XML 32 R9.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net income $ 1,002,802 $ 768,707 $ 867,840
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 210,000 222,000 150,747
Deferred income tax expense (benefit) 47,588 18,183 (53,634)
Stock-based compensation 56,823 55,141 54,087
Depreciation and amortization of property and equipment and intangible assets 73,346 71,531 76,490
Net (accretion) and amortization of interest-earning assets and borrowings (165,552) (95,281) (23,267)
Amortization of low-income housing tax credit investments 115,274 80,902 71,775
Reduction of ROU lease assets 29,960 31,275 30,616
Net (gain) loss on sale of investment securities (220) 136,224 33,620
Originations of loans held for sale (9,843) (6,806) (13,319)
Proceeds from sale of loans held for sale 8,068 8,310 13,882
Net loss on sale of factored receivables portfolio 0 15,977 0
Net (gain) on sale of mortgage servicing rights 0 (11,655) 0
(Increase) in cash surrender value of life insurance policies (33,219) (27,712) (26,228)
(Gain) from life insurance policies (4,777) (14,065) (3,566)
(Gain) on extinguishment of long-term debt (9,767) 0 (698)
(Gain) on sale of alternative investments (8,806) (14,763) 0
Other operating activities, net (16,042) (15,998) 2,760
Net decrease (increase) in loans held for sale 3 (49,566) 0
Net (increase) decrease in derivative contract assets and liabilities (185,003) 20,526 (73,295)
Net decrease (increase) in prepaid expenses and other assets 37,177 246,752 (13,774)
Net (decrease) in accrued expenses and other liabilities (89,676) (35,382) (115,387)
Net cash provided by operating activities 1,058,136 1,404,300 978,649
Investing Activities:      
Purchases of available-for-sale investment securities (1,990,902) (3,202,766) (2,372,249)
Proceeds from principal payments, maturities, and calls of available-for-sale investment securities 1,292,532 892,965 591,207
Proceeds from sale of available-for-sale investment securities 14,880 2,142,462 789,603
Purchases of held-to-maturity investment securities 0 (1,778,098) (891,761)
Proceeds from principal payments, maturities, and calls of held-to-maturity investment securities 538,566 457,433 390,073
Net (increase) decrease in Federal Home Loan Bank and Federal Reserve Bank stock (35,068) 5,539 119,018
Alternative investments (capital calls), net of returns of capital (293,451) (160,062) (27,430)
Proceeds from sales of alternative investments 13,441 19,588 0
Net (increase) in loans (4,632,549) (2,488,796) (1,653,257)
Proceeds from sale of loans not originated for sale 400,017 569,538 625,968
Proceeds from sale of mortgage servicing rights 0 18,588 0
Proceeds from sale of foreclosed properties and repossessed assets 2,055 8,526 4,033
Proceeds from sale of property and equipment 4,337 6,769 6,894
Purchases of property and equipment (49,566) (35,844) (40,303)
Proceeds from life insurance policies 18,574 34,358 20,098
Cash paid for acquisitions of HSA deposits (6,428) 0 0
Net cash (used in) investing activities (4,747,963) (3,869,260) (2,595,752)
Financing Activities:      
Net increase in deposits 4,006,261 3,697,887 6,721,028
Net increase (decrease) in Federal Home Loan Bank advances 870,610 (249,910) (3,100,534)
Net increase (decrease) in securities sold under agreements to repurchase and federal funds purchased 252,570 (114,219) (693,443)
Repayment of long-term debt (499,000) (132,550) (16,752)
Proceeds from the issuance of long-term debt 347,389 0 0
Debt issuance costs (1,636) 0 0
Payment of contingent consideration (11,447) (4,050) 0
Dividends paid to common stockholders (266,830) (274,545) (278,155)
Dividends paid to preferred stockholders (16,650) (16,650) (16,650)
Exercise of stock options 67 254 1,723
Common stock repurchase program (593,654) (65,403) (107,984)
Common shares acquired related to stock compensation plan activity (22,762) (17,215) (16,278)
Net cash (used in) financing activities 4,064,918 2,823,599 2,492,955
Net (decrease) increase in cash and cash equivalents 375,091 358,639 875,852
Cash and cash equivalents, beginning of period 2,074,434 1,715,795 839,943
Cash and cash equivalents, at end of period 2,449,525 2,074,434 1,715,795
SecureSave      
Investing Activities:      
Net cash paid for acquisition (24,401) 0 0
Ametros      
Investing Activities:      
Net cash paid for acquisition 0 (359,460) 0
interLINK      
Investing Activities:      
Net cash paid for acquisition $ 0 $ 0 $ (157,646)