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Condensed Financial Information (Parent Company Only) (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheet |
(In thousands) | 2021 |  | 2020
ASSETS |  |  |
Cash and cash equivalents | $ | 175,711 |  |  | $ | 172,083 |
Investment securities | 2,932 |  |  | 1,648 |
Investments in wholly-owned subsidiaries | 3,444,624 |  |  | 3,165,791 |
Loans | 2610 |  |  | 471 |
Intangible assets, net | 133 |  |  | 133 |
Premises and equipment | 23,861 |  |  | 25,606 |
Other assets | 53,877 |  |  | 56,257 |
TOTAL ASSETS | $ | 3,703,748 |  |  | $ | 3,421,989 |
LIABILITIES |  |  |
Long-term debt | $ | 406,552 |  |  | $ | 406,859 |
Other liabilities | 48,355 |  |  | 38,474 |
Total liabilities | 454,907 |  |  | 445,333 |
STOCKHOLDERS’ EQUITY |  |  |
Preferred stock | — |  |  | 767 |
Common stock | 1,127 |  |  | 1,081 |
Surplus | 2,164,989 |  |  | 2,014,076 |
Undivided profits | 1,093,270 |  |  | 901,006 |
Accumulated other comprehensive gain (loss): |  |  |
Unrealized appreciation on available-for-sale securities, net of income taxes of $(3,731) and $21,132 at December 31, 2020 and 2019 respectively | (10,545) |  |  | 59,726 |
Total stockholders’ equity | 3,248,841 |  |  | 2,976,656 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 3,703,748 |  |  | $ | 3,421,989 |
Condensed Income Statement |
(In thousands) | 2021 |  | 2020 |  | 2019
INCOME |  |  |  |  |
Dividends from subsidiaries | $ | 227,310 |  |  | $ | 311,253 |  |  | $ | 67,893 |
Other income | 1,080 |  |  | 762 |  |  | 13,658 |
Income | 228,390 |  |  | 312,015 |  |  | 81,551 |
EXPENSE | 44,847 |  |  | 37,204 |  |  | 40,594 |
Income before income taxes and equity in undistributed net income of subsidiaries | 183,543 |  |  | 274,811 |  |  | 40,957 |
Provision for income taxes | (11,314) |  |  | (9,438) |  |  | (5,680) |
Income before equity in undistributed net income of subsidiaries | 194,857 |  |  | 284,249 |  |  | 46,637 |
Equity in undistributed net income of subsidiaries | 76,299 |  |  | (29,345) |  |  | 191,530 |
NET INCOME | 271,156 |  |  | 254,904 |  |  | 238,167 |
Preferred stock dividends | 47 |  |  | 52 |  |  | 339 |
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS | $ | 271,109 |  |  | $ | 254,852 |  |  | $ | 237,828 |
Condensed Statement of Comprehensive Income |
(In thousands) | 2021 |  | 2020 |  | 2019
NET INCOME | $ | 271,156 |  |  | $ | 254,904 |  |  | $ | 238,167 |
OTHER COMPREHENSIVE INCOME (LOSS) |  |  |  |  |
Equity in other comprehensive income (loss) of subsidiaries | (70,271) |  |  | 38,835 |  |  | 48,265 |
COMPREHENSIVE INCOME | $ | 200,885 |  |  | $ | 293,739 |  |  | $ | 286,432 |
Condensed Cash Flow Statement |
(In thousands) | 2021 |  | 2020 |  | 2019
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |
Net income | $ | 271,156 |  |  | $ | 254,904 |  |  | $ | 238,167 |
Items not requiring (providing) cash |  |  |  |  |
Stock-based compensation expense | 15,868 |  |  | 13,197 |  |  | 12,921 |
Depreciation and amortization | 1,805 |  |  | 1,796 |  |  | 1,637 |
Deferred income taxes | 3,347 |  |  | 1,583 |  |  | (3,632) |
Equity in undistributed net income of bank subsidiaries | (76,299) |  |  | 29,345 |  |  | (191,530) |
Changes in: |  |  |  |  |
Other assets | (2,099) |  |  | (27,056) |  |  | 3,299 |
Other liabilities | 11,109 |  |  | 7,790 |  |  | (2,648) |
Net cash provided by operating activities | 224,887 |  |  | 281,559 |  |  | 58,214 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |
Net collections of loans | (2,139) |  |  | 186 |  |  | 117 |
Net (purchases of) proceeds from premises and equipment | (83) |  |  | (7) |  |  | (23,184) |
(Advances to) repayment for subsidiaries | — |  |  | (15,363) |  |  | — |
Proceeds from maturities of available-for-sale securities | — |  |  | — |  |  | 2,544 |
Purchases of available-for-sale securities | — |  |  | — |  |  | (439) |
Cash paid in business combinations | (6,818) |  |  | — |  |  | (36,811) |
Other, net | 2 |  |  | 185 |  |  | 29 |
Net cash used in investing activities | (9,038) |  |  | (14,999) |  |  | (57,744) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |
(Repayment) issuance of long-term debt, net | (1,563) |  |  | (7,442) |  |  | 2,000 |
(Cancellation) issuance of common stock, net | 1,460 |  |  | (3,131) |  |  | (1,077) |
Stock repurchases | (132,459) |  |  | (113,327) |  |  | (10,128) |
Dividends paid on preferred stock | (47) |  |  | (52) |  |  | (339) |
Dividends paid on common stock | (78,845) |  |  | (74,593) |  |  | (63,921) |
Preferred stock retirement | (767) |  |  | — |  |  | (42,000) |
Net cash used in financing activities | (212,221) |  |  | (198,545) |  |  | (115,465) |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,628 |  |  | 68,015 |  |  | (114,995) |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 172,083 |  |  | 104,068 |  |  | 219,063 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $ | 175,711 |  |  | $ | 172,083 |  |  | $ | 104,068 |

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