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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Preferred Stock
Surplus
Retained earnings
Treasury stock
Accumulated other comprehensive (loss) income
Beginning balance at Dec. 31, 2023 $ 5,146,953 $ 1,048 $ 22,143 $ 4,843,399 $ 4,194,851 $ (2,018,957) $ (1,895,531)
Increase Decrease In Stockholders Equity              
Net income 281,072       281,072    
Issuances of common stock 3,567     3,567      
Dividends declared:              
Common stock [1] (89,695)       (89,695)    
Preferred stock (706)       (706)    
Common stock purchases (6,776)         (6,776)  
Stock based compensation 21,014     5,781   15,233  
Other comprehensive income, net of tax 17,249           17,249
Ending balance at Jun. 30, 2024 5,372,678 1,048 22,143 4,852,747 4,385,522 (2,010,500) (1,878,282)
Beginning balance at Mar. 31, 2024 5,177,314 1,048 22,143 4,847,466 4,253,030 (2,013,187) (1,933,186)
Increase Decrease In Stockholders Equity              
Net income 177,789       177,789    
Issuances of common stock 1,768     1,768      
Dividends declared:              
Common stock [2] (44,944)       (44,944)    
Preferred stock (353)       (353)    
Common stock purchases (3,200)         (3,200)  
Stock based compensation 9,400     3,513   5,887  
Other comprehensive income, net of tax 54,904           54,904
Ending balance at Jun. 30, 2024 5,372,678 1,048 22,143 4,852,747 4,385,522 (2,010,500) (1,878,282)
Beginning balance at Dec. 31, 2024 5,613,066 1,048 22,143 4,908,693 4,570,957 (2,228,535) (1,661,240)
Increase Decrease In Stockholders Equity              
Net income 387,942       387,942    
Issuances of common stock 3,530 1   3,529      
Dividends declared:              
Common stock [1] (96,235)       (96,235)    
Preferred stock (706)       (706)    
Common stock purchases [3] (243,055)         (243,055)  
Stock based compensation 23,893     7,728   16,165  
Other comprehensive income, net of tax 265,583           265,583
Ending balance at Jun. 30, 2025 5,954,018 1,049 22,143 4,919,950 4,861,958 (2,455,425) (1,395,657)
Beginning balance at Mar. 31, 2025 5,799,695 1,049 22,143 4,912,886 4,699,697 (2,346,093) (1,489,987)
Increase Decrease In Stockholders Equity              
Net income 210,440       210,440    
Issuances of common stock 1,760     1,760      
Dividends declared:              
Common stock [2] (47,826)       (47,826)    
Preferred stock (353)       (353)    
Common stock purchases [4] (117,075)         (117,075)  
Stock based compensation 13,047     5,304   7,743  
Other comprehensive income, net of tax 94,330           94,330
Ending balance at Jun. 30, 2025 $ 5,954,018 $ 1,049 $ 22,143 $ 4,919,950 $ 4,861,958 $ (2,455,425) $ (1,395,657)
[1]
Dividends declared per common share during the six months
 
ended June 30, 2025 - $
1.40
 
(2024 - $
1.24
).
[2]
Dividends declared per common share during the quarter
 
ended June 30, 2025 - $
0.7
0 (2024 - $
0.62
).
[3]
Includes common stock repurchases of $
234.3
 
million as part of the 2024 Repurchase Program. Refer
 
to Note 17 for additional information.
[4]
Includes common stock repurchases
 
of $
112
.0 million as part of
 
a repurchase authorization up
 
to $
500
 
million announced by the
 
Corporation on
July 24, 2024 (the "2024 Repurchase Program"). Refer to Note
 
17 for additional information.