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Condensed Financial Information of Parent Company (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

CONDENSED BALANCE SHEETS

		December 31,
		2020				2019
		(Dollars in thousands)
Assets
Investment in subsidiaries		$	1,990,166			$	2,003,692
Other assets, net			68,679				42,070
Total assets		$	2,058,845			$	2,045,762
Liabilities		$	50,855			$	51,664
Stockholders’ equity			2,007,990				1,994,098
Total liabilities and stockholders’ equity		$	2,058,845			$	2,045,762

Condensed Statements of Earnings

CONDENSED STATEMENTS OF EARNINGS

		Year Ended December 31,
		2020				2019				2018
		(Dollars in thousands)
Equity in net earnings of subsidiaries		$	(34,936	)		$	107,185			$	78,601
Dividends from the Bank			217,000				106,000				77,800
Other expense, net			(4,905	)			(5,358	)			(4,398	)
Net earnings		$	177,159			$	207,827			$	152,003

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

		Year Ended December 31,
		2020				2019				2018
		(Dollars in thousands)
Cash Flows from Operating Activities
Net earnings		$	177,159			$	207,827			$	152,003
Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries			(182,064	)			(213,185	)			(156,401	)
Tax settlement received from the Bank			-				1,008				-
Stock-based compensation			5,529				5,548				3,508
Other operating activities, net			(2,018	)			(2,417	)			(2,052	)
Total adjustments			(178,553	)			(209,046	)			(154,945	)
Net cash used in operating activities			(1,394	)			(1,219	)			(2,942	)
Cash Flows from Investing Activities
Dividends received from the Bank			217,000				106,000				77,800
Net cash provided by investing activities			217,000				106,000				77,800
Cash Flows from Financing Activities
Cash dividends on common stock			(98,475	)			(95,352	)			(65,966	)
Proceeds from exercise of stock options			231				2,215				1,701
Repurchase of common stock			(92,772	)			(2,640	)			(7,760	)
Net cash used in financing activities			(191,016	)			(95,777	)			(72,025	)
Net increase in cash and cash equivalents			24,590				9,004				2,833
Cash and cash equivalents, beginning of period			31,054				22,050				19,217
Cash and cash equivalents, end of period		$	55,644			$	31,054			$	22,050

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- References

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- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

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Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Number 210
-Section 3
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Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

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