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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 87,935 $ 74,312
Adjustments reconciling net income to net cash provided by operating activities:    
Depreciation, amortization and accretion, net 8,358 9,436
Net (gains) losses on sale or disposal of premises and equipment (124) 15
Provision for credit losses 21,892 21,105
Net write-downs and (gains) losses on sale of other real estate owned (9) (177)
Share-based compensation expense 3,276 3,134
Amortization of operating lease right of use assets 2,276 2,606
Provision for deferred taxes (2,443) (644)
Net (gain) loss on securities (40) 7
Originations of mortgage loans held for sale (894,848) (858,557)
Payments received on mortgage loans held for sale 5,204 2,167
Proceeds from sales of mortgage loans held for sale 882,909 778,499
Net gains on mortgage loans held for sale (10,422) (9,868)
Originations of SBA loans (8,112) (3,538)
Proceeds from sales of SBA loans 8,638 2,432
Net gains on sale of SBA loans (526) (223)
Increase in cash surrender value of bank owned life insurance (3,297) (2,568)
Gain on bank owned life insurance proceeds (12) (998)
Gain on sale of mortgage servicing rights 14 0
Gain on debt redemption 0 169
Change attributable to other operating activities 16,183 1,609
Net cash provided by operating activities 116,852 18,580
Investing Activities    
Purchases of debt securities available-for-sale (274,582) (58,809)
Purchases of debt securities held-to-maturity (9,979) (6,321)
Proceeds from maturities and paydowns of debt securities available-for-sale 24,355 42,835
Proceeds from maturities and paydowns of debt securities held-to-maturity 952 860
Net decrease (increase) in other investments 292 (6,087)
Net decrease (increase) in loans 17,002 (345,953)
Purchases of premises and equipment (2,687) (3,437)
Proceeds from sale of premises and equipment 150 214
Proceeds from sales of other real estate owned 2,746 6,661
Proceeds from bank owned life insurance 56,900 0
Net cash used in investing activities (184,851) (370,037)
Financing Activities    
Net increase in deposits 189,961 288,881
Proceeds from other borrowings 1,040,000 983,000
Repayment of other borrowings (1,055,060) (861,105)
Dividends paid - common stock (14,133) (10,477)
Purchase of treasury shares (20,746) (4,894)
Net cash provided by financing activities 140,022 395,405
Net increase in cash and cash equivalents 72,023 43,948
Cash and cash equivalents at beginning of period 1,220,377 1,167,304
Cash and cash equivalents at end of period 1,292,400 1,211,252
Cash paid (received) during the period for:    
Interest 112,409 130,031
Income taxes 209 398
Loans transferred to other real estate owned 1,167 2,443
Loans transferred from loans held for sale to loans held for investment 348 6,088
Right-of-use assets obtained in exchange for new operating lease liabilities 369 982
Change in unrealized loss on securities available-for-sale, net of tax $ 15,689 $ (4,020)