v3.25.2
Consolidated Statements of Changes in Shareholders' Equity (unaudited) - USD ($)
$ in Thousands
Common Stock
Surplus
Retained Earnings
Cumulative Effect of Adoption of ASU
Retained Earnings
Accumulated Other Comprehensive Loss
Cumulative Effect of Adoption of ASU
Total
Balance at Dec. 31, 2023 $ 190,055 $ 4,240,413   $ 1,685,166 $ (582,536)   $ 5,533,098
Balance (in shares) at Dec. 31, 2023 76,022,039            
Increase (Decrease) in Stockholders' Equity              
Net income       247,426     247,426
Other comprehensive income, net of tax effects         (37,675)   (37,675)
Comprehensive income             209,751
Cash dividends declared on common stock per share       (79,217)     (79,217)
Cash dividend equivalents paid on restricted stock units       (1,196)     (1,196)
Employee stock purchases $ 23 707         730
Employee stock purchases (in shares) 9,092            
Stock options exercised $ 19 422         441
Stock options exercised (in shares) 7,448            
Restricted stock awards (forfeits) $ (2) 2          
Restricted stock awards (forfeits) (in shares) (316)            
Stock issued pursuant to restricted stock units $ 884 (884)          
Stock issued pursuant to restricted stock units (in shares) 353,675            
Stock issued in lieu of cash - directors fees $ 3 90         93
Stock issued in lieu of cash - directors fees (in shares) 1,148            
Common stock repurchased - buyback plan $ (250) (7,735)         (7,985)
Common stock repurchased - buyback plan (in shares) (100,000)            
Common stock repurchased - equity plans $ (243) (7,850)         (8,093)
Common stock repurchased - equity plans (in shares) (97,363)            
Share-based compensation expense   13,027         13,027
Balance (ASU 2023-02) at Jun. 30, 2024     $ (10,246)     $ (10,246)  
Balance at Jun. 30, 2024 $ 190,489 4,238,192   1,841,933 (620,211)   5,650,403
Balance (in shares) at Jun. 30, 2024 76,195,723            
Balance at Mar. 31, 2024 $ 190,443 4,230,345   1,749,215 (622,994)   5,547,009
Balance (in shares) at Mar. 31, 2024 76,177,163            
Increase (Decrease) in Stockholders' Equity              
Net income       132,370     132,370
Other comprehensive income, net of tax effects         2,783   2,783
Comprehensive income             135,153
Cash dividends declared on common stock per share       (39,619)     (39,619)
Cash dividend equivalents paid on restricted stock units       (33)     (33)
Employee stock purchases $ 23 707         730
Employee stock purchases (in shares) 9,092            
Stock options exercised $ 3 47         50
Stock options exercised (in shares) 1,099            
Restricted stock awards (forfeits) $ (1) 1          
Restricted stock awards (forfeits) (in shares) (252)            
Stock issued pursuant to restricted stock units $ 23 (23)          
Stock issued pursuant to restricted stock units (in shares) 9,299            
Stock issued in lieu of cash - directors fees $ 3 90         93
Stock issued in lieu of cash - directors fees (in shares) 1,148            
Common stock repurchased - equity plans $ (5) (135)         (140)
Common stock repurchased - equity plans (in shares) (1,826)            
Share-based compensation expense   7,160         7,160
Balance (ASU 2023-02) at Jun. 30, 2024     $ (10,246)     $ (10,246)  
Balance at Jun. 30, 2024 $ 190,489 4,238,192   1,841,933 (620,211)   5,650,403
Balance (in shares) at Jun. 30, 2024 76,195,723            
Balance at Dec. 31, 2024 $ 190,805 4,259,722   2,046,809 (606,921)   $ 5,890,415
Balance (in shares) at Dec. 31, 2024 76,322,206           76,322,206
Increase (Decrease) in Stockholders' Equity              
Net income       304,304     $ 304,304
Other comprehensive income, net of tax effects         234,812   234,812
Comprehensive income             539,116
Cash dividends declared on common stock per share       (109,543)     (109,543)
Cash dividend equivalents paid on restricted stock units       (1,100)     (1,100)
Employee stock purchases $ 31 1,081         1,112
Employee stock purchases (in shares) 12,615            
Stock options exercised $ 19 314         333
Stock options exercised (in shares) 7,047            
Stock issued pursuant to restricted stock units $ 1,015 (1,015)          
Stock issued pursuant to restricted stock units (in shares) 405,891            
Stock issued in lieu of cash - directors fees $ 5 213         218
Stock issued in lieu of cash - directors fees (in shares) 2,307            
Common stock repurchased - equity plans $ (277) (10,996)         (11,273)
Common stock repurchased - equity plans (in shares) (110,797)            
Share-based compensation expense   18,909         18,909
Common stock issued for Independent acquisition $ 62,147 2,410,800         2,472,947
Common stock issued for Independent acquisition (in shares) 24,858,731            
Balance at Jun. 30, 2025 $ 253,745 6,679,028   2,240,470 (372,109)   $ 8,801,134
Balance (in shares) at Jun. 30, 2025 101,498,000           101,498,000
Balance at Mar. 31, 2025 $ 253,698 6,667,277   2,080,053 (376,667)   $ 8,624,361
Balance (in shares) at Mar. 31, 2025 101,479,065            
Increase (Decrease) in Stockholders' Equity              
Net income       215,224     215,224
Other comprehensive income, net of tax effects         4,558   4,558
Comprehensive income             219,782
Cash dividends declared on common stock per share       (54,807)     (54,807)
Employee stock purchases $ 31 1,081         1,112
Employee stock purchases (in shares) 12,615            
Stock options exercised $ 1 2         3
Stock options exercised (in shares) 71            
Stock issued pursuant to restricted stock units $ 15 (15)          
Stock issued pursuant to restricted stock units (in shares) 5,930            
Stock issued in lieu of cash - directors fees $ 3 122         125
Stock issued in lieu of cash - directors fees (in shares) 1,404            
Common stock repurchased - equity plans $ (3) (94)         (97)
Common stock repurchased - equity plans (in shares) (1,085)            
Share-based compensation expense   10,655         10,655
Balance at Jun. 30, 2025 $ 253,745 $ 6,679,028   $ 2,240,470 $ (372,109)   $ 8,801,134
Balance (in shares) at Jun. 30, 2025 101,498,000           101,498,000