v3.26.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 357,796 $ 290,270
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 36,000 49,000
Depreciation, amortization and accretion, net 62,393 49,440
Stock compensation costs 19,837 13,186
Deferred income tax benefit (299) (22,453)
Net gains on AFS debt securities (616) (131)
Net (gains) losses on OREO write-downs and sales (2,005) 4,221
Loans held-for-sale:    
Originations (701) 0
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 361 0
Net change in accrued interest receivable and other assets (19,815) 11,999
Net change in accrued expenses and other liabilities (28,051) (117,443)
Other operating activities, net 3,728 (203)
Total adjustments 70,832 (12,384)
Net cash provided by operating activities 428,628 277,886
Net (increase) decrease in:    
Affordable housing partnership, tax credit and CRA investments (46,870) (75,519)
Interest-bearing deposits with banks 6,479 15,458
AFS debt securities:    
Proceeds from sales 276,114 108,232
Proceeds from repayments, maturities and redemptions 620,362 663,906
Purchases (1,822,755) (2,236,267)
Loans held-for-investment:    
Proceeds from sales of loans originally classified as held-for-investment 106,087 36,206
Purchases (250,646) (224,459)
Other changes in loans held-for-investment, net (1,078,413) (346,052)
Purchases of premises and equipment, net (99,046) (2,506)
Proceeds from sales of OREO 16,034 8,695
Proceeds from repayments and redemptions of HTM debt securities 14,743 15,952
Redemption of FHLB stock, net 195 0
Other investing activities, net 2,663 884
Net cash used in investing activities (2,255,053) (2,035,470)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 1,815,576 (126,497)
FHLB advances:    
Borrowings 200,000 1,000,000
Repayments (300,000) (1,000,000)
Net change in short-term FHLB advances 100,000 0
Net change in repurchase agreements 494,027 270,111
Repayment of lease liabilities (210) (209)
Common stock:    
Stock tendered for payment of withholding taxes (25,162) (17,747)
Repurchase of common stock pursuant to the stock repurchase program (97,842) (85,442)
Cash dividends paid (113,956) (85,893)
Net cash provided by (used in) financing activities 2,072,433 (45,677)
Effect of exchange rate changes on cash and cash equivalents 4,723 803
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 250,731 (1,802,458)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 4,188,139 5,250,742
CASH AND CASH EQUIVALENTS, END OF PERIOD 4,438,870 3,448,284
Cash paid during the period for:    
Interest 390,354 434,683
Income taxes, net 15,383 19,340
Noncash investing and financing activities:    
Loans transferred from held-for-investment to held-for-sale 117,081 36,194
Loans transferred to OREO $ 8,004 $ 6,598