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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 54,568 $ 32,627
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 7,814 8,249
Net amortization of debt securities 2,939 3,210
Net amortization of purchase accounting adjustments and deferred loan fees and costs (3,250) 436
Origination of loans held for sale (160,307) (111,561)
Proceeds from loans held for sale 157,156 104,592
Gain on sale of loans (4,311) (3,362)
Gain on sale of securities 0 (16)
Bank-owned life insurance income, net (1,182) (1,076)
Stock-based compensation, net of tax benefits 2,541 1,615
Depreciation and amortization 7,494 7,092
Gain on dispositions of premises and equipment (1,010) (1,035)
Loss (gain) on sale and write-downs of other real estate owned, net 18 (91)
Amortization of core deposit and other intangibles 3,270 2,760
Amortization of investments in variable interest entities 8,662 7,425
Net increase in accrued interest receivable (4,729) (8,014)
Net (increase) decrease in other assets (1,784) 3,391
Net decrease in accrued interest payable (3,394) (93,924)
Net decrease in operating lease liabilities (921) (824)
Net decrease in other liabilities (11,128) (8,223)
Net cash provided by (used in) operating activities 52,446 (56,729)
Investing Activities    
Sales of debt securities, available-for-sale 0 160,558
Maturities, prepayments and calls of available-for-sale debt securities 148,759 166,314
Purchases of available-for-sale debt securities (13,791) 0
Maturities, prepayments and calls of held-to-maturity debt securities 46,904 49,821
Purchases of held-to-maturity debt securities (13,723) 0
Net change in loans 44,684 (88,188)
Proceeds from sale of premises and equipment 2,051 2,399
Net additions to premises and equipment (5,663) (6,689)
Proceeds from sale of other real estate owned 22 720
Proceeds from redemption of non-marketable equity securities 12,931 12,383
Purchases of non-marketable equity securities (1,214) (106,892)
Proceeds from bank-owned life insurance 0 193
Investments in variable interest entities (15,453) (12,154)
Net cash received from acquisitions 0 30,903
Net cash provided by investing activities 205,507 209,368
Financing Activities    
Net increase (decrease) in deposits 87,169 (118,419)
Net increase in securities sold under agreements to repurchase 71,596 53,158
Net increase in short-term Federal Home Loan Bank advances 0 281,657
Repayments of short-term FRB Bank Term Funding 0 (2,740,000)
Proceeds from long-term Federal Home Loan Bank advances 0 1,800,000
Repayments of long-term Federal Home Loan Bank advances (280,000) 0
Net increase in other borrowed funds 154 7,915
Principal payments on finance lease liabilities (976) (948)
Cash dividends paid (363) (314)
Tax withholding payments for stock-based compensation (2,456) (1,370)
Net cash used in financing activities (124,876) (718,321)
Net increase (decrease) in cash, cash equivalents and restricted cash 133,077 (565,682)
Cash, cash equivalents at beginning of period 848,408 1,354,342
Cash, cash equivalents at end of period 981,485 788,660
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 103,340 206,846
Cash paid during the period for income taxes 2,427 5
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Sale and refinancing of other real estate owned 1 0
Transfer of loans to other real estate owned 30 16
Right-of-use assets obtained in exchange for new lease liabilities 176 152
Equity investments obtained in exchange for delayed equity contributions 5,268 7,148
Dividends declared during the period but not paid 37,553 37,514
Acquisitions    
Fair value of common stock shares issued 0 92,385
Cash consideration 0 771
Fair value of assets acquired 0 777,659
Liabilities assumed $ 0 $ 684,503