v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 129,744 $ 103,519
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, accretion and other, net 7,022 24,479
Stock-based compensation expense 5,487 4,430
Provision (release) for credit losses 7,500 2,750
Loss (gain) on sale of investment securities 0 (20)
Net realized (gain) loss on sales of premises, equipment, and real estate owned (3,865) (601)
Impairment loss on premises and equipment 0 35
Decrease (increase) in accrued interest receivable (267) 1,049
Decrease (increase) in federal and state income tax receivable 7,297 (2,118)
Decrease (increase) in cash surrender value of bank owned life insurance (3,938) (3,688)
Decrease (increase) in other assets 44,870 (12,713)
Increase (decrease) in federal and state income tax liabilities 470 0
Increase (decrease) in accrued expenses and other liabilities (54,462) 4,443
Net cash provided by (used in) operating activities 139,858 121,565
CASH FLOWS FROM INVESTING ACTIVITIES    
Origination of loans and principal repayments, net 105,155 117,160
Loans purchased (10,198) (137,564)
FHLB stock purchased (362,781) (242,203)
FHLB stock redeemed 304,498 203,857
Available-for-sale securities purchased (1,067,724) (809,552)
Principal payments and maturities of available-for-sale securities 247,515 239,903
Proceeds from sales of available-for-sale securities 0 797
Held-to-maturity securities purchased (141,063) (114,182)
Principal payments and maturities of held-to-maturity securities 41,409 24,619
Proceeds from sales of real estate owned 3,945 2,865
Equity method investments purchased 0 (3,575)
Net cash received (paid) in business combinations (5,400) (360)
Proceeds from sales of premises and equipment 3,756 1,689
Premises and equipment purchased and REO improvements (21,851) (12,000)
Net cash provided by (used in) investing activities (902,739) (728,546)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in customer accounts (313,485) 53,456
Proceeds from borrowings 8,000,750 5,368,400
Repayments of borrowings (6,705,750) (5,876,500)
Proceeds from stock-based awards 963 2,951
Dividends paid on common stock (40,519) (42,541)
Dividends paid on preferred stock (7,313) (7,313)
Proceeds from employee stock purchases 437 472
Treasury stock purchased (145,224) (24,751)
Increase (decrease) in advances payments by borrowers for taxes and insurance (14,489) (16,834)
Net cash provided by (used in) financing activities 775,370 (542,660)
Increase (decrease) in cash and cash equivalents 12,489 (1,149,641)
Cash, cash equivalents and restricted cash at beginning of period 657,310 2,381,102
Cash, cash equivalents and restricted cash at end of period 669,799 1,231,461
Non-cash investing activities    
Real estate acquired through foreclosure 20,562 5,095
Accounts payable related to subsidiary assets and intangibles acquired 2,050 0
Non-cash financing activities    
Preferred stock dividend payable 3,656 3,656
Cash paid (received) during the period for    
Interest 274,913 406,332
Income tax $ 20,639 $ 23,106