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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Schedule of Parent Company Information Condensed Balance Sheets |
CONDENSED BALANCE SHEETS |  |  |
| December 31,
(In thousands) | 2024 |  | 2023
Assets: |  |  |
Cash and cash equivalents | $ | 456,166 |  |  | $ | 406,754 |
Intercompany debt securities | 150,000 |  |  | 150,000 |
Investment in subsidiaries | 9,377,808 |  |  | 9,131,026 |
Alternative investments | 71,959 |  |  | 59,015 |
Other assets | 7,962 |  |  | 13,314 |
Total assets | $ | 10,063,895 |  |  | $ | 9,760,109 |
Liabilities and stockholders’ equity: |  |  |
Senior notes | $ | 321,191 |  |  | $ | 458,698 |
Subordinated notes | 510,674 |  |  | 512,802 |
Junior subordinated debt | 77,320 |  |  | 77,320 |
Accrued interest payable | 5,007 |  |  | 12,693 |
Due to subsidiaries | 10,613 |  |  | 477 |
Other liabilities | 5,876 |  |  | 8,123 |
Total liabilities | 930,681 |  |  | 1,070,113 |
Stockholders’ equity | 9,133,214 |  |  | 8,689,996 |
Total liabilities and stockholders’ equity | $ | 10,063,895 |  |  | $ | 9,760,109 |
Schedule of Parent Company Information Condensed Statements of Income |
CONDENSED STATEMENTS OF INCOME |  |  |  |  |
| Years ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
Income: |  |  |  |  |
Dividend income from bank subsidiary | $ | 600,000 |  |  | $ | 600,000 |  |  | $ | 475,000 |
Interest income on securities and interest-bearing deposits | 11,606 |  |  | 11,259 |  |  | 5,955 |
Alternative investments income | 7,580 |  |  | 1,272 |  |  | 6,416 |
Other non-interest income | 198 |  |  | 908 |  |  | 112 |
Total income | 619,384 |  |  | 613,439 |  |  | 487,483 |
Expense: |  |  |  |  |
Interest expense on borrowings | 32,253 |  |  | 37,933 |  |  | 34,284 |
Merger-related expenses | — |  |  | 2,111 |  |  | 40,314 |
Other non-interest expense | 24,988 |  |  | 31,600 |  |  | 22,592 |
Total expense | 57,241 |  |  | 71,644 |  |  | 97,190 |
Income before income taxes and equity in undistributed earnings of subsidiaries | 562,143 |  |  | 541,795 |  |  | 390,293 |
Income tax benefit | 10,021 |  |  | 15,106 |  |  | 20,799 |
Equity in undistributed earnings of subsidiaries | 196,543 |  |  | 310,939 |  |  | 233,191 |
Net income | $ | 768,707 |  |  | $ | 867,840 |  |  | $ | 644,283 |
Schedule of Parent Company Information Condensed Statements of Comprehensive Income |
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME |  |  |  |  |
| Years ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
Net income | $ | 768,707 |  |  | $ | 867,840 |  |  | $ | 644,283 |
Other comprehensive (loss) income, net of tax: |  |  |  |  |
Derivative instruments | 25 |  |  | 229 |  |  | 226 |
Other comprehensive (loss) income of subsidiaries | (5,837) |  |  | 134,160 |  |  | (662,606) |
Other comprehensive (loss) income, net of tax | (5,812) |  |  | 134,389 |  |  | (662,380) |
Comprehensive income (loss) | $ | 762,895 |  |  | $ | 1,002,229 |  |  | $ | (18,097) |
Schedule of Parent Company Information Condensed Statements of Cash Flows |
CONDENSED STATEMENTS OF CASH FLOWS |  |  |  |  |
| Years ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
Operating activities: |  |  |  |  |
Net income | $ | 768,707 |  |  | $ | 867,840 |  |  | $ | 644,283 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed earnings of subsidiaries | (196,543) |  |  | (310,939) |  |  | (233,191) |
Common stock contribution to charitable foundation | — |  |  | — |  |  | 10,500 |
Other, net | (8,711) |  |  | (8,312) |  |  | (2,853) |
Net cash provided by operating activities | 563,453 |  |  | 548,589 |  |  | 418,739 |
Investing activities: |  |  |  |  |
Alternative investments (capital call), net of returns of capital | (17,589) |  |  | (13,070) |  |  | (16,292) |
Proceeds from sales of alternative investments | 9,657 |  |  | — |  |  | — |
Net cash received in business combination | — |  |  | — |  |  | 193,238 |
Net cash (used in) provided by investing activities | (7,932) |  |  | (13,070) |  |  | 176,946 |
Financing activities: |  |  |  |  |
Repayment of long-term debt | (132,550) |  |  | (16,752) |  |  | — |
Dividends paid to common stockholders | (274,545) |  |  | (278,155) |  |  | (247,767) |
Dividends paid to preferred stockholders | (16,650) |  |  | (16,650) |  |  | (13,725) |
Exercise of stock options | 254 |  |  | 1,723 |  |  | 703 |
Common stock repurchase program | (65,403) |  |  | (107,984) |  |  | (322,103) |
Common shares acquired related to stock compensation plan activity | (17,215) |  |  | (16,278) |  |  | (23,655) |
Net cash (used in) financing activities | (506,109) |  |  | (434,096) |  |  | (606,547) |
Net increase (decrease) in cash and cash equivalents | 49,412 |  |  | 101,423 |  |  | (10,862) |
Cash and cash equivalents, beginning of period | 406,754 |  |  | 305,331 |  |  | 316,193 |
Cash and cash equivalents, at end of period | $ | 456,166 |  |  | $ | 406,754 |  |  | $ | 305,331 |

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