v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 88,778 $ 77,059
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,066 4,453
Amortization of intangible assets 218 1,252
Provision for credit losses 17,273 24,810
Deferred income tax expense 5,448 2,010
Stock-based compensation 3,923 3,739
Unrealized gain on derivative instruments (272) (130)
Net gain on sales of loans and loans held for sale valuation adjustments (1,837) (708)
Net amortization (accretion) of discounts, premiums, and deferred loan fees and costs 127 (394)
Originations and purchases of loans held for sale (36,749) (44,824)
Sales and repayments of loans held for sale 42,998 46,192
Amortization of broker placement fees 191 160
Net (accretion) amortization of premiums and discounts on investment securities (4,155) 1,073
Decrease in accrued interest receivable 968 8,081
Increase in accrued interest payable (1,581) (3,864)
Decrease (increase) in other assets 12,541 (240)
Decrease in other liabilities (10,849) (10,450)
Net cash provided by operating activities 121,088 108,219
Cash flows from investing activities:    
Net repayments on loans held for investment 620 32,663
Proceeds from sales of loans held for investment 0 2,475
Proceeds from sales of repossessed assets 13,153 12,238
Purchases of available-for-sale debt securities (767,685) (12,264)
Proceeds from principal repayments and maturities of available-for-sale debt securities 690,519 347,267
Proceeds from principal repayments of held-to-maturity debt securities 8,046 5,384
Additions to premises and equipment (5,173) (1,485)
Net (purchases) redemptions of equity securities (1,699) 7,276
Net cash (used in) provided by investing activities (62,219) 393,554
Cash flows from financing activities:    
Net decrease in deposits (79,866) (49,685)
Repayments of long-term borrowings (90,000) (229,040)
Proceeds from short-term borrowings 90,000 0
Repurchase of outstanding common stock (54,626) (24,872)
Dividends paid on common stock (32,077) (29,316)
Net cash used in financing activities (166,569) (332,913)
Net (decrease) increase in cash and cash equivalents (107,700) 168,860
Cash and cash equivalents at beginning of year 658,599 1,159,415
Cash and cash equivalents at end of year 550,899 1,328,275
Cash and cash equivalents include:    
Cash and due from banks 549,199 1,327,075
Money market investments 1,700 1,200
Cash and Cash Equivalents, at Carrying Value, Total $ 550,899 $ 1,328,275