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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 271,605 $ 113,320 $ 147,918
Adjustments to reconcile net income to net cash provided by operating activities:      
(Recovery of) provision for credit losses (117,087) 153,180 25,560
Depreciation of premises and equipment, net 15,410 14,999 15,852
Accretion of fees, premiums and discounts, net (38,257) (60,159) (45,548)
Amortization of intangible assets 10,583 10,909 11,113
Amortization of right of use lease asset 11,844 12,290 22,850
Decrease in operating lease liability (11,941) (12,170) (12,507)
Income from mortgage banking activities, net (23,216) (30,201) (11,053)
Gain on sale of securities, net (331) (9,076) (333)
(Gain) loss on sale of other real estate owned and valuation adjustments, net (385) (25) 125
Stock-based compensation expense 5,694 2,677 3,608
Unrealized gains on equity investments, net (5,141) (761) (26,175)
Realized loss (gain) on sale of equity investment, net 706 (22,052) 0
Deferred income tax expense (benefit) 39,838 (32,848) 7,074
Decrease (increase) in accrued interest receivable 2,739 (6,241) 1,406
Increase in other assets (46,378) (18,339) (4,676)
Origination of loans held-for-sale (971,863) (942,188) (479,289)
Proceeds from sales of loans held-for-sale 991,411 824,134 406,012
(Decrease) increase in accrued interest payable (714) (1,653) 1,203
(Decrease) increase in other liabilities (4,807) 24,675 30,922
Increase in value of bank-owned life insurance (1,048) (1,757) (806)
Increase in capitalized interest, net (3,014) (3,572) (3,390)
Net cash provided by operating activities 125,648 15,142 89,866
Investing activities:      
Purchases of investment securities held to maturity 0 (6,307) 0
Repayments, maturities and calls of investment securities held to maturity 20,365 27,085 16,170
Sale of investment securities available-for-sale 14,051 305,812 618,194
Purchases of investment securities available-for-sale (3,490,596) (1,454,699) (958,259)
Repayments of investment securities available-for-sale 697,480 606,156 269,697
Proceeds from bank-owned life insurance surrender 0 0 59,710
Net proceeds from sale of equity investments 4,899 85,850 0
Net cash from business combinations 0 0 76,072
Net decrease (increase) in loans and leases 1,265,395 (449,091) 201,934
Purchases of FHLB stock (625) (145,400) (394,428)
Redemption of FHLB stock 323 160,726 415,771
Sales of assets acquired through foreclosure, net 2,489 2,014 3,089
Sale of premise and equipment 427 69 71
Investment in premises and equipment, net (6,576) (7,159) (14,198)
Net cash (used in) provided by investing activities (1,492,368) (874,944) 293,823
Financing activities:      
Net increase in demand and saving deposits 1,760,031 2,501,442 69,761
Decrease in time deposits (169,871) (197,765) (55,400)
Decrease in brokered deposits (202,625) (29,474) (156,396)
Receipts from FHLB advances 1,000 5,047,424 32,320,456
Repayments of FHLB advances (7,623) (5,153,476) (32,536,246)
Receipts from federal funds purchased 0 8,030,475 32,252,775
Repayments of federal funds purchased 0 (8,225,475) (32,215,750)
Contribution from noncontrolling shareholders 0 23 0
Cash dividend (24,242) (24,369) (22,463)
Issuance of common stock and exercise of common stock options 1,522 2,032 7,755
Redemption of senior debt (100,000) 0 0
Issuance of senior debt, net of costs 0 147,780 0
Repurchase of common shares (13,268) (155,832) (97,186)
Net cash provided by (used in) financing activities 1,244,924 1,942,785 (432,694)
(Decrease) increase in cash, cash equivalents, and restricted cash (121,796) 1,082,983 (49,005)
Cash, cash equivalents, and restricted cash at beginning of period 1,654,735 571,752 620,757
Cash, cash equivalents, and restricted cash at end of period 1,532,939 1,654,735 571,752
Supplemental disclosure of cash flow information:      
Cash paid for interest during the period 23,434 50,103 74,942
Cash paid for income taxes, net 40,691 72,756 33,843
Non-cash information:      
Loans transferred to other real estate owned 1,972 2,674 2,541
Loans transferred to portfolio from held-for-sale at fair value 72,621 34,517 24,862
Available-for-sale securities purchased, not settled 34,489 0 0
Fair value of assets acquired, net of cash received 0 0 5,032,156
Fair value of liabilities assumed 0 0 5,108,228
Impact of ASC 842 Adoption:      
Allowance for credit losses on held-to-maturity debt securities 4 6  
Allowance for credit losses on loans and leases 94,507 228,804 47,576
Retained earnings $ 1,224,614 977,414  
Impact of ASC 842 Adoption:      
Impact of ASC 842 Adoption:      
Accounting Standards Update [Extensible Enumeration] Impact of ASC 842 Adoption:    
Impact of ASC 326 Adoption      
Impact of ASC 842 Adoption:      
Accounting Standards Update [Extensible Enumeration] Impact of ASC 326 Adoption    
Cumulative change in accounting principle      
Impact of ASC 842 Adoption:      
Allowance for credit losses on loans and leases     35,855
Cumulative change in accounting principle | Impact of ASC 842 Adoption:      
Impact of ASC 842 Adoption:      
Right of use asset $ 0 0 121,288
Lease liability 0 0 (132,346)
Cumulative change in accounting principle | Impact of ASC 326 Adoption      
Impact of ASC 842 Adoption:      
Allowance for credit losses on held-to-maturity debt securities 0 (8) 0
Allowance for credit losses on loans and leases 0 (35,855) 0
Deferred tax assets 0 8,461 0
Allowance for credit losses on unfunded lending commitments 0 (2,966) 0
Retained earnings $ 0 $ 30,368 $ 0