v3.25.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 107,349 $ 77,335
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 28,081 11,767
Net amortization of debt securities 5,778 6,598
Net amortization of purchase accounting adjustments and deferred loan fees and costs (2,158) (1,258)
Origination of loans held for sale (349,991) (292,073)
Proceeds from loans held for sale 343,897 295,111
Gain on sale of loans (8,584) (8,031)
Gain on sale of securities 0 (4)
Bank-owned life insurance income, net (2,339) (2,229)
Stock-based compensation, net of tax benefits 3,809 3,084
Depreciation and amortization 15,288 14,334
Gain on dispositions of premises and equipment (2,622) (2,538)
Loss on sale and write-downs of other real estate owned, net 32 52
Amortization of core deposit and other intangibles 6,894 5,777
Amortization of investments in variable interest entities 15,004 13,041
Net increase in accrued interest receivable (2,631) (4,230)
Net (increase) decrease in other assets (8,055) 535
Net decrease in accrued interest payable (7,537) (95,509)
Net decrease in operating lease liabilities (2,113) (1,690)
Net decrease in other liabilities (1,623) (14,129)
Net cash provided by operating activities 138,479 5,943
Investing Activities    
Sales of debt securities, available-for-sale 120,245 160,558
Maturities, prepayments and calls of available-for-sale debt securities 359,587 316,640
Purchases of available-for-sale debt securities (28,239) (3,164)
Maturities, prepayments and calls of held-to-maturity debt securities 102,356 100,011
Purchases of held-to-maturity debt securities (13,723) 0
Net change in loans (198,386) (231,553)
Proceeds from sale of premises and equipment 4,490 7,069
Net additions to premises and equipment (12,178) (25,212)
Proceeds from sale of other real estate owned 649 926
Proceeds from redemption of non-marketable equity securities 30,485 109,634
Purchases of non-marketable equity securities (4,666) (214,825)
Proceeds from bank-owned life insurance 590 193
Investments in variable interest entities (25,838) (27,909)
Net cash received from acquisitions 26,125 30,903
Net cash provided by investing activities 361,497 223,271
Financing Activities    
Net increase (decrease) in deposits 3,359 (443,951)
Net increase in securities sold under agreements to repurchase 198,753 142,654
Net (decrease) increase in short-term Federal Home Loan Bank advances (13,000) 491,500
Repayments of short-term FRB Bank Term Funding 0 (2,740,000)
Proceeds from long-term Federal Home Loan Bank advances 0 1,800,000
Repayments of long-term Federal Home Loan Bank advances (580,000) 0
Net increase in other borrowed funds 304 8,136
Principal payments on finance lease liabilities (1,959) (1,916)
Cash dividends paid (37,833) (37,745)
Tax withholding payments for stock-based compensation (2,501) (1,455)
Net cash used in financing activities (432,877) (782,777)
Net increase (decrease) in cash and cash equivalents 67,099 (553,563)
Cash, cash equivalents at beginning of period 848,408 1,354,342
Cash, cash equivalents at end of period 915,507 800,779
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 207,982 315,786
Cash paid during the period for income taxes 16,087 13,513
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Sale and refinancing of other real estate owned 1 0
Transfer of loans to other real estate owned 1,397 104
Right-of-use assets obtained in exchange for new lease liabilities 604 280
Equity investments obtained in exchange for delayed equity contributions 20,849 15,148
Dividends declared during the period but not paid 39,307 37,615
Acquisitions    
Fair value of common stock shares issued 204,986 92,385
Cash consideration 2 771
Fair value of assets acquired 1,364,640 777,659
Liabilities assumed $ 1,159,652 $ 684,503