Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Balance Sheets


	December 31,
($ in Thousands)	2020		2019
Assets
Cash and due from banks	$	40,204	$	17,427
Interest-bearing deposits in other financial institutions	15,228		27,186

Notes and interest receivable from subsidiaries	305,779		201,551
Investments in and receivable due from subsidiaries	4,005,198		3,925,596
Other assets	46,850		46,234
Total assets	$	4,413,259	$	4,217,994
Liabilities and Stockholders' Equity
Commercial paper	$	59,346	$	32,016

Subordinated notes, at par	250,000		250,000
Long-term funding capitalized costs	(1,133)		(1,428)
Total long-term funding	248,867		248,572
Accrued expenses and other liabilities	14,113		15,282
Total liabilities	322,326		295,870
Preferred equity	353,512		256,716
Common equity	3,737,421		3,665,407
Total stockholders’ equity	4,090,933		3,922,124
Total liabilities and stockholders’ equity	$	4,413,259	$	4,217,994

Parent Company Income Statement

Statements of Income


	For the Years Ended December 31,
($ in Thousands)	2020		2019		2018
Income
Income from subsidiaries	$	317,895	$	341,789	$	354,637
Interest income on notes receivable from subsidiaries	3,257		13,983		12,199
Other income	933		761		994
Total income	322,084		356,532		367,830
Expense
Interest expense on short and long-term funding	10,960		16,802		18,355
Other expense	6,422		6,583		11,736
Total expense	17,383		23,384		30,091
Income before income tax expense	304,702		333,148		337,739
Income tax expense (benefit)	(2,070)		6,359		4,176
Net income	306,771		326,790		333,562
Preferred stock dividends	18,358		15,202		10,784
Net income available to common equity	$	288,413	$	311,587	$	322,779

Parent Company Statement of Cash Flows

Statements of Cash Flows


	For the Years Ended December 31,
($ in Thousands)	2020		2019		2018
Cash Flows from Operating Activities
Net income	$	306,771	$	326,790	$	333,562
Adjustments to reconcile net income to net cash provided by operating activities:
(Increase) decrease in equity in undistributed net income (loss) of subsidiaries	(61,406)		(21,789)		(18,636)



Net change in other assets and accrued expenses and other liabilities	(49,890)		265		(92,366)

Net cash provided by operating activities	195,475		305,266		222,562
Cash Flows from Investing Activities
Proceeds from sales of investment securities	—		—		827
Net (increase) decrease in notes receivable from subsidiaries	(105,000)		250,000		(139,317)


Net (increase) decrease in loans	—		—		2,210
Net cash provided by (used in) investing activities	(105,000)		250,000		(136,280)
Cash Flows from Financing Activities
Net increase (decrease) in commercial paper	27,330		(13,406)		(22,044)

Redemption of Corporation's senior notes	—		(250,000)		—
Proceeds from issuance of common stock for stock-based compensation plans	3,966		11,216		18,408
Proceeds from issuance of preferred stock	96,796		—		97,315

Purchase of preferred stock	—		—		(537)
Common stock warrants exercised	—		—		(1)
Purchase of common stock returned to authorized but unissued	—		—		(33,075)
Issuance of treasury stock for acquisition	—		—		91,296
Purchase of treasury stock, open market purchases	(71,255)		(177,484)		(206,450)
Purchase of treasury stock, stock-based compensation plans	(6,113)		(8,592)		(7,148)
Cash dividends on common stock	(112,023)		(111,804)		(105,519)
Cash dividends on preferred stock	(18,358)		(15,202)		(10,784)
Net cash used in financing activities	(79,656)		(565,272)		(178,540)
Net increase (decrease) in cash and cash equivalents	10,819		(10,006)		(92,258)
Cash and cash equivalents at beginning of year	44,613		54,619		146,877
Cash and cash equivalents at end of year	$	55,432	$	44,613	$	54,619