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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 338,741 $ 341,999
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,530 26,183
Provision for credit losses 40,255 42,151
Gain on other real estate and foreclosed assets (1,826) (375)
Deferred tax expense 4,640 3,266
Increase cash surrender value of life insurance contracts (21,116) (13,452)
(Gain) loss on disposal of assets (1,365) 981
Net (increase) decrease in loans held for sale 1,614 (14,572)
Net amortization of securities premium/discount 10,211 14,233
Amortization of intangible assets 7,207 8,884
Stock-based compensation expense 17,171 18,677
Net change in derivative collateral liability (31,172) 101,108
Net increase (decrease) in interest payable and other liabilities (781) 26,642
Net (Increase) decrease in other assets 52,594 (143,211)
Other, net (6,520) (10,111)
Net cash provided by operating activities 434,183 402,403
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of securities available for sale 293,734 246,825
Purchases of securities available for sale (542,759) (40,047)
Proceeds from maturities of securities held to maturity 203,433 122,782
Purchases of securities held to maturity 0 (6,023)
Proceeds received upon termination of fair value hedge instruments 0 16,550
Payments made to terminate cash flow hedge instruments (13,730) (2,915)
Net increase in short-term investments (168,149) (493,889)
Net redemption (purchases) of Federal Home Loan Bank stock 122,528 (68,057)
Proceeds from sales of loans and leases 100,518 79,422
Net (increase) decrease in loans 307,662 (978,775)
Purchases of property and equipment (7,500) (24,572)
Proceeds from sales of other real estate and foreclosed assets 5,695 1,862
Other, net (1,153) (4,325)
Net cash provided by (used in) investing activities 300,279 (1,151,162)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in deposits (707,154) 1,249,988
Net increase (decrease) in short-term borrowings 111,115 (445,343)
Dividends paid (96,153) (78,531)
Payroll tax remitted on net share settlement of equity awards (6,880) (3,321)
Proceeds from dividend reinvestment and stock purchase plans 3,095 2,858
Repurchase of common stock (29,811) 0
Net cash provided by (used in) financing activities (725,788) 725,651
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS 8,674 (23,108)
CASH AND DUE FROM BANKS, BEGINNING 561,202 564,459
CASH AND DUE FROM BANKS, ENDING 569,876 541,351
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 28,010 $ 4,067