XML 21 R9.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 44,532 $ 29,522
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for (reversal of) credit losses 9,338 (2,871)
Depreciation, amortization and accretion, net 4,606 5,026
Net change in fair value of equity securities 11  
Equity in earnings of merchant banking subsidiaries (42,705) (2,125)
Deferred income taxes 2,400 1,871
Other, net 3,308 145
Net change in securities purchased under agreements to resell (10,371) (11,597)
Net change in trading securities (96,826) (141,709)
Net change in broker-dealer and clearing organization receivables 41,784 111,867
Net change in other assets 6,316 5,401
Net change in broker-dealer and clearing organization payables 112,058 15,861
Net change in other liabilities (79,627) (97,251)
Net change in securities sold, not yet purchased 5,937 25,690
Change in valuation of mortgage servicing rights asset 586 4,383
Net gains from sales of loans (45,281) (40,197)
Loans originated for sale (2,105,473) (1,951,478)
Proceeds from loans sold 2,155,244 2,118,309
Net cash provided by operating activities 5,837 70,847
Investing Activities    
Proceeds from maturities and principal reductions of securities held to maturity 17,998 23,513
Proceeds from sales, maturities and principal reductions of securities available for sale 51,148 46,538
Proceeds from sales, maturities and principal reductions of equity securities   1,333
Purchases of securities held to maturity (41,120)  
Purchases of securities available for sale (38,522) (24,039)
Net change in loans held for investment (63,775) (31,472)
Purchases of premises and equipment and other assets (797) (2,443)
Proceeds from sales and distributions of premises and equipment and other assets 48,231 2,121
Net cash paid to Federal Home Loan Bank and Federal Reserve Bank stock (25) (22)
Net cash provided by (used in) investing activities (26,862) 15,529
Financing Activities    
Net change in deposits (230,430) (189,229)
Net change in short-term borrowings (141,748) (6,811)
Proceeds from long-term borrowings 260,157  
Payments on long-term borrowings (397,079)  
Payments to repurchase common stock (33,281) (9,941)
Dividends paid on common stock (11,649) (11,076)
Net cash distributed to noncontrolling interest (1,653) (1,650)
Other, net (2,158) (2,981)
Net cash used in financing activities (557,841) (221,688)
Net change in cash, cash equivalents and restricted cash (578,866) (135,312)
Cash, cash equivalents and restricted cash, beginning of period 2,370,590 1,916,745
Cash, cash equivalents and restricted cash, end of period 1,791,724 1,781,433
Supplemental Disclosures of Cash Flow Information    
Cash paid for interest 87,763 109,119
Cash paid (received) for income taxes, net of refunds (623) 369
Supplemental Schedule of Non-Cash Activities    
Conversion of loans to other real estate owned 4,842 2,766
Transfer of loans held for investment to loans held for sale   31,551
Additions to mortgage servicing rights $ 1,766 $ 3,312