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Condensed Financial Information of Parent Company (Tables)
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheets
CONDENSED BALANCE SHEETS
 
 
 
As of December 31,
 
 
 
2018
 
 
2017
 
 
 
(Dollars in thousands)
 
Assets
 
 
 
 
 
 
 
 
Investment in subsidiaries
 
$
1,865,609
 
 
$
1,084,332
 
Other assets, net
 
 
31,628
 
 
 
26,703
 
Total assets
 
$
1,897,237
 
 
$
1,111,035
 
Liabilities
 
$
46,047
 
 
$
41,769
 
Stockholders’ equity
 
 
1,851,190
 
 
 
1,069,266
 
Total liabilities and stockholders’ equity
 
$
1,897,237
 
 
$
1,111,035
 
Condensed Statements of Earnings
CONDENSED STATEMENTS OF EARNINGS
 
 
 
For the Year Ended December 31,
 
 
 
2018
 
 
2017
 
 
2016
 
 
 
(Dollars in thousands)
 
Excess in net earnings of subsidiaries
 
$
78,601
 
 
$
50,253
 
 
$
55,192
 
Dividends from the Bank
 
 
77,800
 
 
 
57,000
 
 
 
49,000
 
Other expense, net
 
 
(4,398
)
 
 
(2,842
)
 
 
(2,763
)
Net earnings
 
$
152,003
 
 
$
104,411
 
 
$
101,429
 
Condensed Statements of Cash Flows
CONDENSED STATEMENTS OF CASH FLOWS
 
 
 
For the Year Ended December 31,
 
 
 
2018
 
 
2017
 
 
2016
 
 
 
(Dollars in thousands)
 
Cash Flows from Operating Activities
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
$
152,003
 
 
$
104,411
 
 
$
101,429
 
Adjustments to reconcile net earnings to cash used in operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
Earnings of subsidiaries
 
 
(156,401
)
 
 
(107,253
)
 
 
(104,192
)
Tax settlement received from the Bank
 
 
—
 
 
 
1,577
 
 
 
2,557
 
Stock-based compensation
 
 
3,508
 
 
 
2,953
 
 
 
2,803
 
Other operating activities, net
 
 
(2,052
)
 
 
(1,725
)
 
 
(3,362
)
Total adjustments
 
 
(154,945
)
 
 
(104,448
)
 
 
(102,194
)
Net cash used in operating activities
 
 
(2,942
)
 
 
(37
)
 
 
(765
)
Cash Flows from Investing Activities
 
 
 
 
 
 
 
 
 
 
 
 
Dividends received from the Bank
 
 
77,800
 
 
 
57,000
 
 
 
49,000
 
Net cash provided by investing activities
 
 
77,800
 
 
 
57,000
 
 
 
49,000
 
Cash Flows from Financing Activities
 
 
 
 
 
 
 
 
 
 
 
 
Cash dividends on common stock
 
 
(65,966
)
 
 
(57,047
)
 
 
(51,625
)
Proceeds from exercise of stock options
 
 
1,701
 
 
 
2,683
 
 
 
5,151
 
Tax benefit related to exercise of stock options
 
 
—
 
 
 
—
 
 
 
932
 
Repurchase of common stock
 
 
(7,760
)
 
 
(1,128
)
 
 
(1,907
)
Net cash used in financing activities
 
 
(72,025
)
 
 
(55,492
)
 
 
(47,449
)
Net increase in cash and cash equivalents
 
 
2,833
 
 
 
1,471
 
 
 
786
 
Cash and cash equivalents, beginning of period
 
 
19,217
 
 
 
17,746
 
 
 
16,960
 
Cash and cash equivalents, end of period
 
$
22,050
 
 
$
19,217
 
 
$
17,746