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Consolidated Statements of Cash Flows - Unaudited - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net income from continuing operations $ 199,323 $ 252,014
Adjustments to reconcile net income to net cash provided by (used in) continuing operating activities    
Provision (benefit) for credit losses 31,850 13,536
Depreciation and amortization 20,027 16,221
Share-based compensation expense 10,702 11,194
Deferred taxes (436) 7,051
Net amortization (accretion) of investment securities premiums and discounts 2,139 1,171
Unrealized (gain) loss on investment securities 738 (2,720)
(Gain) loss on sale of investment securities 6,227 (31,441)
Loss on sale of foreign subsidiaries 0 2,840
Impairment loss on fixed assets and leases 1,362 0
Unrealized gain (loss) on derivatives (2,348) (2,622)
Loss on cash flow hedge derivative terminations 0 24,467
Settlement of terminated cash flow hedge derivatives 0 (27,156)
(Gain) loss on sale of leased assets under lessor operating leases 350 763
Fair value adjustment on loans held for sale 0 (1,115)
(Gain) loss on sale of loans (4,149) (10,067)
Loss on sale of consumer installment loans 23,465 0
Origination of loans held for sale (28,077) (55,093)
Proceeds from the sale of loans held for sale 44,209 49,674
Amortization (accretion) of loan net deferred fees, discounts and premiums (49,601) (149,647)
Earnings on investment in bank-owned life insurance (13,722) (6,432)
(Increase) decrease in accrued interest receivable and other assets 16,883 45,591
Increase (decrease) in accrued interest payable and other liabilities 16,080 136,295
Net Cash Provided By (Used In) Continuing Operating Activities 275,022 274,524
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities available for sale 408,046 258,418
Proceeds from maturities, calls and principal repayments of investment securities held to maturity 13,631 0
Proceed from sales of foreign subsidiaries 0 3,765
Proceeds from sales of investment securities available for sale 681,633 666,023
Purchases of investment securities available for sale (929,754) (1,423,959)
Origination of mortgage warehouse loans (23,568,943) (44,292,416)
Proceeds from repayments of mortgage warehouse loans 24,247,843 45,356,500
Net (increase) decrease in loans and leases, excluding mortgage warehouse loans (1,639,900) 521,323
Proceeds from sales of loans and leases 136,920 260,851
Purchase of loans (368,776) (1,389,512)
Purchases of bank-owned life insurance 0 (46,462)
Proceeds from bank-owned life insurance 11,807 1,999
Net (purchases of) proceeds from sale of FHLB, Federal Reserve Bank, and other restricted stock 6,880 14,184
Purchases of bank premises and equipment (587) (418)
Proceeds from sales of other real estate owned 0 45
Proceeds from sales of leased assets under lessor operating leases 2,889 5,475
Purchases of leased assets under lessor operating leases (86,797) (16,691)
Net Cash Provided By (Used In) Continuing Investing Activities (1,085,108) (80,875)
Cash Flows from Financing Activities    
Net increase (decrease) in deposits 744,514 5,661,096
Net increase (decrease) in short-term borrowed funds from the FHLB (700,000) (850,000)
Net increase (decrease) in federal funds purchased 290,000 (250,000)
Net increase (decrease) in borrowed funds from FRB PPP liquidity facility 0 (4,415,016)
Proceeds from long-term borrowed funds from the FHLB 500,000 0
Proceeds from issuance of other long-term borrowings 0 98,799
Repayments of other borrowings (100,000) 0
Redemption of preferred stock 0 (82,497)
Preferred stock dividends paid (6,374) (8,794)
Purchase of treasury stock (27,820) 0
Payments of employee taxes withheld from share-based awards (4,248) (4,201)
Proceeds from issuance of common stock 447 11,660
Proceeds from sale of non-controlling interest in BMT 0 26,795
Net Cash Provided By (Used In) Continuing Financing Activities 696,519 187,842
Net Increase (Decrease) in Cash and Cash Equivalents From Continuing Operations (113,567) 381,491
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 (113,567) 358,700
Cash and Cash Equivalents – Beginning 518,032 693,354
Cash and Cash Equivalents – Ending 404,465 1,052,054
Non-cash Investing and Financing Activities:    
Transfer of investment securities available for sale to held to maturity 500,174 0
Purchases of investment securities held to maturity upon sale of consumer installment loans 400,001 0
Distribution of investment in BM Technologies common stock 0 32,983
Transfer of loans held for investment to held for sale 4,108 17,155
Transfer of loans held for sale to held for investment 0 55,684
Unsettled purchases of investment securities $ 0 $ 160,000