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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES:    
Net income $ 71,310 $ 69,984
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization on investment securities and low-income housing investments 3,753 3,678
Net accretion and amortization on loans (3,026) (12,650)
Unrealized and realized losses on equity securities with readily determinable fair value 204 505
Depreciation of premises and equipment 5,884 6,747
Amortization of mortgage servicing rights 1,773 2,617
Recovery of mortgage servicing rights   (500)
Provision for on-balance sheet exposures 14,504 12,231
Provision for off-balance sheet exposures 128 (52)
Net gain on sale of mortgage loans held for sale (4,704) (16,339)
Origination of mortgage loans held for sale (195,006) (525,246)
Proceeds from sale of mortgage loans held for sale 226,191 562,661
Net gain on sale of consumer loans held for sale (10,466) (7,889)
Origination of consumer loans held for sale (820,127) (561,062)
Proceeds from sale of consumer loans held for sale 831,802 558,972
Net gain realized on sale of other real estate owned   (51)
Writedowns of other real estate owned 158 158
Deferred compensation expense - Class A Common Stock 944 808
Stock-based awards and ESPP expense - Class A Common Stock 1,397 1,178
Net gain on sale of bank premises and equipment   (399)
Increase in cash surrender value of bank owned life insurance (1,852) (1,616)
Net change in other assets and liabilities:    
Accrued interest receivable (1,225) 3,573
Accrued interest payable 34 (162)
Other assets 1,309 2,384
Other liabilities 12,117 (3,104)
Net cash provided by operating activities 135,102 96,426
INVESTING ACTIVITIES:    
Purchases of available-for-sale debt securities (244,820) (141,571)
Proceeds from calls, maturities and paydowns of equity and available-for-sale debt securities 65,269 164,280
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities 11,703 8,444
Net change in outstanding warehouse lines of credit 408,312 212,114
Net change in other loans (212,312) 259,710
Proceeds from redemption of Federal Home Loan Bank stock 1,743 7,086
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 (7,258) (8,277)
Net purchases of premises and equipment (2,624) (4,972)
Net cash provided by investing activities 20,013 468,062
FINANCING ACTIVITIES:    
Net change in deposits (39,910) 214,766
Net change in securities sold under agreements to repurchase and other short-term borrowings (81,591) 49,557
Payments of Federal Home Loan Bank advances (25,000) (235,000)
Proceeds from Federal Home Loan Bank advances 20,000 25,000
Payoff of subordinated note, net of common security interest   (40,000)
Repurchase of Class A Common Stock (12,164) (34,907)
Net proceeds from Class A Common Stock purchased through employee stock purchase plan 433 435
Net proceeds from option exercises and equity awards vested - Class A Common Stock 40 (142)
Cash dividends paid (19,501) (18,537)
Net cash used in financing activities (157,693) (38,828)
NET CHANGE IN CASH AND CASH EQUIVALENTS (2,578) 525,660
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 756,971 485,587
CASH AND CASH EQUIVALENTS AT END OF PERIOD 754,393 1,011,247
Cash paid during the period for:    
Interest 4,017 4,790
Income taxes 14,614 16,736
SUPPLEMENTAL NONCASH DISCLOSURES:    
Mortgage servicing rights capitalized 1,755 3,889
Transfers from loans to real estate acquired in settlement of loans   64
Unfunded commitments in low-income-housing investments 16,100 24
Right-of-use assets recorded $ 6,360 $ 263