v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 411,991 $ 109,390
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for (reversal of) credit losses 14,166 80,384
Depreciation, amortization, and accretion, net 25,073 34,210
Deferred income tax expense (benefit) 9,295 8,958
Originations of loans held for sale (3,556,082) (2,628,732)
Proceeds from sales and payments on loans held for sale 3,498,677 2,547,048
Gain on sales of loans held for sale, net (5,801) (5,132)
(Increase) decrease in other assets 227,544 (234,360)
Increase (decrease) in other liabilities (404,984) 120,137
Investment securities (gains) losses, net 0 256,660
Share-based compensation expense 15,607 15,621
Net gain on sales of other real estate and other assets held for sale (355) (899)
Net cash provided by (used in) operating activities 235,131 303,285
Investing Activities    
Proceeds from maturities and principal collections of investment securities held to maturity 110,510 66,100
Proceeds from maturities and principal collections of investment securities available for sale 270,815 350,809
Proceeds from sales of investment securities available for sale 0 1,365,923
Purchases of investment securities available for sale (324,304) (1,876,434)
Net proceeds from sales of loans 9,285 8,853
Net (increase) decrease in loans (969,652) 206,787
Net (purchases) redemptions of Federal Home Loan Bank stock (102,396) (16,650)
Net (purchases) redemptions of Federal Reserve Bank stock (85) (12,117)
Net proceeds from settlement (purchases) of bank-owned life insurance policies 7,533 1,564
Net increase in premises, equipment and software (14,690) (28,536)
Proceeds from sales of other real estate and other assets held for sale 2,534 24,787
Net cash provided by (used in) investing activities (1,010,450) 91,086
Financing Activities    
Net increase (decrease) in deposits (1,181,941) (544,612)
Net increase (decrease) in federal funds purchased, securities sold under repurchase agreements, and other short-term borrowings (46,401) (95,550)
Repayments and redemption of long-term debt 0 (800,000)
Proceeds from long-term debt, net 2,150,000 1,150,000
Dividends paid to common shareholders (108,393) (111,372)
Dividends paid to preferred shareholders (22,718) (19,398)
Repurchases of common stock (142,286) (121,755)
Issuances, net of taxes paid, under equity compensation plans (14,613) (8,502)
Net cash provided by (used in) financing activities 633,648 (551,189)
Increase (decrease) in cash and cash equivalents including restricted cash (141,671) (156,818)
Cash, cash equivalents, and restricted cash, at beginning of period 2,993,987 2,451,426
Cash, cash equivalents, and restricted cash at end of period 2,852,316 2,294,608
Supplemental Disclosures:    
Income taxes paid 61,747 28,961
Interest paid 646,508 730,439
Non-cash Activities    
Loans foreclosed and transferred to other real estate 1,038 21,992
Investment securities transferred from available for sale to held to maturity $ 0 $ 2,715,635