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Parent Company Only Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
CONDENSED BALANCE SHEETS | CONDENSED BALANCE SHEETS
| 2024 |  | 2023
Assets: |  |  |
Cash and cash equivalents | $ | 235,047 |  |  | $ | 197,079 |
Investments in bank subsidiary | 6,517,369 |  |  | 6,126,172 |
Investments in consolidated subsidiaries | 16,779 |  |  | 14,031 |
Investment in unconsolidated subsidiaries: |  |  |
Statutory Trusts | 3,995 |  |  | 3,995 |
Other investments | 71,067 |  |  | 67,848 |
Current income tax receivable | — |  |  | 32,466 |
Other assets | 32,567 |  |  | 144,597 |
| $ | 6,876,824 |  |  | $ | 6,586,188 |
Liabilities and shareholders' equity: |  |  |
Subordinated debt and other borrowings | 425,821 |  |  | 424,938 |
Other liabilities | 19,122 |  |  | 125,462 |
Shareholders' equity | 6,431,881 |  |  | 6,035,788 |
| $ | 6,876,824 |  |  | $ | 6,586,188 |
CONDENSED STATEMENTS OF OPERATIONS | CONDENSED STATEMENTS OF OPERATIONS
| 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |
Dividends received from bank subsidiary | $ | 109,917 |  |  | $ | 106,203 |  |  | $ | 110,834 |
Dividends received from nonbank subsidiaries | 296 |  |  | 750 |  |  | 145 |
Income from equity method investment | — |  |  | — |  |  | 33,817 |
Other income | 10,722 |  |  | 12,360 |  |  | 6,478 |
Expenses: |  |  |  |  |
Interest expense | 26,899 |  |  | 23,263 |  |  | 18,590 |
Personnel expense, including stock compensation | 40,934 |  |  | 41,879 |  |  | 39,552 |
Other expense | 3,831 |  |  | 3,180 |  |  | 3,025 |
Income before income taxes and equity in undistributed income of subsidiaries | 49,271 |  |  | 50,991 |  |  | 90,107 |
Income tax benefit | (17,422) |  |  | (13,547) |  |  | (8,444) |
Income before equity in undistributed income of subsidiaries | 66,693 |  |  | 64,538 |  |  | 98,551 |
Equity in undistributed income of bank subsidiary | 406,609 |  |  | 496,236 |  |  | 461,004 |
Equity in undistributed income of nonbank subsidiaries | 1,754 |  |  | 1,378 |  |  | 1,187 |
Net income | $ | 475,056 |  |  | $ | 562,152 |  |  | $ | 560,742 |
Preferred stock dividends | (15,192) |  |  | (15,192) |  |  | (15,192) |
Net income available to common shareholders | $ | 459,864 |  |  | $ | 546,960 |  |  | $ | 545,550 |
CONDENSED STATEMENTS OF CASH FLOWS | CONDENSED STATEMENTS OF CASH FLOWS
| 2024 |  | 2023 |  | 2022
Operating activities: |  |  |  |  |
Net income | $ | 475,056 |  |  | $ | 562,152 |  |  | $ | 560,742 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |
Amortization and accretion | 883 |  |  | 883 |  |  | 882 |
Stock-based compensation expense | 40,934 |  |  | 41,879 |  |  | 39,552 |
Increase (decrease) in income tax payable, net | (117,879) |  |  | 89,597 |  |  | 28,281 |
Deferred tax expense (benefit) | (2,677) |  |  | 3,014 |  |  | 1,760 |
Income from equity method investments, net | — |  |  | — |  |  | (33,817) |
Dividends received from equity method investment | — |  |  | — |  |  | 10,365 |
Excess tax benefit from stock compensation | (2,806) |  |  | (208) |  |  | (3,027) |
Loss (gain) on other investments, net | 924 |  |  | (2,088) |  |  | (2,563) |
Decrease (increase) in other assets | 147,172 |  |  | (88,227) |  |  | (32,609) |
Increase in other liabilities | 14,345 |  |  | 1,099 |  |  | 3,881 |
Equity in undistributed income of bank subsidiary | (406,609) |  |  | (496,236) |  |  | (461,004) |
Equity in undistributed income of nonbank subsidiaries | (1,754) |  |  | (1,378) |  |  | (1,187) |
Net cash provided by operating activities | 147,589 |  |  | 110,487 |  |  | 111,256 |
Investing activities: |  |  |  |  |
Investment in consolidated nonbanking subsidiaries | (1,000) |  |  | (10,000) |  |  | — |
Repayment of investment in consolidated nonbanking subsidiaries | — |  |  | 9,691 |  |  | — |
Increase in other investments | (4,143) |  |  | (8,802) |  |  | (15,776) |
Net cash used in investing activities | (5,143) |  |  | (9,111) |  |  | (15,776) |
Financing activities: |  |  |  |  |
Issuance of common stock pursuant to performance-based vesting (PSUs) and time-based vesting (RSUs) restricted stock units, net of shares withheld for taxes and related tax benefit | (14,430) |  |  | (3,725) |  |  | (5,462) |
Exercise of common stock options, net of shares surrendered for taxes | (5,842) |  |  | (3,215) |  |  | (4,714) |
Common dividends paid | (69,014) |  |  | (68,737) |  |  | (68,194) |
Preferred stock dividends paid | (15,192) |  |  | (15,192) |  |  | (15,192) |
Net cash used in financing activities | (104,478) |  |  | (90,869) |  |  | (93,562) |
Net increase in cash | 37,968 |  |  | 10,507 |  |  | 1,918 |
Cash and cash equivalents, beginning of year | 197,079 |  |  | 186,572 |  |  | 184,654 |
Cash and cash equivalents, end of year | $ | 235,047 |  |  | $ | 197,079 |  |  | $ | 186,572 |

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