v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities:    
Net income $ 227,388 $ 189,039
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 29,594 23,963
Depreciation, amortization and accretion, net 29,927 29,488
Stock-based compensation expense 11,324 10,411
Accretion of discount on securities, net (7,734) (531)
Amortization (accretion) of discount and deferred fees on loans, net 14,143 (5,908)
Mortgage servicing rights fair value changes 207 12,150
Non-designated derivatives fair value changes, net 1,511 56,603
Originations and purchases of mortgage loans held-for-sale (593,993) (460,453)
Early buy-out exercises of mortgage loans held-for-sale guaranteed by U.S. government agencies, net of subsequent paydowns or payoffs (23,205) 5,255
Proceeds from sales of mortgage loans held-for-sale 568,725 470,250
Bank owned life insurance (“BOLI”) gains (948) (796)
Decrease in trading securities, net 0 4,072
Decrease in brokerage customer receivables, net 0 18,102
Gains on mortgage loans sold (17,706) (13,766)
Losses (gains) on investment securities, net, and dividend reinvestment on equity securities 31 (3,196)
Losses on sales of premises and equipment, net 56 173
(Gains) losses on sales and fair value adjustments of other real estate owned, net (167) 491
Decrease in accrued interest receivable and other assets, net 823,271 107,816
Decrease in accrued interest payable and other liabilities, net (135,241) (323,409)
Net Cash Provided by Operating Activities 927,183 119,754
Investing Activities:    
Proceeds from payments and maturities of available-for-sale securities 204,357 135,124
Proceeds from payments, maturities and calls of held-to-maturity securities 73,537 48,565
Proceeds from sales of equity securities with readily determinable fair value 0 5,000
Proceeds from sales and capital distributions of equity securities without readily determinable fair value 646 0
Purchases of available-for-sale securities (1,264,988) (601,365)
Purchases of equity securities with readily determinable fair value (300) (56,019)
Purchases of equity securities without readily determinable fair value (964) (1,053)
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock, net (163) (486)
Distributions from investments in partnerships, net 1,430 869
Proceeds from sales of other real estate owned 4,760 0
Decrease in interest-bearing deposits with banks, net 126,618 171,531
Increase in loans, net (998,702) (682,839)
Redemption of BOLI 2 0
(Purchases) sales of premises and equipment, net (13,210) 7,299
Net Cash Used for Investing Activities (1,866,977) (973,374)
Financing Activities:    
Increase in deposit accounts, net 1,197,191 1,057,689
Decrease in other borrowings, net (133,343) (4,796)
Issuance of common shares resulting from the exercise of stock options, employee stock purchase plan and director compensation plan 1,907 1,822
Common stock repurchases for tax withholdings related to stock-based compensation (4,814) (3,003)
Dividends paid (45,366) (40,349)
Net Cash Provided by Financing Activities 1,015,575 1,011,363
Net Increase in Cash and Cash Equivalents 75,781 157,743
Cash and Cash Equivalents at Beginning of Period 467,938 458,536
Cash and Cash Equivalents at End of Period $ 543,719 $ 616,279