v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES:    
Net income $ 78,752 $ 55,812
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization on investment securities and low-income housing investments 4,269 3,025
Net accretion and amortization on loans and deposits (1,947) (1,442)
Unrealized and realized losses on equity securities with readily determinable fair value (63) (107)
Depreciation of premises and equipment 3,540 3,565
Amortization of mortgage servicing rights 827 849
Provision for on-balance sheet exposures 19,495 35,765
Provision for off-balance sheet exposures 10 (230)
Net gain on sale of mortgage loans held for sale (2,894) (1,017)
Origination of mortgage loans held for sale (93,021) (79,752)
Proceeds from sale of mortgage loans held for sale 95,377 75,290
Net gain on sale of consumer loans held for sale (7,100) (7,044)
Origination of consumer loans held for sale (587,778) (590,488)
Proceeds from sale of consumer loans held for sale 590,673 589,339
Net gain realized on sale of other real estate owned   (4)
Writedowns of other real estate owned 106 105
Deferred compensation expense - Class A Common Stock 380 907
Stock-based awards and ESPP expense - Class A Common Stock 1,075 387
Amortization of right-of-use assets 3,049 2,971
Repayment of operating lease liabilities (2,985) (2,937)
Increase in cash surrender value of bank owned life insurance (1,614) (1,546)
Net change in other assets and liabilities:    
Accrued interest receivable (651) (1,089)
Accrued interest payable (676) (237)
Other assets (5,085) (5,647)
Other liabilities 7,899 (1,270)
Net cash provided by operating activities 101,638 75,205
INVESTING ACTIVITIES:    
Purchases of available-for-sale debt securities (318,782) (50,000)
Proceeds from calls, maturities and paydowns of equity and available-for-sale debt securities 205,765 163,090
Proceeds from calls, maturities and paydowns of held-to-maturity debt securities 5,344 284
Net change in outstanding warehouse lines of credit (121,013) (209,288)
Net change in other loans, net of allowance 154,886 81,063
Proceeds from sale of mortgage loans transferred to held for sale   67,176
Net proceeds from sale of consumer loans transferred to held for sale 5,305  
Purchases of Federal Home Loan Bank stock (90) (70)
Proceeds from sale of other real estate owned   173
Investments in low-income housing tax partnerships (10,085) (6,190)
Net purchases of premises and equipment (4,909) (3,378)
Net cash (used in) provided by investing activities (83,579) 42,860
FINANCING ACTIVITIES:    
Net change in deposits 106,693 15,884
Net change in securities sold under agreements to repurchase and other short-term borrowings (31,215) (25,020)
Payments of Federal Home Loan Bank advances (503,000) (760,000)
Proceeds from Federal Home Loan Bank advances 478,000 750,000
Repurchase of Class A Common Stock (72)  
Net proceeds from Class A Common Stock purchased through employee stock purchase plan 313 338
Net proceeds from option exercises and equity awards vested - Class A Common Stock 365 (864)
Cash dividends paid (16,486) (14,911)
Net cash (used in) provided by financing activities 34,598 (34,573)
NET CHANGE IN CASH AND CASH EQUIVALENTS 52,657 83,492
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 432,151 316,567
CASH AND CASH EQUIVALENTS AT END OF PERIOD 484,808 400,059
Cash paid during the period for:    
Interest 53,827 63,115
Income taxes 16,128 16,050
SUPPLEMENTAL NONCASH DISCLOSURES:    
Mortgage servicing rights capitalized 693 468
Transfers from loans to real estate acquired in settlement of loans   169
Net transfers from loans held for investment to loans held for sale 4,977 68,173
New unfunded obligations in low-income-housing investments 7,000 $ 11,000
Right-of-use assets obtained in exchange for new operating lease liabilities 1,194  
Premises and equipment obtained through the use of vendor credits $ 2,973