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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 137,271 $ 129,110
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization/accretion of premium/discount on securities 15,110 16,048
Depreciation, amortization and accretion 20,429 14,367
Provision for credit losses 18,767 2,720
Gain on mortgage loans sold, net (2,053) (4,066)
Investment losses on sales, net 0 61
Gain on other equity investments, net 2,360 1,710
Stock-based compensation expense 10,199 9,448
Deferred tax expense 20,690 15,680
Losses (gains) on dispositions of other real estate and other investments 47 (20)
Gain on remeasurement of previously held noncontrolling interest 0 (5,500)
Income from equity method investment (19,079) (33,655)
Dividends received from equity method investment 23,961 12,232
Excess tax benefit from stock compensation (277) (2,639)
Gain on commercial loans sold, net (53) (488)
Decrease in other assets 44,525 33,554
Increase (decrease) in other liabilities 109,102 (98,465)
Net cash provided by operating activities 359,870 52,115
Activities in securities available-for-sale:    
Purchases (223,495) (45,579)
Sales 0 2,866
Maturities, prepayments and calls 29,216 93,330
Activities in securities held-to-maturity:    
Purchases 0 (374,043)
Maturities, prepayments and calls 17,883 15,391
Proceeds from Securities Purchased under Agreements to Resell 3,404  
Net decrease (increase) in securities purchased under agreements to resell   (332,753)
Increase in loans, net (1,266,114) (1,062,733)
Purchases of software, premises and equipment (35,513) (10,072)
Proceeds from sales of software, premises and equipment 418 172
Proceeds from sale of other real estate 253 319
Purchase of bank owned life insurance policies 0 (75,000)
Purchase of FHLB stock, net (37,065)  
Purchase of FHLB stock, net   0
Acquisition, net of cash acquired 0 30,415
Increase in other investments, net (52,148) (18,777)
Net cash used in investing activities (1,563,161) (1,837,294)
Financing activities:    
Net increase in deposits 1,217,323 995,940
Net increase (decrease) in securities sold under agreements to repurchase (45,133) 66,971
Federal Home Loan Bank: Advances 2,175,000 0
Federal Home Loan Bank: Repayments/maturities (475,000) 0
Repayments of other borrowings 0 (29,547)
Principal payments of finance lease obligation (73) (67)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes (3,645) (5,461)
Exercise of common stock options, net of shares surrendered for taxes (2,116) (3,641)
Common stock dividends paid (17,173) (16,976)
Preferred stock dividends paid (3,798) (3,798)
Net cash provided by financing activities 2,845,385 1,003,421
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,642,094 (781,758)
Cash, cash equivalents, and restricted cash, beginning of period 1,177,382 4,101,539
Cash, cash equivalents, and restricted cash, end of period 2,819,476 3,319,781
Commercial Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (106,007) (111,411)
Loans held-for-sale sold 104,066 94,201
Consumer Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (299,238) (417,668)
Loans held-for-sale sold $ 284,770 $ 400,316