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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
Assets      
Cash and due from banks $ 418,088 $ 490,908 $ 489,590
Federal funds sold and securities purchased under resale agreements 60 58 57
Interest-bearing deposits with banks 2,448,570 1,988,719 3,968,605
Available-for-sale securities, at fair value 3,611,835 3,243,017 2,923,653
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $381, $488 and $310 at September 30, 2023, December 31, 2022 and September 30, 2022, respectively ($3.1 billion, $2.9 billion and $2.7 billion fair value at September 30, 2023, December 31, 2022 and September 30, 2022, respectively) 3,909,150 3,640,567 3,389,842
Trading account securities 1,663 1,127 179
Equity securities with readily determinable fair value 134,310 110,365 114,012
Federal Home Loan Bank and Federal Reserve Bank stock 204,040 224,759 178,156
Brokerage customer receivables 14,042 16,387 20,327
Mortgage loans held-for-sale, at fair value 304,808 299,935 376,160
Loans, net of unearned income 41,446,032 39,196,485 38,167,613
Allowance for loan losses (399,150) (357,448) (315,028)
Premises, software and equipment, net 747,501 764,798 763,029
Lease investments, net 275,152 253,928 244,822
Accrued interest receivable and other assets 1,674,681 1,391,342 1,316,305
Trade date securities receivable 0 921,717 0
Goodwill 656,109 653,524 653,079
Other acquisition-related intangible assets 24,244 22,186 23,620
Total assets 55,555,246 52,949,649 52,382,939
Deposits:      
Non-interest-bearing 10,347,006 12,668,160 13,529,277
Interest-bearing 34,645,680 30,234,384 29,267,914
Total deposits 44,992,686 42,902,544 42,797,191
Federal Home Loan Bank advances 2,326,071 2,316,071 2,316,071
Other borrowings 643,999 596,614 447,215
Subordinated notes 437,731 437,392 437,260
Junior subordinated debentures 253,566 253,566 253,566
Accrued interest payable and other liabilities 1,885,580 1,646,624 1,493,656
Total liabilities 50,539,633 48,152,811 47,744,959
Shareholders’ Equity:      
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at September 30, 2023, December 31, 2022 and September 30, 2022; 61,243,622 shares issued at September 30, 2023, 60,797,270 shares issued at December 31, 2022 and 60,743,335 shares issued at September 30, 2022 61,244 60,797 60,743
Surplus 1,933,226 1,902,474 1,891,621
Treasury stock, at cost, 21,564 shares at September 30, 2023, 3,262 shares at December 31, 2022, and no shares at September 30, 2022 (1,966) (304) 0
Retained earnings 3,253,332 2,849,007 2,731,844
Accumulated other comprehensive loss (642,723) (427,636) (458,728)
Total shareholders’ equity 5,015,613 4,796,838 4,637,980
Total liabilities and shareholders’ equity 55,555,246 52,949,649 52,382,939
Series D - $25 liquidation value; 5,000,000 shares issued and outstanding at September 30, 2023, December 31, 2022 and September 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 September 30, 2023, December 31, 2022 and September 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 41,446,032 39,196,485 38,167,613
Allowance for loan losses (315,039) (270,173) (246,110)
Net loans $ 41,130,993 $ 38,926,312 $ 37,921,503