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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets - Parent Company Only | Condensed Balance Sheets—Parent Company Only
|  | December 31,
2020 |  | 2019
|  | (in thousands)
Assets |  |  |  |
Cash |  | $ | 2,301 |  |  | $ | 6,088 |
Interest-earning deposits |  | 4,933 |  |  | 21,717 |
Total cash and cash equivalents |  | 7,234 |  |  | 27,805 |
Investment in banking subsidiary |  | 2,363,692 |  |  | 2,156,039 |
Investment in other subsidiaries |  | 6,215 |  |  | 5,671 |
Goodwill |  | 4,729 |  |  | 4,729 |
Other assets |  | 1,668 |  |  | 1,675 |
Total assets |  | $ | 2,383,538 |  |  | $ | 2,195,919 |
Liabilities and Shareholders’ Equity |  |  |  |
Subordinated debentures |  | $ | 35,092 |  |  | $ | 35,277 |
Other liabilities |  | 839 |  |  | 680 |
Total liabilities |  | 35,931 |  |  | 35,957 |
Shareholders’ equity |  | 2,347,607 |  |  | 2,159,962 |
Total liabilities and shareholders’ equity |  | $ | 2,383,538 |  |  | $ | 2,195,919 |
Condensed Statements of Income - Parent Company Only | Condensed Statements of Income—Parent Company Only
|  | Years Ended December 31,
2020 |  | 2019 |  | 2018
(in thousands)
Income |  |  |  |  |  |
Dividend from banking subsidiary |  | $ | 89,000 |  |  | $ | 168,000 |  |  | $ | 85,250 |
Interest-earning deposits |  | 13 |  |  | 100 |  |  | 12 |
Other income |  | 37 |  |  | 68 |  |  | 56 |
Total income |  | 89,050 |  |  | 168,168 |  |  | 85,318 |
Expense |  |  |  |  |  |
Compensation and employee benefits |  | 758 |  |  | 791 |  |  | 978 |
Subordinated debentures interest expense |  | 1,871 |  |  | 1,871 |  |  | 1,871 |
Other borrowings interest expense |  | 12 |  |  | — |  |  | 4 |
Other expense |  | 1,943 |  |  | 2,111 |  |  | 2,058 |
Total expenses |  | 4,584 |  |  | 4,773 |  |  | 4,911 |
Income before income tax benefit and equity in undistributed earnings of subsidiaries |  | 84,466 |  |  | 163,395 |  |  | 80,407 |
Income tax benefit |  | (952) |  |  | (967) |  |  | (1,017) |
Income before equity in undistributed earnings of subsidiaries |  | 85,418 |  |  | 164,362 |  |  | 81,424 |
Equity in undistributed earnings of subsidiaries |  | 68,826 |  |  | 30,089 |  |  | 91,458 |
Net income |  | $ | 154,244 |  |  | $ | 194,451 |  |  | $ | 172,882 |
Condensed Statements of Cash Flows - Parent Company Only | Condensed Statements of Cash Flows—Parent Company Only
|  | Years Ended December 31,
2020 |  | 2019 |  | 2018
(in thousands)
Operating Activities |  |  |  |  |  |
Net income |  | $ | 154,244 |  |  | $ | 194,451 |  |  | $ | 172,882 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity in undistributed earnings of subsidiaries |  | (68,826) |  |  | (30,089) |  |  | (91,458) |
Stock-based compensation expense |  | 10,737 |  |  | 9,271 |  |  | 8,354 |
Net changes in other assets and liabilities |  | (17) |  |  | (133) |  |  | 1,622 |
Net cash provided by operating activities |  | 96,138 |  |  | 173,500 |  |  | 91,400 |
Financing Activities |  |  |  |  |  |
Common stock dividends |  | (96,215) |  |  | (102,265) |  |  | (83,459) |
Repayment of junior subordinated debentures |  | — |  |  | — |  |  | (8,248) |
Purchase and retirement of common stock |  | (2,522) |  |  | (2,792) |  |  | (2,677) |
Purchase of treasury shares |  | (20,000) |  |  | (50,834) |  |  | — |
Proceeds from exercise of stock options |  | 2,028 |  |  | 2,025 |  |  | 1,857 |
Net cash used in financing activities |  | (116,709) |  |  | (153,866) |  |  | (92,527) |
Increase (decrease) in cash and cash equivalents |  | (20,571) |  |  | 19,634 |  |  | (1,127) |
Cash and cash equivalents at beginning of year |  | 27,805 |  |  | 8,171 |  |  | 9,298 |
Cash and cash equivalents at end of year |  | $ | 7,234 |  |  | $ | 27,805 |  |  | $ | 8,171 |

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