v3.26.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 664,000 $ 584,000
Adjustments to reconcile net income to net cash from operating activities:    
Provision for credit losses 140,000 130,000
Depreciation and amortization of premises and equipment 79,000 83,000
Amortization of capitalized servicing rights 9,000 34,000
Amortization of core deposit and other intangible assets 9,000 13,000
Provision for deferred income taxes 14,000 (6,000)
Asset write-downs 3,000 3,000
Net gain on sales of assets (9,000) (5,000)
Net change in accrued interest receivable, payable (62,000) (63,000)
Net change in other accrued income and expense (97,000) (140,000)
Net change in loans originated for sale 220,000 159,000
Net change in trading account and other non-hedging derivative assets and liabilities 42,000 (157,000)
Net cash from operating activities 1,012,000 635,000
Cash flows from investing activities    
Investment securities available for sale 2,492,000 0
Equity and other securities 322,000 159,000
Loans 6,000 93,000
Investment securities available for sale 1,211,000 820,000
Investment securities held to maturity 315,000 848,000
Investment securities available for sale (5,924,000) (2,571,000)
Equity and other securities (579,000) (138,000)
Loans 0 (68,000)
Net change in loans (1,611,000) 678,000
Capital expenditures, net (96,000) (25,000)
Net change in loan servicing advances (280,000) (279,000)
Other, net (180,000) 134,000
Net cash from investing activities (4,324,000) (349,000)
Cash flows from financing activities    
Net change in deposits (3,168,000) 4,314,000
Net change in short-term borrowings 5,702,000 513,000
Proceeds from long-term borrowings 508,000 743,000
Payments on long-term borrowings (212,000) (2,950,000)
Redemption of Series G preferred stock (400,000) 0
Purchases of treasury stock (1,238,000) (656,000)
Dividends paid — common (227,000) (225,000)
Dividends paid — preferred (48,000) (41,000)
Other, net (26,000) (1,000)
Net cash from financing activities 891,000 1,697,000
Net change in cash, cash equivalents and restricted cash (2,421,000) 1,983,000
Cash, cash equivalents and restricted cash at beginning of period [1] 18,769,000 20,782,000
Cash, cash equivalents and restricted cash at end of period [1] 16,348,000 22,765,000
Supplemental disclosure of cash flow information    
Interest received during the period 2,608,000 2,605,000
Interest paid during the period 862,000 933,000
Income taxes paid during the period 34,000 70,000
Supplemental schedule of noncash investing and financing activities    
Real estate and other foreclosed assets acquired in settlement of loans 5,000 5,000
Additions to right-of-use assets under operating leases $ 70,000 $ 14,000
[1] Effective for the year-ended December 31, 2025, the Company changed its accounting policy for Cash and cash equivalents to include Interest-bearing deposits at banks. Prior period amounts have been adjusted to reflect this change in accounting policy as described in note 1.