v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net income $ 307,925 $ 281,189
Adjustments to reconcile net income to net cash from operating activities:    
Credit loss expense 26,199 29,437
Deferred tax expense (benefit) (4,017) (7,713)
Accretion of loan discounts (13,718) (10,245)
Securities premium amortization (discount accretion), net 20,128 24,786
Net (gain) loss on securities transactions 14 0
Depreciation and amortization 43,734 40,695
Net (gain) loss on sale/write-down of assets/foreclosed assets (2,374) 110
Stock-based compensation 8,913 8,261
Net tax benefit from stock-based compensation 1,376 621
Earnings on life insurance policies (1,882) (1,840)
Net change in:    
Trading account securities (4,309) (175)
Lease right-of-use assets 12,887 12,473
Accrued interest receivable and other assets 1,530 287,609
Accrued interest payable and other liabilities (551,745) (47,195)
Net cash from operating activities (155,339) 618,013
Investing Activities:    
Securities held-to-maturity - Purchases (1,500) 0
Securities held to maturity: Maturities, calls and principal repayments 46,888 31,325
Securities available for sale:    
Purchases (8,285,846) (3,757,122)
Sales 38,556 0
Maturities, calls and principal repayments 6,882,720 4,902,271
Proceeds from sale of loans 7,305 1,191
Net change in loans (514,111) (1,179,526)
Benefits received on life insurance policies 1,820 1,063
Proceeds from sales of premises and equipment 38 9
Purchases of premises and equipment (67,218) (64,800)
Proceeds from sales of foreclosed assets 15,135 0
Net cash from investing activities (1,876,213) (65,589)
Financing Activities:    
Net change in deposits (1,039,134) (1,602,428)
Net change in short-term borrowings 79,163 (342,521)
Proceeds from stock option exercises 5,956 5,209
Purchase of treasury stock (2,676) (32,226)
Cash dividends paid on preferred stock (3,338) (3,338)
Cash dividends paid on common stock (126,590) (119,612)
Net cash from financing activities (1,086,619) (2,094,916)
Net change in cash and cash equivalents (3,118,171) (1,542,492)
Cash and cash equivalents at beginning of period 10,234,258 8,687,276
Cash and cash equivalents at end of period $ 7,116,087 $ 7,144,784