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 $ 197,769 $ 165,097
Adjustments reconciling net income to net cash provided by operating activities:    
Depreciation, amortization and accretion, net 16,476 18,459
Net (gains) losses on sale or disposal of premises and equipment (121) 9
Provision for credit losses 24,664 39,878
Net write-downs and (gains) losses on sale of other real estate owned (46) (25)
Share-based compensation expense 6,452 5,642
Amortization of operating lease right of use assets 4,604 5,037
Provision for deferred taxes (3,079) (10,652)
Net gain on securities (40) (12,328)
Originations of mortgage loans held for sale (2,087,452) (2,115,354)
Payments received on mortgage loans held for sale 14,189 7,220
Proceeds from sales of mortgage loans held for sale 2,071,092 1,834,290
Net gains on mortgage loans held for sale (19,163) (22,359)
Originations of SBA loans (22,771) (5,364)
Proceeds from sales of SBA loans 24,135 5,096
Net gains on sale of SBA loans (1,364) (435)
Increase in cash surrender value of bank owned life insurance (6,788) (4,727)
Gain on bank owned life insurance proceeds (12) (1,464)
Gain on sale of mortgage servicing rights (342) (4,713)
Gain on debt redemption 0 (169)
Change attributable to other operating activities (39,979) 18,380
Net cash provided by (used in) operating activities 178,224 (78,482)
Investing Activities    
Purchases of debt securities available-for-sale (475,276) (239,657)
Purchases of debt securities held-to-maturity (13,914) (8,857)
Proceeds from maturities and paydowns of debt securities available-for-sale 307,585 109,314
Proceeds from maturities and paydowns of debt securities held-to-maturity 2,228 1,918
Net increase in other investments (4,455) (13,062)
Net increase in loans (328,390) (754,421)
Purchases of premises and equipment (10,337) (6,712)
Proceeds from sale of premises and equipment 150 243
Proceeds from sales of other real estate owned 3,548 7,240
Proceeds from sale of mortgage servicing rights 0 30,969
Proceeds from bank owned life insurance 56,900 2,576
Net cash used in investing activities (461,961) (870,449)
Financing Activities    
Net increase in deposits 210,227 735,634
Proceeds from other borrowings 2,615,000 3,353,000
Repayment of other borrowings (2,530,119) (2,916,141)
Dividends paid - common stock (27,882) (20,821)
Purchase of treasury shares (33,596) (7,851)
Net cash provided by financing activities 233,630 1,143,821
Net (decrease) increase in cash and cash equivalents (50,107) 194,890
Cash and cash equivalents at beginning of period 1,220,377 1,167,304
Cash and cash equivalents at end of period 1,170,270 1,362,194
Cash paid during the period for:    
Interest 228,903 268,051
Income taxes 98,579 56,060
Loans transferred to other real estate owned 2,894 3,229
Loans transferred from loans held for sale to loans held for investment 5,860 8,058
Right-of-use assets obtained in exchange for new operating lease liabilities 2,363 2,376
Change in unrealized loss on securities available-for-sale, net of tax $ 23,233 $ (2,081)