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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net income $ 182,547 $ 243,519
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 36,250 6,900
Net amortization of premiums and discounts from acquisition 531 736
Depreciation and amortization 30,063 26,194
Amortization of debt issuance costs 438 225
Deferred income tax (benefit) expense (10,649) 584
Net (increase) decrease in trading securities and other earning assets (10,907) 22,229
Losses (gains) on investment securities, net 4,424 (60,198)
Gains on sales of assets (4,360) (3,184)
Amortization of securities premiums, net of discount accretion 21,892 22,964
Originations of loans held for sale (31,862) (21,131)
Gains on sales of loans held for sale, net (608) (609)
Proceeds from sales of loans held for sale 30,629 22,267
Equity-based compensation 9,174 11,902
Changes in:    
Accrued income (1,156) (13,871)
Accrued expenses and taxes 16,139 (68,434)
Other assets and liabilities, net (117,137) 215,716
Net cash provided by operating activities 155,408 405,809
Securities held to maturity:    
Maturities, calls and principal repayments 214,861 223,317
Purchases (149,912) (851,840)
Securities available for sale:    
Sales 68 0
Maturities, calls and principal repayments 843,812 725,027
Purchases (502,731) (1,151,486)
Equity securities with readily determinable fair values:    
Sales   17,081
Purchases (118) (700)
Equity securities without readily determinable fair values:    
Sales 4,790 13
Maturities, calls and principal repayments 300,874 83
Purchases (356,646) (16,232)
Payment on low-income housing tax credit investment commitments (23,110) (22,096)
Net increase in loans (1,456,857) (1,889,693)
Net decrease in fed funds sold and resell agreements 638,759 160,898
Net cash activity from acquisitions and divestitures (793) 257,767
Net decrease in interest-bearing balances due from other financial institutions 60,091 38,596
Purchases of premises and equipment (17,091) (16,889)
Proceeds from sales of premises and equipment 4,369 6,644
Net cash used in investing activities (439,634) (2,519,510)
FINANCING ACTIVITIES    
Net decrease in demand and savings deposits (1,395,026) (4,042,398)
Net increase (decrease) in time deposits 2,276,354 (298,259)
Net decrease in fed funds purchased and repurchase agreements (171,584) (577,152)
Proceeds from short-term debt 32,006,000  
Repayment of short-term debt (30,206,000)  
Cash dividends paid (36,871) (35,790)
Proceeds from exercise of stock options and sales of treasury shares 997 1,029
Purchases of treasury stock (7,902) (31,806)
Net cash provided by (used in) financing activities 2,465,968 (4,984,376)
Increase (decrease) in cash and cash equivalents 2,181,742 (7,098,077)
Cash and cash equivalents at beginning of period 1,557,874 9,214,564
Cash and cash equivalents at end of period 3,739,616 2,116,487
Supplemental disclosures:    
Income tax payments 49,656 54,785
Total interest payments 371,211 31,239
Noncash disclosures:    
Acquisition of low-income housing tax credit investments 34,831 27,490
Commitment to fund low-income housing tax credit investments $ 34,831 27,490
Transfer of loans to other real estate owned   12,313
Transfer of securities from available-for-sale to held-to-maturity   $ 3,593,711