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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,325,188 $ 1,165,586 $ 1,161,161
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 160,000 174,000 125,000
Depreciation, amortization and accretion, net 213,164 212,338 174,183
Stock compensation costs 76,189 45,535 39,867
Deferred income tax benefit (7,775) (14,283) (49,139)
Net (gains) losses on AFS debt securities (963) (2,069) 6,862
Net losses (gains) on other real estate owned (“OREO”) write-downs and sales 10,275 7,275 (3,451)
Loans held-for-sale:      
Originations and purchases (4,105) (2,881) (116)
Proceeds from sales and paydowns/payoffs of loans originally classified as held-for-sale 4,102 3,020 0
Net change in accrued interest receivable and other assets (97,306) 63,743 (146,270)
Net change in accrued expenses and other liabilities (167,970) (242,443) 105,304
Other operating activities, net (9,099) 1,846 11,508
Total adjustments 176,512 246,081 263,748
Net cash provided by operating activities 1,501,700 1,411,667 1,424,909
Net (increase) decrease in:      
Affordable housing partnership, tax credit and CRA investments (351,786) (378,305) (228,550)
Interest-bearing deposits with banks 33,115 (38,352) 128,523
Assets purchased under resale agreements:      
Proceeds from paydowns and maturities 0 360,000 219,917
Purchases 0 0 (212,725)
AFS debt securities:      
Proceeds from sales 952,413 1,428,829 3,138
Proceeds from repayments, maturities and redemptions 3,851,138 1,547,058 1,470,819
Purchases (6,939,256) (7,599,454) (1,549,846)
Loans held-for-investment:      
Proceeds from sales of loans originally classified as held-for-investment 310,408 715,088 711,862
Purchases (963,327) (1,000,637) (600,930)
Other changes in loans held-for-investment, net (2,486,715) (1,341,549) (4,166,572)
Proceeds from sales of OREO and other foreclosed assets 36,122 33,055 3,721
Proceeds from repayments and redemptions of HTM debt securities 62,832 54,249 61,744
Redemption (purchases) of FHLB stock, net 14,024 (84,079) 0
Other investing activities, net 4,527 8,894 (88,262)
Net cash used in investing activities (5,476,505) (6,295,203) (4,247,161)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net change in deposits 3,863,717 7,108,377 144,468
Net change in short-term borrowings 2 (4,500,000) 4,500,000
FHLB advances:      
Proceeds 2,500,000 4,000,400 6,000,000
Repayments (3,000,000) (500,400) (6,000,000)
Repurchase agreements:      
Repayment 0 0 (300,000)
Extinguishment cost 0 0 (3,872)
Repayment of lease liabilities and junior subordinated debt (836) (117,437) (871)
Common stock:      
Proceeds from issuance pursuant to various stock compensation plans and agreements 3,212 3,023 3,208
Stock tendered for payment of withholding taxes (19,239) (14,877) (23,751)
Repurchase of common stock pursuant to the stock repurchase program (115,590) (143,082) (82,174)
Cash dividends paid (334,041) (308,478) (274,554)
Net cash provided by financing activities 2,897,225 5,527,526 3,962,454
Effect of exchange rate changes on cash and cash equivalents 14,977 (8,232) (7,002)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,062,603) 635,758 1,133,200
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 5,250,742 4,614,984 3,481,784
CASH AND CASH EQUIVALENTS, END OF YEAR 4,188,139 5,250,742 4,614,984
Cash paid during the year for:      
Interest 1,742,199 2,057,967 1,213,319
Income taxes, net 278,182 246,945 291,685
Noncash investing and financing activities:      
Loans transferred from held-for-investment to held-for-sale 331,227 659,322 739,379
Loans transferred to OREO or other foreclosed assets $ 33,513 $ 67,379 $ 11,141