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Parent Company Condensed Financial Statements | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Parent Company Condensed Financial Statements | Parent Company Condensed Financial Statements The following tables present the Parent Company-only condensed financial statements: CONDENSED BALANCE SHEET
|  | December 31,
($ in thousands) |  | 2024 |  | 2023
ASSETS |  |  |  |
Cash and cash equivalents due from banks |  | $ | 394,919 |  |  | $ | 445,770 |
Investments in subsidiaries: |  |  |  |
Bank |  | 7,251,084 |  |  | 6,542,852 |
Nonbank |  | 10,423 |  |  | 13,502 |
Other assets |  | 125,552 |  |  | 120,742 |
TOTAL |  | $ | 7,781,978 |  |  | $ | 7,122,866 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |
Long-term debt |  | $ | 32,001 |  |  | $ | 148,249 |
Other liabilities |  | 26,923 |  |  | 23,783 |
Stockholders’ equity |  | 7,723,054 |  |  | 6,950,834 |
TOTAL |  | $ | 7,781,978 |  |  | $ | 7,122,866 |
CONDENSED STATEMENT OF INCOME
|  | Year Ended December 31,
($ in thousands) |  | 2024 |  | 2023 |  | 2022
Dividends from subsidiaries: |  |  |  |  |  |
Bank |  | $ | 540,000 |  |  | $ | 704,000 |  |  | $ | 240,000 |
Nonbank |  | 127 |  |  | 322 |  |  | 157 |
Other investment losses |  | (954) |  |  | (2,738) |  |  | — |
Other income |  | 31 |  |  | — |  |  | — |
Total income |  | 539,204 |  |  | 701,584 |  |  | 240,157 |
Interest expense on long-term debt |  | 4,507 |  |  | 10,889 |  |  | 5,450 |
Compensation and employee benefits |  | 7,283 |  |  | 7,204 |  |  | 6,708 |
Other expense (income) (1) |  | 1,839 |  |  | (1,086) |  |  | 1,254 |
Total expense |  | 13,629 |  |  | 17,007 |  |  | 13,412 |
Income before income tax benefit and equity in undistributed income of subsidiaries |  | 525,575 |  |  | 684,577 |  |  | 226,745 |
Income tax benefit |  | 4,143 |  |  | 5,844 |  |  | 4,269 |
Undistributed earnings of subsidiaries, primarily bank |  | 635,868 |  |  | 470,740 |  |  | 897,069 |
Net income |  | $ | 1,165,586 |  |  | $ | 1,161,161 |  |  | $ | 1,128,083 |
(1)Includes $3 million and $2 million in DC Solar recoveries for the years ended December 31, 2023 and 2022, respectively. CONDENSED STATEMENT OF CASH FLOWS
|  | Year Ended December 31,
($ in thousands) |  | 2024 |  | 2023 |  | 2022
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |
Net income |  | $ | 1,165,586 |  |  | $ | 1,161,161 |  |  | $ | 1,128,083 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Undistributed earnings of subsidiaries, principally bank |  | (635,868) |  |  | (470,740) |  |  | (897,069) |
Deferred income tax expense (benefit) |  | 2,788 |  |  | 948 |  |  | (2,193) |
Net change in other assets |  | (6,912) |  |  | (4,160) |  |  | 4,250 |
Net change in other liabilities |  | (802) |  |  | (47) |  |  | 779 |
Other operating activities, net |  | 1,265 |  |  | 2,443 |  |  | 1,333 |
Net cash provided by operating activities |  | 526,057 |  |  | 689,605 |  |  | 235,183 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |
Redemption of trust preferred securities |  | 3,558 |  |  | — |  |  | — |
Other investing activities, net |  | (494) |  |  | (95,095) |  |  | (7,390) |
Net cash provided by (used in) investing activities |  | 3,064 |  |  | (95,095) |  |  | (7,390) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |
Long-term debt: |  |  |  |  |  |
Repayment of junior subordinated debt |  | (116,558) |  |  | — |  |  | — |
Common stock: |  |  |  |  |  |
Proceeds from issuance pursuant to various stock compensation plans and agreements |  | 3,023 |  |  | 3,208 |  |  | 3,178 |
Stock tendered for payment of withholding taxes |  | (14,877) |  |  | (23,751) |  |  | (19,087) |
Repurchase of common stock pursuant to the stock repurchase program |  | (143,082) |  |  | (82,174) |  |  | (99,990) |
Cash dividends paid |  | (308,478) |  |  | (274,554) |  |  | (228,381) |
Net cash used in financing activities |  | (579,972) |  |  | (377,271) |  |  | (344,280) |
Net (decrease) increase in cash and cash equivalents |  | (50,851) |  |  | 217,239 |  |  | (116,487) |
Cash and cash equivalents, beginning of year |  | 445,770 |  |  | 228,531 |  |  | 345,018 |
Cash and cash equivalents, end of year |  | $ | 394,919 |  |  | $ | 445,770 |  |  | $ | 228,531 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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