v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 262,441 $ 229,585
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 51,000 44,000
Depreciation and amortization 40,068 36,291
Net loss on available-for-sale debt securities 0 1,886
Debt and Equity Securities, Unrealized Gain (Loss) 4,773 2,265
Sales/(purchases) of trading debt securities, net (3,924) 2,219
Loss on redemption of long-term debt 2,157 0
Stock-based compensation expense 35,125 28,614
Sales/(purchases) of loans held for sale, net (2,982) 0
Changes in operating assets and liabilities:    
Accrued interest receivable and other assets (32,319) (39,949)
Accrued interest payable and other liabilities 43,647 (66,283)
Net cash provided by operating activities 398,288 229,660
Investing activities    
Purchases of available-for-sale debt securities (877,772) (843,190)
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 533,969 385,694
Proceeds from maturities, redemptions and pay-downs of held-to-maturity debt securities 55,181 55,555
Sales/(purchases) of equity securities, net 4,764 22,472
Originations of loans held for investment, mortgage finance (74,373,445) (71,110,334)
Proceeds from pay-offs of loans held for investment, mortgage finance 74,995,775 70,268,104
Decrease/(increase) in loans held for investment, excluding mortgage finance, net (734,430) (936,069)
Purchase of premises and equipment, net (10,498) (12,910)
Net cash used in investing activities (406,456) (1,890,276)
Financing activities    
Net increase/(decrease) in deposits, net 1,266,888 2,266,799
Issuance of stock related to stock-based awards (9,718) (7,559)
Dividends, Common Stock, Stock 17,295 0
Preferred stock dividends paid (12,938) (12,938)
Repurchase of common stock (201,718) (59,234)
Net increase/(decrease) in short-term borrowings, net (330,000) (610,000)
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 583,209 1,536,633
Net increase/(decrease) in cash and cash equivalents 575,041 (123,983)
Cash and cash equivalents at beginning of period 2,099,118 3,188,808
Cash and cash equivalents at end of period 2,674,159 3,064,825
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 541,377 580,591
Cash paid during the period for income taxes 100,163 67,402
Transfers of loans from held for investment to held for sale $ 21,333 $ 0