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Condensed Consolidated Statements of Cash Flows
$ in Thousands
6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Cash flows from operating activities:    
Goodwill impairment $ 1,376,736 $ 0
Net (loss) earnings (1,392,838) 242,488
Depreciation and amortization 27,622 26,946
Amortization of net premiums on investment securities 19,281 29,742
Amortization of intangible assets 4,800 7,298
Amortization of operating lease ROU assets 14,580 15,100
Provision for credit losses 5,000 11,500
Gain on sale of foreclosed assets (210) (3,170)
Provision for losses on foreclosed assets 685 0
Loss (gain) on sale of loans and leases 155,919 (72)
Gain on sale of premises and equipment (5) (5)
Loss on sale of securities 0 1,105
Gain on BOLI death benefit (416) 0
Unrealized gain on derivatives, foreign currencies, and credit-linked notes, net (1,682) (1,330)
LOCOM HFS Adjustment 11,943 0
Earned stock compensation 13,917 17,255
Business Combination, Integration Related Costs 70 0
Increase in other assets (181,990) (24,626)
Increase (decrease) in accrued interest payable and other liabilities 30,548 (50,662)
Net cash provided by operating activities 83,960 271,569
Cash flows from investing activities:    
Net decrease (increase) in loans and leases 437,585 (3,600,769)
Proceeds from sales of loans and leases 5,283,557 41,089
Proceeds from maturities and paydowns of securities available-for-sale 131,475 417,760
Proceeds from sales of securities available-for-sale 0 598,415
Purchases of securities available-for-sale (5,836) (374,921)
Proceeds from maturities and paydowns of securities held-to-maturity 568 82
Net redemptions (purchases) of Federal Home Loan Bank stock 17,040 (15,960)
Proceeds from sales of foreclosed assets 5,346 16,317
Purchases of premises and equipment, net (9,245) (10,423)
Proceeds from sales of premises and equipment 13 9
Proceeds from BOLI death benefit 3,567 555
Net decrease (increase) in equipment leased to others under operating leases 5,770 (3,196)
Net cash provided by (used in) investing activities 5,869,840 (2,931,042)
Cash flows from financing activities:    
Net decrease in noninterest-bearing deposits (5,156,999) (1,205,104)
Net (decrease) increase in interest-bearing deposits (882,252) 175,499
Proceeds from (Repayments of) Debt 4,598,891 1,592,000
Net proceeds from preferred stock offering 0 498,516
Restricted stock surrendered (5,072) (8,770)
Preferred stock dividends paid (19,894) 0
Common stock dividends paid (30,549) (59,998)
Net cash (used in) provided by financing activities (1,495,875) 992,143
Net increase (decrease) in cash, cash equivalents, and restricted cash 4,457,925 (1,667,330)
Cash, cash equivalents, and restricted cash, beginning of period 2,240,222 4,057,234
Cash, cash equivalents, and restricted cash, end of period 6,698,147 2,389,904
Supplemental disclosures of cash flow information:    
Cash paid for interest 467,830 38,596
Cash paid for income taxes 1,143 76,037
Loans transferred to foreclosed assets 9,225 304
Transfer of Portfolio Loans and Leases to Held-for-sale 3,076,427 0
Loan, Transfer from Held-for-Sale to Held-in-Portfolio 370,375 0
Liabilities 35,804,055  
Transfer of securities available-for-sale to held-to-maturity $ 0 $ 2,260,407