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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 298,724 $ 302,864 $ 305,072
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 18,580 20,501 22,289
Amortization of intangible assets 6,416 7,735 8,816
Provision for credit losses 59,921 60,940 27,696
Deferred income tax expense 14,131 6,105 54,216
Stock-based compensation 8,706 7,799 5,407
Gain on early extinguishment of debt 0 (1,605) 0
Unrealized gain on derivative instruments (537) (301) (1,098)
Net gain on disposals or sales, and impairments of premises and equipment and other assets (103) (3,514) (706)
Net gain on sales of loans and loans held-for-sale valuation adjustments (3,426) (1,572) (5,498)
Net amortization of discounts, premiums, and deferred loan fees and costs 344 1,223 (7,853)
Originations and purchases of loans held for sale (165,291) (147,460) (214,962)
Sales and repayments of loans held for sale 160,593 149,888 235,199
Amortization of broker placement fees 757 309 106
Net amortization of premiums and discounts on investment securities 5,069 4,967 3,435
Decrease (increase) in accrued interest receivable 5,598 (5,437) (11,340)
Increase in accrued interest payable 5,358 18,430 1,706
Increase in other assets (10,514) (16,619) (2,437)
(Decrease) increase in other liabilities (176) (41,290) 20,437
Net cash provided by operating activities 404,150 362,963 440,485
Cash flows from investing activities:      
Net disbursements on loans held for investment (705,368) (758,232) (603,853)
Proceeds from sales of loans held for investment 18,362 7,736 62,168
Proceeds from sales of repossessed assets 64,337 53,870 46,281
Purchases of available-for-sale debt securities (266,198) (5,458) (512,327)
Proceeds from principal repayments and maturities of available-for-sale debt securities 997,081 549,644 626,802
Purchases of held-to-maturity debt securities 0 0 (289,784)
Proceeds from principal repayments of held-to-maturity debt securities 38,353 85,988 32,153
Additions to premises and equipment (10,008) (22,599) (20,459)
Proceeds from sales of premises and equipment and other assets 1,353 4,475 1,196
Net (purchases) redemptions of equity securities (2,350) 5,643 (23,637)
Proceeds from the settlement of insurance claims - investing activities 670 483 0
Net cash provided (used) by investing activities 136,232 (78,450) (681,460)
Cash flows from financing activities:      
Net increase (decrease) in deposits 260,843 470,981 (1,706,118)
Net repayments of short-term borrowings 0 (550,133) 550,133
Repayments of long-term borrowings (97,000) (19,795) (500,000)
Proceeds from long-term borrowings 0 300,000 200,000
Repurchase of outstanding common stock (102,393) (203,241) (277,769)
Dividends paid on common stock (105,581) (99,666) (87,824)
Net cash used in financing activities (44,131) (101,854) (1,821,578)
Net increase (decrease) in cash and cash equivalents 496,251 182,659 (2,062,553)
Cash and cash equivalents at beginning of year 663,164 480,505 2,543,058
Cash and cash equivalents at end of year 1,159,415 663,164 480,505
Cash and cash equivalents include:      
Cash and due from banks 1,158,215 661,925 478,480
Money market investments 1,200 1,239 2,025
Cash and Cash Equivalents, at Carrying Value, Total $ 1,159,415 $ 663,164 $ 480,505