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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Assets      
Cash and due from banks $ 725,465 $ 423,404 $ 418,088
Federal funds sold and securities purchased under resale agreements 5,663 60 60
Interest-bearing deposits with banks 3,648,117 2,084,323 2,448,570
Available-for-sale securities, at fair value 3,912,232 3,502,915 3,611,835
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $479, $347 and $381 at September 30, 2024, December 31, 2023 and September 30, 2023, respectively ($3.1 billion, $3.2 billion and $3.1 billion fair value at September 30, 2024, December 31, 2023 and September 30, 2023, respectively) 3,677,420 3,856,916 3,909,150
Trading account securities 3,472 4,707 1,663
Equity securities with readily determinable fair value 125,310 139,268 134,310
Federal Home Loan Bank and Federal Reserve Bank stock 266,908 205,003 204,040
Brokerage customer receivables 16,662 10,592 14,042
Mortgage loans held-for-sale, at fair value 461,067 292,722 304,808
Loans, net of unearned income 47,067,447 42,131,831 41,446,032
Allowance for loan losses (435,714) (427,265) (399,150)
Premises, software and equipment, net 772,002 748,966 747,501
Lease investments, net 270,171 281,280 275,152
Accrued interest receivable and other assets 1,721,090 1,551,899 1,674,681
Trade date securities receivable 551,031 690,722 0
Goodwill 800,780 656,672 656,109
Other acquisition-related intangible assets 123,866 22,889 24,244
Total assets 63,788,424 56,259,934 55,555,246
Deposits:      
Non-interest-bearing 10,739,132 10,420,401 10,347,006
Interest-bearing 40,665,834 34,976,769 34,645,680
Total deposits 51,404,966 45,397,170 44,992,686
Federal Home Loan Bank advances 3,171,309 2,326,071 2,326,071
Other borrowings 647,043 645,813 643,999
Subordinated notes 298,188 437,866 437,731
Junior subordinated debentures 253,566 253,566 253,566
Accrued interest payable and other liabilities 1,613,638 1,799,922 1,885,580
Total liabilities 57,388,710 50,860,408 50,539,633
Shareholders’ Equity:      
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at September 30, 2024, December 31, 2023 and September 30, 2023;66,546,351 shares issued at September 30, 2024, 61,268,566 shares issued at December 31, 2023 and 61,243,622 shares issued at September 30, 2023 66,546 61,269 61,244
Surplus 2,470,228 1,943,806 1,933,226
Treasury stock, at cost, $64,808 shares at September 30, 2024, 24,940 shares at December 31, 2023, and 21,564 shares at September 30, 2023 (6,098) (2,217) (1,966)
Retained earnings 3,748,715 3,345,399 3,253,332
Accumulated other comprehensive loss (292,177) (361,231) (642,723)
Total shareholders’ equity 6,399,714 5,399,526 5,015,613
Total liabilities and shareholders’ equity 63,788,424 56,259,934 55,555,246
Series D - $25 liquidation value; 5,000,000 shares issued and outstanding at September 30, 2024, December 31, 2023 and September 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 September 30, 2024, December 31, 2023 and September 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 47,067,447 42,131,831 41,446,032
Allowance for loan losses (360,279) (344,235) (315,039)
Net loans $ 46,707,168 $ 41,787,596 $ 41,130,993