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Condensed Financial Information - Parent Company Only (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information Parent Only | CONDENSED BALANCE SHEETS
| December 31,
| 2020 |  | 2019
| (in thousands)
ASSETS |  |  |
Cash and cash equivalents | $ | 10,063 |  |  | $ | 10,841 |
Other assets | 28,940 |  |  | 1,087 |
Receivable from subsidiaries | 53,438 |  |  | 78,025 |
Investments in: |  |  |
Bank subsidiary | 3,045,529 |  |  | 2,555,448 |
Non-bank subsidiaries | 313,003 |  |  | 419,145 |
Total Assets | $ | 3,450,973 |  |  | $ | 3,064,546 |
LIABILITIES AND EQUITY |  |  |
Long-term borrowings | $ | 759,782 |  |  | $ | 387,756 |
Payable to non-bank subsidiaries | — |  |  | 276,768 |
Other liabilities | 74,363 |  |  | 57,846 |
Total Liabilities | 834,145 |  |  | 722,370 |
Shareholders’ equity | 2,616,828 |  |  | 2,342,176 |
Total Liabilities and Shareholders’ Equity | $ | 3,450,973 |  |  | $ | 3,064,546 |
CONDENSED STATEMENTS OF INCOME
| 2020 |  | 2019 |  | 2018
| (in thousands)
Income: |  |  |  |  |
Dividends from subsidiaries | $ | 161,000 |  |  | $ | 209,000 |  |  | $ | 150,000 |
Other (1) | 100 |  |  | 191,978 |  |  | 188,165 |
| 161,100 |  |  | 400,978 |  |  | 338,165 |
Expenses | 48,634 |  |  | 218,837 |  |  | 210,333 |
Income before income taxes and equity in undistributed net income of subsidiaries | 112,466 |  |  | 182,141 |  |  | 127,832 |
Income tax benefit | (9,679) |  |  | (5,798) |  |  | (7,100) |
| 122,145 |  |  | 187,939 |  |  | 134,932 |
Equity in undistributed net income (loss) of: |  |  |  |  |
Bank subsidiary | 162,037 |  |  | 44,926 |  |  | 74,631 |
Non-bank subsidiaries | (106,142) |  |  | (6,526) |  |  | (1,170) |
Net Income | 178,040 |  |  | 226,339 |  |  | 208,393 |
Preferred stock dividends | (2,135) |  |  | — |  |  | — |
Net Income Available to Common Shareholders | $ | 175,905 |  |  | $ | 226,339 |  |  | $ | 208,393 |
(1) Consists primarily of management fees received from subsidiary banks in 2019 and 2018. CONDENSED STATEMENTS OF CASH FLOWS
| 2020 |  | 2019 |  | 2018
| (in thousands)
Cash Flows From Operating Activities: |  |  |  |  |
Net Income | $ | 178,040 |  |  | $ | 226,339 |  |  | $ | 208,393 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Amortization of issuance costs and discount of long-term debt | 1,128 |  |  | 842 |  |  | 813 |
Stock-based compensation | 7,529 |  |  | 7,413 |  |  | 7,967 |
(Increase) decrease in other assets | (307,976) |  |  | (20,449) |  |  | 6,327 |
Equity in undistributed net income of subsidiaries | (55,895) |  |  | (38,400) |  |  | (73,460) |
(Decrease) increase in other liabilities and payable to non-bank subsidiaries | (244,598) |  |  | 1,580 |  |  | 36,273 |
Total adjustments | (599,812) |  |  | (49,014) |  |  | (22,080) |
Net cash provided by operating activities | (421,772) |  |  | 177,325 |  |  | 186,313 |
Cash Flows From Investing Activities | — |  |  | — |  |  | — |
Cash Flows From Financing Activities: |  |  |  |  |
Repayments of long-term borrowings | (19,453) |  |  | — |  |  | — |
Additions to long-term borrowings | 370,898 |  |  | — |  |  | — |
Net proceeds from issuance of preferred stock | 192,878 |  |  | — |  |  | — |
Net proceeds from issuance of common stock | 7,375 |  |  | 6,362 |  |  | 6,733 |
Dividends paid | (90,956) |  |  | (92,330) |  |  | (89,654) |
Acquisition of treasury stock | (39,748) |  |  | (111,457) |  |  | (95,308) |
Net cash used in financing activities | 420,994 |  |  | (197,425) |  |  | (178,229) |
Net (Decrease) Increase in Cash and Cash Equivalents | (778) |  |  | (20,100) |  |  | 8,084 |
Cash and Cash Equivalents at Beginning of Year | 10,841 |  |  | 30,941 |  |  | 22,857 |
Cash and Cash Equivalents at End of Year | $ | 10,063 |  |  | $ | 10,841 |  |  | $ | 30,941 |

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