v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 73,788 $ 47,047
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 16,000 17,000
Depreciation and amortization 12,816 9,217
Debt and Equity Securities, Unrealized Gain (Loss) 1,646 (2,052)
Sales/(purchases) of trading debt securities, net (3,958) (1,824)
Stock-based compensation expense 17,499 12,750
Changes in operating assets and liabilities:    
Accrued interest receivable and other assets 16,089 4,604
Accrued interest payable and other liabilities (43,059) (90,478)
Net cash provided by operating activities 87,529 368
Investing activities    
Purchases of available-for-sale debt securities (134,520) (198,597)
Proceeds from maturities, redemptions and pay-downs of available-for-sale debt securities 153,484 97,698
Proceeds from maturities, redemptions and pay-downs of held-to-maturity debt securities 16,907 17,659
Sales/(purchases) of equity securities, net 1,620 1,546
Originations of loans held for investment, mortgage finance (23,599,090) (18,466,846)
Proceeds from pay-offs of loans held for investment, mortgage finance 22,701,423 18,956,879
Decrease/(increase) in loans held for investment, excluding mortgage finance, net (280,484) (429,548)
Purchase of premises and equipment, net (1,357) (2,416)
Net cash used in investing activities (1,142,017) (23,625)
Financing activities    
Net increase/(decrease) in deposits, net 2,067,921 814,435
Issuance of stock related to stock-based awards (9,560) (7,048)
Preferred stock dividends paid (4,313) (4,313)
Repurchase of common stock (75,141) (31,152)
Net increase/(decrease) in short-term borrowings, net (330,000) (135,000)
Redemption of long-term debt (134,525) 0
Excess tax benefits from stock-based compensation arrangements 397,599 0
Net cash provided by financing activities 1,911,981 636,922
Net increase in cash and cash equivalents 857,493 613,665
Cash and cash equivalents at beginning of period 2,099,118 3,188,808
Cash and cash equivalents at end of period 2,956,611 3,802,473
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 180,511 189,665
Cash paid/(refunded) during the period for income taxes: 1,620 (1,290)
Transfers of loans from held for investment to held for sale $ 21,333 $ 0