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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 165,097 $ 123,056
Adjustments reconciling net income to net cash (used in) provided by operating activities:    
Depreciation 9,640 9,409
Net losses on sale or disposal of premises and equipment 9 74
Provision for credit losses 39,878 95,245
Net write-downs and (gains) losses on sale of other real estate owned (25) 37
Share-based compensation expense 5,642 4,429
Amortization of intangible assets 8,829 9,394
Amortization of operating lease right of use assets 5,037 5,672
Provision for deferred taxes (10,652) (10,507)
Net accretion of debt securities available-for-sale (2,276) (2,834)
Net accretion of debt securities held-to-maturity (87) (88)
Net amortization of other investments 571 753
Net (gain) loss on securities (12,328) 0
Net amortization (accretion) of fair value marks on purchased loans 648 (464)
Net amortization on other borrowings 137 703
Amortization of subordinated deferrable interest debentures 997 997
Originations of mortgage loans held for sale (2,115,354) (1,839,990)
Payments received on mortgage loans held for sale 7,220 8,629
Proceeds from sales of mortgage loans held for sale 1,834,290 1,826,177
Net gains on mortgage loans held for sale (22,359) (819)
Originations of SBA loans (5,364) (22,506)
Proceeds from sales of SBA loans 5,096 24,972
Net gains on sale of SBA loans (435) (1,231)
Increase in cash surrender value of bank owned life insurance (4,727) (4,482)
Gain on bank owned life insurance proceeds (1,464) (486)
Gain on sale of mortgage servicing rights (4,713) 0
Gain on debt redemption (169) (1,027)
Change attributable to other operating activities 18,380 (949)
Net cash (used in) provided by operating activities (78,482) 224,164
Investing Activities    
Purchases of debt securities available-for-sale (239,657) 0
Purchases of debt securities held-to-maturity (8,857) (8,543)
Proceeds from maturities and paydowns of debt securities available-for-sale 109,314 37,021
Proceeds from maturities and paydowns of debt securities held-to-maturity 1,918 982
Net (increase) decrease in other investments (13,062) 583
Net increase in loans (754,421) (653,613)
Purchases of premises and equipment (6,712) (7,881)
Proceeds from sale of premises and equipment 243 19
Proceeds from sales of other real estate owned 7,240 1,955
Proceeds from sale of mortgage servicing rights 30,969 0
Proceeds from bank owned life insurance 2,576 1,890
Net cash used in investing activities (870,449) (627,587)
Financing Activities    
Net increase in deposits 735,634 980,387
Proceeds from other borrowings 3,353,000 10,625,000
Repayment of other borrowings (2,916,141) (10,963,423)
Proceeds from exercise of stock options 0 476
Dividends paid - common stock (20,821) (20,971)
Purchase of treasury shares (7,851) (17,048)
Net cash provided by financing activities 1,143,821 604,421
Net increase in cash and cash equivalents 194,890 200,998
Cash and cash equivalents at beginning of period 1,167,304 1,118,132
Cash and cash equivalents at end of period 1,362,194 1,319,130
Cash paid (received) during the period for:    
Interest 268,051 182,077
Income taxes 56,060 62,186
Loans transferred to other real estate owned 3,229 7,319
Loans transferred from loans held for sale to loans held for investment 8,058 5,374
Right-of-use assets obtained in exchange for new operating lease liabilities 2,376 2,022
Change in unrealized loss on securities available-for-sale, net of tax $ (2,081) $ (4,111)