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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Assets      
Cash and due from banks $ 513,858 $ 490,908 $ 498,891
Federal funds sold and securities purchased under resale agreements 59 58 475,056
Interest-bearing deposits with banks 2,163,708 1,988,719 3,266,541
Available-for-sale securities 3,492,481 3,243,017 2,970,121
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $406, $488 and $83 at June 30, 2023, December 31, 2022 and June 30, 2022, respectively ($2.9 billion, $2.9 billion and $2.9 billion fair value at June 30, 2023, December 31, 2022 and June 30, 2022, respectively) 3,564,473 3,640,567 3,413,469
Trading account securities 3,027 1,127 1,010
Equity securities with readily determinable fair value 116,275 110,365 93,295
Federal Home Loan Bank and Federal Reserve Bank stock 195,117 224,759 136,138
Brokerage customer receivables 15,722 16,387 21,527
Mortgage loans held-for-sale, at fair value 338,728 299,935 513,232
Loans, net of unearned income 41,023,408 39,196,485 37,053,103
Allowance for loan losses (387,380) (357,448) (312,109)
Premises, software and equipment, net 749,393 764,798 762,381
Lease investments, net 274,351 253,928 223,813
Accrued interest receivable and other assets 1,455,748 1,391,342 1,112,697
Trade date securities receivable 0 921,717 0
Goodwill 656,674 653,524 654,709
Other acquisition-related intangible assets 25,653 22,186 25,118
Total assets 54,286,176 52,949,649 50,969,332
Deposits:      
Non-interest-bearing 10,604,915 12,668,160 13,855,844
Interest-bearing 33,433,792 30,234,384 28,737,482
Total deposits 44,038,707 42,902,544 42,593,326
Federal Home Loan Bank advances 2,026,071 2,316,071 1,166,071
Other borrowings 665,219 596,614 482,787
Subordinated notes 437,628 437,392 437,162
Junior subordinated debentures 253,566 253,566 253,566
Accrued interest payable and other liabilities 1,823,073 1,646,624 1,308,797
Total liabilities 49,244,264 48,152,811 46,241,709
Shareholders’ Equity:      
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at June 30, 2023, December 31, 2022 and June 30, 2022; 61,219,240 shares issued at June 30, 2023, 60,797,270 shares issued at December 31, 2022 and 60,721,889 shares issued at June 30, 2022 61,219 60,797 60,722
Surplus 1,923,623 1,902,474 1,880,913
Treasury stock, at cost, 21,564 shares at June 30, 2023, 3,262 shares at December 31, 2022, and no shares at June 30, 2022 (1,966) (304) 0
Retained earnings 3,120,626 2,849,007 2,616,525
Accumulated other comprehensive loss (474,090) (427,636) (243,037)
Total shareholders’ equity 5,041,912 4,796,838 4,727,623
Total liabilities and shareholders’ equity 54,286,176 52,949,649 50,969,332
Series D - $25 liquidation value; 5,000,000 shares issued and outstanding at June 30, 2023, December 31, 2022 and June 30, 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 June 30, 2023, December 31, 2022 and June 30, 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 41,023,408 39,196,485 37,053,103
Allowance for loan losses (302,499) (270,173) (251,769)
Net loans $ 40,720,909 $ 38,926,312 $ 36,801,334