v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 61,539 $ 37,058
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 5,030 6,306
Depreciation and amortization 7,573 9,273
Net amortization on securities 183 1,422
Amortization of net premium/discount on purchased loans 106 40
Amortization of investments in tax credit funds 513 495
(Gain) loss on sale of securities, net (1) 14,448
Equity method investment loss 2,129 3,561
Deferred income tax expense (benefit) 866 (591)
Stock-based compensation expense 4,920 3,882
Originations of mortgage loans held for sale (64,561) (89,252)
Proceeds from mortgage loans held for sale 65,724 89,580
Gain on mortgage loans held for sale (1,288) (2,463)
Net gain on disposals of premises and equipment 0 (75)
Increase in the cash surrender value of life insurance (489) (633)
Employee Retention Credit received 0 1,863
Net loss on sales and write-downs of other real estate owned 60 652
Net change in operating leases 309 507
Increase in other assets (5,336) (17,758)
Increase (decrease) in other liabilities 15,608 (2,121)
Net cash provided by operating activities 92,885 56,194
Cash flows from investing activities:    
Purchases of securities available for sale (1,626,507) (304,788)
Maturities and pay downs of securities available for sale 1,567,709 91,771
Proceeds from sales and calls of securities available for sale 24,209 214,979
Pay downs of securities carried at fair value 330 315
Redemption of non-marketable equity securities held in other financial institutions 7,297 5,486
Purchases of non-marketable equity securities held in other financial institutions (13,772) (8,875)
Originations of mortgage warehouse loans (5,677,095) (4,864,014)
Proceeds from pay-offs of mortgage warehouse loans 5,616,170 4,638,346
Net (increase) decrease in loans, excluding mortgage warehouse and loans held for sale (345,729) 108,902
Purchase of other intangibles 0 (2,500)
Proceeds from bank-owned life insurance 0 208
Return of capital and other distributions from equity method investments 2,338 673
Return of capital and other distributions from cost method investments 17 19
Capital calls on limited partnership investments (244) (2,324)
Purchase of low-income housing tax credit investments (461) (134)
Purchases of premises and equipment (14,138) (1,778)
Proceeds from sales of premises and equipment 0 111
Proceeds from sales of other real estate owned 532 1,724
Transfers of other real estate owned to other assets 0 168
Net cash used in investing activities (459,344) (121,711)
Cash flows from financing activities:    
Net increase (decrease) in deposits 396,004 (100,084)
Repayments of long-term FHLB advances (564) (141)
Proceeds from short-term FHLB advances 3,845,000 1,315,000
Repayments of short-term FHLB advances (3,720,000) (1,200,000)
Redemption/Repurchase of subordinated indebtedness 0 (72,593)
Proceeds from other short-term borrowings 82,285 116,724
Repayments of other short-term borrowings (82,285) (116,724)
Net (decrease) increase in securities sold under agreements to repurchase (6,608) 524
Dividends paid (12,544) (9,479)
Cash received from exercise of stock options 4,430 534
Common stock repurchased (16,945) (4,382)
Net cash provided by (used in) financing activities 488,773 (70,621)
Net increase (decrease) in cash and cash equivalents 122,314 (136,138)
Cash and cash equivalents at beginning of period 424,217 470,249
Cash and cash equivalents at end of period 546,531 334,111
Interest paid 88,002 109,762
Income taxes paid, total 15,834 25,162
Significant non-cash transactions:    
Unsettled liability for investment purchases recorded at trade date 0 736
Real estate acquired in settlement of loans 657 970
Recognition of operating right-of-use assets 1,423 3,208
Recognition of operating lease liabilities 1,440 3,203
Impairment of right-of-use assets due to branch closures $ (38) $ (332)