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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 305,392,000 $ 194,820,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit loss 27,879,000 13,741,000
Specific reserve, other real estate owned 2,510,000 416,000
Depreciation of bank premises and equipment 16,362,000 16,355,000
Gain on sale of bank premises and equipment (198,000) (3,426,000)
Gain on sale of other real estate owned (6,833,000) (1,781,000)
Accretion of investment securities discounts (1,431,000) (1,257,000)
Amortization of investment securities premiums 5,244,000 11,617,000
Investment securities transactions, net 3,000  
Unrealized loss on equity securities with readily determinable fair values 200,000 728,000
Stock based compensation expense 255,000 347,000
Earnings from affiliates and other investments (367,000) (9,960,000)
Deferred tax expense (benefit) 4,747,000 (1,838,000)
Increase in accrued interest receivable (11,872,000) (6,483,000)
Increase in other assets (38,158,000) (7,325,000)
Increase in other liabilities 37,927,000 82,553,000
Net cash provided by operating activities 341,660,000 288,507,000
Investing activities:    
Proceeds from maturities of securities 51,167,000 2,200,000
Proceeds from sales and calls of available for sale securities 2,045,000 800,000
Purchases of available for sale securities (980,571,000) (1,160,632,000)
Principal collected on mortgage backed securities 474,282,000 605,706,000
Net (increase) decrease in loans (471,695,000) 153,278,000
Purchases of other investments (25,431,000) (72,799,000)
Distributions from other investments 8,773,000 5,995,000
Purchases of bank premises and equipment (19,079,000) (12,798,000)
Proceeds from sales of bank premises and equipment 269,000 12,523,000
Proceeds from sales of other real estate owned 7,777,000 8,427,000
Net cash used in investing activities (952,463,000) (457,300,000)
Financing activities:    
Net (decrease) increase in non-interest bearing demand deposits (629,637,000) 162,603,000
Net (decrease) increase in savings and interest bearing demand deposits (388,433,000) 158,665,000
Net increase (decrease) in time deposits 274,672,000 (58,630,000)
Net increase in securities sold under repurchase agreements 73,090,000 67,471,000
Net decrease in other borrowed funds (148,000) (145,000)
Redemption of long-term debt (25,774,000)  
Purchase of treasury stock (4,487,000) (51,939,000)
Proceeds from stock transactions 654,000 732,000
Payments of cash dividends (78,247,000) (75,375,000)
Net cash (used in) provided by financing activities (778,310,000) 203,382,000
(Decrease) increase in cash and cash equivalents (1,389,113,000) 34,589,000
Cash and cash equivalents at beginning of period 2,087,724,000 3,209,242,000
Cash and cash equivalents at end of period 698,611,000 3,243,831,000
Supplemental cash flow information:    
Interest paid 77,834,000 21,604,000
Income taxes paid 69,799,000 1,980,000
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned $ 554,000 204,000
Net transfers from bank premises and equipment to other assets   $ 2,476,000