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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 436,395       436,395    
Issuances of common stock 5,271     5,271      
Dividends declared:              
Common stock [1] (134,309)       (134,309)    
Preferred stock (1,059)       (1,059)    
Common stock purchases [2] (65,923)         (65,923)  
Stock based compensation 20,649     5,199   15,450  
Other comprehensive income, net of tax 382,537           382,537
Ending balance at Sep. 30, 2024 5,790,514 1,048 22,143 4,853,869 4,495,878 (2,069,430) (1,512,994)
Beginning balance at Jun. 30, 2024 5,372,678 1,048 22,143 4,852,747 4,385,522 (2,010,500) (1,878,282)
Increase Decrease In Stockholders Equity              
Net income 155,323       155,323    
Issuances of common stock 1,704     1,704      
Dividends declared:              
Common stock [3] (44,614)       (44,614)    
Preferred stock (353)       (353)    
Common stock purchases [2] (59,147)         (59,147)  
Stock based compensation (365)     (582)   217  
Other comprehensive income, net of tax 365,288           365,288
Ending balance at Sep. 30, 2024 5,790,514 1,048 22,143 4,853,869 4,495,878 (2,069,430) (1,512,994)
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 599,259       599,259    
Issuances of common stock 5,294 1   5,293      
Dividends declared:              
Common stock [1] (146,611)       (146,611)    
Preferred stock (1,059)       (1,059)    
Common stock purchases [4] (362,752)         (362,752)  
Stock based compensation 23,495     6,781   16,714  
Other comprehensive income, net of tax 384,980           384,980
Ending balance at Sep. 30, 2025 6,115,672 1,049 22,143 4,920,767 5,022,546 (2,574,573) (1,276,260)
Beginning balance at Jun. 30, 2025 5,954,018 1,049 22,143 4,919,950 4,861,958 (2,455,425) (1,395,657)
Increase Decrease In Stockholders Equity              
Net income 211,317       211,317    
Issuances of common stock 1,764     1,764      
Dividends declared:              
Common stock [3] (50,376)       (50,376)    
Preferred stock (353)       (353)    
Common stock purchases [5] (119,697)         (119,697)  
Stock based compensation (398)     (947)   549  
Other comprehensive income, net of tax 119,397           119,397
Ending balance at Sep. 30, 2025 $ 6,115,672 $ 1,049 $ 22,143 $ 4,920,767 $ 5,022,546 $ (2,574,573) $ (1,276,260)
[1]
Dividends declared per common share during the nine months
 
ended September 30, 2025 - $
2.15
 
(2024 - $
1.86
).
[2]
Includes common
 
stock
 
repurchases of
 
$
58.8
 
million
 
as part
 
of the
 
2024 common
 
stock repurchase
 
program. Refer
 
to Note
 
15 for
 
additional
information.
[3]
Dividends declared per common share during the quarter
 
ended September 30, 2025 - $
0.75
 
(2024 - $
0.62
).
[4]
Includes common stock repurchases of $
353.7
 
million as part of the 2024 and 2025 common stock
 
repurchase programs previously announced
by the Corporation. Refer to Note 15 for additional information.
[5]
Includes common stock
 
repurchases of $
119.4
 
million as part
 
of the 2024
 
and 2025 common
 
stock repurchase programs
 
previously announced
by the Corporation. Refer to Note 15 for additional information.