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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Assets      
Cash and due from banks $ 445,928 $ 490,908 $ 462,516
Federal funds sold and securities purchased under resale agreements 58 58 700,056
Interest-bearing deposits with banks 1,563,578 1,988,719 4,013,597
Available-for-sale securities 3,259,845 3,243,017 2,998,898
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $463, $488 and $159 at March 31, 2023, December 31, 2022 and March 31, 2022, respectively ($3.0 billion, $2.9 billion and $3.1 billion fair value at March 31, 2023, December 31, 2022 and March 31, 2022, respectively) 3,606,391 3,640,567 3,435,729
Trading account securities 102 1,127 852
Equity securities with readily determinable fair value 111,943 110,365 92,689
Federal Home Loan Bank and Federal Reserve Bank stock 244,957 224,759 136,163
Brokerage customer receivables 16,042 16,387 22,888
Mortgage loans held-for-sale, at fair value 302,493 299,935 606,545
Loans, net of unearned income 39,565,471 39,196,485 35,280,547
Allowance for loan losses (375,798) (357,448) (301,168)
Premises, software and equipment, net 760,283 764,798 761,213
Lease investments, net 256,301 253,928 240,656
Accrued interest receivable and other assets 1,413,795 1,391,342 1,066,750
Trade date securities receivable 939,758 921,717 0
Goodwill 653,587 653,524 655,402
Other acquisition-related intangible assets 20,951 22,186 26,699
Total assets 52,873,511 52,949,649 50,250,661
Deposits:      
Non-interest-bearing 11,236,083 12,668,160 13,748,918
Interest-bearing 31,482,128 30,234,384 28,470,404
Total deposits 42,718,211 42,902,544 42,219,322
Federal Home Loan Bank advances 2,316,071 2,316,071 1,241,071
Other borrowings 583,548 596,614 482,516
Subordinated notes 437,493 437,392 437,033
Junior subordinated debentures 253,566 253,566 253,566
Trade date securities payable 0 0 437
Accrued interest payable and other liabilities 1,549,116 1,646,624 1,124,460
Total liabilities 47,858,005 48,152,811 45,758,405
Shareholders’ Equity:      
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at March 31, 2023, December 31, 2022 and March 31, 2022; 61,197,979 shares issued at March 31, 2023, 60,797,270 shares issued at December 31, 2022 and 59,090,903 shares issued at March 31, 2022 61,198 60,797 59,091
Surplus 1,913,947 1,902,474 1,698,093
Treasury stock, at cost, 21,564 shares at March 31, 2023, 3,262 shares at December 31, 2022, and 1,837,689 shares at March 31, 2022 (1,966) (304) (109,903)
Retained earnings 2,997,263 2,849,007 2,548,474
Accumulated other comprehensive loss (367,436) (427,636) (115,999)
Total shareholders’ equity 5,015,506 4,796,838 4,492,256
Total liabilities and shareholders’ equity 52,873,511 52,949,649 50,250,661
Series D - $25 liquidation value; 5,000,000 shares issued and outstanding at March 31, 2023, December 31, 2022 and March 31, 2022      
Shareholders’ Equity:      
Preferred stock, no par value; 20,000,000 shares authorized: 125,000 125,000 125,000
Series E - $25,000 liquidation value; 11,500 shares issued and outstanding at March 31, 2023, December 31, 2022 and March 31, 2022      
Shareholders’ Equity:      
Preferred stock, no par value; 20,000,000 shares authorized: 287,500 287,500 287,500
Loans      
Assets      
Loans, net of unearned income 39,565,471 39,196,485 35,280,547
Allowance for loan losses (287,972) (270,173) (250,539)
Net loans $ 39,277,499 $ 38,926,312 $ 35,030,008