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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative effect adoption adjustment
Common Stock
Preferred Stock
Capital surplus
Retained earnings
Retained earnings
Cumulative effect adoption adjustment
Treasury stock
Accumulated other comprehensive income (loss)
Beginning balance at Dec. 31, 2021 $ 5,969,397   $ 1,046 $ 22,143 $ 4,650,182 $ 2,973,745   $ (1,352,650) $ (325,069)
Increase Decrease In Stockholders Equity                  
Net income 211,686         211,686      
Issuance of stock 1,199   0   1,199        
Dividends declared:                  
Common stock [1] (42,074)         (42,074)      
Preferred stock (353)         (353)      
Common stock purchases [2] (404,920)       (80,000)     (324,920)  
Stock based compensation 8,480       (270)     8,750  
Other comprehensive (loss) income, net of tax (1,072,169)               (1,072,169)
Ending balance at Mar. 31, 2022 4,671,246   1,046 22,143 4,571,111 3,143,004   (1,668,820) (1,397,238)
Beginning balance at Dec. 31, 2022 4,093,425   1,047 22,143 4,790,993 3,834,348   (2,030,178) (2,524,928)
Increase Decrease In Stockholders Equity                  
Net income 158,979         158,979      
Issuance of stock 1,567       1,567        
Dividends declared:                  
Common stock (39,586)         (39,586)      
Preferred stock (353)         (353)      
Common stock purchases (2,970)       0     (2,970)  
Stock based compensation 7,808       59     7,749  
Other comprehensive (loss) income, net of tax 223,103               223,103
Ending balance at Mar. 31, 2023 $ 4,470,725 $ 28,752 $ 1,047 $ 22,143 $ 4,792,619 $ 3,982,140 $ 28,752 $ (2,025,399) $ (2,301,825)
[1]
Dividends declared per common share during the quarter
 
ended March 31, 2023 - $
0.55
 
(2022 - $
0.55
).
[2]
During the quarter
 
ended March 31,
 
2022, the Corporation
 
entered into a
 
$
400
 
million accelerated share
 
repurchase transaction with
 
respect to
its common stock, which was accounted for as a treasury
 
stock transaction. Refer to Note 18 for additional information.