v3.26.3
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (unaudited) - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Capital Surplus
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2024 $ 6,340,350 $ 230,500 $ 318,980 $ 4,570,865 $ 1,966,048 $ (746,043)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 144,659       144,659  
Other comprehensive income (loss) 97,534         97,534
Cash dividends:            
Common (44,653)       (44,653)  
Preferred (4,034)       (4,034)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 250   12 238    
Common stock repurchased (13,538)   (611) (12,927)    
Share-based compensation expense 14,411     14,411    
Stock activity under incentive compensation plans (325)   855 (481) (699)  
Ending balance at Mar. 31, 2025 6,534,654 230,500 319,236 4,572,106 2,061,321 (648,509)
Beginning balance at Dec. 31, 2024 6,340,350 230,500 318,980 4,570,865 1,966,048 (746,043)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 452,634          
Other comprehensive income (loss) 221,652          
Acquisition of Bremer Financial Corporation 1,033,262          
Ending balance at Sep. 30, 2025 8,309,271 230,500 390,768 5,961,394 2,251,000 (524,391)
Beginning balance at Mar. 31, 2025 6,534,654 230,500 319,236 4,572,106 2,061,321 (648,509)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 125,408       125,408  
Other comprehensive income (loss) 48,901         48,901
Acquisition of Bremer Financial Corporation 1,033,262   50,183 983,079    
Cash dividends:            
Common (54,855)       (54,855)  
Preferred (4,033)       (4,033)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 256   13 243    
Forward sale agreement 443,236   21,905 421,331    
Common stock repurchased (7,957)   (379) (7,578)    
Share-based compensation expense 7,739     7,739    
Stock activity under incentive compensation plans (224)   860 (736) (348)  
Ending balance at Jun. 30, 2025 8,126,387 230,500 391,818 5,976,184 2,127,493 (599,608)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 182,567       182,567  
Other comprehensive income (loss) 75,217         75,217
Cash dividends:            
Common (54,863)       (54,863)  
Preferred (4,034)       (4,034)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 265   13 252    
Common stock repurchased (25,203)   (1,122) (24,081)    
Share-based compensation expense 8,610     8,610    
Stock activity under incentive compensation plans 325   59 429 (163)  
Ending balance at Sep. 30, 2025 8,309,271 230,500 390,768 5,961,394 2,251,000 (524,391)
Beginning balance at Dec. 31, 2025 8,494,788 230,500 389,662 5,944,533 2,408,764 (478,671)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 233,672       233,672  
Other comprehensive income (loss) (64,583)         (64,583)
Cash dividends:            
Common (56,060)       (56,060)  
Preferred (4,034)       (4,034)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 326   15 311    
Common stock repurchased (104,072)   (4,298) (99,774)    
Share-based compensation expense 9,181     9,181    
Stock activity under incentive compensation plans 1,435   936 929 (430)  
Ending balance at Mar. 31, 2026 8,510,653 230,500 386,315 5,855,180 2,581,912 (543,254)
Beginning balance at Dec. 31, 2025 8,494,788 230,500 389,662 5,944,533 2,408,764 (478,671)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 741,080          
Other comprehensive income (loss) (470,715)          
Acquisition of Bremer Financial Corporation 0          
Ending balance at Sep. 30, 2026 8,295,211 230,500 378,639 5,665,729 2,969,729 (949,386)
Beginning balance at Mar. 31, 2026 8,510,653 230,500 386,315 5,855,180 2,581,912 (543,254)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 253,414       253,414  
Other comprehensive income (loss) (14,887)         (14,887)
Cash dividends:            
Common (55,556)       (55,556)  
Preferred (4,033)       (4,033)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 343   17 326    
Common stock repurchased (115,336)   (4,809) (110,527)    
Share-based compensation expense 9,444     9,444    
Stock activity under incentive compensation plans (199)   1,014 (820) (393)  
Ending balance at Jun. 30, 2026 8,583,843 230,500 382,537 5,753,603 2,775,344 (558,141)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 253,994       253,994  
Other comprehensive income (loss) (391,245)         (391,245)
Cash dividends:            
Common (55,416)       (55,416)  
Preferred (4,034)       (4,034)  
Common stock issued for Employee Stock Purchase Plan (“ESPP”) 345   14 331    
Common stock repurchased (100,272)   (3,947) (96,325)    
Share-based compensation expense 7,984     7,984    
Stock activity under incentive compensation plans 12   35 136 (159)  
Ending balance at Sep. 30, 2026 $ 8,295,211 $ 230,500 $ 378,639 $ 5,665,729 $ 2,969,729 $ (949,386)