Condensed Financial Information-Parent Only (Tables)

12 Months Ended

Dec. 31, 2024


	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


	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



	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