Parent Company Information (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule of Parent Company Information Balance Sheet

CONDENSED BALANCE SHEETS
	December 31,
(In thousands)	2021		2020
Assets:
Cash and due from banks	$	316,193	$	302,315
Intercompany debt securities	150,000		150,000
Investment in subsidiaries	3,526,782		3,340,556
Alternative investments	20,163		8,970
Other assets	3,953		8,122
Total assets	$	4,017,091	$	3,809,963
Liabilities and shareholders’ equity:
Senior notes	$	485,611	$	490,343
Junior subordinated debt	77,320		77,320
Accrued interest payable	5,861		5,862
Due to subsidiaries	488		324
Other liabilities	9,486		1,489
Total liabilities	578,766		575,338
Shareholders’ equity	3,438,325		3,234,625
Total liabilities and shareholders’ equity	$	4,017,091	$	3,809,963

Schedule of Parent Company Information Income Statement

CONDENSED STATEMENTS OF INCOME
	Years ended December 31,
(In thousands)	2021		2020		2019
Income:
Dividend income from bank subsidiary	$	200,000	$	20,000	$	360,000
Interest on securities and deposits	3,444		5,530		10,728
Alternative investments income (loss)	13,033		2,467		(256)
Other non-interest income	75		634		382
Total income	216,552		28,631		370,854
Expense:
Interest expense on borrowings	16,876		18,684		21,062
Non-interest expense	32,187		16,426		15,527
Total expense	49,063		35,110		36,589
Income (loss) before income taxes and equity in undistributed earnings of subsidiaries	167,489		(6,479)		334,265
Income tax benefit	3,121		4,572		4,671
Equity in undistributed earnings of subsidiaries	238,254		222,528		43,787
Net income	$	408,864	$	220,621	$	382,723

Schedule of Parent Company Information Comprehensive Income Statement

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
	Years ended December 31,
(In thousands)	2021		2020		2019
Net income	$	408,864	$	220,621	$	382,723
Other comprehensive (loss) income, net of tax:
Derivative instruments	226		2,622		1,479
Other comprehensive (loss) income of subsidiaries	(65,062)		75,706		93,101
Other comprehensive (loss) income, net of tax	(64,836)		78,328		94,580
Comprehensive income	$	344,028	$	298,949	$	477,303

Schedule of Parent Company Information Cash Flow Statement

CONDENSED STATEMENTS OF CASH FLOWS
	Years ended December 31,
(In thousands)	2021		2020		2019
Operating activities:
Net income	$	408,864	$	220,621	$	382,723
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(238,254)		(222,528)		(43,787)
Other, net	3,562		29,697		23,681
Net cash provided by operating activities	$	174,172	$	27,790	$	362,617
Investing activities:
Alternative investments (capital call), net of distributions	(6,304)		(3,751)		(1,850)
Investment in subsidiaries	—		—		(296,000)
Net cash (used in) investing activities	(6,304)		(3,751)		(297,850)
Financing activities:
Issuance of long-term debt	—		—		296,358
Cash dividends paid to common shareholders	(145,223)		(144,967)		(140,783)
Cash dividends paid to preferred shareholders	(7,875)		(7,875)		(7,875)
Exercise of stock options	3,492		240		619
Common stock repurchased and acquired from stock compensation plan activity	(4,384)		(80,062)		(19,619)
Net cash (used in) provided by financing activities	(153,990)		(232,664)		128,700
Net increase (decrease) in cash and cash equivalents	13,878		(208,625)		193,467
Cash and cash equivalents at beginning of year	302,315		510,940		317,473
Cash and cash equivalents at end of year	$	316,193	$	302,315	$	510,940