XML 27 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES      
Net income (loss) $ (397,553) $ 152,693 $ 175,057
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40,802 46,116 47,877
Provision for credit losses 65,824 46,785 42,028
Loss on sale of investments 801,492 28,393 20,609
Net amortization of investment securities and assets 11,886 16,605 14,982
Net amortization on borrowings 257 152 152
Stock-based compensation expense 10,763 11,290 12,189
Gain on sale of foreclosed assets and other real estate owned (500) (928) (182)
Gain on sale of mortgage loans held for sale (8,229) (8,302) (7,981)
(Gain) loss on sale of loans (109) 234 0
Loss on early extinguishment of debt 565 0 0
Deferred income taxes (153,519) (3,233) (2,460)
Income from bank owned life insurance (19,192) (15,578) (12,905)
Originations of mortgage loans held for sale (280,597) (277,450) (262,901)
Proceeds from sale of mortgage loans held for sale 282,805 283,708 264,995
Changes in assets and liabilities:      
Interest receivable 19,181 (813) (19,538)
Assets held in trading accounts (11,685) 0 0
Other assets 90,537 101,288 263,969
Accrued interest and other liabilities 2,145 53,195 (3,908)
Income taxes payable (5,993) (8,231) 8,996
Net cash provided by operating activities 449,503 425,924 540,979
INVESTING ACTIVITIES      
Net change in loans (708,627) (214,188) (786,775)
Proceeds from sale of loans 121,788 13,044 69,760
Proceeds from sale of closed branches 18,843 0 0
Decrease in due from banks - time 0 0 695
Purchases of premises and equipment, net (38,141) (45,509) (33,086)
Proceeds from sale of foreclosed assets and other real estate owned 11,497 5,428 2,071
Proceeds from sale of available-for-sale securities 2,363,220 251,517 247,948
Proceeds from maturities of available-for-sale securities 337,593 300,466 302,802
Purchases of available-for-sale securities (597,219) (7,071) (7,518)
Proceeds from maturities of held-to-maturity securities 41,009 81,488 85,192
Purchases of held-to-maturity securities 0 0 (68,368)
Proceeds from bank owned life insurance death benefits 7,669 1,376 3,686
Purchases of bank owned life insurance (15,697) (24,528) 0
Surrender of bank owned life insurance 19,025 7,484 0
Sale of equipment finance business 11,198 0 0
Net cash provided by (used in) investing activities 1,572,158 369,507 (183,593)
FINANCING ACTIVITIES      
Net change in deposits (1,701,712) (359,228) (302,747)
Proceeds from issuance of other borrowed funds 1,765,000 3,375,000 3,725,000
Proceeds from issuance of subordinated notes 321,054 0 0
Repayments of other borrowed funds (2,208,119) (3,601,994) (3,611,930)
Repayments of subordinated debentures (367,000) 0 0
Dividends paid on common stock (115,041) (105,439) (100,962)
Net change in federal funds purchased and securities sold under agreements to repurchase (15,726) (30,860) (92,434)
Issuance of common stock 327,107 0 0
Net shares cancelled under stock compensation plans (3,524) (595) (2,854)
Shares issued under employee stock purchase plan 836 970 833
Repurchase of common stock 0 0 (40,322)
Net cash used in financing activities (1,997,125) (722,146) (425,416)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 24,536 73,285 (68,030)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 687,377 614,092 682,122
CASH AND CASH EQUIVALENTS, END OF YEAR 711,913 687,377 614,092
Closed Branches      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of closed branches (495) 0 0
Equipment Finance Business      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of closed branches $ 1,118 $ 0 $ 0