Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Only Financial Information

Parent Company Only Financial Information

Presented below are condensed financial statements for the Parent Company.

BALANCE SHEETS

	December 31,
	2017			2016
	($ in Thousands)
Assets
Cash and due from banks	$	146,877		$	402,786
Investment securities available for sale, at fair value	11,645			14,389
Notes and interest receivable from subsidiaries	301,378			—
Investments in and receivable due from subsidiaries	3,320,090			3,256,763
Other assets	51,466			53,242
Total assets	$	3,831,456		$	3,727,180
Liabilities and Stockholders' Equity
Commercial paper	$	67,467		$	101,688
Senior notes, at par	250,000			250,000
Subordinated notes, at par	250,000			250,000
Long-term funding capitalized costs	(2,718		)	(3,393		)
Total long-term funding	497,282			496,607
Accrued expenses and other liabilities	29,264			37,573
Total liabilities	594,013			635,868
Preferred equity	159,929			159,929
Common equity	3,077,514			2,931,383
Total stockholders’ equity	3,237,443			3,091,312
Total liabilities and stockholders’ equity	$	3,831,456		$	3,727,180

STATEMENTS OF INCOME

	For the Years Ended December 31,
	2017		2016		2015
	($ in Thousands)
Income
Dividends from subsidiaries	$	213,000	$	188,000	$	205,000
Interest income on notes receivable from subsidiaries	4,175		—		—
Other income	1,763		4,669		8,441
Total income	218,938		192,669		213,441
Expense
Interest expense on short and long-term funding	18,464		21,901		39,576
Other expense	6,927		4,289		4,684
Total expense	25,391		26,190		44,260
Income before income tax expense (benefit) and equity in undistributed net income (loss) of subsidiaries	193,547		166,479		169,181
Income tax expense (benefit)	4,768		3,468		(1,665		)
Income before equity in undistributed net income (loss) of subsidiaries	188,779		163,011		170,846
Equity in undistributed net income (loss) of subsidiaries	40,485		37,263		17,455
Net income	229,264		200,274		188,301
Preferred stock dividends	9,347		8,903		7,155
Net income available to common equity	$	219,917	$	191,371	$	181,146

STATEMENTS OF CASH FLOWS

	For the Years Ended December 31,
	2017			2016			2015
	($ in Thousands)
Cash Flows from Operating Activities
Net income	$	229,264		$	200,274		$	188,301
Adjustments to reconcile net income to net cash provided by operating activities:
(Increase) decrease in equity in undistributed net income (loss) of subsidiaries	(40,485		)	(37,263		)	(17,455		)
(Gain) loss on sales of investment securities, net of impairment write-downs	—			(466		)	—
(Gain) loss on sales of assets, net	(88		)	(793		)	(5,673		)
Net change in other assets and other liabilities	(9,589		)	19,708			(10,997		)
Net cash provided by operating activities	179,102			181,460			154,176
Cash Flows from Investing Activities
Proceeds from sales of investment securities	2,618			47,719			13,962
Net increase in notes receivable from subsidiaries	(300,000		)	—			—
Purchase of other assets, net of disposals	1,058			2,211			11,964
Net cash provided by (used in) investing activities	(296,324		)	49,930			25,926
Cash Flows from Financing Activities
Net increase (decrease) in commercial paper	(34,221		)	33,710			(6,319		)
Repayment of long-term funding	—			(430,000		)	—
Proceeds from issuance of common stock for stock-based compensation plans	27,619			21,748			20,054
Proceeds from issuance of preferred stock	—			97,066			62,966
Redemption of preferred stock	—			(58,903		)	—
Purchase of preferred stock	—			(1,248		)	(1,335		)
Purchase of common stock returned to authorized but unissued	(37,031		)	(20,007		)	(93,000		)
Purchase of treasury stock for tax withholding	(9,290		)	(5,074		)	(5,154		)
Cash dividends on common stock	(76,417		)	(67,855		)	(62,400		)
Cash dividends on preferred stock	(9,347		)	(8,903		)	(7,155		)
Net cash used in financing activities	(138,687		)	(439,466		)	(92,343		)
Net increase (decrease) in cash and cash equivalents	(255,909		)	(208,076		)	87,759
Cash and cash equivalents at beginning of year	402,786			610,862			523,103
Cash and cash equivalents at end of year	146,877			402,786			610,862