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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Net income $ 226,917 $ 216,323
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 77,500 45,500
Deferred income tax expense 27,636 16,470
Stock-based compensation 14,011 13,760
Depreciation and amortization of property and equipment and intangible assets 18,239 19,027
Net (accretion) amortization of interest-earning assets and borrowings (41,132) (11,893)
Amortization of low-income housing tax credit investments 32,061 20,413
Reduction of ROU lease assets 7,614 7,475
Net (gain) loss on sale of investment securities (220) 9,826
Originations of loans held for sale (3,105) (3,317)
Proceeds from sale of loans held for sale 2,741 4,713
Net (gain) on sale of mortgage servicing rights 0 (11,655)
(Increase) in cash surrender value of life insurance policies (7,992) (5,946)
(Gain) from life insurance policies (821) (6,888)
(Gain) on sale of alternative investments (3,291) 0
Other operating activities, net (499) (4,257)
Net (increase) decrease in derivative contract assets and liabilities (84,526) 56,534
Net (increase) decrease in prepaid expenses and other assets (14,062) 296,416
Net (decrease) in accrued expenses and other liabilities (156,181) (418,820)
Net cash provided by operating activities 94,890 243,681
Investing Activities:    
Purchases of available-for-sale securities (552,655) (244,434)
Proceeds from principal payments, maturities, and calls of available-for-sale securities 331,818 205,507
Proceeds from sale of available-for-sale securities 14,880 331,690
Purchases of held-to-maturity securities 0 (677,961)
Proceeds from principal payments, maturities, and calls of held-to-maturity securities 162,036 80,360
Net (increase) in Federal Home Loan Bank and Federal Reserve Bank stock (29,359) (54,569)
Alternative investments (capital calls), net of returns of capital (56,677) (4,192)
Proceeds from sales of alternative investments 4,970 0
Net (increase) in loans (653,556) (692,991)
Proceeds from sale of loans not originated for sale 38,877 49,440
Proceeds from sale of mortgage servicing rights 0 18,310
Proceeds from sale of foreclosed properties and repossessed assets 181 790
Proceeds from sale of property and equipment 1,428 1,042
Purchases of property and equipment (8,311) (5,057)
Proceeds from life insurance policies 8,004 3,977
Net cash paid for acquisition of Ametros 0 (359,460)
Net cash (used for) investing activities (738,364) (1,347,548)
Financing Activities:    
Net increase (decrease) in deposits 817,663 (26,850)
Net increase in Federal Home Loan Bank advances 799,903 1,299,912
Net (decrease) in securities sold under agreements to repurchase and federal funds purchased (260,773) (96,501)
Repayment of long-term debt 0 (132,550)
Payment of contingent consideration 0 (4,050)
Dividends paid to common stockholders (68,545) (68,599)
Dividends paid to preferred stockholders (4,163) (4,163)
Common stock repurchase program (180,987) (20,403)
Common shares acquired related to stock compensation plan activity (21,782) (13,496)
Net cash provided by financing activities 1,081,316 933,300
Net increase (decrease) in cash and cash equivalents 437,842 (170,567)
Cash and cash equivalents, beginning of period 2,074,434 1,715,795
Cash and cash equivalents, end of period $ 2,512,276 $ 1,545,228