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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 263,495 $ 269,025 $ 222,648
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 61,410 88,071 48,089
Depreciation of premises and equipment, net 13,875 17,508 24,152
Accretion of fees, premiums and discounts, net (24,207) (27,376) (28,378)
Amortization of intangible assets 15,680 15,527 18,401
Amortization of right of use lease asset 10,147 15,567 17,990
Decrease in operating lease liability (10,957) (12,417) (16,291)
Income from mortgage banking activities, net (7,565) (4,799) (7,271)
Loss (gain) on sale of other real estate owned and valuation adjustments, net 296 195 (221)
Stock-based compensation expense 11,901 9,605 6,349
Unrealized gains on equity investments, net 0 (329) (5,980)
Realized gain on sale of equity investment, net (2,309) (9,493) 0
Deferred income tax benefit (8,162) (5,397) (4,005)
Decrease (increase) in accrued interest receivable 1,308 (11,531) (22,151)
Increase in other assets (106,041) (2,185) (58,852)
Origination of loans held-for-sale (393,408) (280,826) (527,684)
Proceeds from sales of loans held-for-sale 319,658 198,920 501,186
(Decrease) increase in accrued interest payable (8,511) 41,510 1,196
Increase (decrease) in other liabilities 85,291 (60,781) 315,065
(Increase) decrease in value of bank-owned life insurance (531) (2,053) (1,311)
Increase in capitalized interest, net (1,471) (1,738) (2,078)
Net cash provided by operating activities 219,899 237,003 480,854
Investing activities:      
Purchases of investment securities held to maturity 0 0 (120,868)
Repayments, maturities and calls of investment securities held to maturity 61,332 72,966 66,186
Purchases of investment securities available-for-sale (67,433) (27,689) (1,218,022)
Repayments of investment securities available-for-sale 350,388 354,783 1,015,603
Proceeds from bank-owned life insurance death benefit 112 3,772 1,437
Proceeds from bank-owned life insurance surrender 6,616 51,981 0
Net proceeds from sale of equity investments 0 17,946 0
Net cash (paid for) from business combinations 0 (3,000) 573,745
Net increase in loans and leases (138,250) (486,819) (41,324)
Purchases of loans held for investment (269,635) (313,363) (393,159)
Purchases of FHLB stock (432,919) (134,279) (51,518)
Redemption of FHLB stock 436,512 142,997 36,207
Sales of assets acquired through foreclosure, net 803 833 1,964
Sale of premise and equipment 0 17 1,191
Investment in premises and equipment, net (14,258) (6,406) (8,809)
Net cash used in investing activities (66,732) (326,261) (137,367)
Financing activities:      
Net increase (decrease) in demand and saving deposits 263,007 (358,115) (1,123,468)
Increase (decrease) in time deposits 346,329 681,484 (94,251)
(Decrease) increase in brokered deposits (51,676) (70,915) 61,705
Receipts from FHLB advances 13,037,879 7,195,000 1,873,100
Repayments of FHLB advances (12,986,839) (7,545,000) (1,523,100)
Receipts from federal funds purchased 1,525,001 7,713,000 2,730,001
Repayments of federal funds purchased (1,525,001) (7,713,000) (2,730,001)
Receipts from Bank Term Funding Program 235,000 565,000 0
Repayments of Bank Term Funding Program (800,000) 0 0
Distributions to noncontrolling shareholders (3,299) (4,463) (504)
Cash dividend (35,805) (36,742) (35,746)
Issuance of common stock and exercise of common stock options 466 3,298 3,179
Redemption of senior and subordinated debt 0 (30,000) 0
Repurchase of common shares (96,311) (54,647) (200,083)
Net cash (used in) provided by financing activities (91,249) 344,900 (1,039,168)
Increase (decrease) in cash, cash equivalents, and restricted cash 61,918 255,642 (695,681)
Cash, cash equivalents, and restricted cash at beginning of period 1,092,900 837,258 1,532,939
Cash, cash equivalents, and restricted cash at end of period 1,154,818 1,092,900 837,258
Supplemental disclosure of cash flow information:      
Cash paid for interest during the period 366,655 209,909 36,487
Cash paid for income taxes, net 82,122 99,136 58,148
Non-cash information:      
Loans transferred to other real estate owned 4,438 1,569 630
Loans transferred to portfolio from held-for-sale at fair value 57,813 96,312 97,848
Securities transferred to held-to-maturity from available-for-sale at fair value 0 0 931,421
Receivable for bank-owned life insurance surrender proceeds 0 4,731 0
Receivable for bank-owned life insurance death benefit proceeds 0 742 0
Premises & equipment transferred to held-for-sale 18,839 0 0
Fair value of assets acquired, net of cash received 0 7,993 4,713,544
Fair value of liabilities assumed $ 0 $ 4,993 $ 4,379,273