Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Only Financial Information

NOTE 17 PARENT COMPANY ONLY FINANCIAL INFORMATION:

Presented below are condensed financial statements for the Parent Company.

BALANCE SHEETS

	December 31,
	2015			2014
	($ in Thousands)
ASSETS
Cash and due from banks	$	610,862		$	523,103
Investment securities available for sale, at fair value	61,847			76,159
Investment in subsidiaries	3,211,685			3,166,080
Other assets	73,781			94,332
Total assets	$	3,958,175		$	3,859,674
LIABILITIES AND STOCKHOLDERS’ EQUITY
Commercial paper	$	67,978		$	74,297
Senior notes, at par	680,000			680,000
Subordinated notes, at par	250,000			250,000
Long-term funding capitalized costs	(875		)	(143		)
Total long-term funding	929,125			929,857
Accrued expenses and other liabilities	23,826			55,269
Total liabilities	1,020,929			1,059,423
Preferred equity	121,379			59,727
Common equity	2,815,867			2,740,524
Total stockholders’ equity	2,937,246			2,800,251
Total liabilities and stockholders’ equity	$	3,958,175		$	3,859,674

STATEMENTS OF INCOME

	For the Years Ended December 31,
	2015			2014			2013
	($ in Thousands)
INCOME
Dividends from subsidiaries	$	205,000		$	223,000		$	262,000
Interest income on notes receivable	—			1,264			1,988
Other income	8,441			9,682			7,742
Total income	213,441			233,946			271,730
EXPENSE
Interest expense on short and long-term funding	39,576			24,847			27,167
Other expense	4,684			745			8,029
Total expense	44,260			25,592			35,196
Income before income tax benefit and equity in undistributed net income (loss) of subsidiaries	169,181			208,354			236,534
Income tax benefit	(1,665		)	(5,801		)	(7,086		)
Income before equity in undistributed net income (loss) of subsidiaries	170,846			214,155			243,620
Equity in undistributed net income (loss) of subsidiaries	17,455			(23,646		)	(54,928		)
Net income	188,301			190,509			188,692
Preferred stock dividends	7,155			5,002			5,158
Net income available to common equity	$	181,146		$	185,507		$	183,534

STATEMENTS OF CASH FLOWS

	For the Years Ended December 31,
	2015			2014			2013
	($ in Thousands)
OPERATING ACTIVITIES
Net income	$	188,301		$	190,509		$	188,692
Adjustments to reconcile net income to net cash provided by operating activities:
(Increase) decrease in equity in undistributed net income of subsidiaries	(17,455		)	23,646			54,928
Gain on sales of investment securities, net	—			(214		)	(456		)
Gain on sales of assets and impairment write-downs, net	(5,673		)	(5,609		)	(1,007		)
Net change in other assets and other liabilities	(10,997		)	(14,022		)	(103,954		)
Net cash provided by operating activities	154,176			194,310			138,203
INVESTING ACTIVITIES
Proceeds from sales of investment securities	13,962			88,844			55,445
Purchase of investment securities	—			—			(23,101		)
Net decrease in notes receivable	—			46,594			3,049
Purchase of other assets, net of disposals	11,964			10,930			2,407
Net cash provided by investing activities	25,926			146,368			37,800
FINANCING ACTIVITIES
Net increase (decrease) in short-term funding	(6,319		)	8,813			14,239
Proceeds from issuance of long-term funding	—			496,030			—
Repayment of long-term funding	—			(155,000		)	(25,821		)
Proceeds from issuance of preferred stock	62,966			—			—
Proceeds from issuance of common stock for stock-based compensation plans	20,054			13,228			9,305
Purchase of preferred stock	(1,335		)	(2,451		)	(1,626		)
Cash dividends	(69,555		)	(63,712		)	(60,149		)
Purchase of common stock returned to authorized but unissued	(93,000		)	(150,498		)	—
Purchase of treasury stock	(5,154		)	(112,312		)	(123,349		)
Net cash provided by (used in) financing activities	(92,343		)	34,098			(187,401		)
Net increase (decrease) in cash and cash equivalents	87,759			374,776			(11,398		)
Cash and cash equivalents at beginning of year	523,103			148,327			159,725
Cash and cash equivalents at end of year	$	610,862		$	523,103		$	148,327