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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended 18 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Jun. 30, 2023
Cash Flows from Operating Activities            
Net income $ 93,220 $ 88,978 $ 189,227 $ 164,006   $ 189,200
Adjustments to reconcile net income to net cash provided by operating activities:            
Provision for credit losses 9,155 2,500 17,255 11,143    
Deferred tax benefit     (9,132) (1,607)    
Depreciation and amortization     4,407 4,575    
Amortization of right-of-use asset     4,768 5,038    
Change in operating lease liabilities     1,352 (1,976)    
Net gains on sale and transfer of other real estate owned     0 (6)    
Net gains on sale of loans     0 (1)    
Proceeds from sales of loan     0 33    
Loss on sales or disposal of fixed assets     6 25    
Amortization on alternative energy partnerships, venture capital and other investments     37,340 15,522    
Net gain on sales of equity securities     (14) (101)    
Amortization/accretion of security premiums/discounts, net     (2,964) 2,231    
Unrealized gain on equity securities (10,700) (1,000) (15,516) (4,919)    
Write-off of AFS debt securities     3,000 0    
Stock-based compensation and stock issued to officers as compensation     3,808 4,216    
Net change in accrued interest receivable and other assets     (50,971) (39,269)    
Net change in other liabilities     29,281 18,538    
Net cash provided by operating activities     211,847 177,448    
Cash Flows from Investing Activities            
Purchase of investment securities available-for-sale     (180,216) (304,445)    
Proceeds from repayments, maturities and calls of investment securities available-for-sale     173,010 92,789    
Proceeds from sale of equity securities     0 553    
Benefits received from bank owned life insurance policies     0 1,656    
Purchase of Federal Home Loan Bank stock     (15,422) 0    
Redemption of Federal Home Loan Bank stock     7,430 0    
Net increase in loans     (705,534) (803,082)    
Purchase of premises and equipment     (962) (2,229)    
Proceeds from sales of other real estate owned     0 307    
Net (increase)/decrease in investment in affordable housing and alternative energy partnerships     (24,329) 1,467    
Acquisition, net of cash acquired     0 (73,882)    
Net cash used for investing activities     (746,023) (1,086,866)    
Cash Flows from Financing Activities            
Increase/(decrease) in deposits     591,689 (346,646)    
Net Advances from Federal Home Loan Bank     330,000 75,000    
Cash dividends paid     (49,266) (51,052)    
Purchases of treasury stock     (16,692) (63,484)    
Proceeds from shares issued under Dividend Reinvestment Plan     1,835 1,873   1,800
Taxes paid related to net share settlement of RSUs     (3,527) (2,015)    
Net cash provided/(used) by financing activities     854,039 (386,324)    
Increase/(decrease) in cash, cash equivalents, and restricted cash     319,863 (1,295,742)    
Cash, cash equivalents, and restricted cash, beginning of the period     1,162,402 2,449,704 $ 2,449,704 2,449,704
Cash, cash equivalents, and restricted cash, end of the period $ 1,482,265 $ 1,153,962 1,482,265 1,153,962 $ 1,162,402 $ 1,482,265
Supplemental disclosure of cash flow information            
Interest     203,611 26,670    
Income taxes paid     48,712 40,181    
Non-cash investing and financing activities:            
Net change in unrealized holding gain/(loss) on securities available-for-sale, net of tax     4,128 (72,421)    
Net change in unrealized holding (loss)/gain on cash flow hedge derivatives     (882) 4,158    
Loans transferred from held-for-investment to held-for-sale     $ 0 $ 32