v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 229,585 $ 6,485
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 44,000 49,000
Depreciation and amortization 36,291 38,917
Net loss on available-for-sale debt securities 1,886 179,581
Debt and Equity Securities, Unrealized Gain (Loss) 2,265 6,727
Sales/(purchases) of trading securities, net (2,219) 0
Stock-based compensation expense 28,614 21,208
Proceeds from sales and repayments of loans held for sale 0 53,494
Changes in operating assets and liabilities:    
Accrued interest receivable and other assets (39,949) (60,683)
Accrued interest payable and other liabilities (66,283) 180,584
Net cash provided by operating activities 229,660 461,859
Investing activities    
Purchases of available-for-sale debt securities (843,190) (1,793,339)
Proceeds from sales of available-for-sale debt securities 280,402 1,057,159
Proceeds from maturities, redemptions and pay-downs of available-for-sale debt securities 385,694 514,159
Proceeds from maturities, redemptions and pay-downs of held-to-maturity debt securities 55,555 55,696
Sales/(purchases) of equity securities, net 22,472 (15,874)
Originations of loans held for investment, mortgage finance (71,110,334) (60,379,814)
Proceeds from pay-offs of loans held for investment, mortgage finance 70,268,104 58,828,483
Net increase in loans held for investment, excluding mortgage finance loans (936,069) (446,916)
Purchase of premises and equipment, net (12,910) (57,435)
Net cash used in investing activities (1,890,276) (2,237,881)
Financing activities    
Net increase in deposits 2,266,799 3,493,416
Issuance of stock related to stock-based awards (7,559) (9,187)
Preferred stock dividends paid (12,938) (12,938)
Repurchase of common stock (59,234) (81,534)
Net decrease in short-term borrowings (610,000) (465,000)
Redemption of long-term debt (40,435) (200,000)
Net cash provided by financing activities 1,536,633 2,724,757
Net increase/(decrease) in cash and cash equivalents (123,983) 948,735
Cash and cash equivalents at beginning of period 3,188,808 3,242,850
Cash and cash equivalents at end of period 3,064,825 4,191,585
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 580,591 672,199
Cash paid during the period for income taxes 67,402 48,040
Transfers of loans from held for investment to held for sale $ 0 $ 18,411