PARENT COMPANY FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule of Consolidated Balance Sheet of Parent Company Only

Balance Sheets (in millions) December 31	2024		2023
Assets
Cash and cash equivalents	$	803	$	375
Other assets	185		98
Investment in bank subsidiary	6,272		6,014
Investments in and advances to non-bank subsidiaries	581		572
Total Assets	$	7,841	$	7,059
Liabilities
Other liabilities	$	142	$	110
Advances from affiliates	197		197
Long-term borrowings	1,193		695
Subordinated notes:
Short-term	6		6
Long-term	1		1
Total Liabilities	1,539		1,009
Shareholders’ Equity	6,302		6,050
Total Liabilities and Shareholders’ Equity	$	7,841	$	7,059

Schedule of Statements of Income of Parent Company Only

Statements of Income (in millions) Year Ended December 31	2024		2023		2022
Income
Dividend income from subsidiaries:
Bank	$	307	$	382	$	254
Non-bank	2		3		6
	309		385		260
Interest income	23		16		16
Other income	1		1		—
Total Income	333		402		276
Expenses
Interest expense	53		47		34
Other expenses	29		21		17
Total Expenses	82		68		51
Income Before Taxes and Equity in Undistributed Income of Subsidiaries	251		334		225
Income tax benefit	14		15		9
	265		349		234
Equity in undistributed income of subsidiaries:
Bank	194		130		200
Non-bank	6		6		5
Net Income	$	465	$	485	$	439

Schedule of Statements of Cash Flows of Parent Company Only

Statements of Cash Flows (in millions) Year Ended December 31	2024		2023		2022
Operating Activities
Net income	$	465	$	485	$	439
Adjustments to reconcile net income to net cash flows from operating activities:
Undistributed earnings from subsidiaries	(200)		(136)		(203)
Other, net	(6)		(4)		—
Net cash flows provided by (used in) operating activities	259		345		236
Investing Activities
Net increase in advances to subsidiaries	—		(75)		(18)
Payment for further investment in subsidiaries	(3)		(9)		3
Increase in premises and equipment	(47)		(8)		—
Net cash received in business combinations	—		—		9
Net cash flows provided by (used in) investing activities	(50)		(92)		(6)
Financing Activities
Decrease in long-term debt	—		(331)		(3)
Increase in long-term debt	499		2		351
Redemption of preferred stock	(111)		—		—
Other, net	8		(29)		(32)
Cash dividends paid:
Preferred stock	(2)		(8)		(8)
Common stock	(175)		(174)		(171)
Net cash flows provided by (used in) financing activities	219		(540)		137
Net Increase (Decrease) in Cash and Cash Equivalents	428		(287)		367
Cash and cash equivalents at beginning of year	375		662		295
Cash and Cash Equivalents at End of Year	$	803	$	375	$	662
Cash paid during the year for:
Interest	$	54	$	48	$	34