v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net income $ 461,081 $ 384,566
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 52,728 46,197
Depreciation, amortization and accretion, net 59,162 60,352
Stock-based compensation expense 22,988 20,575
Accretion of discount on securities, net (17,596) (1,787)
Amortization (accretion) of discount and deferred fees on loans, net 4,831 (10,341)
Mortgage servicing rights fair value changes (2,039) 21,732
Non-designated derivatives fair value changes, net 4,035 75,299
Originations and purchases of mortgage loans held-for-sale (1,428,962) (1,141,999)
Early buy-out exercises of mortgage loans held-for-sale guaranteed by U.S. government agencies, net of subsequent paydowns or payoffs (44,855) 7,244
Proceeds from sales of mortgage loans held-for-sale 1,395,939 1,149,356
Bank owned life insurance (“BOLI”) gains (4,164) (3,053)
Decrease in trading securities, net 0 4,072
Decrease in brokerage customer receivables, net 0 18,102
Gains on mortgage loans sold (32,967) (28,461)
Gains on investment securities, net, and dividend reinvestment on equity securities (1,814) (3,846)
(Gains) losses on sales of premises and equipment, net (706) 409
Losses on sales and fair value adjustments of other real estate owned, net 234 816
Decrease in accrued interest receivable and other assets, net 736,099 90,322
Decrease in accrued interest payable and other liabilities, net (21,700) (240,645)
Net Cash Provided by Operating Activities 1,182,294 448,910
Investing Activities:    
Proceeds from calls and sales of available-for-sale securities 16,589 465,078
Proceeds from payments and maturities of available-for-sale securities 433,248 259,210
Proceeds from payments, maturities and calls of held-to-maturity securities 147,213 110,752
Proceeds from sales of equity securities with readily determinable fair value 0 5,000
Proceeds from sales and capital distributions of equity securities without readily determinable fair value 1,324 0
Purchases of available-for-sale securities (1,865,646) (1,587,099)
Purchases of equity securities with readily determinable fair value (778) (56,019)
Purchases of equity securities without readily determinable fair value (2,608) (1,053)
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock, net (2,748) (680)
Distributions from investments in partnerships, net 4,033 1,161
Proceeds from sales of other real estate owned 6,259 0
Increase in interest-bearing deposits with banks, net (396,881) (150,218)
Increase in loans, net (2,600,181) (2,957,473)
Redemption of BOLI 337 0
Purchases of premises and equipment, net (30,460) (9,710)
Net Cash Used for Investing Activities (4,290,299) (3,921,051)
Financing Activities:    
Increase in deposit accounts, net 3,424,084 3,304,462
(Decrease) increase in other borrowings, net (94,909) 70,551
Decrease in Federal Home Loan Bank advances, net (629) 0
Proceeds from the issuance of preferred stock, net 0 414,212
Issuance of common shares resulting from the exercise of stock options, employee stock purchase plan and director compensation plan 3,934 3,754
Common stock repurchases for tax withholdings related to stock-based compensation (5,726) (3,003)
Dividends paid (90,832) (80,807)
Net Cash Provided by Financing Activities 3,235,922 3,709,169
Net Increase in Cash and Cash Equivalents 127,917 237,028
Cash and Cash Equivalents at Beginning of Period 467,938 458,536
Cash and Cash Equivalents at End of Period $ 595,855 $ 695,564