v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Operating Activities      
Net income $ 118,209 $ 115,209  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation & amortization 7,456 7,190  
Decrease (increase) in value of equity securities 1,248 (442)  
Increase in value of equity method investments (1,321) (4,895)  
Increase in value of foreclosed assets 0 (1,253)  
Amortization of securities, net 2,985 3,347  
Accretion of purchased loans (1,061) (1,378)  
Share-based compensation 3,213 2,800  
Gain (loss) on assets (712) 251  
Provision for credit losses - loans 1,500 0 $ 24,100
Recovery of credit losses - unfunded commitments (1,000) 0  
Deferred income tax effect 8,166 6,437  
Increase in cash value of life insurance (1,368) (1,842)  
Originations of mortgage loans held for sale (156,716) (139,120)  
Proceeds from sales of mortgage loans held for sale 158,832 129,068  
Changes in assets and liabilities:      
Accrued interest receivable 2,311 4,146  
Other assets 1,099 (28,578)  
Accrued interest payable and other liabilities 7,994 26,074  
Net cash provided by operating activities 150,835 117,014  
Investing Activities      
Net increase in federal funds sold (3,025) (2,550)  
Net decrease (increase) in loans 47,238 (177,767)  
Purchases of investment securities – available-for-sale (25,802) 0  
Proceeds from maturities of investment securities – available-for-sale 73,110 107,669  
Proceeds from maturities of investment securities – held-to-maturity 2,765 5,319  
Redemption of other investments 2,255 3,184  
Purchases for improvements to foreclosed assets (161) 0  
Proceeds from sale of foreclosed assets 1,459 6,229  
Proceeds from sale of SBA loans 1,285 4,308  
Purchases of premises and equipment (11,579) (6,884)  
Proceeds from sale of premises and equipment 1,468 2,913  
Net cash provided by (used in) investing activities 89,013 (57,579)  
Financing Activities      
Net increase in deposits 258,318 395,194  
Net increase (decrease) in securities sold under agreements to repurchase 1,606 (949)  
Decrease in FHLB and other borrowed funds 0 (250)  
Proceeds from exercise of stock options, net 0 527  
Repurchase of common stock (13,893) (29,816)  
Dividends paid on common stock (41,293) (38,758)  
Net cash provided by financing activities 204,738 325,948  
Net change in cash and cash equivalents 444,586 385,383  
Cash and cash equivalents – beginning of year 667,337 910,347 1,295,730
Cash and cash equivalents – end of period $ 1,111,923 $ 1,295,730 $ 667,337