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CIK:0001331520|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income:
Loans	$ 298,066	$ 276,041	$ 571,539	$ 546,825
Investment securities
Taxable	25,787	26,444	50,515	53,877
Tax-exempt	7,811	7,626	15,640	15,276
Deposits – other banks	5,135	8,951	10,080	15,571
Federal funds sold	37	53	85	108
Total interest income	336,836	319,115	647,859	631,657
Interest expense:
Interest on deposits	87,432	88,489	166,577	175,275
FHLB and other borrowed funds	4,346	5,539	9,038	11,441
Securities sold under agreements to repurchase	1,057	1,012	1,984	2,086
Subordinated debentures	2,358	4,123	4,713	8,247
Total interest expense	95,193	99,163	182,312	197,049
Net interest income	241,643	219,952	465,547	434,608
Provision for credit losses on loans	5,200	3,000	6,700	3,000
Recovery of credit losses on unfunded commitments	0	0	(1,000)	0
Total credit loss expense	5,200	3,000	5,700	3,000
Net interest income after credit loss expense	236,443	216,952	459,847	431,608
Non-interest income:
Trust fees	6,109	5,234	11,591	9,994
Mortgage lending income	5,139	4,780	9,569	8,379
Insurance commissions	578	589	1,114	1,124
Increase in cash value of life insurance	1,553	1,415	2,921	3,257
Dividends from FHLB, FRB, FNBB & other	2,841	2,657	5,377	5,375
Gain on sale of SBA loans	0	0	80	288
Gain (loss) on sale of branches, equipment and other assets, net	3	972	(4)	809
Gain (loss) on OREO, net	332	13	1,039	(363)
Fair value adjustment for marketable securities	817	(238)	(431)	204
Other income	13,079	13,462	22,181	24,904
Total non-interest income	53,454	51,079	96,257	96,505
Non-interest expense:
Salaries and employee benefits	68,742	64,318	131,978	126,173
Occupancy and equipment	15,787	14,023	30,654	28,448
Data processing expense	9,307	8,364	18,191	16,922
Merger and acquisition expenses	12,726	0	13,120	0
Other operating expenses	28,932	29,335	55,526	57,425
Total non-interest expense	135,494	116,040	249,469	228,968
Income before income taxes	154,403	151,991	306,635	299,145
Income tax expense	35,076	33,588	69,099	65,533
Net income	$ 119,327	$ 118,403	$ 237,536	$ 233,612
Basic earnings per share (in dollars per share)	$ 0.59	$ 0.60	$ 1.19	$ 1.18
Diluted earnings per share (in dollars per share)	$ 0.59	$ 0.60	$ 1.19	$ 1.18
Service charges on deposit accounts
Non-interest income:
Service charges	$ 10,030	$ 9,552	$ 20,037	$ 19,202
Other service charges and fees
Non-interest income:
Service charges	$ 12,973	$ 12,643	$ 22,783	$ 23,332

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Operating Activities
Net income	$ 119,327	$ 118,403	$ 237,536		$ 233,612
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation & amortization			15,958		14,318
Decrease (increase) in value of equity securities	(817)	238	431		(204)
Increase in value of equity method investments			(5,032)		(8,958)
Amortization of securities, net			5,236		6,545
Accretion of purchased loans			(3,618)		(2,611)
Share-based compensation			8,405		5,456
Gain (loss) on assets			(1,115)		(1,977)
Provision for credit losses - loans	5,200	3,000	6,700	$ 21,100	3,000
Recovery of credit losses - unfunded commitments	0	0	(1,000)		0
Deferred income tax effect	(3,117)	(1,007)	5,049		5,430
Increase in cash value of life insurance	(1,553)	(1,415)	(2,921)		(3,257)
Originations of mortgage loans held for sale			(506,121)		(349,313)
Proceeds from sales of mortgage loans held for sale			490,393		293,136
Changes in assets and liabilities:
Accrued interest receivable			5,897		12,397
Other assets			4,863		(34,086)
Accrued interest payable and other liabilities			(12,382)		21,924
Net cash provided by operating activities			248,279		195,412
Investing Activities
