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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Operating activities:      
Net income $ 54,955 $ 50,142  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 686 591  
Provision for credit losses 6,867 2,451  
Gain on sale of loans (6,733) (17,965)  
Proceeds from sales of loans 3,356,860 8,214,273  
Loans and participations originated and purchased for sale (3,674,484) (7,178,991)  
Purchases of low-income housing tax credits for sale (7,932) (6,651)  
Proceeds from sale of low-income housing tax credits 8,670    
Change in servicing rights for paydowns and fair value adjustments 4,554 (4,896)  
Net change in:      
Mortgage loans in process of securitization (42,880) 244,959  
Other assets and receivables (8,116) (15,325)  
Other liabilities 7,607 8,030  
Other (1,587) (988)  
Net cash (used in) provided by operating activities (301,533) 1,295,630  
Investing activities:      
Net change in securities purchased under agreements to resell 26 1,090  
Purchases of securities available for sale (353,249) (20,002)  
Purchases of securities held to maturity (1,540)    
Proceeds from calls, maturities and paydowns of securities available for sale 832 9,302  
Proceeds from calls, maturities and paydowns of securities held to maturity 15,783    
Purchases of loans (98,791) (40,672) $ (40,700)
Net change in loans receivable (678,522) (187,323)  
Proceeds from sale of FHLB stock   784  
Purchases of premises and equipment (1,041) (3,939)  
Purchase of servicing rights   (2,057)  
Purchase of limited partnership interests (4,580) (6,577)  
Other investing activities 906 2,245  
Net cash used in investing activities (1,120,176) (247,149)  
Financing activities:      
Net change in deposits 1,273,886 (1,506,792)  
Proceeds from borrowings 22,335,000 626,000  
Repayment of borrowings (22,185,180) (780,025)  
Proceeds from credit linked notes 153,546    
Dividends (12,126) (8,757)  
Other financing activities 5    
Net cash provided by (used in) financing activities 1,565,131 (1,669,574)  
Net Change in Cash and Cash Equivalents 143,422 (621,093)  
Cash and Cash Equivalents, Beginning of Period 226,164 1,032,614 1,032,614
Cash and Cash Equivalents, End of Period 369,586 411,521 $ 226,164
Supplemental Cash Flows Information:      
Interest paid 101,381 10,228  
Income taxes paid, net of refunds 966 $ (497)  
Transfer of loans from loans receivable to loans held for sale $ 377,460