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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income $ 243,519 $ 180,055
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 6,900 16,500
Net amortization of premiums and discounts from acquisition 736 251
Depreciation and amortization 26,194 27,714
Amortization of debt issuance costs 225 225
Deferred income tax expense 584 825
Net decrease (increase) in trading securities and other earning assets 22,229 (19,006)
Gains on investment securities, net (60,198) (7,119)
Gains on sales of assets (3,184) (3,358)
Amortization of securities premiums, net of discount accretion 22,964 29,373
Originations of loans held for sale (21,131) (83,962)
Gains on sales of loans held for sale, net (609) (3,242)
Proceeds from sales of loans held for sale 22,267 88,609
Equity-based compensation 11,902 9,304
Net tax benefit related to equity compensation plans 2,313 1,743
Changes in:    
Accrued income (13,871) 4,501
Accrued expenses and taxes (68,434) (61,192)
Other assets and liabilities, net 213,403 (3,964)
Net cash provided by operating activities 405,809 177,257
Securities held to maturity:    
Maturities, calls and principal repayments 223,317 110,262
Purchases (851,840) (179,657)
Securities available for sale:    
Sales 0 176,802
Maturities, calls and principal repayments 725,027 957,564
Purchases (1,151,486) (2,322,572)
Equity securities with readily determinable fair values:    
Sales 17,081 72,801
Purchases (700) (508)
Equity securities without readily determinable fair values:    
Sales 13 2,499
Maturities, calls and principal repayments 83  
Purchases (16,232) (11,928)
Payment on low-income housing tax credit investment commitments (22,096) (5,695)
Net increase in loans (1,889,693) (846,915)
Net decrease in fed funds sold and resell agreements 160,898 503,814
Net cash activity from acquisitions and divestitures 257,767 18,431
Net decrease (increase) in interest-bearing balances due from other financial institutions 38,596 (29,066)
Purchases of premises and equipment (16,889) (15,391)
Proceeds from sales of premises and equipment 6,644 1,828
Purchases of bank-owned and company-owned life insurance   (100,000)
Net cash used in investing activities (2,519,510) (1,667,731)
FINANCING ACTIVITIES    
Net (decrease) increase in demand and savings deposits (4,042,398) 3,195,002
Net decrease in time deposits (298,259) (197,782)
Net (decrease) increase in fed funds purchased and repurchase agreements (577,152) 467,892
Cash dividends paid (35,790) (30,935)
Proceeds from exercise of stock options and sales of treasury shares 1,029 14,425
Purchases of treasury stock (31,806) (4,088)
Net cash (used in) provided by financing activities (4,984,376) 3,444,514
(Decrease) increase in cash and cash equivalents (7,098,077) 1,954,040
Cash and cash equivalents at beginning of period 9,214,564 3,497,566
Cash and cash equivalents at end of period 2,116,487 5,451,606
Supplemental disclosures:    
Income tax payments 54,785 48,003
Total interest payments 31,239 24,388
Noncash disclosures:    
Acquisition of low-income housing tax credit investments 27,490 12,622
Commitment to fund low-income housing tax credit investments 27,490 $ 12,622
Transfer of loans to other real estate owned 12,313  
Transfer of securities from available-for-sale to held-to-maturity $ 3,593,711