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Condensed Financial Statements of Parent Company (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Statements of Parent Company |
Schedule of condensed balance sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, |
(Dollars in thousands) | ​ | 2023 | ​ | 2022 |
ASSETS |  | ​ |  |  | ​ |  | ​
Cash | ​ | $ | 110,001 | ​ | $ | 89,069 | ​
Investment in subsidiaries | ​ |  | 5,808,108 | ​ |  | 5,368,525 | ​
Other assets | ​ |  | 10,016 | ​ |  | 12,555 | ​
Total assets | ​ | $ | 5,928,125 | ​ | $ | 5,470,149 | ​
LIABILITIES AND SHAREHOLDERS’ EQUITY | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate and subordinated debentures | ​ | $ | 391,904 | ​ | $ | 392,275 | ​
Other Liabilities | ​ | ​ | 3,123 | ​ | ​ | 2,947 | ​
Shareholders’ equity | ​ |  | 5,533,098 | ​ |  | 5,074,927 | ​
Total liabilities and shareholders’ equity | ​ | $ | 5,928,125 | ​ | $ | 5,470,149 | ​
Schedule of condensed statements of income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
(Dollars in thousands) | ​ | 2023 | ​ | 2022 | ​ | 2021 |
Income: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Dividends from subsidiaries | ​ | $ | 180,251 | ​ | $ | 220,124 | ​ | $ | 200,083 | ​
Operating (loss) income | ​ |  | 1 | ​ |  | (68) | ​ |  | 25 | ​
Total income | ​ |  | 180,252 | ​ |  | 220,056 | ​ |  | 200,108 | ​
Operating expenses | ​ |  | 39,151 | ​ |  | 30,514 | ​ |  | 40,727 | ​
Income before income tax benefit and equity in undistributed earnings of subsidiaries | ​ |  | 141,101 | ​ |  | 189,542 | ​ |  | 159,381 | ​
Applicable income tax benefit | ​ |  | 8,177 | ​ |  | 6,649 | ​ |  | 9,053 | ​
Equity in undistributed earnings of subsidiaries | ​ |  | 345,030 | ​ |  | 299,858 | ​ |  | 307,109 | ​
Net income available to common shareholders | ​ | $ | 494,308 | ​ | $ | 496,049 | ​ | $ | 475,543 | ​
Schedule of condensed statements of cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
(Dollars in thousands) | ​ | 2023 | ​ | 2022 | ​ | 2021 |
Cash flows from operating activities: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Net income | ​ | $ | 494,308 | ​ | $ | 496,049 | ​ | $ | 475,543 | ​
Adjustments to reconcile net income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ |  | (371) | ​ |  | (208) | ​ |  | 1,382 | ​
Share-based compensation | ​ |  | 35,861 | ​ |  | 35,638 | ​ |  | 25,721 | ​
Extinguishment of debt cost | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 11,706 | ​
Decrease (increase) in other assets | ​ |  | 2,539 | ​ |  | (375) | ​ |  | 5,690 | ​
(Decrease) increase in other liabilities | ​ |  | 175 | ​ |  | (243) | ​ |  | (3,648) | ​
Undistributed earnings of subsidiaries | ​ |  | (345,030) | ​ |  | (299,858) | ​ |  | (307,109) | ​
Net cash provided by operating activities | ​ |  | 187,482 | ​ |  | 231,003 | ​ |  | 209,285 | ​
Cash flows from investing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Repayment of investments in and advances to subsidiaries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 93,591 | ​
Net cash inflow from acquisitions | ​ |  | — | ​ |  | 51,566 | ​ |  | — | ​
Net cash provided by investing activities | ​ |  | — | ​ |  | 51,566 | ​ |  | 93,591 | ​
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds of other borrowings | ​ | ​ | 100 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Repayment of other borrowings | ​ |  | (100) | ​ |  | (13,000) | ​ |  | (75,878) | ​
Common stock issuance | ​ |  | 2,772 | ​ |  | 2,858 | ​ |  | 2,384 | ​
Common stock repurchased | ​ |  | (16,064) | ​ |  | (119,330) | ​ |  | (147,421) | ​
Dividends paid on common stock | ​ |  | (156,184) | ​ |  | (146,664) | ​ |  | (135,337) | ​
Stock options exercised | ​ |  | 2,926 | ​ |  | 1,585 | ​ |  | 2,905 | ​
Net cash used in financing activities | ​ |  | (166,550) | ​ |  | (274,551) | ​ |  | (353,347) | ​
Net (decrease) increase in cash and cash equivalents | ​ |  | 20,932 | ​ |  | 8,018 | ​ |  | (50,471) | ​
Cash and cash equivalents at beginning of period | ​ |  | 89,069 | ​ |  | 81,051 | ​ |  | 131,522 | ​
Cash and cash equivalents at end of period | ​ | $ | 110,001 | ​ | $ | 89,069 | ​ | $ | 81,051 | ​
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