Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financials

NOTE 16  PARENT COMPANY ONLY FINANCIAL INFORMATION:

Presented below are condensed financial statements for the Parent Company.

	BALANCE SHEETS
		2014		2013
		($ in Thousands)
ASSETS
Cash and due from banks		$	523,103	$	148,327
Investment securities available for sale, at fair value			76,159		163,679
Notes receivable from subsidiaries			-		46,594
Investment in subsidiaries			3,166,080		3,161,153
Other assets			94,332		81,529
	Total assets	$	3,859,674	$	3,601,282
LIABILITIES AND STOCKHOLDERS’ EQUITY
Commercial paper		$	74,297	$	65,484
Senior notes, at par			680,000		585,000
Subordinated debt, at par			250,000		-
Long-term funding capitalized costs			(143)		1,941
	Total long-term funding		929,857		586,941
Accrued expenses and other liabilities			55,269		57,567
	Total liabilities		1,059,423		709,992
Preferred equity			59,727		61,862
Common equity			2,740,524		2,829,428
	Total stockholders’ equity		2,800,251		2,891,290
	Total liabilities and stockholders’ equity	$	3,859,674	$	3,601,282

STATEMENTS OF INCOME
	For the Years Ended December 31,
	2014		2013		2012
	($ in Thousands)
INCOME
Dividends from subsidiaries	$	223,000	$	262,000	$	169,500
Interest income on notes receivable		1,264		1,988		1,807
Other income		9,682		7,742		5,762
Total income		233,946		271,730		177,069
EXPENSE
Interest expense on short and long-term funding		24,847		27,167		35,920
Other expense		745		8,029		14,055
Total expense		25,592		35,196		49,975
Income before income tax benefit and equity in
undistributed net income (loss) of subsidiaries		208,354		236,534		127,094
Income tax benefit		(5,801)		(7,086)		(17,948)
Income before equity in undistributed net income (loss) of subsidiaries		214,155		243,620		145,042
Equity in undistributed net income (loss) of subsidiaries		(23,646)		(54,928)		33,931
Net income		190,509		188,692		178,973
Preferred stock dividends		5,002		5,158		5,200
Net income available to common equity	$	185,507	$	183,534	$	173,773

STATEMENTS OF CASH FLOWS
		For the Years Ended December 31,
		2014		2013			2012
		($ in Thousands)
OPERATING ACTIVITIES
Net income		$	190,509		$	188,692		$	178,973
Adjustments to reconcile net income to net cash provided by operating
	activities:
	(Increase) decrease in equity in undistributed net income (loss) of subsidiaries		23,646			54,928			(33,931)
	Gain on sales of investment securities, net		(214)			(456)			(530)
	(Gain) loss on sales of assets and impairment write-downs, net		(5,609)			(1,007)			1,365
	Net change in other assets and other liabilities		(794)			(94,649)			143,032
Net cash provided by operating activities			207,538			147,508			288,909
INVESTING ACTIVITIES
Proceeds from sales of investment securities			88,844			55,445			49,819
Purchase of investment securities			-			(23,101)			(186,432)
Net (increase) decrease in notes receivable			46,594			3,049			(225)
Purchase of other assets, net of disposals			10,930			2,407			(7,336)
Net cash provided by (used in) investing activities			146,368			37,800			(144,174)
FINANCING ACTIVITIES
Net increase in short-term funding			8,813			14,239			51,245
Proceeds from issuance of long-term funding			496,030			-			154,738
Repayment of long-term funding			(155,000)			(25,821)			(211,340)
Purchase of preferred stock			(2,451)			(1,626)			-
Cash dividends			(63,712)			(60,149)			(44,834)
Purchase of common stock returned to authorized but unissued			(150,498)			-			-
Purchase of treasury stock			(112,312)			(123,349)			(61,654)
Net cash provided by (used in) financing activities			20,870			(196,706)			(111,845)
Net increase (decrease) in cash and cash equivalents			374,776			(11,398)			32,890
Cash and cash equivalents at beginning of year			148,327			159,725			126,835
Cash and cash equivalents at end of year		$	523,103		$	148,327		$	159,725