XML 41 R26.htm IDEA: XBRL DOCUMENT
v3.8.0.1

PARENT COMPANY STATEMENTS | 12 Months Ended
--- | ---
Dec. 31, 2017
PARENT COMPANY STATEMENTS [Abstract] |
PARENT COMPANY STATEMENTS |
NOTE Q: | PARENT COMPANY STATEMENTS
The condensed statements of condition of the parent company at December 31 are as follows:
(000's omitted) |  | 2017 |  |  | 2016 |
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 84,460 |  |  | $ | 151,127 |
Investment securities |  |  | 4,322 |  |  |  | 3,628 |
Investment in and advances to: |  |  |  |  |  |  |  |
Bank subsidiary |  |  | 1,511,780 |  |  |  | 1,116,554 |
Non-bank subsidiaries |  |  | 169,341 |  |  |  | 35,566 |
Other assets |  |  | 9,150 |  |  |  | 10,345 |
Total assets |  | $ | 1,779,053 |  |  | $ | 1,317,220 |
Liabilities and shareholders' equity: |  |  |  |  |  |  |  |
Accrued interest and other liabilities |  | $ | 20,924 |  |  | $ | 16,950 |
Borrowings |  |  | 122,814 |  |  |  | 102,170 |
Shareholders' equity |  |  | 1,635,315 |  |  |  | 1,198,100 |
Total liabilities and shareholders' equity |  | $ | 1,779,053 |  |  | $ | 1,317,220 |
The condensed statements of income of the parent company for the years ended December 31 is as follows:
(000's omitted) |  | 2017 |  |  | 2016 |  |  | 2015 |
Revenues: |  |  |  |  |  |  |  |  |
Dividends from subsidiaries: |  |  |  |  |  |  |  |  |
Bank subsidiary |  | $ | 91,000 |  |  | $ | 89,000 |  |  | $ | 70,000 |
Non-bank subsidiaries |  |  | 35,500 |  |  |  | 1,750 |  |  |  | 6,000 |
Interest and dividends on investments |  |  | 133 |  |  |  | 102 |  |  |  | 94 |
Total revenues |  |  | 126,633 |  |  |  | 90,852 |  |  |  | 76,094 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest on borrowings |  |  | 3,904 |  |  |  | 2,949 |  |  |  | 2,537 |
Acquisition expenses |  |  | 91 |  |  |  | 429 |  |  |  | 0 |
Other expenses |  |  | 26 |  |  |  | 11 |  |  |  | 19 |
Total expenses |  |  | 4,021 |  |  |  | 3,389 |  |  |  | 2,556 |
Income before tax benefit and equity in undistributed net income of subsidiaries |  |  | 122,612 |  |  |  | 87,463 |  |  |  | 73,538 |
Income tax benefit/(expense) |  |  | 1,930 |  |  |  | 866 |  |  |  | (572 | )
Income before equity in undistributed net income of subsidiaries |  |  | 124,542 |  |  |  | 88,329 |  |  |  | 72,966 |
Equity in undistributed net income of subsidiaries |  |  | 26,175 |  |  |  | 15,483 |  |  |  | 18,264 |
Net income |  | $ | 150,717 |  |  | $ | 103,812 |  |  | $ | 91,230 |
Other comprehensive (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Changes in other comprehensive income/(loss) related to pension and other post retirement obligations |  |  | 168 |  |  |  | 3,322 |  |  |  | (4,567 | )
Changes in other comprehensive loss related to unrealized losses on available-for-sale securities |  |  | (11,065 | ) |  |  | (14,714 | ) |  |  | (6,918 | )
Other comprehensive loss |  |  | (10,897 | ) |  |  | (11,392 | ) |  |  | (11,485 | )
Comprehensive income |  | $ | 139,820 |  |  | $ | 92,420 |  |  | $ | 79,745 |
The statements of cash flows of the parent company for the years ended December 31 is as follows:
(000's omitted) |  | 2017 |  |  | 2016 |  |  | 2015 |
Operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 150,717 |  |  | $ | 103,812 |  |  | $ | 91,230 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (26,175 | ) |  |  | (15,483 | ) |  |  | (18,264 | )
Net change in other assets and other liabilities |  |  | 1,870 |  |  |  | (215 | ) |  |  | (27 | )
Net cash provided by operating activities |  |  | 126,412 |  |  |  | 88,114 |  |  |  | 72,939 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sale of investment securities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Cash (paid)/received for acquisitions, net of cash acquired of $150,534, $0, and $81,772, respectively |  |  | (139,471 | ) |  |  | 0 |  |  |  | 25,505 |
Capital contributions to subsidiaries |  |  | (11,063 | ) |  |  | 0 |  |  |  | (80,231 | )
Net cash used in investing activities |  |  | (150,534 | ) |  |  | 0 |  |  |  | (54,726 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | 9,700 |  |  |  | 15,326 |  |  |  | 13,975 |
Purchase of treasury stock |  |  | (3,306 | ) |  |  | (3,470 | ) |  |  | (9,126 | )
Sale of treasury stock |  |  | 10,060 |  |  |  | 8,888 |  |  |  | 16,571 |
Increase in deferred compensation arrangements |  |  | 3,306 |  |  |  | 0 |  |  |  | 0 |
Cash dividends paid |  |  | (62,305 | ) |  |  | (55,048 | ) |  |  | (49,273 | )
Net cash used in financing activities |  |  | (42,545 | ) |  |  | (34,304 | ) |  |  | (27,853 | )
Change in cash and cash equivalents |  |  | (66,667 | ) |  |  | 53,810 |  |  |  | (9,640 | )
Cash and cash equivalents at beginning of year |  |  | 151,127 |  |  |  | 97,317 |  |  |  | 106,957 |
Cash and cash equivalents at end of year |  | $ | 84,460 |  |  | $ | 151,127 |  |  | $ | 97,317 |
Supplemental disclosures of cash flow information: |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for interest |  | $ | 3,826 |  |  | $ | 2,909 |  |  | $ | 2,523 |
Supplemental disclosures of noncash financing activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends declared and unpaid |  | $ | 17,460 |  |  | $ | 14,268 |  |  | $ | 13,605 |
Capital contributions to subsidiaries |  |  | 513,769 |  |  |  | 0 |  |  |  | 76,461 |
Common stock issued for acquisition |  |  | 343,132 |  |  |  | 0 |  |  |  | 102,202 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -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 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration