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Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income from continuing operations $ 76,761 $ 74,631
Adjustments to reconcile net income to net cash provided by (used in) by continuing operating activities:    
Provision (benefit) for credit losses 15,997 (2,919)
Depreciation and amortization 6,055 5,321
Share-based compensation expense 3,718 3,082
Deferred taxes (22,810) (6,198)
Net amortization (accretion) of investment securities premiums and discounts 918 (14)
Unrealized (gain) loss on investment securities 276 (974)
(Gain) loss on sale of investment securities 1,063 (23,566)
Unrealized gain (loss) on derivatives (964) (2,537)
Loss on cash flow hedge derivative terminations 0 24,467
Settlement of terminated cash flow hedge derivatives 0 (27,156)
Fair value adjustment on loans held for sale 0 (1,115)
(Gain) loss on sale of loans (2,070) (2,071)
Origination of loans held for sale (10,999) (12,323)
Proceeds from the sale of loans held for sale 24,813 17,122
Amortization (accretion) of loan net deferred fees, discounts and premiums (27,907) (345)
Earnings on investment in bank-owned life insurance (8,326) (1,679)
(Increase) decrease in accrued interest receivable and other assets 66,855 20,979
Increase (decrease) in accrued interest payable and other liabilities (6,440) 135,679
Net Cash Provided By (Used In) Continuing Operating Activities 116,940 200,384
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities 224,809 62,348
Proceeds from sales of investment securities available for sale 155,954 353,915
Purchases of investment securities available for sale (814,246) (589,874)
Origination of mortgage warehouse loans (7,938,526) (16,998,093)
Proceeds from repayments of mortgage warehouse loans 8,475,173 17,211,909
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans 159,706 (486,158)
Proceeds from sales of loans and leases 14,281 39,534
Purchase of loans (206,330) (117,036)
Proceeds from bank-owned life insurance 5,850 0
Net proceeds from sale of FHLB, Federal Reserve Bank, and other restricted stock 15,205 1,948
Purchases of bank premises and equipment (274) (298)
Purchases of leased assets under lessor operating leases (2,930) (4,849)
Net Cash Provided By (Used In) Continuing Investing Activities 88,672 (526,654)
Cash Flows from Financing Activities    
Net increase (decrease) in deposits (362,364) 1,162,511
Net increase (decrease) in short-term borrowed funds from the FHLB (700,000) 0
Net increase (decrease) in federal funds purchased 625,000 115,000
Net increase (decrease) in borrowed funds from FRB PPP liquidity facility 0 (1,130,860)
Preferred stock dividends paid (1,823) (3,401)
Purchase of treasury stock (6,310) 0
Payments of employee taxes withheld from share-based awards (3,755) (1,988)
Proceeds from issuance of common stock 208 6,684
Proceeds from sale of non-controlling interest in BMT 0 23,125
Net Cash Provided By (Used In) Continuing Financing Activities (449,044) 171,071
Net Increase (Decrease) in Cash and Cash Equivalents From Continuing Operations (243,432) (155,199)
Discontinued Operations:    
Net Cash Used In Operating Activities 0 (22,791)
Net Increase (Decrease) in Cash and Cash Equivalents From Discontinued Operations 0 (22,791)
Net Increase (Decrease) in Cash and Cash Equivalents (243,432) (177,990)
Cash and Cash Equivalents – Beginning 518,032 693,354
Cash and Cash Equivalents – Ending 274,600 515,364
Non-cash Investing and Financing Activities:    
Distribution of investment in BM Technologies common stock 0 32,983
Transfer of loans held for investment to held for sale 0 44,258
Unsettled purchases of investment securities $ 0 $ 56,620