v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net income     $ 679,640 $ 550,945  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
Depreciation and amortization     115,501 116,149  
Provision for credit losses $ 20,345 $ 5,085 47,072 113,152  
Deferred income taxes     14,869 102,708  
Losses on sale of securities, net       228,811  
Share-based compensation expense     29,440 28,444  
Accretion of discount related to acquired loans     (98,483) (208,281)  
Losses (gains) on disposal of premises and equipment     851 (112)  
Gains on sale of bank properties held for sale and repossessed real estate     (2,252) (234,212)  
Net amortization of premiums and discounts on investment securities     8,377 8,186  
Bank properties held for sale and repossessed real estate write downs     6,406 5,343  
Fair value adjustment for loans held for sale     2,317 1,043  
Originations and purchases of loans held for sale     (1,725,352) (1,667,396)  
Proceeds from sales of loans held for sale     747,952 913,311  
Gains on sales of loans held for sale     (7,571) (16,663)  
Increase in cash surrender value of BOLI     (28,724) (26,708)  
Net change in:          
Accrued interest receivable     (20,185) (11,797)  
Prepaid assets     (2,911) 5,075  
Operating leases     6,814 4,666  
Bank owned life insurance     (335) (3,388)  
Trading securities     938,684 642,258  
Derivative assets     103,155 (58,140)  
Miscellaneous other assets     (74,819) (26,584)  
Accrued interest payable     (11,477) (31,150)  
Accrued income taxes     25,427 (64,703)  
Derivative liabilities     433,212 (325,835)  
Miscellaneous other liabilities     145,405 23,669  
Net cash provided by operating activities     1,333,013 68,791  
Cash flows from investing activities:          
Proceeds from sales of investment securities available for sale       2,874,110  
Proceeds from maturities and calls of investment securities held to maturity     139,707 154,860  
Proceeds from maturities and calls of investment securities available for sale     2,993,409 2,254,244  
Proceeds from redemption of other investment securities     49    
Proceeds from sales and redemptions of other investment securities     16,192 45,306  
Purchases of investment securities available for sale     (3,414,030) (5,126,458)  
Purchases of other investment securities     (28,517) (117,380)  
Net increase in loans     (3,438,760) (570,723)  
Net cash received from acquisitions       1,040,765  
Net cash paid for acquisition of customer list       (279)  
Recoveries of loans previously charged off     13,230 13,108  
Purchases of premises and equipment     (50,790) (53,653)  
Proceeds from redemption and payout of bank owned life insurance policies     1,596 9,774  
Proceeds from sale of bank properties held for sale and repossessed real estate     29,162 555,500  
Proceeds from sale of premises and equipment     412 997  
Net cash (used in) provided by investing activities     (3,738,340) 1,080,171  
Cash flows from financing activities:          
Net increase in deposits     2,492,131 806,658  
Net (decrease) increase in federal funds purchased and securities sold under agreements to repurchase and other short-term borrowings     (120,043) 79,180  
Proceeds from borrowings     900,000 1,045,122  
Repayment of borrowings     (600,000) (1,105,000)  
Common stock issuance     4,123 2,588  
Common stock repurchases     (284,704) (54,303)  
Dividends paid     (182,330) (171,291)  
Excise tax paid on repurchases of common stock     (2,392)    
Stock options exercised     677 472  
Net cash provided by financing activities     2,207,462 603,426  
Net (decrease) increase in cash and cash equivalents     (197,865) 1,752,388  
Cash and cash equivalents at beginning of period     3,172,483 1,392,067 $ 1,392,067
Cash and cash equivalents at end of period $ 2,974,618 $ 3,144,455 2,974,618 3,144,455 $ 3,172,483
Cash paid for:          
Interest     802,350 839,710  
Income taxes     145,214 125,072  
Recognition of operating lease assets in exchange for lease liabilities     43,042 399,965  
Schedule of Noncash Operating Transactions:          
Pooling of interest only strips into trading securities     33,352    
Creation of interest only strips from pooling of SBA loans held for sale     94,479    
Pooling of SBA loans held for sale into trading securities     936,683 646,846  
Acquisitions:          
Fair value of tangible assets acquired       16,553,467  
Other intangible assets acquired       414,553  
Liabilities assumed       15,665,912  
Net identifiable assets acquired over liabilities assumed       1,170,953  
Common stock issued in acquisition       2,472,947  
Real estate transferred from premises and equipment to premises held for sale related to the sale-leaseback transaction     6,836 230,143  
Real estate acquired in full or in partial settlement of loans     $ 38,776 $ 27,382