Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Parent Company Balance Sheet

Balance Sheets

	December 31,
($ in Thousands)	2022		2021
Assets
Cash and due from banks	$	14,899	$	17,241
Interest-bearing deposits in other financial institutions	29,856		20,743
Notes and interest receivable from subsidiaries	172,066		285,516
Investments in and receivable due from subsidiaries	4,036,273		3,953,461
Other assets	48,097		46,644
Total assets	$	4,301,191	$	4,323,605
Liabilities and Stockholders' Equity
Commercial paper	$	20,798	$	34,730
Subordinated notes, at par	250,000		250,000
Long-term funding capitalized costs and fair value hedge liability	(2,399)		(839)
Total long-term funding	247,601		249,161
Accrued expenses and other liabilities	17,301		14,860
Total liabilities	285,701		298,752
Preferred equity	194,112		193,195
Common equity	3,821,378		3,831,658
Total stockholders’ equity	4,015,490		4,024,853
Total liabilities and stockholders’ equity	$	4,301,191	$	4,323,605

Parent Company Income Statement

Statements of Income

	For the Years Ended December 31,
($ in Thousands)	2022		2021		2020
Income
Income from subsidiaries	$	373,581	$	361,198	$	317,895
Interest income on notes receivable from subsidiaries	5,632		3,247		3,257
Other income	1,262		682		933
Total income	380,475		365,127		322,084
Expense
Interest expense on short and long-term funding	10,655		10,942		10,960
Other expense	6,118		7,330		6,422
Total expense	16,772		18,272		17,383
Income before income tax expense	363,702		346,856		304,702
Income tax (benefit)	(2,420)		(4,138)		(2,070)
Net income	366,122		350,994		306,771
Preferred stock dividends	11,500		17,111		18,358
Net income available to common equity	$	354,622	$	333,883	$	288,413

Parent Company Statement of Cash Flows

Statements of Cash Flows

	For the Years Ended December 31,
($ in Thousands)	2022		2021		2020
Cash Flows from Operating Activities
Net income	$	366,122	$	350,994	$	306,771
Adjustments to reconcile net income to net cash provided by operating activities:
(Increase) decrease in equity in undistributed net income (loss) of subsidiaries	(343,582)		28,802		(61,406)
Net change in other assets and accrued expenses and other liabilities	14,159		17,102		(49,890)
Net cash provided by operating activities	36,699		396,898		195,475
Cash Flows from Investing Activities
Net (increase) decrease in notes receivable from subsidiaries	115,000		20,000		(105,000)
Net cash provided by (used in) investing activities	115,000		20,000		(105,000)
Cash Flows from Financing Activities
Net increase (decrease) in commercial paper	(13,932)		(24,616)		27,330
Proceeds from issuance of common stock for stock-based compensation plans	11,061		25,702		3,966
Proceeds from issuance of preferred stock	—		—		96,796
Redemption of preferred stock	—		(164,458)		—
Purchase of treasury stock, open market purchases	—		(132,955)		(71,255)
Purchase of treasury stock, stock-based compensation plans	(6,480)		(4,847)		(6,113)
Cash dividends on common stock	(123,137)		(116,061)		(112,023)
Cash dividends on preferred stock	(11,500)		(17,111)		(18,358)
Other	(938)		—		—
Net cash used in financing activities	(144,928)		(434,346)		(79,656)
Net increase (decrease) in cash and cash equivalents	6,771		(17,448)		10,819
Cash and cash equivalents at beginning of year	37,984		55,432		44,613
Cash and cash equivalents at end of year	$	44,755	$	37,984	$	55,432