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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES:    
Net income $ 51,827 $ 49,975
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization on investment securities and low-income housing investments 1,496 2,489
Net accretion on loans and amortization of core deposit intangible and operating lease components (2,220) (10,894)
Unrealized and realized losses on equity securities with readily determinable fair value 190 482
Depreciation of premises and equipment 4,029 4,515
Amortization of mortgage servicing rights 1,248 1,735
Recovery of mortgage servicing rights   (500)
Provision for on-balance sheet exposures 12,931 10,939
Provision for off-balance sheet exposures 48 (55)
Net gain on sale of mortgage loans held for sale (3,919) (11,009)
Origination of mortgage loans held for sale (162,150) (354,764)
Proceeds from sale of mortgage loans held for sale 186,971 380,239
Net gain on sale of consumer loans held for sale (6,265) (4,121)
Origination of consumer loans held for sale (527,996) (304,045)
Proceeds from sale of consumer loans held for sale 525,709 288,510
Net gain realized on sale of other real estate owned   (51)
Writedowns of other real estate owned 105 105
Deferred compensation expense - Class A Common Stock 568 512
Stock-based awards and ESPP expense - Class A Common Stock 1,042 923
Net gain on sale of bank premises and equipment   (399)
Increase in cash surrender value of bank owned life insurance (1,235) (990)
Net change in other assets and liabilities:    
Accrued interest receivable 5 2,450
Accrued interest payable 3 (131)
Other assets 1,718 1,728
Other liabilities 9,889 (2,352)
Net cash provided by operating activities 93,994 55,291
INVESTING ACTIVITIES:    
Purchases of available-for-sale debt securities (189,820) (111,664)
Proceeds from calls, maturities and paydowns of equity and available-for-sale debt securities 33,340 108,201
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities 11,330 7,162
Net change in outstanding warehouse lines of credit 253,872 122,641
Net change in other loans (130,331) 135,473
Proceeds from redemption of Federal Home Loan Bank stock   5,727
Proceeds from sales of other real estate owned   611
Proceeds from sale of bank premises and equipment   637
Purchase of bank owned life insurance   (30,000)
Investments in low-income housing tax partnerships (5,509) (7,684)
Net purchases of premises and equipment (1,842) (3,923)
Net cash (used in) provided by investing activities (28,960) 227,181
FINANCING ACTIVITIES:    
Net change in deposits (12,889) 284,397
Net change in securities sold under agreements to repurchase and other short-term borrowings 12,348 (68,131)
Payments of Federal Home Loan Bank advances (25,000) (235,000)
Proceeds from Federal Home Loan Bank advances 20,000 25,000
Repurchase of Class A Common Stock (8,836) (15,229)
Net proceeds from Class A Common Stock purchased through employee stock purchase plan 278 272
Net proceeds from option exercises and equity awards vested - Class A Common Stock 42 (142)
Cash dividends paid (12,805) (12,219)
Net cash used in financing activities (26,862) (21,052)
NET CHANGE IN CASH AND CASH EQUIVALENTS 38,172 261,420
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 756,971 485,587
CASH AND CASH EQUIVALENTS AT END OF PERIOD 795,143 747,007
Cash paid during the period for:    
Interest 2,028 3,419
Income taxes 8,677 13,466
SUPPLEMENTAL NONCASH DISCLOSURES:    
Mortgage servicing rights capitalized 1,459 2,475
Transfers from loans to real estate acquired in settlement of loans   $ 64
Unfunded commitments in low-income-housing investments 10,100  
Right-of-use assets recorded $ 4,956