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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 57,735 $ 174,416
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,941 15,626
Provision for loan and lease credit losses 42,328 21,272
Amortization of premium on securities, net of accretion 63 3,019
Deferred tax (benefit) expense (13,164) 17,258
Originations of loans held for sale (642,722) (787,633)
Proceeds from sales of loans held for sale 985,287 796,286
Net gains on sale of loans held for sale (33,654) (35,882)
Net loss on sale of foreclosed assets 0 49
Net loss (gain) on loans accounted for under fair value option 3,369 (475)
Net (increase) decrease in servicing assets (20,804) 4,493
Net loss on disposal of property and equipment 377 31
Equity method investments loss (income) 6,041 (146,068)
Equity security investments losses (gains), net 585 (2,487)
Renewable energy tax credit investment impairment 69 7,771
Stock option compensation expense 272 886
Restricted stock compensation expense 12,431 14,189
Stock based compensation excess tax (shortfall) benefit (915) 876
Lease right-of-use assets and liabilities, net (52) 252
Changes in assets and liabilities:    
Other assets 37,571 12,377
Other liabilities (933) 2,072
Net cash provided by operating activities 449,825 98,328
Cash flows from investing activities    
Purchases of investment securities available-for-sale (198,676) (360,058)
Proceeds from maturities, calls, and principal paydown of investment securities available-for-sale 79,241 129,840
Proceeds from SBA reimbursement/sale of foreclosed assets, net 0 432
Maturities of certificates of deposits with other banks 250 500
Loan and lease originations and principal collections, net (1,240,536) (746,991)
Purchases of equity security investments (3,359) (9,213)
Purchases of equity method investments (5,094) (30,178)
Proceeds from sale of equity security investment 0 369
Proceeds from sale of equity method investments 6,878 147,713
Proceeds from sale of premises and equipment 100 0
Purchases of premises and equipment, net (25,231) (35,631)
Net cash used by investing activities (1,386,427) (903,217)
Cash flows from financing activities    
Net increase in deposits 1,118,714 1,292,865
Proceeds from borrowings 2,906,056 12,074
Repayment of borrowings (2,963,412) (294,747)
Stock option exercises 926 1,650
Employee stock purchase program 1,396 1,066
Withholding cash issued in lieu of restricted stock and other (4,950) (4,453)
Shareholder dividend distributions (3,990) (3,946)
Net cash provided by financing activities 1,054,740 1,004,509
Net increase in cash and cash equivalents 118,138 199,620
Cash and cash equivalents, beginning 416,636 203,750
Cash and cash equivalents, ending 534,774 403,370
Supplemental disclosures of cash flow information    
Interest paid 245,091 66,975
Income tax paid, net 1,689 17,128
Supplemental disclosures of noncash investing and financing activities    
Unrealized holding losses on investment securities available-for-sale, net of taxes (26,002) (97,188)
Transfers from loans and leases to foreclosed assets or SBA receivable 34,864 14,880
Net transfers between foreclosed assets and SBA receivable 0 139
Transfer aircraft from premises and equipment, net to other assets 14,177 0
Transfer of loans held for sale to loans and leases held for investment 65,734 843,639
Transfer of loans and leases held for investment to loans held for sale 458,868 356,429
Transfer from retained earnings to other assets for pro rata portion of equity method investee stock compensation expense 841 415
Equity method investment commitments 7,721 14,732
Equity security investment commitments $ 0 $ 394