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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Jun. 30, 2021
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income $ 91,157 $ 88,354 $ 116,143 $ 107,737
Adjustments to reconcile net income to net cash provided by operating activities:        
Amortization of investment premiums, net 1,106     4,455
Gain on sale of investment securities, net (2)     (4)
Provision for credit losses 4,804     0
Change in cash surrender value of bank owned life insurance (2,122)     (2,105)
Depreciation, amortization and accretion 7,613     7,759
Gain on sale of premises and equipment (571)     (149)
Additions to residential mortgage servicing rights carried at fair value (7,390)     (14,065)
Change in fair value of residential mortgage servicing rights carried at fair value (34,802)     6,559
Stock-based compensation 2,454     2,964
Net increase in equity and other investments (413)     (400)
Loss on equity securities, net 2,661     706
Gain on sale of loans and leases, net (4,458)     (50,194)
Change in fair value of loans held for sale 11,055     24,118
Origination of loans held for sale (649,122)     (1,635,532)
Proceeds from sales of loans held for sale 683,347     1,837,626
Change in other assets and liabilities:        
Net decrease in other assets 167,911     128,221
Net increase (decrease) in other liabilities 2,097     (25,683)
Net cash provided by operating activities 275,325     392,013
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of investment securities available for sale (131,869)     (555,269)
Proceeds from investment securities available for sale 126,011     227,122
Redemption of restricted equity securities 28     19,615
Net change in loans and leases (470,337)     (267,940)
Proceeds from sales of loans and leases 44,549     82,529
Change in premises and equipment (3,736)     (4,007)
Proceeds from bank owned life insurance death benefits 1,111     2,708
Other 104     129
Net cash used in investing activities (434,139)     (495,113)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Net increase in deposit liabilities 104,906     1,264,645
Net increase in securities sold under agreements to repurchase 7,292     45,018
Repayment of borrowings 0     (490,000)
Dividends paid on common stock (45,532)     (46,248)
Repurchase and retirement of common stock (4,037)     (2,315)
Net cash provided by financing activities 62,629     771,100
Net (decrease) increase in cash and cash equivalents (96,185)     668,000
Cash and cash equivalents, beginning of period 2,761,621   $ 3,241,181 2,573,181
Cash and cash equivalents, end of period 2,665,436 $ 2,761,621   3,241,181
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:        
Interest 7,667     15,434
Income taxes 6,051     36,404
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:        
Changes in unrealized gains and losses on investment securities available for sale, net of taxes (176,079)     (64,883)
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes (9,436)     (19,730)
Transfer of loans held for sale to loans $ 0     $ 212,353