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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 123,944 $ 137,271
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization/accretion of premium/discount on securities 14,030 15,110
Depreciation, amortization and accretion 23,096 20,429
Provision for credit losses 34,497 18,767
Gain on mortgage loans sold, net (2,879) (2,053)
Gain on other equity investments, net 2,882 2,360
Stock-based compensation expense 10,340 10,199
Deferred tax expense 10,209 20,690
Losses on dispositions of other real estate and other investments 56 47
Income from equity method investment (16,035) (19,079)
Dividends received from equity method investment 3,601 23,961
Excess tax benefit from stock compensation (2,414) (277)
Gain on commercial loans sold, net (186) (53)
Decrease (increase) in other assets (34,471) 44,525
Increase in other liabilities 30,470 109,102
Net cash provided by operating activities 197,283 359,870
Activities in securities available-for-sale:    
Purchases (165,236) (223,495)
Sales 0 0
Maturities, prepayments and calls 39,236 29,216
Activities in securities held-to-maturity:    
Maturities, prepayments and calls 5,917 17,883
Proceeds from Securities Purchased under Agreements to Resell 3,987 3,404
Increase in loans, net (505,746) (1,266,114)
Purchases of software, premises and equipment (17,316) (35,513)
Proceeds from sales of software, premises and equipment 129 418
Proceeds from sale of other real estate 1,549 253
Proceeds from bank owned life insurance settlements 1,622 0
Proceeds from Life Insurance Policy 141,308 0
Purchase of FHLB stock, net (11,420) (37,065)
Increase in other investments, net (29,730) (52,148)
Net cash used in investing activities (535,700) (1,563,161)
Financing activities:    
Net increase in deposits 862,224 1,217,323
Net decrease in securities sold under agreements to repurchase (8,071) (45,133)
Federal Home Loan Bank: Advances 450,000 2,175,000
Federal Home Loan Bank: Repayments/maturities (450,000) (475,000)
Principal payments of finance lease obligation (93) (73)
Issuance of common stock pursuant to RSA, RSU and PSU agreements, net of shares withheld for taxes (14,427) (3,645)
Exercise of common stock options, net of shares surrendered for taxes (4,137) (2,116)
Common stock dividends paid (17,269) (17,173)
Preferred stock dividends paid (3,798) (3,798)
Net cash provided by financing activities 814,429 2,845,385
Net increase in cash, cash equivalents, and restricted cash 476,012 1,642,094
Cash, cash equivalents, and restricted cash, beginning of period 2,230,349 1,177,382
Cash, cash equivalents, and restricted cash, end of period 2,706,361 2,819,476
Commercial Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (51,031) (106,007)
Loans held-for-sale sold 54,429 104,066
Consumer Loan    
Adjustments to reconcile net income to net cash provided by operating activities:    
Loans held-for-sale originated (466,061) (299,238)
Loans held-for-sale sold $ 468,570 $ 284,770