Condensed Financial Information of Parent Company (Tables)

12 Months Ended

Dec. 31, 2015

CONDENSED BALANCE SHEETS


	As of December 31,
	2015		2014
	(Dollars in thousands)
Assets
Investment in subsidiaries	$	939,064	$	895,972
Other assets, net		23,642		19,069

Total assets	$	962,706	$	915,041

Liabilities	$	39,307	$	36,932
Stockholders’ equity		923,399		878,109

Total liabilities and stockholders’ equity	$	962,706	$	915,041

CONDENSED STATEMENTS OF EARNINGS


	For the Year Ended December 31,
	2015			2014			2013
	(Dollars in thousands)
Excess in net earnings of subsidiaries	$	53,259		$	66,119		$	33,149
Dividends from the Bank		49,000			41,000			63,000
Other expense, net		(3,114	)		(3,098	)		(541	)

Net earnings	$	99,145		$	104,021		$	95,608

CONDENSED STATEMENTS OF CASH FLOWS


	For the Year Ended December 31,
	2015			2014			2013
	(Dollars in thousands)
Cash Flows from Operating Activities
Net earnings	$	99,145		$	104,021		$	95,608

Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries		(102,259	)		(107,119	)		(96,149	)
Tax settlement received from the Bank		1,233			1,812			1,903
Stock-based compensation		2,733			2,988			1,926
Other operating activities, net		(2,180	)		(3,080	)		241

Total adjustments		(100,473	)		(105,399	)		(92,079	)

Net cash (used in) provided by operating activities		(1,328	)		(1,378	)		3,529

Cash Flows from Investing Activities
Dividends received from the Bank		49,000			41,000			63,000

Net cash provided by investing activities		49,000			41,000			63,000

Cash Flows from Financing Activities
Repayment of junior subordinated debentures		—			—			(41,238	)
Cash dividends on common stock		(48,862	)		(42,298	)		(29,939	)
Proceeds from exercise of stock options		5,144			5,522			4,517
Tax benefit related to exercise of stock options		308			1,116			475
Repurchase of common stock		(834	)		(5,474	)		(559	)

Net cash used in financing activities		(44,244	)		(41,134	)		(66,744	)

Net increase (decrease) in cash and cash equivalents		3,428			(1,512	)		(215	)
Cash and cash equivalents, beginning of period		13,532			15,044			15,259

Cash and cash equivalents, end of period	$	16,960		$	13,532		$	15,044