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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net income $ 211,603 $ 182,547
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 24,050 36,250
Net amortization of premiums and discounts from acquisition 1,361 531
Depreciation and amortization 27,110 30,063
Amortization of debt issuance costs 438 438
Deferred income tax benefit (6,853) (10,649)
Net increase in trading securities and other earning assets (10,888) (10,907)
(Gains) losses on investment securities, net (7,504) 4,424
Gains on sales of assets (1,803) (4,360)
Amortization of securities premiums, net of discount accretion 13,652 21,892
Originations of loans held for sale (36,862) (31,862)
Gains on sales of loans held for sale, net (942) (608)
Proceeds from sales of loans held for sale 38,013 30,629
Equity-based compensation 10,743 9,174
Changes in:    
Accrued income (16,371) (1,156)
Accrued expenses and taxes (36,132) 16,139
Other assets and liabilities, net (41,105) (117,137)
Net cash provided by operating activities 168,510 155,408
Securities held to maturity:    
Maturities, calls and principal repayments 211,226 214,861
Purchases (56,998) (149,912)
Securities available for sale:    
Sales 19,153 68
Maturities, calls and principal repayments 6,334,100 843,812
Purchases (6,439,464) (502,731)
Equity securities with readily determinable fair values:    
Purchases (176) (118)
Equity securities without readily determinable fair values:    
Sales 32,148 4,790
Maturities, calls and principal repayments 45,002 300,874
Purchases (31,257) (356,646)
Payment of low-income housing tax credit (LIHTC) investment commitments (17,930) (23,110)
Net increase in loans (924,936) (1,456,857)
Net (increase) decrease in fed funds sold and resell agreements (2,118) 638,759
Net cash activity from acquisitions and divestitures (108,706) (793)
Net (increase) decrease in interest-bearing balances due from other financial institutions (10,254) 60,091
Purchases of premises and equipment (8,067) (17,091)
Proceeds from sales of premises and equipment 2,533 4,369
Net cash used in investing activities (955,744) (439,634)
FINANCING ACTIVITIES    
Net increase (decrease) in demand and savings deposits 1,715,593 (1,395,026)
Net (decrease) increase in time deposits (990,882) 2,276,354
Net increase (decrease) in fed funds purchased and repurchase agreements 97,389 (171,584)
Proceeds from short-term debt 500,000 32,006,000
Repayment of short-term debt (1,000,000) (30,206,000)
Cash dividends paid (38,542) (36,871)
Payment of common stock issuance costs (1,317)  
Proceeds from exercise of stock options and sales of treasury shares 410 997
Purchases of treasury stock (7,537) (7,902)
Net cash provided by financing activities 275,114 2,465,968
(Decrease) increase in cash and cash equivalents (512,120) 2,181,742
Cash and cash equivalents at beginning of period 5,528,258 1,557,874
Cash and cash equivalents at end of period 5,016,138 3,739,616
Supplemental disclosures:    
Income tax payments 56,247 49,656
Total interest payments 586,618 371,211
Noncash disclosures:    
Acquisition of low-income housing tax credit investments 3,000 34,831
Commitment to fund low-income housing tax credit investments 3,000 $ 34,831
Transfer of loans to other real estate owned $ 793