v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 124,375 $ 67,804
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 32,000 39,000
Depreciation and amortization 23,669 24,835
Net loss on available-for-sale debt securities 1,886 0
Debt and Equity Securities, Unrealized Gain (Loss) (104) 3,975
Sales/(purchases) of trading securities, net (3,888) 0
Stock-based compensation expense 20,377 14,755
Proceeds from sales and repayments of loans held for sale 0 25,731
Changes in operating assets and liabilities:    
Accrued interest receivable and other assets (66,954) (24,042)
Accrued interest payable and other liabilities (68,204) (15,017)
Net cash provided by operating activities 63,365 129,091
Investing activities    
Purchases of available-for-sale debt securities (700,052) (693,894)
Proceeds from sales of available-for-sale debt securities 280,402 0
Proceeds from maturities, redemptions and pay-downs of available-for-sale debt securities 238,840 416,701
Proceeds from maturities, redemptions and pay-downs of held-to-maturity debt securities 35,925 35,712
Sales/(purchases) of equity securities, net 6,465 (18,432)
Originations of loans held for investment, mortgage finance (43,839,841) (37,081,520)
Proceeds from pay-offs of loans held for investment, mortgage finance 43,165,826 35,981,687
Net increase in loans held for investment, excluding mortgage finance loans (824,215) (379,469)
Purchase of premises and equipment, net (7,960) (42,246)
Net cash used in investing activities (1,644,610) (1,781,461)
Financing activities    
Net increase/(decrease) in deposits 825,710 1,446,488
Issuance of stock related to stock-based awards (6,913) (8,730)
Preferred stock dividends paid (8,625) (8,625)
Repurchase of common stock (52,158) (81,534)
Net increase/(decrease) in short-term borrowings 365,000 175,000
Redemption of long-term debt (40,435) (200,000)
Net cash provided by financing activities 1,082,579 1,322,599
Net increase in cash and cash equivalents (498,666) (329,771)
Cash and cash equivalents at beginning of period 3,188,808 3,242,850
Cash and cash equivalents at end of period 2,690,142 2,913,079
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 386,987 464,930
Cash paid during the period for income taxes 52,813 47,988
Transfers of loans from held for investment to held for sale $ 0 $ 18,411