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Condensed Financial Statements of Parent Company (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Statements of Parent Company |
Schedule of condensed balance sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, |
(Dollars in thousands) | ​ | 2020 | ​ | 2019 |
ASSETS |  | ​ |  |  | ​ |  | ​
Cash | ​ | $ | 131,522 | ​ | $ | 21,688 | ​
Investment in subsidiaries | ​ |  | 4,802,993 | ​ |  | 2,467,466 | ​
Other assets | ​ |  | 108,086 | ​ |  | 204 | ​
Total assets | ​ | $ | 5,042,601 | ​ | $ | 2,482,982 | ​
LIABILITIES AND SHAREHOLDERS’ EQUITY | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate and subordinated debentures | ​ | $ | 390,179 | ​ | $ | 115,833 | ​
Other liabilities | ​ | ​ | 4,542 | ​ | ​ | 512 | ​
Shareholders’ equity | ​ |  | 4,647,880 | ​ |  | 2,373,013 | ​
Total liabilities and shareholders’ equity | ​ | $ | 5,042,601 | ​ | $ | 2,482,982 | ​
Schedule of condensed statements of income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
(Dollars in thousands) | ​ | 2020 | ​ | 2019 | ​ | 2018 |
Income: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Dividends from subsidiary | ​ | $ | 90,404 | ​ | $ | 214,852 | ​ | $ | 117,298 | ​
Operating income | ​ |  | 52 | ​ |  | 5,386 | ​ |  | 67 | ​
Total income | ​ |  | 90,456 | ​ |  | 220,238 | ​ |  | 117,365 | ​
Operating expenses | ​ |  | 45,574 | ​ |  | 15,409 | ​ |  | 15,302 | ​
Income before income tax benefit and equity in undistributed earnings of subsidiaries | ​ |  | 44,882 | ​ |  | 204,829 | ​ |  | 102,063 | ​
Applicable income tax benefit | ​ |  | 8,960 | ​ |  | 1,883 | ​ |  | 3,055 | ​
Equity in undistributed earnings of subsidiary (excess distribution) | ​ |  | 66,790 | ​ |  | (20,229) | ​ |  | 73,753 | ​
Net income available to common shareholders | ​ | $ | 120,632 | ​ | $ | 186,483 | ​ | $ | 178,871 | ​
Schedule of condensed statements of cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
(Dollars in thousands) | ​ | 2020 | ​ | 2019 | ​ | 2018 |
Cash flows from operating activities: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Net income | ​ | $ | 120,632 | ​ | $ | 186,483 | ​ | $ | 178,871 | ​
Adjustments to reconcile net income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ |  | 1,528 | ​ |  | 666 | ​ |  | 666 | ​
Share-based compensation | ​ |  | 23,316 | ​ |  | 8,839 | ​ |  | 8,783 | ​
Gain on sale of securities available-for-sale | ​ |  | — | ​ |  | (5,366) | ​ |  | — | ​
Decrease (increase) in other assets | ​ |  | (11,710) | ​ |  | (159) | ​ |  | 1,465 | ​
Decrease in other liabilities | ​ |  | (12,323) | ​ |  | (959) | ​ |  | (2,048) | ​
Undistributed earnings of subsidiary | ​ |  | (66,790) | ​ |  | 20,229 | ​ |  | (73,753) | ​
Net cash provided by operating activities | ​ |  | 54,653 | ​ |  | 209,733 | ​ |  | 113,984 | ​
Cash flows from investing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from sales and calls of other investment securities | ​ | ​ | — | ​ | ​ | 5,366 | ​ | ​ | — | ​
Repayment of investments in and advances to subsidiary | ​ | ​ | 163,000 | ​ | ​ | — | ​ | ​ | — | ​
Net cash inflow from acquisitions | ​ |  | 19,650 | ​ |  | — | ​ |  | — | ​
Net cash provided by investing activities | ​ |  | 182,650 | ​ |  | 5,366 | ​ |  | — | ​
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Common stock issuance | ​ |  | 1,537 | ​ |  | 1,394 | ​ |  | 1,331 | ​
Common stock repurchased | ​ |  | (32,431) | ​ |  | (159,431) | ​ |  | (70,577) | ​
Dividends paid on common stock | ​ |  | (98,256) | ​ |  | (57,696) | ​ |  | (50,557) | ​
Stock options exercised | ​ |  | 1,681 | ​ |  | 1,230 | ​ |  | 1,032 | ​
Net cash used in financing activities | ​ |  | (127,469) | ​ |  | (214,503) | ​ |  | (118,771) | ​
Net increase (decrease) in cash and cash equivalents | ​ |  | 109,834 | ​ |  | 596 | ​ |  | (4,787) | ​
Cash and cash equivalents at beginning of period | ​ |  | 21,688 | ​ |  | 21,092 | ​ |  | 25,879 | ​
Cash and cash equivalents at end of period | ​ | $ | 131,522 | ​ | $ | 21,688 | ​ | $ | 21,092 | ​

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