Condensed Financial Information of Parent Company (Tables)

12 Months Ended

Dec. 31, 2016

CONDENSED BALANCE SHEETS


	As of December 31,
	2016		2015
	(Dollars in thousands)
Assets
Investment in subsidiaries	$	1,005,160	$	939,064
Other assets, net		24,754		23,642

Total assets	$	1,029,914	$	962,706


Liabilities	$	39,052	$	39,307
Stockholders’ equity		990,862		923,399

Total liabilities and stockholders’ equity	$	1,029,914	$	962,706

CONDENSED STATEMENTS OF EARNINGS


	For the Year Ended December 31,
	2016		2015		2014
	(Dollars in thousands)
Excess in net earnings of subsidiaries	$	55,192	$	53,259	$	66,119
Dividends from the Bank		49,000		49,000		41,000
Other expense, net		(2,763)		(3,114)		(3,098)

Net earnings	$	101,429	$	99,145	$	104,021

CONDENSED STATEMENTS OF CASH FLOWS


	For the Year Ended December 31,
	2016		2015		2014
	(Dollars in thousands)
Cash Flows from Operating Activities
Net earnings	$	101,429	$	99,145	$	104,021

Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries		(104,192)		(102,259)		(107,119)
Tax settlement received from the Bank		2,557		1,233		1,812
Stock-based compensation		2,803		2,733		2,988
Other operating activities, net		(3,362)		(2,180)		(3,080)

Total adjustments		(102,194)		(100,473)		(105,399)

Net cash used in operating activities		(765)		(1,328)		(1,378)

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

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

Cash Flows from Financing Activities
Cash dividends on common stock		(51,625)		(48,862)		(42,298)
Proceeds from exercise of stock options		5,151		5,144		5,522
Tax benefit related to exercise of stock options		932		308		1,116
Repurchase of common stock		(1,907)		(834)		(5,474)

Net cash used in financing activities		(47,449)		(44,244)		(41,134)

Net increase (decrease) in cash and cash equivalents		786		3,428		(1,512)
Cash and cash equivalents, beginning of period		16,960		13,532		15,044

Cash and cash equivalents, end of period	$	17,746	$	16,960	$	13,532