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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities:      
Net income $ 644,283 $ 408,864 $ 220,621
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision (benefit) for credit losses 280,619 (54,500) 137,750
Deferred tax expense (benefit) (69,664) (4,998) (31,236)
Stock-based compensation 54,099 13,662 12,179
Common stock contribution to charitable foundation 10,500 0 0
Depreciation and amortization 81,800 35,913 36,616
Amortization of earning assets and funding premium/discount, net (26,215) 133,069 75,929
Amortization of low-income housing tax credit investments 44,208 3,918 5,286
Amortization of mortgage servicing assets 870 5,593 6,562
Increase (Decrease) in Leasing Receivables (56,783) (22,781) (27,868)
Gain on sale, net of write-down, on foreclosed and repossessed assets (1,130) (744) (1,938)
Loss (gain) on sale, net of write-down, on premises and equipment 8,293 (1,236) 1,105
Net loss (gain) on sale of investment securities 6,751 0 (8)
Originations of loans held for sale (33,107) (235,066) (449,803)
Proceeds from sale of loans held for sale 36,335 247,634 486,341
Net (gain) on mortgage banking activities (580) (5,912) (15,305)
Net (gain) on sale of loans not originated for sale (3,322) (3,862) (301)
Increase in cash surrender value of life insurance policies (29,237) (14,429) (14,561)
Gain from life insurance policies (6,311) (4,402) (1,219)
Net decrease (increase) in derivative contract assets net of liabilities 536,820 173,506 (118,336)
Net (increase) decrease in accrued interest receivable and other assets (106,740) (69,263) 11,120
Net (decrease) increase in accrued expenses and other liabilities (149,103) 38,064 (8,121)
Net cash provided by operating activities 1,335,952 688,592 380,549
Investing Activities:      
Purchases of available-for-sale securities (1,099,810) (1,957,562) (990,904)
Proceeds from maturities and principal payments of available-for-sale securities 754,545 935,621 627,577
Proceeds from sales of available-for-sale securities 172,947 0 8,963
Purchases of held-to-maturity securities (1,150,023) (1,968,133) (1,297,535)
Proceeds from maturities and principal payments of held-to-maturity securities 750,752 1,288,140 983,864
Net proceeds from (purchase of) Federal Home Loan Bank stock (223,562) 5,758 71,452
Purchases of intercompany debt securities (24,887) (11,361) (12,244)
Net (increase) in loans (7,501,545) (773,443) (1,681,947)
Proceeds from loans not originated for sale 679,693 82,187 9,197
Proceeds from the sale of foreclosed properties and repossessed assets 2,568 1,998 11,497
Proceeds from the sale of premises and equipment 300 3,221 866
Additions to premises and equipment (28,762) (16,589) (21,280)
Proceeds from life insurance policies 21,893 5,074 1,885
Payments to Acquire Businesses, Net of Cash Acquired 54,407 0 0
Net (increase) decrease in interest-bearing deposits 513,960 0 0
Net cash provided by (used in) investing activities (7,186,338) (2,405,089) (2,288,609)
Financing Activities:      
Net increase in deposits 936,001 2,511,163 4,006,319
Proceeds from Federal Home Loan Bank advances 27,450,000 180,470 3,850,000
Repayments of Federal Home Loan Bank advances (22,000,445) (302,637) (5,665,312)
Proceeds From Extinguishment Of Debt 2,548 0 0
Net increase (decrease) in securities sold under agreements to repurchase and other borrowings 447,202 (320,459) (45,076)
Dividends paid to common shareholders (247,767) (144,807) (144,965)
Dividends paid to preferred shareholders (13,725) (7,875) (7,875)
Exercise of stock options 703 3,492 240
Common stock repurchased (322,103) 0 (76,556)
Common shares acquired related to stock compensation plan activity (23,655) (4,384) (3,506)
Net cash (used in) by financing activities 6,228,759 1,914,963 1,913,269
Net (decrease) increase in cash and cash equivalents 378,373 198,466 5,209
Cash and cash equivalents at beginning of year 461,570 263,104 257,895
Cash and cash equivalents at end of year 839,943 461,570 263,104
Supplemental disclosure of cash flow information:      
Interest paid 240,851 42,151 118,123
Income taxes paid 193,544 112,587 94,072
Noncash investing and financing activities:      
Transfer of loans and leases to foreclosed properties and repossessed assets 774 1,757 5,394
Transfer of loans from portfolio to loans held for sale 652,855 78,316 8,578
Deposits assumed 313 0 4,657
Sterling      
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision (benefit) for credit losses 175,100    
Noncash investing and financing activities:      
Noncash or Part Noncash Acquisition, Fixed Assets Acquired 26,922,010 0 0
Noncash or Part Noncash Acquisition, Intangible Assets Acquired 2,149,865 0 0
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed 24,405,711 0 0
Stock Issued 5,041,182 0 0
Sterling | Preferred Stock      
Noncash investing and financing activities:      
Total consideration 138,942 0 0
Bend Financial, Inc.      
Noncash investing and financing activities:      
Noncash or Part Noncash Acquisition, Fixed Assets Acquired 15,731 0 0
Noncash or Part Noncash Acquisition, Intangible Assets Acquired 38,966 0 0
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed $ 290 $ 0 $ 0