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 (loss) earnings $ (169,395) $ 81,953
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:    
Depreciation and amortization 24,379 25,369
Amortization of net premiums on investment securities 9,073 10,034
Accretion of net purchased loan discounts and deferred loan fees (31,587) (42,852)
Amortization of intangible assets 12,883 14,319
Amortization of operating lease ROU assets 11,681 11,750
Provision for credit losses 171,580 48,400
Loss (gain) on sale of foreclosed assets 184 (115)
Provision for losses on foreclosed assets 50 633
Gain on sale of loans and leases (13) (241)
Loss on sale of premises and equipment 1 0
Loss on securities AFS 256,749 0
Unrealized (gain) loss on derivatives, foreign currencies, and credit-linked notes, net (1,015) 271
LOCOM HFS adjustment 12,547 9
Earned stock compensation 9,832 11,932
(Increase) decrease in other assets (160,754) 28,605
Increase (decrease) in accrued interest payable and other liabilities 64,217 (112,231)
Net cash provided by operating activities 210,412 77,836
Cash flows from investing activities:    
Net increase in loans and leases (216,430) (949,050)
Proceeds from sales of loans and leases 146,538 32,421
Proceeds from maturities and paydowns of securities AFS 264,169 209,739
Proceeds from sales of securities AFS 2,209,843 0
Purchases of securities AFS (2,291,503) (166,865)
Proceeds from maturities and paydowns of securities HTM 748 614
Purchases of FHLB and FRB stock (26,565) (16,256)
Redemptions of FHLB and FRB stock 5,655 1,786
Proceeds from sales of foreclosed assets 2,666 7,068
Purchases of premises and equipment (6,000) (2,794)
Proceeds from BOLI death benefit 7,957 0
Net decrease in equipment leased to others under operating leases 9,316 5,055
Net cash provided by (used in) investing activities 106,394 (878,282)
Cash flows from financing activities:    
Net decrease in noninterest-bearing deposits (64,668) (278,797)
Net increase in interest-bearing deposits 342,493 615,321
Repayments of borrowings (393,282) (176,184)
Proceeds from borrowings 789,815 700,000
Redemption of subordinated debt (385,000) 0
Common shares repurchased under Stock Repurchase Program (32,171) (151,845)
Common shares purchased under Dividend Reinvestment Plan 0 144
Restricted stock surrendered (6,234) (3,387)
Preferred stock dividends paid (19,894) (19,894)
Common stock dividends paid (37,775) (33,572)
Net cash provided by financing activities 193,284 651,786
Net decrease in cash, cash equivalents, and restricted cash 510,090 (148,660)
Cash, cash equivalents, and restricted cash, beginning of period 2,307,965 2,502,212
Cash, cash equivalents, and restricted cash, end of period 2,818,055 2,353,552
Supplemental disclosures of cash flow information:    
Cash paid for interest 324,837 373,260
Cash paid (received) for income taxes 24,599 (8,164)
Loans transferred to foreclosed assets 2,104 5,673
Transfers from loans HFI to loans HFS 813,181 441,248
Transfers from securities HTM to securities AFS $ 2,317,572 $ 0