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Parent Company Statements (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Balance Sheets |
Condensed Balance Sheets
December 31, 2018 and 2017
(In thousands) |  | 2018 |  | 2017
Assets: |  |  |  |
Cash |  | $ | 75,094 |  |  | $ | 79,452 |
Investment in subsidiaries |  | 727,773 |  |  | 645,287 |
Debentures receivable from PNB |  | 25,000 |  |  | 25,000 |
Other investments |  | 1,165 |  |  | 1,398 |
Other assets |  | 25,972 |  |  | 26,838 |
Total assets |  | $ | 855,004 |  |  | $ | 777,975 |
Liabilities: |  |  |  |
Subordinated notes |  | 15,000 |  |  | 15,000 |
Other liabilities |  | 7,498 |  |  | 6,874 |
Total liabilities |  | 22,498 |  |  | 21,874 |
Total shareholders’ equity |  | 832,506 |  |  | 756,101 |
Total liabilities and shareholders’ equity |  | $ | 855,004 |  |  | $ | 777,975 |
Statements of Income |
Condensed Statements of Income
for the years ended December 31, 2018, 2017 and 2016
(In thousands) |  | 2018 |  | 2017 |  | 2016
Income: |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 100,000 |  |  | $ | 60,000 |  |  | $ | 60,000 |
Interest and dividends |  | 1,275 |  |  | 1,500 |  |  | 2,164 |
Gain on sale of investment securities |  | — |  |  | 1,821 |  |  | — |
Other |  | 6,068 |  |  | 1,405 |  |  | 1,081 |
Total income |  | 107,343 |  |  | 64,726 |  |  | 63,245 |
Expense: |  |  |  |  |  |
Interest expense |  | 617 |  |  | 1,073 |  |  | 2,429 |
Other, net |  | 14,619 |  |  | 8,805 |  |  | 9,730 |
Total expense |  | 15,236 |  |  | 9,878 |  |  | 12,159 |
Income before income taxes and equity in undistributed income of subsidiaries |  | 92,107 |  |  | 54,848 |  |  | 51,086 |
Income tax benefit |  | 4,010 |  |  | 2,695 |  |  | 4,357 |
Income before equity in undistributed income of subsidiaries |  | 96,117 |  |  | 57,543 |  |  | 55,443 |
Equity in undistributed income of subsidiaries |  | 14,270 |  |  | 26,699 |  |  | 30,692 |
Net income |  | $ | 110,387 |  |  | $ | 84,242 |  |  | $ | 86,135 |
Other comprehensive loss (1) |  | (18,533 | ) |  | (8,709 | ) |  | (2,102 | )
Comprehensive income |  | $ | 91,854 |  |  | $ | 75,533 |  |  | $ | 84,033 |
Statements of Cash Flows |
Statements of Cash Flows
for the years ended December 31, 2018, 2017 and 2016
(In thousands) |  | 2018 |  | 2017 |  | 2016
Operating activities: |  |  |  |  |  |
Net income |  | $ | 110,387 |  |  | $ | 84,242 |  |  | $ | 86,135 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Undistributed income of subsidiaries |  | (14,270 | ) |  | (26,699 | ) |  | (30,692 | )
Compensation expense for issuance of treasury shares to directors |  | 1,109 |  |  | 1,241 |  |  | 950 |
Share-based compensation expense |  | 3,954 |  |  | 2,701 |  |  | 1,864 |
Realized net investment security gains |  | — |  |  | (1,821 | ) |  | — |
Gain on equity securities, net |  | (3,267 | ) |  | — |  |  | — |
(Increase) decrease in other assets |  | (2,073 | ) |  | 205 |  |  | (3,425 | )
(Decrease) increase in other liabilities |  | (163 | ) |  | 475 |  |  | (2,524 | )
Net cash provided by operating activities |  | 95,677 |  |  | 60,344 |  |  | 52,308 |
Investing activities: |  |  |  |  |  |
Proceeds from sales of securities |  | — |  |  | 2,265 |  |  | — |
Outlays for business acquisitions |  | (30,684 | ) |  | — |  |  | — |
Repayment of investments in and advances to subsidiaries |  | — |  |  | — |  |  | 15,000 |
Other, net |  | 60 |  |  | — |  |  | — |
Net cash (used in) provided by investing activities |  | (30,624 | ) |  | 2,265 |  |  | 15,000 |
Financing activities: |  |  |  |  |  |
Cash dividends paid |  | (63,013 | ) |  | (57,493 | ) |  | (57,653 | )
Repayment of subordinated notes |  | — |  |  | (30,000 | ) |  | — |
Repurchase of treasury shares |  | (5,784 | ) |  | (7,378 | ) |  | — |
Cash payment for fractional shares |  | (4 | ) |  | (6 | ) |  | (4 | )
Value of common shares withheld to pay employee income taxes |  | (610 | ) |  | (347 | ) |  | — |
Net cash used in financing activities |  | (69,411 | ) |  | (95,224 | ) |  | (57,657 | )
(Decrease) increase in cash |  | (4,358 | ) |  | (32,615 | ) |  | 9,651 |
Cash at beginning of year |  | 79,452 |  |  | 112,067 |  |  | 102,416 |
Cash at end of year |  | $ | 75,094 |  |  | $ | 79,452 |  |  | $ | 112,067 |

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