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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 302,864 $ 305,072 $ 281,025
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 20,501 22,289 24,965
Amortization of intangible assets 7,735 8,816 11,407
Provision for credit losses - expense (benefit) 60,940 27,696 (65,698)
Deferred income tax expense 6,105 54,216 118,323
Stock-based compensation 7,799 5,407 5,460
Gain on early extinguishment of debt (1,605) 0 0
Unrealized gain on derivative instruments (301) (1,098) (4,227)
Net gain on disposals or sales, and impairments of premises and equipment and other assets (3,514) (706) (32)
Net gain on sales of loans and loans held-for-sale valuation adjustments (1,572) (5,498) (14,791)
Net amortization of discounts, premiums, and deferred loan fees and costs 1,223 (7,853) (25,294)
Originations and purchases of loans held for sale (147,460) (214,962) (503,200)
Sales and repayments of loans held for sale 149,888 235,199 528,253
Amortization of broker placement fees 309 106 218
Net amortization of premiums and discounts on investment securities 4,967 3,435 26,549
(Increase) decrease in accrued interest receivable (5,437) (11,340) 7,701
Increase (decrease) in accrued interest payable 18,430 1,706 (2,776)
(Increase) decrease in other assets (16,619) (2,437) 24,344
(Decrease) increase in other liabilities (41,290) 20,437 (12,506)
Net cash provided by operating activities 362,963 440,485 399,721
Cash flows from investing activities:      
Net (disbursements) repayments on loans held for investment (758,232) (603,853) 599,097
Proceeds from sales of loans held for investment 7,736 62,168 81,458
Proceeds from sales of repossessed assets 53,870 46,281 55,867
Purchases of available-for-sale debt securities (5,458) (512,327) (3,447,921)
Proceeds from principal repayments and maturities of available-for-sale debt securities 549,644 626,802 1,445,873
Purchases of held-to-maturity debt securities 0 (289,784) 0
Proceeds from principal repayments and maturities of held-to-maturity debt securities 85,988 32,153 12,677
Additions to premises and equipment (22,599) (20,459) (13,349)
Proceeds from sales of premises and equipment and other assets 4,475 1,196 832
Net redemptions (purchases) of other investments securities 5,643 (23,637) 5,322
Proceeds from the settlement of insurance claims - investing activities 483 0 550
Net cash paid from business combination 0 0 (3,381)
Net cash used in investing activities (78,450) (681,460) (1,262,975)
Cash flows from financing activities:      
Net increase (decrease) in deposits 470,981 (1,706,118) 2,472,579
Net (repayments) proceeds of short-term borrowings (550,133) 550,133 0
Repayments of long-term borrowings (19,795) (500,000) (240,000)
Proceeds from long-term borrowings 300,000 200,000 0
Repurchase of outstanding common stock (203,241) (277,769) (216,522)
Dividends paid on common stock (99,666) (87,824) (65,021)
Dividends paid on preferred stock 0 0 (2,453)
Redemption of preferred stock - Series A through E 0 0 (36,104)
Net cash (used in) provided by financing activities (101,854) (1,821,578) 1,912,479
Net increase (decrease) in cash and cash equivalents 182,659 (2,062,553) 1,049,225
Cash and cash equivalents at beginning of year 480,505 2,543,058 1,493,833
Cash and cash equivalents at end of period 663,164 480,505 2,543,058
Cash and cash equivalents include:      
Cash and due from banks 661,925 478,480 2,540,376
Money market investments 1,239 2,025 2,682
Cash and Cash Equivalents, at Carrying Value, Total $ 663,164 $ 480,505 $ 2,543,058