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Condensed Parent Company Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Statements of Financial Condition | Statements of Financial Condition
|  | December 31,
(In thousands) |  | 2022 |  | 2021
Assets |  |  |  |
Cash |  | $ | 266,350 |  |  | $ | 181,157 |
Available-for-sale debt securities and equity securities with readily determinable fair value |  | 14,771 |  |  | 17,089 |
Investment in and receivable from subsidiaries |  | 5,282,530 |  |  | 4,966,720 |
Goodwill |  | 8,371 |  |  | 8,371 |
Other assets |  | 360,309 |  |  | 354,148 |
Total assets |  | $ | 5,932,331 |  |  | $ | 5,527,485 |
Liabilities and Shareholders’ Equity |  |  |  |
Other liabilities |  | $ | 183,475 |  |  | $ | 194,681 |
Subordinated notes |  | 437,392 |  |  | 436,938 |
Other borrowings |  | 261,060 |  |  | 143,612 |
Junior subordinated debentures |  | 253,566 |  |  | 253,566 |
Shareholders’ equity |  | 4,796,838 |  |  | 4,498,688 |
Total liabilities and shareholders’ equity |  | $ | 5,932,331 |  |  | $ | 5,527,485 |
Statements of Income | Statements of Income
|  | Years Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Income |  |  |  |  |  |
Dividends and other revenue from subsidiaries |  | $ | 120,151 |  |  | $ | 211,774 |  |  | $ | 317,839 |
Other (losses) income |  | (12,969) |  |  | 2,763 |  |  | (1,890) |
Total income |  | $ | 107,182 |  |  | $ | 214,537 |  |  | $ | 315,949 |
Expenses |  |  |  |  |  |
Interest expense |  | $ | 36,522 |  |  | $ | 38,293 |  |  | $ | 39,581 |
Salaries and employee benefits |  | 138,466 |  |  | 109,142 |  |  | 75,179 |
Other expenses |  | 155,744 |  |  | 139,816 |  |  | 113,886 |
Total expenses |  | $ | 330,732 |  |  | $ | 287,251 |  |  | $ | 228,646 |
(Loss) income before income taxes and equity in undistributed income of subsidiaries |  | $ | (223,550) |  |  | $ | (72,714) |  |  | $ | 87,303 |
Income tax benefit |  | 70,490 |  |  | 56,529 |  |  | 42,745 |
(Loss) income before equity in undistributed net income of subsidiaries |  | $ | (153,060) |  |  | $ | (16,185) |  |  | $ | 130,048 |
Equity in undistributed net income of subsidiaries |  | 662,742 |  |  | 482,336 |  |  | 162,942 |
Net income |  | $ | 509,682 |  |  | $ | 466,151 |  |  | $ | 292,990 |
Statements of Cash Flows | Statements of Cash Flows
|  | Years Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Operating Activities: |  |  |  |  |  |
Net income |  | $ | 509,682 |  |  | $ | 466,151 |  |  | $ | 292,990 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |
Losses (gains) on available-for-sale debt securities and equity securities with readily determinable fair value, net |  | 7,018 |  |  | (1,794) |  |  | (192) |
Depreciation and amortization |  | 27,642 |  |  | 28,783 |  |  | 22,224 |
Deferred income tax (benefit) expense |  | (2,773) |  |  | (5,350) |  |  | 11,336 |
Stock-based compensation expense |  | 13,632 |  |  | 6,769 |  |  | (2,813) |
(Increase) decrease in other assets |  | (7,116) |  |  | 6,598 |  |  | 4,838 |
(Decrease) increase in other liabilities |  | (6,107) |  |  | 1,225 |  |  | 2,388 |
Equity in undistributed net income of subsidiaries |  | (662,742) |  |  | (482,336) |  |  | (162,942) |
Net Cash (Used for) Provided by Operating Activities |  | $ | (120,764) |  |  | $ | 20,046 |  |  | $ | 167,829 |
Investing Activities: |  |  |  |  |  |
Capital contributions to subsidiaries, net |  | $ | (69,000) |  |  | $ | (27,000) |  |  | $ | (12,000) |
Other investing activity, net |  | (30,872) |  |  | (22,877) |  |  | (40,127) |
Net Cash Used for Investing Activities |  | $ | (99,872) |  |  | $ | (49,877) |  |  | $ | (52,127) |
Financing Activities: |  |  |  |  |  |
Increase (decrease) in subordinated notes, other borrowings and junior subordinated debentures, net |  | $ | 117,381 |  |  | $ | (23,274) |  |  | $ | (2,690) |
Proceeds from the issuance of common stock, net |  | 285,729 |  |  | — |  |  | — |
Proceeds from issuance of Series E Preferred Stock, net |  | — |  |  | — |  |  | 277,613 |
Issuance of common shares resulting from exercise of stock options and employee stock purchase plan |  | 11,233 |  |  | 19,824 |  |  | 15,059 |
Dividends paid |  | (108,210) |  |  | (98,629) |  |  | (85,890) |
Common stock repurchases under authorized program |  | — |  |  | (9,540) |  |  | (92,055) |
Common stock repurchases for tax withholdings related to stock-based compensation |  | (304) |  |  | — |  |  | (1,377) |
Net Cash Provided by (Used for) Financing Activities |  | $ | 305,829 |  |  | $ | (111,619) |  |  | $ | 110,660 |
Net Increase (Decrease) in Cash and Cash Equivalents |  | $ | 85,193 |  |  | $ | (141,450) |  |  | $ | 226,362 |
Cash and Cash Equivalents at Beginning of Year |  | 181,157 |  |  | 322,607 |  |  | 96,245 |
Cash and Cash Equivalents at End of Year |  | $ | 266,350 |  |  | $ | 181,157 |  |  | $ | 322,607 |

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