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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net income $ 110,258 $ 92,437
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 10,000 23,250
Net amortization of premiums and discounts from acquisition 276 267
Depreciation and amortization 13,817 15,388
Amortization of debt issuance costs 219 218
Deferred income tax benefit (3,037) (3,855)
Net increase in trading securities and other earning assets (22,094) (1,843)
(Gains) losses on investment securities, net (9,371) 5,324
Gains on sales of assets (1,846) (60)
Amortization of securities premiums, net of discount accretion 6,425 10,662
Originations of loans held for sale (17,979) (12,901)
Gains on sales of loans held for sale, net (415) (235)
Proceeds from sales of loans held for sale 18,399 13,692
Equity-based compensation 4,974 5,235
Changes in:    
Accrued income 289 7,645
Accrued expenses and taxes (14,972) (31,991)
Other assets and liabilities, net (38,799) (121,537)
Net cash provided by operating activities 56,144 1,696
Securities held to maturity:    
Maturities, calls and principal repayments 95,031 86,856
Purchases (23,686) (80,097)
Securities available for sale:    
Sales 19,153 68
Maturities, calls and principal repayments 3,104,013 188,018
Purchases (2,630,486) (2,288)
Equity securities with readily determinable fair values:    
Purchases (87) (57)
Equity securities without readily determinable fair values:    
Sales 28,623 4,590
Maturities, calls and principal repayments 1 100,846
Purchases (5,012) (176,501)
Payment of low-income housing tax credit (LIHTC) investment commitments (15,765) (9,507)
Net increase in loans (359,617) (786,426)
Net decrease in fed funds sold and resell agreements 65,069 590,439
Net cash activity from acquisitions and divestitures (110,789)  
Net (increase) decrease in interest-bearing balances due from other financial institutions (8,214) 51,646
Purchases of premises and equipment (2,376) (9,428)
Proceeds from sales of premises and equipment 2,535 65
Net cash provided by (used in) investing activities 158,393 (41,776)
FINANCING ACTIVITIES    
Net increase (decrease) in demand and savings deposits 1,550,733 (2,472,589)
Net (decrease) increase in time deposits (429,982) 1,765,360
Net increase (decrease) in fed funds purchased and repurchase agreements 105,830 (61,359)
Proceeds from short-term debt   13,281,000
Repayment of short-term debt   (10,481,000)
Cash dividends paid (19,012) (18,432)
Proceeds from exercise of stock options and sales of treasury shares 281 432
Purchases of treasury stock (7,537) (7,902)
Net cash provided by financing activities 1,200,313 2,005,510
Increase in cash and cash equivalents 1,414,850 1,965,430
Cash and cash equivalents at beginning of period 5,528,258 1,557,874
Cash and cash equivalents at end of period 6,943,108 3,523,304
Supplemental disclosures:    
Income tax payments 1,328 1,508
Total interest payments 268,768 $ 165,102
Noncash disclosures:    
Transfer of loans to other real estate owned $ 794