v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 158,736 $ 124,375
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 34,000 32,000
Depreciation and amortization 28,368 23,669
Net loss on available-for-sale debt securities 0 1,886
Debt and Equity Securities, Unrealized Gain (Loss) 3,521 (104)
Sales/(purchases) of trading debt securities, net (1,385) 3,888
Loss on redemption of long-term debt 2,157 0
Stock-based compensation expense 27,273 20,377
Proceeds from sales and repayments of loans held for sale 21,333 0
Changes in operating assets and liabilities:    
Accrued interest receivable and other assets (29,275) (66,954)
Accrued interest payable and other liabilities (49,433) (68,204)
Net cash provided by operating activities 191,023 63,365
Investing activities    
Purchases of available-for-sale debt securities (249,549) (700,052)
Proceeds from sales of available-for-sale debt securities 0 280,402
Proceeds from maturities, redemptions and pay-downs of available-for-sale debt securities 348,440 238,840
Proceeds from maturities, redemptions and pay-downs of held-to-maturity debt securities 34,928 35,925
Sales/(purchases) of equity securities, net 2,090 6,465
Originations of loans held for investment, mortgage finance (51,427,658) (43,839,841)
Proceeds from pay-offs of loans held for investment, mortgage finance 51,108,296 43,165,826
Decrease/(increase) in loans held for investment, excluding mortgage finance, net (642,436) (824,215)
Purchase of premises and equipment, net (11,353) (7,960)
Net cash used in investing activities (837,242) (1,644,610)
Financing activities    
Net increase/(decrease) in deposits, net 2,462,621 825,710
Issuance of stock related to stock-based awards (9,201) (6,913)
Dividends, Common Stock, Stock 8,707 0
Preferred stock dividends paid (8,625) (8,625)
Repurchase of common stock (98,709) (52,158)
Net increase/(decrease) in short-term borrowings, net 20,000 365,000
Redemption of long-term debt (509,525) (40,435)
Excess tax benefits from stock-based compensation arrangements 397,515 0
Net cash provided by financing activities 2,245,369 1,082,579
Net increase/(decrease) in cash and cash equivalents 1,599,150 (498,666)
Cash and cash equivalents at beginning of period 2,099,118 3,188,808
Cash and cash equivalents at end of period 3,698,268 2,690,142
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 369,935 386,987
Cash paid during the period for income taxes 67,238 52,813
Transfers of loans from held for investment to held for sale $ 21,333 $ 0