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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 $ 60,421 $ 81,698
Adjustments reconciling net income to net cash provided by (used in) operating activities:    
Depreciation 4,648 4,553
Net losses on sale or disposal of premises and equipment 15 37
Provision for credit losses 49,729 6,231
Net write-downs and (gains) losses on sale of other real estate owned (49) (1,459)
Share-based compensation expense 2,197 1,499
Amortization of intangible assets 4,706 5,181
Amortization of operating lease right of use assets 2,872 2,904
Provision for deferred taxes (2,807) 6,435
Net (accretion) amortization of investment securities available-for-sale (1,417) 392
Net (accretion) amortization of investment securities held-to-maturity (39) 26
Net amortization of other investments 388 252
Net (gain) loss on securities (6) 27
Accretion of discount on purchased loans, net (420) (1,006)
Net amortization on other borrowings 627 108
Amortization of subordinated deferrable interest debentures 498 499
Loan servicing asset recovery 0 (9,654)
Originations of mortgage loans held for sale (754,727) (1,220,771)
Payments received on mortgage loans held for sale 3,661 10,505
Proceeds from sales of mortgage loans held for sale 748,633 1,464,735
Net (gains) losses on sale of mortgage loans held for sale (2,919) 22,792
Originations of SBA loans (8,873) (14,042)
Proceeds from sales of SBA loans 5,648 20,461
Net gains on sale of SBA loans (175) (2,325)
Increase in cash surrender value of bank owned life insurance (2,200) (1,768)
Gain on bank owned life insurance proceeds (486) 0
Change attributable to other operating activities 21,776 (16,887)
Net cash provided by operating activities 131,701 360,423
Investing Activities, net of effects of business combinations    
Purchases of securities available-for-sale 0 (15,667)
Purchases of investment securities held-to-maturity 0 (12,036)
Proceeds from maturities and paydowns of securities available-for-sale 19,280 42,844
Proceeds from maturities and paydowns of securities held-to-maturity 728 406
Net increase in other investments (36,105) (2,122)
Net increase in loans (153,072) (205,189)
Purchases of premises and equipment (3,258) (3,550)
Proceeds from sales of other real estate owned 1,042 3,524
Proceeds from bank owned life insurance 1,890 0
Net cash and cash equivalents paid in acquisitions 0 (13,237)
Net cash used in investing activities (169,495) (205,027)
Financing Activities, net of effects of business combinations    
Net increase (decrease) in deposits 434,717 (77,112)
Net decrease in securities sold under agreements to repurchase 0 (3,780)
Proceeds from other borrowings 6,655,000 0
Repayment of other borrowings (6,130,036) (314,467)
Proceeds from exercise of stock options 476 1,445
Dividends paid - common stock (10,584) (10,445)
Purchase of treasury shares (9,058) (17,234)
Net cash provided by (used in) financing activities 940,515 (421,593)
Net increase (decrease) in cash, cash equivalents and restricted cash 902,721 (266,197)
Cash, cash equivalents and restricted cash at beginning of period 1,118,132 4,064,657
Cash, cash equivalents and restricted cash at end of period 2,020,853 3,798,460
Cash paid (received) during the period for:    
Interest 76,589 9,022
Income taxes (1) 204
Loans transferred to other real estate owned 1,652 165
Loans transferred from loans held for sale to loans held for investment 5,734 71,727
Right-of-use assets obtained in exchange for new operating lease liabilities 1,942 1,537
Assets acquired in business acquisitions 0 10,023
Liabilities assumed in business acquisitions 0 (3,214)
Change in unrealized loss on securities available-for-sale, net of tax 10,926 (17,431)
Security purchases settled in a subsequent period $ 0 $ (36,216)