v3.25.2
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 97,373 $ 100,823
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums, net of accretion of fair value (discounts), on loans and amortization of deferred loan origination costs, net of (fees) 588 855
Accretion of investment securities discounts, net of amortization of premiums (259) (5,359)
Amortization of other intangible assets 2,464 2,956
Net change in operating leases (121) 3
Depreciation and amortization of premises and equipment 10,170 10,600
Deferred income tax (benefit) expense, net (1,218) 16,090
Provision for credit losses 47,366 30,702
Stock-based compensation 3,150 3,130
(Gain) loss on:    
Sale of securities 0 7
Sale of loans (1,078) (660)
Foreclosed real estate and other repossessed assets (374) (1,867)
Sale of other assets 0 (1)
Originations and purchases of loans held-for-sale (66,993) (60,378)
Proceeds from sale of loans held-for-sale 25,494 56,045
Net (increase) decrease in:    
Accrued interest receivable (2,106) (1,576)
Servicing assets 1,847 (269)
Other assets (42,158) (34,323)
Net increase (decrease) in:    
Accrued interest on deposits and borrowings 1,619 (1,226)
Accrued expenses and other liabilities 43,239 40,525
Net cash provided by operating activities 119,003 156,077
Purchases of:    
Investment securities available-for-sale (150,100) (545,356)
FHLB stock (30,367) (28,016)
Equity securities (1,519) (1,813)
Maturities and redemptions of:    
Investment securities available-for-sale 169,900 418,623
Investment securities held-to-maturity 10,708 210,817
FHLB stock 27,226 27,224
Proceeds from sales of:    
Investment securities available-for-sale 0 149,406
Foreclosed real estate and other repossessed assets, including write-offs 27,578 27,159
Premises and equipment 0 1
Origination and purchase of loans, excluding loans held-for-sale (1,813,510) (1,435,894)
Principal repayment of loans 1,362,408 1,246,285
Additions to premises and equipment (8,499) (10,903)
Net cash (used in) provided by investing activities (406,175) 57,533
Net increase (decrease) in:    
Deposits 525,130 (172,551)
Securities sold under agreements to repurchase (47,657) 0
FHLB advances and other borrowings 130,000 (2)
Exercise of stock options and restricted units lapsed, net of employee award repurchased (3,529) (2,221)
Purchase of treasury stock (31,087) (24,282)
Dividends paid on common stock (25,024) (22,298)
Net cash provided by (used in) financing activities 547,833 (221,354)
Net change in cash and cash equivalents 260,661 (7,744)
Cash and cash equivalents at beginning of period 591,137 748,173
Cash and cash equivalents at end of period 851,798 740,429
Reconciliation of the Consolidated Statements of Cash Flows to the Consolidated Statements of Financial Condition:    
Cash and due from banks 844,492 735,346
Money market investments 7,306 5,083
Total cash and cash equivalents at end of period 851,798 740,429
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:    
Interest paid 79,065 78,619
Income taxes paid 41,857 11,822
Operating lease liabilities paid 4,584 4,911
Mortgage loans held-for-sale securitized into mortgage-backed securities 40,815 38,089
Transfer from loans to foreclosed real estate and other repossessed assets 24,279 23,429
Reclassification of loans held-for-investment portfolio to held-for-sale portfolio 0 26,840
Reclassification of loans held-for-sale portfolio to held-for-investment portfolio 0 1,084
Financed sales of foreclosed real estate 309 710
Delinquent loans booked under the GNMA buy-back option $ 43,282 $ 19,008