v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 49,849 $ 27,153
Adjustments to reconcile net income to net cash used for operating activities:    
Net fair value adjustments 57,120 96,084
Change in fair value of loan servicing assets 30,723 35,296
Gain on sales of loans (25,742) (21,657)
Provision for credit losses 97,882 67,488
Accretion of loan deferred fees and costs (31,547) (36,686)
Stock-based compensation, net 17,584 20,993
Depreciation and amortization 29,369 25,745
Other, net 5,893 1,258
Net change to loans held for sale (1,317,153) (1,980,860)
Net change in operating assets and liabilities:    
Other assets 24,077 8,257
Other liabilities 9,595 (22,044)
Net cash used for operating activities (1,052,350) (1,778,973)
Cash Flows from Investing Activities:    
Net change in loans and leases 85,143 435,152
Purchases of securities available for sale (6,202) (15,341)
Proceeds from maturities and paydowns of securities available for sale 815,390 309,956
Purchases of property, equipment and software, net (103,760) (24,646)
Other investing activities (3,088) (1,271)
Net cash provided by investing activities 787,483 703,850
Cash Flows from Financing Activities:    
Net change in deposits 65,953 773,171
Principal payments on borrowings 0 (14,211)
Other financing activities (4,161) (8,534)
Net cash provided by financing activities 61,792 750,426
Net Decrease in Cash, Cash Equivalents and Restricted Cash (203,075) (324,697)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 977,396 1,294,148
Cash, Cash Equivalents and Restricted Cash, End of Period 774,321 969,451
Supplemental Cash Flow Information:    
Cash paid for interest 165,439 178,261
Cash paid for taxes 2,459 52
Cash paid for operating leases included in the measurement of lease liabilities 6,693 6,360
Supplemental Non-cash Investing Activity:    
Net securities retained from Structured Program transactions $ 880,511 $ 1,498,125