities:      
Net (decrease) increase in deposits (1,706,118) 2,472,579 1,767,441
Net proceeds from short-term borrowings 550,133 0 (35,000)
Repayments of long-term borrowings (500,000) (240,000) (95,282)
Proceeds from long-term borrowings 200,000 0 0
Proceeds from long-term reverse repurchase agreements 0 0 200,000
Repurchase of outstanding common stock (277,769) (216,522) (206)
Dividends paid on common stock (87,824) (65,021) (43,416)
Dividends paid on preferred stock 0 (2,453) (2,676)
Redemption of preferred stock - Series A through E 0 (36,104) 0
Net cash (used in) provided by financing activities (1,821,578) 1,912,479 1,790,861
Net (decrease) increase in cash and cash equivalents (2,062,553) 1,049,225 849,734
Cash and cash equivalents at beginning of year 2,543,058 1,493,833 644,099
Cash and cash equivalents at end of year 480,505 2,543,058 1,493,833
Cash and cash equivalents include:      
Cash and due from banks 478,480 2,540,376 1,433,261
Money market instruments 2,025 2,682 60,572
Cash and Cash Equivalents, at Carrying Value, Total $ 480,505 $ 2,543,058 $ 1,493,833