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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 264,309 $ 203,171
Adjustments reconciling net income to net cash (used in) provided by operating activities:    
Depreciation 14,343 14,260
Net losses on sale or disposal of premises and equipment 31 97
Provision for credit losses 45,985 119,704
Net write-downs and (gains) losses on sale of other real estate owned (20) (1,597)
Share-based compensation expense 9,329 7,415
Amortization of intangible assets 13,009 13,819
Amortization of operating lease right of use assets 7,588 8,440
Provision for deferred taxes (23,459) (13,382)
Net accretion of debt securities available-for-sale (3,126) (4,316)
Net accretion of debt securities held-to-maturity (130) (136)
Net amortization of other investments 825 1,108
Net (gain) loss on securities (12,320) 16
Net amortization (accretion) of fair value marks on purchased loans 1,063 (1,361)
Net amortization on other borrowings 206 774
Amortization of subordinated deferrable interest debentures 1,496 1,495
Originations of mortgage loans held for sale (3,237,612) (2,818,898)
Payments received on mortgage loans held for sale 12,720 11,806
Proceeds from sales of mortgage loans held for sale 2,980,551 2,802,956
Net (gains) losses on mortgage loans held for sale (43,062) 4,447
Originations of SBA loans (5,823) (24,252)
Proceeds from sales of SBA loans 5,690 27,129
Net gains on sale of SBA loans (468) (1,382)
Increase in cash surrender value of bank owned life insurance (8,516) (6,768)
Gain on bank owned life insurance proceeds (1,464) (486)
Gain on sale of mortgage servicing rights (9,958) 0
Gain on debt redemption (169) (1,148)
Change attributable to other operating activities 12,672 13,157
Net cash provided by operating activities 23,690 356,068
Investing Activities    
Purchases of debt securities available-for-sale (423,932) (500)
Purchases of debt securities held-to-maturity (22,206) (8,543)
Proceeds from maturities and paydowns of debt securities available-for-sale 413,553 61,394
Proceeds from sales of debt securities available-for-sale 0 216
Proceeds from maturities and paydowns of debt securities held-to-maturity 2,628 1,684
Net decrease in other investments 19,390 4,911
Net increase in loans (815,879) (400,486)
Purchases of premises and equipment (9,120) (11,680)
Proceeds from sale of premises and equipment 250 42
Proceeds from sales of other real estate owned 7,503 8,756
Proceeds from sale of mortgage servicing rights 82,328 0
Purchases of bank owned life insurance (110,000) 0
Proceeds from bank owned life insurance 55,059 1,890
Net cash used in investing activities (800,426) (342,316)
Financing Activities    
Net increase in deposits 1,170,756 1,127,607
Proceeds from other borrowings 4,443,000 13,837,000
Repayment of other borrowings (4,606,177) (14,502,809)
Proceeds from exercise of stock options 0 476
Dividends paid - common stock (31,140) (31,308)
Purchase of treasury shares (7,851) (17,077)
Net cash provided by financing activities 968,588 413,889
Net increase in cash and cash equivalents 191,852 427,641
Cash and cash equivalents at beginning of period 1,167,304 1,118,132
Cash and cash equivalents at end of period 1,359,156 1,545,773
Cash paid (received) during the period for:    
Interest 408,323 290,972
Income taxes 97,574 88,353
Loans transferred to other real estate owned 10,766 9,713
Loans transferred from loans held for sale to loans held for investment 15,957 8,806
Right-of-use assets obtained in exchange for new operating lease liabilities 2,470 2,678
Change in unrealized loss on securities available-for-sale, net of tax $ 20,215 $ (14,311)