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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 $ 790,192 $ 479,451 $ 542,141
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for (reversal of) credit losses 68,871 136,685 189,079
Depreciation, amortization, and accretion, net 57,389 60,408 93,458
Deferred income tax expense (benefit) 31,891 19,371 16,837
Originations of loans held for sale (7,823,113) (6,179,459) (600,671)
Proceeds from sales of loans held for sale 7,818,137 6,151,247 945,944
Gain on sales of loans held for sale, net (11,414) (9,657) (9,700)
(Increase) decrease in other assets 14,054 (389,458) (285,823)
Increase (decrease) in other liabilities (303,659) 265,561 244,335
Investment securities (gains) losses, net (704) 256,660 76,718
Share-based compensation expense 34,144 32,049 32,224
Loss on sales of loans 0 0 50,064
Loss (gain) on early extinguishment of long-term debt 1,344 0 (5,400)
Net gain on sales of other real estate and other assets held for sale (1,058) (1,828) (4,654)
Other 0 0 (1,929)
Net cash provided by (used in) operating activities 676,074 821,030 1,282,623
Investing Activities      
Net cash received (paid) for business combination and divestiture 0 0 8,359
Proceeds from maturities and principal collections of investment securities held to maturity 237,667 187,046 0
Proceeds from maturities and principal collections of investment securities available for sale 621,799 614,733 937,967
Proceeds from sales of investment securities available for sale 222,593 1,365,923 1,301,520
Purchases of investment securities available for sale (409,656) (2,640,980) (2,150,430)
Net proceeds from sales of loans 25,157 37,453 1,651,154
Purchases of loans 0 0 (10,623)
Net (increase) decrease in loans (2,134,511) 615,363 (1,524,681)
Net (purchases) redemptions of Federal Reserve Bank stock (517) (12,655) (5,081)
Net (purchases) redemptions of Federal Home Loan Bank stock (35,895) 33,225 128,458
Net (purchases) proceeds from settlement of bank-owned life insurance policies 16,807 6,496 8,773
Net increase in premises, equipment and software (33,185) (56,152) (32,207)
Proceeds from sales of other real estate and other assets held for sale 4,549 27,119 10,757
Net cash provided by (used in) investing activities (1,485,192) 177,571 323,966
Financing Activities      
Net increase (decrease) in deposits 215,941 343,683 1,858,349
Net increase (decrease) in federal funds purchased and securities sold under repurchase agreements (82,880) (57,346) 42,486
Net increase (decrease) in other short-term borrowings 0 (3,496) (599,888)
Repayments and redemption of long-term debt (1,951,345) (1,850,000) (5,404,731)
Proceeds from long-term debt, net 2,645,921 1,646,791 3,220,912
Dividends paid to common shareholders (270,821) (220,128) (216,061)
Dividends paid to preferred shareholders (45,325) (40,696) (35,950)
Issuances, net of taxes paid, under equity compensation plans (16,428) (2,505) 1,940
Repurchase of common stock (142,227) (272,343) 0
Net cash provided by (used in) financing activities 352,836 (456,040) (1,132,943)
Increase (decrease) in cash and cash equivalents including restricted cash (456,282) 542,561 473,646
Cash, cash equivalents, and restricted cash at beginning of year 2,993,987 2,451,426 1,977,780
Cash, cash equivalents, and restricted cash at end of year 2,537,705 2,993,987 2,451,426
Supplemental Disclosures      
Interest paid [1] 1,274,093 1,467,099 1,112,905
Non-cash Activities:      
Early surrender of BOLI policies 220,247 0 0
Loans foreclosed and transferred to other real estate 22,488 21,992 0
Investment securities transferred from available for sale to held to maturity 0 2,715,635 0
Settlement of acquired debt $ 0 $ 0 $ 31,109
[1] Disclosures of income taxes paid are presented in Note 16 - Income Taxes pursuant to our adoption of ASU 2023-09. Refer to Note 1 - Summary of Significant Accounting Policies for additional information related to our adoption of this ASU