XML 50 R30.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Note 22 - Condensed Financial Information (Parent Company Only) | 12 Months Ended
--- | ---
Dec. 31, 2017
Notes to Financial Statements |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 22: CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS DECEMBER 31, 2017 and 2016
(In thousands) |  | 2017 |  | 2016
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 19,101 |  |  | $ | 93,266 |
Investment securities |  |  | 2,789 |  |  |  | 79 |
Investments in wholly-owned subsidiaries |  |  | 2,288,687 |  |  |  | 1,141,294 |
Loans |  |  | 993 |  |  |  | 1,083 |
Intangible assets, net |  |  | 133 |  |  |  | 133 |
Premises and equipment |  |  | 10,369 |  |  |  | 11,534 |
Other assets |  |  | 31,181 |  |  |  | 27,955 |
TOTAL ASSETS |  | $ | 2,353,253 |  |  | $ | 1,275,344 |
LIABILITIES |  |  |  |  |  |  |  |
Short-term debt |  | $ | 75,000 |  |  | $ | -- |
Long-term debt |  |  | 183,947 |  |  |  | 108,326 |
Other liabilities |  |  | 9,742 |  |  |  | 15,907 |
Total liabilities |  |  | 268,689 |  |  |  | 124,233 |
STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Common stock |  |  | 920 |  |  |  | 626 |
Surplus |  |  | 1,586,034 |  |  |  | 711,663 |
Undivided profits |  |  | 514,874 |  |  |  | 454,034 |
Accumulated other comprehensive loss |  |  |  |  |  |  |  |
Unrealized depreciation on available-for-sale securities, net of income taxes of ($6,108) and ($9,818) at December 31, 2017 and 2016 respectively |  |  | (17,264 | ) |  |  | (15,212 | )
Total stockholders’ equity |  |  | 2,084,564 |  |  |  | 1,151,111 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |  | $ | 2,353,253 |  |  | $ | 1,275,344 |
CONDENSED STATEMENTS OF INCOME YEARS ENDED DECEMBER 31, 2017, 2016 and 2015
(In thousands) |  | 2017 |  | 2016 |  | 2015
INCOME |  |  |  |  |  |  |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 69,107 |  |  | $ | 83,710 |  |  | $ | 84,128 |
Other income |  |  | 4,111 |  |  |  | 2,465 |  |  |  | 2,303 |
Income |  |  | 73,218 |  |  |  | 86,175 |  |  |  | 86,431 |
EXPENSE |  |  | 32,234 |  |  |  | 21,990 |  |  |  | 24,594 |
Income before income taxes and equity in undistributed net income of subsidiaries |  |  | 40,984 |  |  |  | 64,185 |  |  |  | 61,837 |
Provision for income taxes |  |  | (12,311 | ) |  |  | (7,557 | ) |  |  | (8,251 | )
Income before equity in undistributed net income of subsidiaries |  |  | 53,295 |  |  |  | 71,742 |  |  |  | 70,088 |
Equity in undistributed net income of subsidiaries |  |  | 39,645 |  |  |  | 25,072 |  |  |  | 4,276 |
NET INCOME |  |  | 92,940 |  |  |  | 96,814 |  |  |  | 74,364 |
Preferred stock dividends |  |  | -- |  |  |  | 24 |  |  |  | 257 |
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS |  | $ | 92,940 |  |  | $ | 96,790 |  |  | $ | 74,107 |
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2017, 2016 and 2015
(In thousands) |  | 2017 |  | 2016 |  | 2015
NET INCOME |  | $ | 92,940 |  |  | $ | 96,814 |  |  | $ | 74,364 |
OTHER COMPREHENSIVE INCOME |  |  |  |  |  |  |  |  |  |  |  |
Equity in other comprehensive income (loss) income of subsidiaries |  |  | 964 |  |  |  | (12,547 | ) |  |  | (1,329 | )
COMPREHENSIVE INCOME |  | $ | 93,904 |  |  | $ | 84,267 |  |  | $ | 73,035 |
CONDENSED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2017, 2016 and 2015
(In thousands) |  | 2017 |  | 2016 |  | 2015
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 92,940 |  |  | $ | 96,814 |  |  | $ | 74,364 |
Items not requiring (providing) cash |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation expense |  |  | 10,681 |  |  |  | 3,418 |  |  |  | 4,018 |
Depreciation and amortization |  |  | 1,183 |  |  |  | 700 |  |  |  | 317 |
Deferred income taxes |  |  | 1,190 |  |  |  | (2,526 | ) |  |  | 1,287 |
Equity in undistributed net income of bank subsidiaries |  |  | (39,645 | ) |  |  | (25,072 | ) |  |  | (4,276 | )
Changes in |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  | 8,585 |  |  |  | 2,816 |  |  |  | (15,232 | )
Other liabilities |  |  | (6,769 | ) |  |  | (1,358 | ) |  |  | 13,121 |
Net cash provided by operating activities |  |  | 68,165 |  |  |  | 74,792 |  |  |  | 73,599 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Net originations of loans |  |  | 90 |  |  |  | (1,710 | ) |  |  | -- |
Net purchases of premises and equipment |  |  | (18 | ) |  |  | (6,896 | ) |  |  | 56 |
Additional investment in subsidiary |  |  | (15,000 | ) |  |  | -- |  |  |  | -- |
Proceeds from maturities of available-for-sale securities |  |  | 42 |  |  |  | 1,973 |  |  |  | -- |
Purchases of available-for-sale securities |  |  | (2,752 | ) |  |  | (3 | ) |  |  | (354 | )
Cash received (paid) in business combinations |  |  | (100,468 | ) |  |  | (35,048 | ) |  |  | 44,173 |
Net cash (used in) provided by investing activities |  |  | (118,106 | ) |  |  | (41,684 | ) |  |  | 43,875 |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Issuance (repayment) of long-term debt, net |  |  | 8,014 |  |  |  | (4,544 | ) |  |  | 8,126 |
Issuance of common stock, net |  |  | 2,878 |  |  |  | 4,938 |  |  |  | 3,529 |
Dividends paid on preferred stock |  |  | -- |  |  |  | (24 | ) |  |  | (257 | )
Dividends paid on common stock |  |  | (35,116 | ) |  |  | (28,743 | ) |  |  | (27,026 | )
Redemption of preferred stock |  |  | -- |  |  |  | (30,852 | ) |  |  | -- |
Net cash used in financing activities |  |  | (24,224 | ) |  |  | (59,225 | ) |  |  | (15,628 | )
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS |  |  | (74,165 | ) |  |  | (26,117 | ) |  |  | 101,846 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR |  |  | 93,266 |  |  |  | 119,383 |  |  |  | 17,537 |
CASH AND CASH EQUIVALENTS, END OF YEAR |  | $ | 19,101 |  |  | $ | 93,266 |  |  | $ | 119,383 |

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

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