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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Assets      
Cash and due from banks $ 415,462 $ 423,404 $ 513,858
Federal funds sold and securities purchased under resale agreements 62 60 59
Interest-bearing deposits with banks 2,824,314 2,084,323 2,163,708
Available-for-sale securities, at fair value 4,329,957 3,502,915 3,492,481
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $491, $347 and $406 at June 30, 2024, December 31, 2023 and June 30, 2023, respectively ($3.1 billion, $3.2 billion and $2.9 billion fair value at June 30, 2024, December 31, 2023 and June 30, 2023, respectively) 3,755,924 3,856,916 3,564,473
Trading account securities 4,134 4,707 3,027
Equity securities with readily determinable fair value 112,173 139,268 116,275
Federal Home Loan Bank and Federal Reserve Bank stock 256,495 205,003 195,117
Brokerage customer receivables 13,682 10,592 15,722
Mortgage loans held-for-sale, at fair value 411,851 292,722 338,728
Loans, net of unearned income 44,675,531 42,131,831 41,023,408
Allowance for loan losses (437,069) (427,265) (387,380)
Premises, software and equipment, net 722,295 748,966 749,393
Lease investments, net 275,459 281,280 274,351
Accrued interest receivable and other assets 1,671,334 1,551,899 1,455,748
Trade date securities receivable 0 690,722 0
Goodwill 655,955 656,672 656,674
Other acquisition-related intangible assets 20,607 22,889 25,653
Total assets 59,781,516 56,259,934 54,286,176
Deposits:      
Non-interest-bearing 10,031,440 10,420,401 10,604,915
Interest-bearing 38,017,586 34,976,769 33,433,792
Total deposits 48,049,026 45,397,170 44,038,707
Federal Home Loan Bank advances 3,176,309 2,326,071 2,026,071
Other borrowings 606,579 645,813 665,219
Subordinated notes 298,113 437,866 437,628
Junior subordinated debentures 253,566 253,566 253,566
Accrued interest payable and other liabilities 1,861,295 1,799,922 1,823,073
Total liabilities 54,244,888 50,860,408 49,244,264
Shareholders’ Equity:      
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at June 30, 2024, December 31, 2023 and June 30, 2023; 61,824,947 shares issued at June 30, 2024, 61,268,566 shares issued at December 31, 2023 and 61,219,240 shares issued at June 30, 2023 61,825 61,269 61,219
Surplus 1,964,645 1,943,806 1,923,623
Treasury stock, at cost, $64,808 shares at June 30, 2024, 24,940 shares at December 31, 2023, and 21,564 shares at June 30, 2023 (5,760) (2,217) (1,966)
Retained earnings 3,615,616 3,345,399 3,120,626
Accumulated other comprehensive loss (512,198) (361,231) (474,090)
Total shareholders’ equity 5,536,628 5,399,526 5,041,912
Total liabilities and shareholders’ equity 59,781,516 56,259,934 54,286,176
Series D - $25 liquidation value; 5,000,000 shares issued and outstanding at June 30, 2024, December 31, 2023 and June 30, 2023      
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, 2024, December 31, 2023 and June 30, 2023      
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 44,675,531 42,131,831 41,023,408
Allowance for loan losses (363,719) (344,235) (302,499)
Net loans $ 44,311,812 $ 41,787,596 $ 40,720,909