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Condensed Financial Information-Parent Only | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information-Parent Only [Abstract] |
Condensed Financial Information-Parent Only | Note S—Condensed Financial Information—Parent Only Condensed Balance Sheets
|  | December 31,
|  | 2024 |  | 2023
|  |  | (Dollars in thousands)
Assets |  |  |  |  |  |
Cash and due from banks |  | $ | 10,650 |  | $ | 8,895
Investment in subsidiaries |  |  | 871,388 |  |  | 893,328
Other assets |  |  | 21,107 |  |  | 16,550
Total assets |  | $ | 903,145 |  | $ | 918,773
Liabilities and stockholders' equity |  |  |  |  |  |
Other liabilities |  | $ | 3,747 |  | $ | 2,232
Senior debt |  |  | 96,214 |  |  | 95,859
Subordinated debentures |  |  | 13,401 |  |  | 13,401
Shareholders' equity |  |  | 789,783 |  |  | 807,281
Total liabilities and stockholders' equity |  | $ | 903,145 |  | $ | 918,773
Condensed Statements of Operations
|  | For the year ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  |  | (Dollars in thousands)
Income |  |  |  |  |  |  |  |  |
Dividend income from subsidiary |  | $ | 259,000 |  | $ | 100,000 |  | $ | 15,000
Other income |  |  | 34 |  |  | 329 |  |  | 10
Total income |  |  | 259,034 |  |  | 100,329 |  |  | 15,010
Expense |  |  |  |  |  |  |  |  |
Interest on subordinated debentures |  |  | 1,155 |  |  | 1,121 |  |  | 657
Interest on senior debt |  |  | 4,935 |  |  | 5,027 |  |  | 5,118
Non-interest expense |  |  | 15,701 |  |  | 12,589 |  |  | 8,520
Total expense |  |  | 21,791 |  |  | 18,737 |  |  | 14,295
Income tax benefit |  |  | (4,568) |  |  | (3,864) |  |  | (2,999)
Equity in undistributed (loss) income of subsidiaries |  |  | (24,271) |  |  | 106,840 |  |  | 126,499
Net income available to common shareholders |  | $ | 217,540 |  | $ | 192,296 |  | $ | 130,213
Condensed Statements of Cash Flows
|  | Year ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  |  | (Dollars in thousands)
Operating activities |  |  |  |  |  |  |  |  |
Net income |  | $ | 217,540 |  | $ | 192,296 |  | $ | 130,213
Net amortization of investment securities discounts/premiums |  |  | 355 |  |  | 82 |  |  | 368
Increase in other assets |  |  | (4,557) |  |  | (3,534) |  |  | (1,692)
Increase (decrease) in other liabilities |  |  | 1,515 |  |  | (45) |  |  | 27
Stock based compensation expense |  |  | 14,983 |  |  | 11,392 |  |  | 7,592
Equity in undistributed loss (income) |  |  | 24,271 |  |  | (106,840) |  |  | (126,499)
Net cash used in operating activities |  |  | 254,107 |  |  | 93,351 |  |  | 10,009
Financing activities |  |  |  |  |  |  |  |  |
Proceeds from the exercise of common stock options |  |  | — |  |  | 104 |  |  | 320
Redemptions of senior debt offering |  |  | — |  |  | (3,273) |  |  | —
Repurchases of common stock |  |  | (252,352) |  |  | (99,999) |  |  | (60,000)
Net cash used in financing activities |  |  | (252,352) |  |  | (103,168) |  |  | (59,680)
Net decrease in cash and cash equivalents |  |  | 1,755 |  |  | (9,817) |  |  | (49,671)
Cash and cash equivalents, beginning of year |  |  | 8,895 |  |  | 18,712 |  |  | 68,383
Cash and cash equivalents, end of year |  | $ | 10,650 |  | $ | 8,895 |  | $ | 18,712

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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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