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Parent Company Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets |
Parent Company
Condensed Balance Sheets
(Dollars in thousands) | December 31, 2019 |  | December 31, 2018
Assets |  |  |
Cash and due from banks | $ | 4,573 |  |  | $ | 7,188 |
Overnight investments | 2,547 |  |  | 385 |
Investments in marketable equity securities | 82,333 |  |  | 92,599 |
Investment securities available for sale | 3,015 |  |  | 6,456 |
Investment in banking subsidiaries | 3,763,947 |  |  | 3,314,292 |
Investment in other subsidiaries | 3,555 |  |  | 41,830 |
Due from subsidiaries | — |  |  | 814 |
Note to banking subsidiaries | — |  |  | 100,000 |
Other assets | 45,164 |  |  | 42,810 |
Total assets | $ | 3,905,134 |  |  | $ | 3,606,374 |
Liabilities and Shareholders’ Equity |  |  |
Subordinated debentures | $ | 105,677 |  |  | $ | 105,546 |
Other borrowings | 201,702 |  |  | — |
Due to subsidiaries | 1,670 |  |  | 299 |
Other liabilities | 9,901 |  |  | 11,575 |
Shareholders’ equity | 3,586,184 |  |  | 3,488,954 |
Total liabilities and shareholders’ equity | $ | 3,905,134 |  |  | $ | 3,606,374 |
Condensed Income Statements |
Parent Company
Condensed Income Statements
| Year ended December 31
(Dollars in thousands) | 2019 |  | 2018 |  | 2017
Interest and dividend income | $ | 1,327 |  |  | $ | 1,362 |  |  | $ | 921 |
Interest expense | 7,187 |  |  | 5,154 |  |  | 4,814 |
Net interest loss | (5,860 | ) |  | (3,792 | ) |  | (3,893 | )
Dividends from banking subsidiaries | 149,819 |  |  | 242,910 |  |  | 50,424 |
Marketable equity securities gains (losses), net | 20,625 |  |  | (7,610 | ) |  | — |
Other income | 257 |  |  | 347 |  |  | 8,437 |
Other operating expense | 9,497 |  |  | 11,127 |  |  | 6,881 |
Income before income tax benefit and equity in undistributed net income of subsidiaries | 155,344 |  |  | 220,728 |  |  | 48,087 |
Income tax expense (benefit) | 892 |  |  | (5,184 | ) |  | (5,395 | )
Income before equity in undistributed net income of subsidiaries | 154,452 |  |  | 225,912 |  |  | 53,482 |
Equity in undistributed net income of subsidiaries | 302,919 |  |  | 174,401 |  |  | 270,270 |
Net income | $ | 457,371 |  |  | $ | 400,313 |  |  | $ | 323,752 |
Condensed Statements of Cash Flows |
Parent Company
Condensed Statements of Cash Flows
| Year ended December 31
(Dollars in thousands) | 2019 |  | 2018 |  | 2017
OPERATING ACTIVITIES |  |  |  |  |
Net income | $ | 457,371 |  |  | $ | 400,313 |  |  | $ | 323,752 |
Adjustments |  |  |  |  |
Undistributed net income of subsidiaries | (302,919 | ) |  | (174,401 | ) |  | (270,270 | )
Net amortization of premiums and discounts | 119 |  |  | 88 |  |  | 759 |
Marketable equity securities (gains) losses, net | (20,625 | ) |  | 7,610 |  |  | — |
Gain on extinguishment of debt | — |  |  | (160 | ) |  | (919 | )
Realized gains (losses) on investment securities available for sale, net | (20 | ) |  | — |  |  | (8,003 | )
Net change in due to/from subsidiaries | (2,185 | ) |  | (381 | ) |  | (1,626 | )
Change in other assets | (2,001 | ) |  | 3,657 |  |  | (10,509 | )
Change in other liabilities | 981 |  |  | (2,595 | ) |  | 6,310 |
Net cash provided by operating activities | 130,721 |  |  | 234,131 |  |  | 39,494 |
INVESTING ACTIVITIES |  |  |  |  |
Net change in loans | 100,000 |  |  | (100,000 | ) |  | — |
Net change in overnight investments | 2,162 |  |  | 14,091 |  |  | 11,681 |
Purchases of marketable equity securities | (26,166 | ) |  | (2,818 | ) |  | — |
Proceeds from sales of marketable equity securities | 56,749 |  |  | 9,528 |  |  | — |
Purchases of investment securities | — |  |  | (6,438 | ) |  | (28,012 | )
Proceeds from sales, calls, and maturities of securities | 3,477 |  |  | 9,997 |  |  | 32,463 |
Net cash provided by (used in) investing activities | 136,222 |  |  | (75,640 | ) |  | 16,132 |
FINANCING ACTIVITIES |  |  |  |  |
Net change in short-term borrowings | 40,277 |  |  | (15,000 | ) |  | — |
Repayment of long-term obligations | (3,575 | ) |  | (1,840 | ) |  | (4,081 | )
Origination of long-term obligations | 165,000 |  |  | — |  |  | — |
Repurchase of common stock | (453,123 | ) |  | (163,095 | ) |  | — |
Cash dividends paid | (18,137 | ) |  | (16,779 | ) |  | (14,412 | )
Net cash used in financing activities | (269,558 | ) |  | (196,714 | ) |  | (18,493 | )
Net change in cash | (2,615 | ) |  | (38,223 | ) |  | 37,133 |
Cash balance at beginning of year | 7,188 |  |  | 45,411 |  |  | 8,278 |
Cash balance at end of year | $ | 4,573 |  |  | $ | 7,188 |  |  | $ | 45,411 |
CASH PAYMENTS FOR: |  |  |  |  |
Interest | $ | 7,187 |  |  | $ | 5,154 |  |  | $ | 4,814 |
Income taxes | 78,345 |  |  | 73,806 |  |  | 88,565 |

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