Net (increase) decrease in federal funds sold			(2,450)		1,125
Net decrease (increase) in loans, excluding purchased loans			34,667		(361,119)
Purchases of investment securities – available-for-sale			(33,407)		(19,521)
Proceeds from maturities of investment securities – available-for-sale			222,652		212,672
Proceeds from maturities of investment securities – held-to-maturity			4,672		9,995
Purchases of equity securities			0		(5,000)
Proceeds from sales of equity securities			2,000		0
Redemption of other investments			1,663		10,152
Purchases for improvements to foreclosed assets			0		(2,747)
Proceeds from sale of foreclosed assets			9,078		7,014
Proceeds from sale of SBA loans			1,285		4,308
Purchases of premises and equipment			(14,894)		(14,882)
Proceeds from sale of premises and equipment			2,663		11,749
Return of investment on cash value of life insurance, net			331		6,161
Net cash received - market acquisition			88,174		0
Net cash provided by (used in) investing activities			316,434		(140,093)
Financing Activities
Net increase in deposits			90,815		342,135
Net increase (decrease) in securities sold under agreements to repurchase			2,941		(21,537)
Decrease in FHLB and other borrowed funds			(135,000)		(50,250)
Proceeds from exercise of stock options, net			0		602
Repurchase of common stock			(54,739)		(57,293)
Dividends paid on common stock			(83,548)		(78,250)
Net cash (used in) provided by financing activities			(179,531)		135,407
Net change in cash and cash equivalents			385,182		190,726
Cash and cash equivalents – beginning of year			667,337	1,101,073	910,347
Cash and cash equivalents – end of period	$ 1,052,519	$ 1,101,073	$ 1,052,519	$ 667,337	$ 1,101,073

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 279,660	$ 237,224
Interest-bearing deposits with other banks	772,859	430,113
Cash and cash equivalents	1,052,519	667,337
Fed funds sold	5,450	3,000
Investment securities — available-for-sale, net of allowance for credit losses of $0 at both June 30, 2026 and December 31, 2025 (amortized cost of $2,997,415 and $3,088,820 at June 30, 2026 and December 31, 2025, respectively)	2,776,216	2,871,931
Investment securities — held-to-maturity, net of allowance for credit losses of $2,005 at both June 30, 2026 and December 31, 2025	1,254,802	1,259,262
Total investment securities	4,031,018	4,131,193
Loans receivable	17,127,208	15,686,209
Allowance for credit losses	(328,369)	(297,583)
Loans receivable, net	16,798,839	15,388,626
Bank premises and equipment, net	437,552	369,324
Foreclosed assets held for sale	42,139	39,831
Cash value of life insurance	233,515	220,469
Accrued interest receivable	108,384	108,939
Deferred tax asset, net	153,803	148,022
Goodwill	1,410,211	1,398,253
Core deposit intangibles	65,541	32,293
Other assets	374,277	374,592
Total assets	24,713,248	22,881,879
Deposits:
Demand and non-interest-bearing	4,447,710	3,868,405
Savings and interest-bearing transaction accounts	12,423,361	11,792,828
Time deposits	2,242,034	1,818,724
Total deposits	19,113,105	17,479,957
Securities sold under agreements to repurchase	158,744	155,803
FHLB and other borrowed funds	450,250	500,250
Accrued interest payable and other liabilities	164,112	169,733
Subordinated debentures	279,602	279,265
Total liabilities	20,165,813	18,585,008
Stockholders’ equity:
Common stock, par value $0.01; shares authorized 400,000,000 in 2026 and 2025; shares issued and outstanding 200,460,097 in 2026 and 196,357,167 in 2025	2,005	1,964
Capital surplus	2,301,551	2,201,923
Retained earnings	2,412,859	2,258,871
Accumulated other comprehensive loss	(168,980)	(165,887)
Total stockholders’ equity	4,547,435	4,296,871
Total liabilities and stockholders’ equity	$ 24,713,248	$ 22,881,879