v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net income from continuing operations $ 69,653 $ 12,912
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 23,372 28,297
Depreciation and amortization 14,235 15,639
Share-based compensation expense 5,728 4,246
Deferred taxes 3,338 (24,941)
Net amortization (accretion) of investment securities premiums and discounts (991) (725)
Unrealized (gain) loss on investment securities 86 (160)
Impairment loss on debt securities 0 51,319
Net (gain) loss on sale of investment securities (355) 0
Unrealized (gain) loss on derivatives 11 (712)
Fair value adjustment on loans held for sale (347) 667
Fair value adjustment on loans held for investment 231 0
Net (gain) loss on sale of loans and leases (1,044) (2)
Origination and purchases of loans held for sale (171,423) (299,808)
Proceeds from sales and repayments of loans held for sale 185,771 326,356
Amortization (accretion) of loan net deferred fees, discounts and premiums (7,266) (4,365)
Earnings on investment in bank-owned life insurance (3,084) (4,660)
(Increase) decrease in accrued interest receivable and other assets (28,043) (10,470)
Increase (decrease) in accrued interest payable and other liabilities (54,802) 528
Net Cash Provided By (Used In) Operating Activities 35,070 94,121
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities available for sale 130,026 99,521
Proceeds from maturities, calls and principal repayments of investment securities held to maturity 66,601 69,058
Proceeds from sales of investment securities available for sale 41,296 0
Purchases of investment securities available for sale (225,464) (156,689)
Purchases of investment securities held to maturity 0 (14,022)
Origination of mortgage finance loans (7,335,209) (5,329,199)
Proceeds from repayments of mortgage finance loans 7,203,610 5,287,252
Net (increase) decrease in loans and leases, excluding mortgage finance loans (457,955) (337,435)
Proceeds from sales of loans and leases 19,194 1,081
Purchases of loans (57,826) (106,020)
Purchases of bank-owned life insurance 0 (1,462)
Proceeds from bank-owned life insurance 1,431 5,102
Net purchases from sale of FHLB, Federal Reserve Bank, and other restricted stock (7,469) (544)
Purchases of bank premises and equipment (49) (686)
Proceeds from sales of leased assets under lessor operating leases 434 413
Purchases of leased assets under lessor operating leases (4,905) (16,398)
Net Cash Provided By (Used In) Investing Activities (626,285) (500,028)
Cash Flows from Financing Activities    
Net increase (decrease) in deposits 824,059 66,911
Net increase (decrease) in federal funds purchased 70,000 0
Proceeds from long-term borrowed funds from FHLB and FRB 420,000 100,000
Repayments of long-term borrowed funds from FHLB and FRB (180,000) (100,000)
Repayments of subordinated long-term debt (110,000) 0
Preferred stock dividends paid 0 (3,434)
Purchase of treasury stock (42,742) (5,641)
Payments of employee taxes withheld from share-based awards (3,607) (9,815)
Proceeds from issuance of common stock 246 645
Net Cash Provided By (Used In) Financing Activities 977,956 48,666
Net Increase (Decrease) in Cash and Cash Equivalents 386,741 (357,241)
Cash and Cash Equivalents – Beginning 4,411,463 3,785,931
Cash and Cash Equivalents – Ending 4,798,204 3,428,690
Non-cash Investing and Financing Activities:    
Transfer of loans held for sale to held for investment $ 674 $ 135,815