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Condensed Financial Information (Parent Company Only) (Tables) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheet |
(In thousands) | 2024 |  | 2023
ASSETS |  |  |
Cash and cash equivalents | $ | 287,066 |  |  | $ | 164,439 |
Investments in wholly-owned subsidiaries | 3,570,446 |  |  | 3,603,066 |
Loans | — |  |  | 102 |
Intangible assets, net | 133 |  |  | 133 |
Premises and equipment | 18,929 |  |  | 20,498 |
Other assets | 75,707 |  |  | 50,642 |
TOTAL ASSETS | $ | 3,952,281 |  |  | $ | 3,838,880 |
LIABILITIES |  |  |
Long-term debt | $ | 383,720 |  |  | $ | 385,285 |
Other liabilities | 39,689 |  |  | 27,107 |
Total liabilities | 423,409 |  |  | 412,392 |
STOCKHOLDERS’ EQUITY |  |  |
Common stock | 1,257 |  |  | 1,252 |
Surplus | 2,511,590 |  |  | 2,499,930 |
Undivided profits | 1,376,935 |  |  | 1,329,681 |
Accumulated other comprehensive loss: |  |  |
Unrealized depreciation on available-for-sale securities, net of income taxes of $(127,698) and $(143,076) at December 31, 2024 and 2023, respectively | (360,910) |  |  | (404,375) |
Total stockholders’ equity | 3,528,872 |  |  | 3,426,488 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 3,952,281 |  |  | $ | 3,838,880 |
Condensed Income Statement |
(In thousands) | 2024 |  | 2023 |  | 2022
INCOME |  |  |  |  |
Dividends from subsidiaries | $ | 265,965 |  |  | $ | 166,874 |  |  | $ | 219,868 |
Other income | 570 |  |  | 303 |  |  | 508 |
Income | 266,535 |  |  | 167,177 |  |  | 220,376 |
EXPENSE | 50,075 |  |  | 44,685 |  |  | 46,133 |
Income before income taxes and equity in undistributed net income of subsidiaries | 216,460 |  |  | 122,492 |  |  | 174,243 |
Provision for income taxes | (12,294) |  |  | (10,790) |  |  | (9,391) |
Income before equity in undistributed net income of subsidiaries | 228,754 |  |  | 133,282 |  |  | 183,634 |
Equity in undistributed net income (loss) of subsidiaries | (76,061) |  |  | 41,775 |  |  | 72,778 |
NET INCOME | $ | 152,693 |  |  | $ | 175,057 |  |  | $ | 256,412 |
Condensed Statement of Comprehensive Income |
(In thousands) | 2024 |  | 2023 |  | 2022
NET INCOME | $ | 152,693 |  |  | $ | 175,057 |  |  | $ | 256,412 |
OTHER COMPREHENSIVE INCOME (LOSS) |  |  |  |  |
Equity in other comprehensive income (loss) of subsidiaries | 43,465 |  |  | 113,185 |  |  | (507,015) |
COMPREHENSIVE INCOME (LOSS) | $ | 196,158 |  |  | $ | 288,242 |  |  | $ | (250,603) |
Condensed Cash Flow Statement |
(In thousands) | 2024 |  | 2023 |  | 2022
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |
Net income | $ | 152,693 |  |  | $ | 175,057 |  |  | $ | 256,412 |
Items not requiring (providing) cash |  |  |  |  |
Stock-based compensation expense | 11,290 |  |  | 12,189 |  |  | 15,317 |
Depreciation and amortization | 1,614 |  |  | 1,637 |  |  | 1,981 |
Deferred income taxes | (1,628) |  |  | (1,742) |  |  | (652) |
Equity in undistributed net income (loss) of bank subsidiaries | 76,061 |  |  | (41,775) |  |  | (72,778) |
Changes in: |  |  |  |  |
Other assets | (23,437) |  |  | 37,720 |  |  | (26,775) |
Other liabilities | 12,734 |  |  | 2,293 |  |  | (28,745) |
Net cash provided by operating activities | 229,327 |  |  | 185,379 |  |  | 144,760 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |
Net collections of loans | 102 |  |  | 1,310 |  |  | 1,198 |
Net purchases of premises and equipment | (45) |  |  | (52) |  |  | (21) |
Cash acquired in business combinations | — |  |  | — |  |  | 60,126 |
Other, net | 24 |  |  | 5,856 |  |  | 1,688 |
Net cash provided by investing activities | 81 |  |  | 7,114 |  |  | 62,991 |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |
Repayment of long-term debt, net | (1,717) |  |  | (1,664) |  |  | (57,436) |
Issuance (cancellation) of common stock, net | 375 |  |  | (2,021) |  |  | (3,882) |
Stock repurchases | — |  |  | (40,322) |  |  | (111,133) |
Dividends paid on common stock | (105,439) |  |  | (100,962) |  |  | (94,096) |
Net cash used in financing activities | (106,781) |  |  | (144,969) |  |  | (266,547) |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 122,627 |  |  | 47,524 |  |  | (58,796) |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 164,439 |  |  | 116,915 |  |  | 175,711 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $ | 287,066 |  |  | $ | 164,439 |  |  | $ | 116,915 |

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