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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Assets      
Cash and due from banks $ 616,216 $ 452,017 $ 379,825
Federal funds sold and securities purchased under resale agreements 63 6,519 61
Interest-bearing deposits with banks 4,238,237 4,409,753 2,131,077
Available-for-sale securities, at fair value 4,220,305 4,141,482 4,387,598
Held-to-maturity securities, at amortized cost, net of allowance for credit losses of $446, $457 and $329 at March 31, 2025, December 31, 2024 and March 31, 2024, respectively ($2.9 billion, $2.9 billion and $3.1 billion fair value at March 31, 2025, December 31, 2024 and March 31, 2024, respectively) 3,564,490 3,613,263 3,810,015
Trading account securities 0 4,072 2,184
Equity securities with readily determinable fair value 270,442 215,412 119,777
Federal Home Loan Bank and Federal Reserve Bank stock 281,893 281,407 224,657
Brokerage customer receivables 0 18,102 13,382
Mortgage loans held-for-sale, at fair value 316,804 331,261 339,884
Loans, net of unearned income 48,708,390 48,055,037 43,230,706
Allowance for loan losses (447,941) (436,603) (427,175)
Premises, software and equipment, net 776,679 779,130 744,769
Lease investments, net 280,472 278,264 283,557
Accrued interest receivable and other assets 1,598,255 1,739,334 1,580,142
Receivable on unsettled securities sales 463,023 0 0
Goodwill 796,932 796,942 656,181
Other acquisition-related intangible assets 116,072 121,690 21,730
Total assets 65,870,066 64,879,668 57,576,933
Deposits:      
Non-interest-bearing 11,201,859 11,410,018 9,908,183
Interest-bearing 42,368,179 41,102,331 36,540,675
Total deposits 53,570,038 52,512,349 46,448,858
Federal Home Loan Bank advances 3,151,309 3,151,309 2,676,751
Other borrowings 529,269 534,803 575,408
Subordinated notes 298,360 298,283 437,965
Junior subordinated debentures 253,566 253,566 253,566
Accrued interest payable and other liabilities 1,466,987 1,785,061 1,747,985
Total liabilities 59,269,529 58,535,371 52,140,533
Shareholders’ Equity:      
Common stock, no par value; $1.00 stated value; 100,000,000 shares authorized at March 31, 2025, December 31, 2024 and March 31, 2024; 67,006,594 shares issued at March 31, 2025, 66,560,182 shares issued at December 31, 2024 and 61,798,213 shares issued at March 31, 2024 67,007 66,560 61,798
Surplus 2,494,347 2,482,561 1,954,532
Treasury stock, at cost, $87,269 shares at March 31, 2025, 64,955 shares at December 31, 2024, and 61,498 shares at March 31, 2024 (9,156) (6,153) (5,757)
Retained earnings 4,045,854 3,897,164 3,498,475
Accumulated other comprehensive loss (410,015) (508,335) (485,148)
Total shareholders’ equity 6,600,537 6,344,297 5,436,400
Total liabilities and shareholders’ equity 65,870,066 64,879,668 57,576,933
Series D - $25 liquidation value; 5,000,000 shares issued and outstanding at March 31, 2025, December 31, 2024 and March 31, 2024      
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, 2025, December 31, 2024 and March 31, 2024      
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 48,708,390 48,055,037 43,230,706
Allowance for loan losses (378,207) (364,017) (348,612)
Net loans $ 48,330,183 $ 47,691,020 $ 42,882,094