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Condensed Financial Information (Parent Company Only) | 12 Months Ended
--- | ---
Dec. 31, 2024
Offsetting [Abstract] |
Condensed Financial Information (Parent Company Only) | Condensed Financial Information (Parent Company Only) Condensed Balance Sheets
|  | December 31,
(In thousands) |  | 2024 |  | 2023
Assets |  |  |  |
Cash and cash equivalents |  | $ | 550,340 |  |  | $ | 484,542 |
Investment securities |  | 58,199 |  |  | 57,032 |
Investments in wholly-owned subsidiaries |  | 3,782,780 |  |  | 3,679,597 |
Premises and equipment |  | 221 |  |  | — |
Other assets |  | 16,959 |  |  | 18,049 |
Total assets |  | $ | 4,408,499 |  |  | $ | 4,239,220 |
Liabilities |  |  |  |
Subordinated debentures |  | $ | 439,246 |  |  | $ | 439,834 |
Other liabilities |  | 8,228 |  |  | 8,311 |
Total liabilities |  | 447,474 |  |  | 448,145 |
Stockholders' Equity |  |  |  |
Common stock |  | 1,989 |  |  | 2,015 |
Capital surplus |  | 2,272,794 |  |  | 2,348,023 |
Retained earnings |  | 1,942,350 |  |  | 1,690,112 |
Accumulated other comprehensive loss |  | (256,108) |  |  | (249,075) |
Total stockholders' equity |  | 3,961,025 |  |  | 3,791,075 |
Total liabilities and stockholders' equity |  | $ | 4,408,499 |  |  | $ | 4,239,220 |
Condensed Statements of Income
| Years Ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
Income |  |  |  |  |
Dividends from equity securities | $ | 3,589 |  |  | $ | 3,634 |  |  | $ | 2,088 |
Dividends from banking subsidiary | 311,127 |  |  | 329,997 |  |  | 216,086 |
Other income (loss) | 3,842 |  |  | (724) |  |  | (1,297) |
Total income | 318,558 |  |  | 332,907 |  |  | 216,877 |
Expenses | 32,570 |  |  | 32,361 |  |  | 38,933 |
Income before income taxes and equity in undistributed net income of subsidiaries | 285,988 |  |  | 300,546 |  |  | 177,944 |
Tax benefit for income taxes | 6,036 |  |  | 7,514 |  |  | 10,752 |
Income before equity in undistributed net income of subsidiaries | 292,024 |  |  | 308,060 |  |  | 188,696 |
Equity in undistributed net income of subsidiaries | 110,217 |  |  | 84,869 |  |  | 116,566 |
Net income | $ | 402,241 |  |  | $ | 392,929 |  |  | $ | 305,262 |
Condensed Statements of Cash Flows
|  | Years Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2022
Cash flows from operating activities |  |  |  |  |  |
Net income |  | $ | 402,241 |  |  | $ | 392,929 |  |  | $ | 305,262 |
Items not requiring (providing) cash |  |  |  |  |  |
(Accretion)/ amortization |  | (588) |  |  | (586) |  |  | 1,912 |
Share-based compensation |  | 9,222 |  |  | 9,274 |  |  | 9,133 |
(Increase) decrease in value of equity securities |  | (2,971) |  |  | 1,094 |  |  | 1,272 |
Equity in undistributed income of subsidiaries |  | (110,217) |  |  | (84,869) |  |  | (116,566) |
Changes in other assets |  | (542) |  |  | (364) |  |  | (4,149) |
Changes in other liabilities |  | (82) |  |  | (155) |  |  | 2,290 |
Net cash provided by operating activities |  | 297,063 |  |  | 317,323 |  |  | 199,154 |
Cash flows from investing activities |  |  |  |  |  |
Purchases of premises and equipment, net |  | (221) |  |  | — |  |  | — |
Net cash proceeds from Happy Bancshares, Inc. |  | — |  |  | — |  |  | 201,428 |
Purchases of equity securities |  | — |  |  | — |  |  | (49,975) |
Proceeds from sale of equity securities |  | 3,436 |  |  | 1,522 |  |  | 13,778 |
Redemptions of other investments |  | — |  |  | — |  |  | 2,899 |
Net cash provided by investing activities |  | 3,215 |  |  | 1,522 |  |  | 168,130 |
Cash flows from financing activities |  |  |  |  |  |
Retirement of subordinated debentures |  | — |  |  | — |  |  | (300,000) |
Proceeds from the issuance of subordinated debentures |  | — |  |  | — |  |  | 296,324 |
Redemption of trust preferred securities |  | — |  |  | — |  |  | (96,499) |
Proceeds from exercise of stock options |  | 2,016 |  |  | 802 |  |  | 156 |
Repurchase of common stock |  | (86,493) |  |  | (48,771) |  |  | (70,856) |
Dividends paid |  | (150,003) |  |  | (145,904) |  |  | (128,424) |
Net cash used in financing activities |  | (234,480) |  |  | (193,873) |  |  | (299,299) |
Increase in cash and cash equivalents |  | 65,798 |  |  | 124,972 |  |  | 67,985 |
Cash and cash equivalents, beginning of year |  | 484,542 |  |  | 359,570 |  |  | 291,585 |
Cash and cash equivalents, end of year |  | $ | 550,340 |  |  | $ | 484,542 |  |  | $ | 359,570 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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