v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income (loss) $ 65,262 $ (217,666)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Provision for allowance for loan losses 5,756 6,600
Depreciation and amortization 15,593 10,489
Accretion of deferred loan fees and premiums, net (14,867) (9,552)
Deferred income tax expense (benefit) 7,367 (64,905)
Accretion of investment security premiums and discounts, net (1,913) (1,182)
Right-of-use asset amortization 3,390 3,193
Share-based compensation 4,158 4,752
Increase in cash surrender value of bank-owned life insurance (1,880) (1,383)
Loss on sale of securities available for sale, net 0 269,638
Loss on right-of-use assets, net of gains from modifications 2,949 0
Employee Stock Ownership Plan expense 2,610 2,193
Other (2,880) 286
Loans held for sale:    
Proceeds from sales of loans held for sale 101,126 13,000
Loans originated for sale, net of repayments (101,595) (13,235)
Change in:    
Prepaid pension benefit (1,920) (1,336)
Other assets (30,654) 64,276
Other liabilities (61,975) (17,847)
Net cash (used in) provided by operating activities (9,473) 47,321
Investing activities    
Proceeds from sales of securities available for sale 0 1,339,345
Proceeds from maturities and principal paydowns of securities available for sale 111,438 83,693
Purchases of securities available for sale (167,861) (1,330,852)
Proceeds from maturities and principal paydowns of securities held to maturity 7,204 5,621
Purchases of securities held to maturity (94,247) (18,000)
Proceeds from sale of Federal Home Loan Bank stock 38,378 9,352
Purchases of Federal Home Loan Bank stock (63,341) (12,711)
Contributions to low income housing tax credit investments (9,372) (9,227)
Contributions to other equity investments (437) (743)
Distributions from other equity investments 101 125
Net decrease (increase) in outstanding loans 167,848 (146,144)
Purchases of banking premises and equipment (3,054) (1,801)
Proceeds from life insurance policies 487 0
Net cash used in investing activities (12,856) (81,342)
Financing activities    
Net decrease in demand, savings, interest checking, and money market investment deposit accounts (3,181) (376,826)
Net decrease in time deposits (362,321) (145,412)
Net increase (decrease) in borrowed funds 502,270 (11,270)
Payments for repurchase of common stock (73,354) (46,456)
Proceeds from the exercise of stock options 2,421 0
Dividends declared and paid to common shareholders (28,812) (24,092)
Net cash provided by (used in) financing activities 37,023 (604,056)
Net increase (decrease) in cash, cash equivalents, and restricted cash 14,694 (638,077)
Cash, cash equivalents, and restricted cash at beginning of period 316,869 1,006,880
Cash, cash equivalents, and restricted cash at end of period 331,563 368,803
Cash paid during the period for:    
Interest paid on deposits and borrowings 111,627 68,784
Income taxes paid 1,070 1,000
Non-cash activities    
Net increase in operating lease right-of-use assets and operating lease liabilities relating to lease remeasurements/modifications $ 2,464 $ 1,661