XML 29 R10.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 346,540 $ 376,913 $ 261,988
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation 18,416 17,225 15,759
Net losses on sale or disposal of premises and equipment 156 2,882 777
Net write-downs on other assets 0 260 1,715
Provision for credit losses 71,697 (35,365) 145,380
Net write-downs and (gains) losses on sale of other real estate owned (1,773) 538 1,049
Share-based compensation expense 6,706 7,948 3,810
Amortization of intangible assets 19,744 14,965 19,612
Amortization of operating lease right of use assets 12,639 15,739 19,740
Provision for deferred taxes (35,677) 38,411 (7,929)
Net amortization of debt securities available-for-sale (644) 2,786 6,153
Net amortization of debt securities held-to-maturity 37 40 0
Net amortization of other investments 722 62 0
Net gain on securities (203) (515) (5)
Accretion of discount on purchased loans, net 285 (16,349) (27,351)
Net amortization on other borrowings 433 438 256
Amortization of subordinated deferrable interest debentures 1,994 1,983 1,940
Loan servicing asset impairment (recovery) (21,824) (14,530) 40,067
Originations of mortgage loans held for sale (3,949,676) (7,780,436) (9,067,706)
Payments received on mortgage loans held for sale 23,324 53,313 43,663
Proceeds from sales of mortgage loans held for sale 4,493,742 7,459,163 9,864,464
Net (gains) losses on mortgage loans held for sale 93,133 (152,422) (387,124)
Originations of SBA loans (46,479) (67,865) (97,017)
Proceeds from sales of SBA loans 57,171 71,610 109,296
Net gains on sales of SBA loans (5,552) (6,623) (7,226)
Increase in cash surrender value of bank owned life insurance (7,305) (5,385) (3,630)
Gain on bank owned life insurance proceeds (55) (603) (948)
Gains on sale of other loans held for sale 0 (457) 0
Loss on sale of loans 0 0 386
Gain on sale of mortgage servicing rights (1,356) 0 0
Changes in FDIC loss-share receivable/payable, net of cash payments received 0 0 997
(Increase) decrease in interest receivable (20,125) 19,337 (23,892)
Increase (decrease) in interest payable 6,217 (1,175) (6,036)
Increase (decrease) in taxes payable 5,177 7,005 (12,062)
Change attributable to other operating activities (4,991) 247 (97,730)
Net cash provided by operating activities 1,062,473 9,140 798,396
Investing Activities, net of effects of business combinations      
Proceeds from maturities of time deposits in other banks 0 249 0
Purchases of securities available-for-sale (1,172,323) 0 0
Purchases of securities held-to-maturity (57,408) (80,355) 0
Proceeds from prepayments and maturities of securities available-for-sale 186,849 364,907 435,204
Proceeds from prepayments and maturities of securities held-to-maturity 2,357 465 0
Net (increase) decrease in other investments (63,959) (18,897) 37,222
Net increase in loans (3,345,287) (566,237) (1,733,057)
Payments received on other loans held for sale 0 9,136 12,954
Purchase of loan pool (472,266) 0 0
Proceeds from sale of mortgage servicing rights 119,845 0 0
Purchases of premises and equipment (13,568) (25,448) (18,116)
Proceeds from sale of premises and equipment 46 1,958 718
Proceeds from sales of other real estate owned 5,086 11,790 14,059
Purchase of bank owned life insurance (50,000) (150,000) 0
Payments paid to FDIC under loss-sharing agreements 0 0 (20,639)
Proceeds from bank owned life insurance 101 1,309 3,381
Proceeds from sales of other loans held for sale 0 156,803 0
Proceeds from sales of loans 0 0 69,965
Net cash proceeds received from (paid in) acquisitions (14,003) (126,664) (2,417)
Net cash used in investing activities (4,874,530) (420,984) (1,200,726)
Financing Activities, net of effects of business combinations      
Net increase (decrease) in deposits (202,815) 2,708,021 2,932,864
Net decrease in securities sold under agreements to repurchase (5,845) (5,796) (8,994)
Proceeds from other borrowings 3,950,000 0 7,202,981
Repayment of other borrowings (2,814,576) (296,325) (8,176,491)
Repayment of subordinated deferrable interest debentures 0 0 (5,155)
Proceeds from exercise of stock options 2,799 4,532 2,262
Dividends paid - common stock (41,610) (41,798) (41,685)
Purchase of treasury shares (22,421) (9,439) (7,995)
Net cash provided by financing activities 865,532 2,359,195 1,897,787
Net increase (decrease) in cash, cash equivalents and restricted cash (2,946,525) 1,947,351 1,495,457
Cash, cash equivalents and restricted cash at beginning of period 4,064,657 2,117,306 621,849
Cash, cash equivalents and restricted cash at end of period 1,118,132 4,064,657 2,117,306
Cash paid during the year for:      
Interest 86,643 48,960 94,786
Income taxes 133,894 71,807 98,609
Loans transferred to other real estate owned 346 4,258 7,398
Loans transferred from loans held for sale to loans held for investment 196,891 170,435 196,804
Loans transferred from loans held for investment to loans held for sale 0 0 179,407
Loans provided for the sales of other real estate owned 2,288 1,052 767
Right-of-use assets obtained in exchange for new operating lease liabilities 7,226 12,792 54,107
Assets acquired in business combination 3,216 886,553 0
Liabilities assumed in business combination (10,787) 690,116 0
Change in unrealized gain (loss) on securities available-for-sale, net of tax (62,097) (17,915) 15,363
Change in unrealized gain on cash flow hedge, net of tax $ 0 $ 0 $ 147