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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES    
Net income $ 279,101 $ 331,509
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 41,227 28,900
Net amortization of premiums and discounts from acquisition 800 1,057
Depreciation and amortization 44,576 39,751
Amortization of debt issuance costs 657 338
Deferred income tax benefit (11,437) (6,332)
Net (increase) decrease in trading securities and other earning assets (6,529) 17,485
Losses (gains) on investment securities, net 4,153 (58,853)
Gains on sales of assets (4,301) (3,206)
Amortization of securities premiums, net of discount accretion 32,516 34,617
Originations of loans held for sale (49,300) (34,340)
Gains on sales of loans held for sale, net (1,218) (910)
Proceeds from sales of loans held for sale 49,672 33,657
Equity-based compensation 12,702 16,741
Changes in:    
Accrued income (19,363) (22,756)
Accrued expenses and taxes 77,577 (38,518)
Other assets and liabilities, net (63,208) 285,969
Net cash provided by operating activities 387,625 625,109
Securities held to maturity:    
Maturities, calls and principal repayments 336,216 350,282
Purchases (186,010) (946,974)
Securities available for sale:    
Sales 22,193 0
Maturities, calls and principal repayments 1,005,538 935,626
Purchases (522,134) (1,128,812)
Equity securities with readily determinable fair values:    
Sales   28,417
Purchases (194) (1,019)
Equity securities without readily determinable fair values:    
Sales 4,883 13
Maturities, calls and principal repayments 314,881 148
Purchases (397,752) (22,529)
Payment on low-income housing tax credit investment commitments (31,251) (30,238)
Net increase in loans (1,859,649) (2,802,349)
Net decrease in fed funds sold and resell agreements 710,394 499,808
Net cash activity from acquisitions and divestitures (793) 257,767
Net decrease (increase) in interest-bearing balances due from other financial institutions 38,552 (20,653)
Purchases of premises and equipment (23,132) (34,346)
Proceeds from sales of premises and equipment 4,075 6,432
Net cash used in investing activities (584,183) (2,908,427)
FINANCING ACTIVITIES    
Net decrease in demand and savings deposits (1,633,496) (4,038,619)
Net increase in time deposits 2,426,115 18,326
Net decrease in fed funds purchased and repurchase agreements (464,565) (924,267)
Proceeds from short-term debt 32,856,000  
Repayment of short-term debt (30,556,000)  
Proceeds from long-term debt   110,000
Payment of debt issuance costs   (2,032)
Cash dividends paid (55,312) (53,666)
Proceeds from exercise of stock options and sales of treasury shares 1,267 1,336
Purchases of treasury stock (8,096) (31,806)
Net cash provided by (used in) financing activities 2,565,913 (4,920,728)
Increase (decrease) in cash and cash equivalents 2,369,355 (7,204,046)
Cash and cash equivalents at beginning of period 1,557,874 9,214,564
Cash and cash equivalents at end of period 3,927,229 2,010,518
Supplemental disclosures:    
Income tax payments 67,372 80,053
Total interest payments 577,907 91,564
Noncash disclosures:    
Acquisition of low-income housing tax credit investments 56,922 28,409
Commitment to fund low-income housing tax credit investments $ 56,922 28,409
Transfer of loans to other real estate owned   12,381
Transfer of securities from available-for-sale to held-to-maturity   $ 3,741,208