v3.25.2
CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Assets      
Cash and due from banks $ 695,501 $ 452,017 $ 415,462
Federal funds sold and securities purchased under resale agreements 63 6,519 62
Interest-bearing deposits with banks 4,569,618 4,409,753 2,824,314
Available-for-sale securities, at fair value 4,885,715 4,141,482 4,329,957
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $398, $457 and $491 at June 30, 2025, December 31, 2024 and June 30, 2024, respectively ($2.9 billion, $2.9 billion and $3.1 billion fair value at June 30, 2025, December 31, 2024 and June 30, 2024, respectively) 3,502,186 3,613,263 3,755,924
Trading account securities 0 4,072 4,134
Equity securities with readily determinable fair value 273,722 215,412 112,173
Federal Home Loan Bank and Federal Reserve Bank stock 282,087 281,407 256,495
Brokerage customer receivables 0 18,102 13,682
Mortgage loans held-for-sale, at fair value 299,606 331,261 411,851
Loans, net of unearned income 51,041,679 48,055,037 44,675,531
Allowance for loan losses (457,063) (436,603) (437,069)
Premises, software and equipment, net 776,324 779,130 722,295
Lease investments, net 289,768 278,264 275,459
Accrued interest receivable and other assets 1,610,025 1,739,334 1,671,334
Receivable on unsettled securities sales 240,039 0 0
Goodwill 798,144 796,942 655,955
Other acquisition-related intangible assets 110,495 121,690 20,607
Total assets 68,983,318 64,879,668 59,781,516
Deposits:      
Non-interest-bearing 10,877,166 11,410,018 10,031,440
Interest-bearing 44,939,645 41,102,331 38,017,586
Total deposits 55,816,811 52,512,349 48,049,026
Federal Home Loan Bank advances 3,151,309 3,151,309 3,176,309
Other borrowings 625,392 534,803 606,579
Subordinated notes 298,458 298,283 298,113
Junior subordinated debentures 253,566 253,566 253,566
Payable on unsettled securities sales 39,105 0 0
Accrued interest payable and other liabilities 1,572,981 1,785,061 1,861,295
Total liabilities 61,757,622 58,535,371 54,244,888
Shareholders’ Equity:      
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at June 30, 2025, December 31, 2024 and June 30, 2024; 67,025,001 shares issued at June 30, 2025, 66,560,182 shares issued at December 31, 2024 and 61,824,947 shares issued at June 30, 2024 67,025 66,560 61,825
Surplus 2,495,637 2,482,561 1,964,645
Treasury stock, at cost, $87,269 shares at June 30, 2025, 64,955 shares at December 31, 2024, and 64,808 shares at June 30, 2024 (9,156) (6,153) (5,760)
Retained earnings 4,200,923 3,897,164 3,615,616
Accumulated other comprehensive loss (366,233) (508,335) (512,198)
Total shareholders’ equity 7,225,696 6,344,297 5,536,628
Total liabilities and shareholders’ equity 68,983,318 64,879,668 59,781,516
Series D - $25 liquidation value; 5,000,000 shares issued and outstanding at June 30, 2025, December 31, 2024 and June 30, 2024      
Shareholders’ Equity:      
Preferred stock, no par value; 20,000,000 shares authorized: 125,000 125,000 125,000
Series E - $25,000 liquidation value; 11,500 shares issued and outstanding at June 30, 2025, December 31, 2024 and June 30, 2024      
Shareholders’ Equity:      
Preferred stock, no par value; 20,000,000 shares authorized: 287,500 287,500 287,500
Series F - $25,000 liquidation value; 17,000 shares issued and outstanding at June 30, 2025 and no shares issued and outstanding at December 31, 2024 and June 30, 2024      
Shareholders’ Equity:      
Preferred stock, no par value; 20,000,000 shares authorized: 425,000 0 0
Loans      
Assets      
Loans, net of unearned income 51,041,679 48,055,037 44,675,531
Allowance for loan losses (391,654) (364,017) (363,719)
Net loans $ 50,650,025 $ 47,691,020 $ 44,311,812