v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income $ 76,974 $ 82,421
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for credit losses 791 1,998
Depreciation, amortization and accretion, net 3,752 9,034
Equity in earnings of merchant banking subsidiaries 140 (38,715)
Deferred income taxes 6,787 1,437
Other, net 6,581 7,176
Net change in securities purchased under agreements to resell (56,519) (5,150)
Net change in trading securities (56,646) (68,611)
Net change in broker-dealer and clearing organization receivables (187,105) 17,016
Net change in other assets 3,609 (7,176)
Net change in broker-dealer and clearing organization payables 1,019 72,849
Net change in other liabilities (77,108) (84,180)
Net change in securities sold, not yet purchased 52,309 2,532
Proceeds from sale of mortgage servicing rights asset 48  
Change in valuation of mortgage servicing rights asset 462 950
Net gains from sales of loans (99,555) (97,226)
Loans originated for sale (4,890,640) (4,884,155)
Proceeds from loans sold 4,930,366 4,761,039
Net cash used in operating activities (284,735) (228,761)
Investing Activities    
Proceeds from maturities and principal reductions of securities held to maturity 62,074 52,612
Proceeds from sales, maturities and principal reductions of securities available for sale 130,984 135,940
Proceeds from sales of equity securities   1,475
Purchases of securities held to maturity (75,844) (83,639)
Purchases of securities available for sale (95,968) (114,497)
Net change in loans held for investment (304,750) (155,667)
Purchases of premises and equipment and other assets (11,993) (757)
Proceeds from sales and distributions of premises and equipment and other assets 7,175 68,673
Net cash paid to Federal Home Loan Bank and Federal Reserve Bank stock (36) (1,656)
Net cash provided by (used in) investing activities (288,358) (97,516)
Financing Activities    
Net change in deposits (359,434) (616,833)
Net change in short-term borrowings 574,224 (115,907)
Proceeds from long-term borrowings 469,803 555,941
Payments on long-term borrowings (477,606) (739,143)
Payments to repurchase common stock (94,521) (68,196)
Dividends paid on common stock (23,441) (23,174)
Net cash distributed to noncontrolling interest (1,758) (4,376)
Other, net 2,006 (2,329)
Net cash used in financing activities 89,273 (1,014,017)
Net change in cash, cash equivalents and restricted cash (483,820) (1,340,294)
Cash, cash equivalents and restricted cash, beginning of period 1,252,805 2,370,590
Cash, cash equivalents and restricted cash, end of period 768,985 1,030,296
Supplemental Disclosures of Cash Flow Information    
Cash paid for interest 146,259 177,550
Cash paid for income taxes, net of refunds 20,716 28,973
Supplemental Schedule of Non-Cash Activities    
Non-cash distributions from merchant banking investments   9,521
Conversion of loans to other real estate owned 1,158 7,216
Additions to mortgage servicing rights $ 5,774 $ 3,114