v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities:    
Net income $ 700,135 $ 600,820
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 78,607 67,965
Depreciation, amortization and accretion, net 89,052 88,905
Stock-based compensation expense 34,877 30,646
Accretion of discount on securities, net (29,381) (4,412)
Accretion of discount and deferred fees on loans, net (6,063) (15,092)
Mortgage servicing rights fair value changes (3,735) 29,684
Non-designated derivatives fair value changes, net 28,313 (9,065)
Originations and purchases of mortgage loans held-for-sale (2,047,515) (1,785,392)
Early buy-out exercises of mortgage loans held-for-sale guaranteed by U.S. government agencies, net of subsequent paydowns or payoffs (54,367) (15,773)
Proceeds from sales of mortgage loans held-for-sale 2,128,544 1,785,096
Bank owned life insurance (“BOLI”) gains (5,010) (4,644)
Decrease in trading securities, net 0 4,072
Decrease in brokerage customer receivables, net 0 18,102
Gains on mortgage loans sold (39,202) (49,990)
Gains on investment securities, net, and dividend reinvestment on equity securities (193) (6,818)
(Gains) losses on sales of premises and equipment, net (1,826) 418
Losses on sales and fair value adjustments of other real estate owned, net 230 816
Decrease in accrued interest receivable and other assets, net 521,213 59,739
Increase (decrease) in accrued interest payable and other liabilities, net 146,390 (136,388)
Net Cash Provided by Operating Activities 1,540,069 658,689
Investing Activities:    
Proceeds from calls and sales of available-for-sale securities 16,662 705,703
Proceeds from payments and maturities of available-for-sale securities 630,133 402,735
Proceeds from payments, maturities and calls of held-to-maturity securities 223,154 174,383
Proceeds from sales of equity securities with readily determinable fair value 0 226,542
Proceeds from sales and capital distributions of equity securities without readily determinable fair value 3,283 0
Purchases of available-for-sale securities (2,488,806) (3,040,628)
Purchases of equity securities with readily determinable fair value (1,031) (63,413)
Purchases of equity securities without readily determinable fair value (5,061) (1,682)
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock, net (4,310) (1,348)
Distributions (contributions) from investments in partnerships, net 5,965 (13,422)
Net cash paid in business combination (34,097) 0
Proceeds from sales of other real estate owned 6,386 0
(Decrease) increase in interest-bearing deposits with banks, net (380,563) 994,409
Increase in loans, net (3,756,736) (4,017,366)
Redemption of BOLI 337 0
Purchases of premises and equipment, net (58,667) (26,921)
Net Cash Used for Investing Activities (5,843,351) (4,661,008)
Financing Activities:    
Increase in deposit accounts, net 4,718,025 4,199,032
(Decrease) increase in other borrowings, net (110,236) 33,753
Decrease in Federal Home Loan Bank advances, net (629) 0
Proceeds from the issuance of preferred stock, net 0 414,148
Redemption of preferred stock 0 (412,500)
Issuance of common shares resulting from the exercise of stock options, employee stock purchase plan and director compensation plan 5,889 5,387
Common stock repurchases for tax withholdings related to stock-based compensation (5,741) (2,997)
Dividends paid (136,307) (127,571)
Net Cash Provided by Financing Activities 4,471,001 4,109,252
Net Increase in Cash and Cash Equivalents 167,719 106,933
Cash and Cash Equivalents at Beginning of Period 467,938 458,536
Cash and Cash Equivalents at End of Period $ 635,657 $ 565,469