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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 412,293 $ 409,167 $ 411,768
Adjustments to reconcile net income to net cash provided by operating activities:      
Credit loss expense 15,092 31,802 34,576
Specific reserve, other real estate owned 1,296 632 2,538
Depreciation of bank premises and equipment 23,349 22,524 21,944
Gain on sale of bank premises and equipment (23) (378) (198)
Loss (gain) on sale of other real estate owned 518 182 (7,370)
Accretion of investment securities discounts (4,536) (3,022) (1,913)
Amortization of investment securities premiums 4,475 5,553 6,901
Investment securities transactions, net 1 1 3
Unrealized (gain) loss on equity securities with readily determinable fair values (180) 24 (59)
Stock based compensation expense 104 214 330
Earnings from affiliates and other investments (5,504) (7,360) (983)
Deferred tax expense (benefit) 14,066 (11,466) 22,950
Increase in accrued interest receivable (255) (6,873) (19,515)
Decrease (increase) in other assets 34,619 (8,067) (7,297)
(Decrease) increase in other liabilities (4,258) 41,015 10,757
Net cash provided by operating activities 491,057 473,948 474,432
Investing activities:      
Proceeds from maturities of securities 1,325 2,075 51,167
Proceeds from sales and calls of available for sale securities 15,490 3,750 2,045
Purchases of available for sale securities (813,002) (984,543) (1,079,215)
Principal collected on mortgage backed securities 987,467 833,690 629,194
Net increase in loans (664,746) (812,477) (632,976)
Purchases of other investments (131,062) (48,052) (31,256)
Distributions from other investments 21,898 32,007 12,175
Purchases of bank premises and equipment (18,121) (14,147) (27,497)
Proceeds from sales of bank premises and equipment 23 874 269
Proceeds from sales of other real estate owned 9,035 1,760 8,888
Net cash used in investing activities (591,693) (985,063) (1,067,206)
Financing activities:      
Net decrease in non-interest bearing demand deposits (126,136) (418,501) (815,210)
Net increase (decrease) in savings and interest bearing demand deposits 149,021 231,425 (377,236)
Net increase in time deposits 301,777 474,366 356,993
Net increase in securities sold under repurchase agreements 50,222 4,906 99,225
Paydowns on long-term other borrowed funds (209) (204) (199)
Redemption of long-term debt     (25,774)
Purchase of treasury stock (4,608) (963) (4,611)
Proceeds from stock transactions 1,466 3,758 1,167
Payments of cash dividends (87,062) (82,078) (78,247)
Net cash provided by (used in) financing activities 284,471 212,709 (843,892)
Increase (decrease) in cash and cash equivalents 183,835 (298,406) (1,436,666)
Cash and cash equivalents at beginning of period 352,652 651,058 2,087,724
Cash and cash equivalents at end of period 536,487 352,652 651,058
Supplemental cash flow information:      
Interest paid 216,598 201,827 117,936
U.S. federal income taxes paid 64,901 43,479 69,799
Non-cash investing and financing activities:      
Net transfers from loans to other real estate owned 15,092 3,727 600
Net transfers from loans to other investments   25,551  
TEXAS      
Supplemental cash flow information:      
State income/franchise taxes paid (refunded) $ 4,769 5,500 2,305
Other states      
Supplemental cash flow information:      
State income/franchise taxes paid (refunded)   $ 2,125 $ (1,468)