Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Consolidated Balance Sheet of Parent Company Only

Balance Sheets(in millions) December 31	2018		2017
Assets
Cash and cash equivalents	$	254	$	166
Securities available for sale	—		1
Other assets	19		22
Investment in bank subsidiary	4,754		4,554
Investments in and advances to non-bank subsidiaries	97		294
Total Assets	$	5,124	$	5,037
Liabilities
Other liabilities	$	32	$	33
Advances from affiliates	197		306
Long-term borrowings	279		280
Subordinated notes:
Short-term	7		8
Long-term	1		1
Total Liabilities	516		628
Stockholders’ Equity	4,608		4,409
Total Liabilities and Stockholders’ Equity	$	5,124	$	5,037

Statements of Income of Parent Company Only

Statements of Income (in millions) Year Ended December 31	2018			2017		2016
Income
Dividend income from subsidiaries:
Bank	$	162		$	149	$	109
Non-bank	8			9		9
	170			158		118
Interest income	4			5		5
Other income	5			—		3
Total Income	179			163		126
Expenses
Interest expense	20			18		14
Other expenses	15			10		10
Total Expenses	35			28		24
Income Before Taxes and Equity in Undistributed Income of Subsidiaries	144			135		102
Income tax benefit	6			3		6
	150			138		108
Equity in undistributed income (loss) of subsidiaries:
Bank	225			60		61
Non-bank	(2		)	1		2
Net Income	$	373		$	199	$	171

Statements of Cash Flows of Parent Company Only

Statements of Cash Flows (in millions) Year Ended December 31	2018			2017			2016
Operating Activities
Net income	$	373		$	199		$	171
Adjustments to reconcile net income to net cash flows from operating activities:
Undistributed earnings from subsidiaries	(222		)	(61		)	(63		)
Other, net	(13		)	6			(3		)
Net cash flows provided by operating activities	138			144			105
Investing Activities
Proceeds from sale of securities available for sale	1			—			1
Net (increase) decrease in advances to subsidiaries	20			(10		)	(6		)
Payment for further investment in subsidiaries	(22		)	(4		)	(71		)
Net cash received in business combinations	123			3			1
Net cash flows (used in) provided by investing activities	122			(11		)	(75		)
Financing Activities
Net decrease in advance from affiliate	(19		)	10			6
Net decrease in short-term borrowings	(1		)	—			—
Decrease in long-term debt	(2		)	(2		)	(10		)
Increase in long-term debt	1			1			—
Net proceeds from issuance of common stock	14			11			18
Tax benefit of stock-based compensation	—			—			2
Cash dividends paid:
Preferred stock	(8		)	(8		)	(8		)
Common stock	(157		)	(143		)	(102		)
Net cash flows (used in) provided by financing activities	(172		)	(131		)	(94		)
Net (Decrease) Increase in Cash and Cash Equivalents	88			2			(64		)
Cash and cash equivalents at beginning of year	166			164			228
Cash and Cash Equivalents at End of Year	$	254		$	166		$	164
Cash paid during the year for:
Interest	$	17		$	16		$	14