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Condensed Financial Information - Parent Company Only | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Statements - Parent Company Only |
NOTE 19 – CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY
CONDENSED BALANCE SHEETS
| December 31,
| 2018 |  | 2017
| (in thousands)
ASSETS |  |  |
Cash | $ | 30,941 |  |  | $ | 22,857 |
Other assets | 7,072 |  |  | 5,959 |
Receivable from subsidiaries | 51,646 |  |  | 53,880 |
Investments in: |  |  |
Bank subsidiaries | 2,451,651 |  |  | 2,399,053 |
Non-bank subsidiaries | 425,670 |  |  | 426,846 |
Total Assets | $ | 2,966,980 |  |  | $ | 2,908,595 |
LIABILITIES AND EQUITY |  |  |
Long-term debt | $ | 386,913 |  |  | $ | 386,101 |
Payable to non-bank subsidiaries | 247,801 |  |  | 206,766 |
Other liabilities | 84,693 |  |  | 85,871 |
Total Liabilities | 719,407 |  |  | 678,738 |
Shareholders’ equity | 2,247,573 |  |  | 2,229,857 |
Total Liabilities and Shareholders’ Equity | $ | 2,966,980 |  |  | $ | 2,908,595 |
CONDENSED STATEMENTS OF INCOME
| 2018 |  | 2017 |  | 2016
| (in thousands)
Income: |  |  |  |  |
Dividends from subsidiaries | $ | 150,000 |  |  | $ | 66,500 |  |  | $ | 115,000 |
Other (1) | 188,165 |  |  | 171,490 |  |  | 148,577 |
| 338,165 |  |  | 237,990 |  |  | 263,577 |
Expenses | 210,333 |  |  | 199,981 |  |  | 177,835 |
Income before income taxes and equity in undistributed net income of subsidiaries | 127,832 |  |  | 38,009 |  |  | 85,742 |
Income tax benefit | (7,100 | ) |  | (5,448 | ) |  | (10,543 | )
| 134,932 |  |  | 43,457 |  |  | 96,285 |
Equity in undistributed net income (loss) of: |  |  |  |  |
Bank subsidiaries | 74,631 |  |  | 111,226 |  |  | 58,477 |
Non-bank subsidiaries | (1,170 | ) |  | 17,070 |  |  | 6,863 |
Net Income | $ | 208,393 |  |  | $ | 171,753 |  |  | $ | 161,625 |
(1) Consists primarily of management fees received from subsidiary banks. CONDENSED STATEMENTS OF CASH FLOWS
| 2018 |  | 2017 |  | 2016
| (in thousands)
Cash Flows From Operating Activities: |  |  |  |  |
Net Income | $ | 208,393 |  |  | $ | 171,753 |  |  | $ | 161,625 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Amortization of issuance costs and discount of long-term debt | 813 |  |  | 845 |  |  | — |
Stock-based compensation | 7,967 |  |  | 4,740 |  |  | 6,556 |
Excess tax benefits from stock-based compensation | — |  |  | — |  |  | (964 | )
Decrease (increase) in other assets | 6,327 |  |  | (17,882 | ) |  | (16,585 | )
Equity in undistributed net income of subsidiaries | (73,460 | ) |  | (128,298 | ) |  | (65,340 | )
Increase (decrease) in other liabilities and payable to non-bank subsidiaries | 36,273 |  |  | 31,241 |  |  | (5,928 | )
Total adjustments | (22,080 | ) |  | (109,354 | ) |  | (82,261 | )
Net cash provided by operating activities | 186,313 |  |  | 62,399 |  |  | 79,364 |
Cash Flows From Investing Activities | — |  |  | — |  |  | — |
Cash Flows From Financing Activities: |  |  |  |  |
Repayments of long-term debt | — |  |  | (100,000 | ) |  | — |
Additions to long-term debt | — |  |  | 123,251 |  |  | — |
Net proceeds from issuance of common stock | 6,733 |  |  | 9,007 |  |  | 16,167 |
Excess tax benefits from stock-based compensation | — |  |  | — |  |  | 964 |
Dividends paid | (89,654 | ) |  | (80,368 | ) |  | (69,382 | )
Acquisition of treasury stock | (95,308 | ) |  | — |  |  | (18,545 | )
Net cash used in financing activities | (178,229 | ) |  | (48,110 | ) |  | (70,796 | )
Net Increase in Cash and Cash Equivalents | 8,084 |  |  | 14,289 |  |  | 8,568 |
Cash and Due From Banks at Beginning of Year | 22,857 |  |  | 8,568 |  |  | — |
Cash and Due From Banks at End of Year | $ | 30,941 |  |  | $ | 22,857 |  |  | $ | 8,568 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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