Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Summary of Condensed Balance Sheets of Parent Company

Balance Sheets



	December 31,
	2018		2017
(amounts in thousands)
Assets
Cash in subsidiary bank	$	16,684	$	67,231
Investments in and receivables due from subsidiaries	1,061,389		1,039,883
Other assets	3,417		3,160
Total assets	$	1,081,490	$	1,110,274
Liabilities and Shareholders' equity
Borrowings	$	123,871	$	186,497
Other liabilities	803		2,813
Total liabilities	124,674		189,310
Shareholders' equity	956,816		920,964
Total Liabilities and Shareholders' Equity	$	1,081,490	$	1,110,274

Summary of Condensed Income Statements of Parent Company

Income and Comprehensive Income Statements



	For the Years Ended December 31,
	2018		2017		2016
(amounts in thousands)
Operating income:
Other, including dividends from Bank	$	45,422	$	38,200	$	25,400
Total operating income	45,422		38,200		25,400
Operating expense:
Interest	8,178		7,984		5,854
Other	1,722		1,742		4,570
Total operating expense	9,900		9,726		10,424
Income before taxes and undistributed income of subsidiaries	35,522		28,474		14,976
Income tax benefit	2,335		3,620		3,961
Income before undistributed income of subsidiaries	37,857		32,094		18,937
Equity in undistributed income of subsidiaries	33,838		46,743		59,765
Net income	71,695		78,837		78,702
Preferred stock dividends	14,459		14,459		9,515
Net income available to common shareholders	57,236		64,378		69,187
Comprehensive income	$	50,730	$	83,370	$	81,794

Summary of Condensed Statements of Cash Flows of Parent Company

Statements of Cash Flows



	For the Years Ended December 31,
(amounts in thousands)	2018			2017			2016
Cash Flows from Operating Activities:
Net income	$	71,695		$	78,837		$	78,702
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries, net of dividends received from Bank	(33,838		)	(46,743		)	(59,765		)
Loss on sale of available for sale investment securities	—			—			1
(Increase) decrease in other assets	(256		)	7,624			(7,721		)
(Decrease) increase in other liabilities	(251		)	(1,322		)	54
Net Cash Provided By Operating Activities	37,350			38,396			11,271
Cash Flows from Investing Activities:
Proceeds from sales of investment securities available for sale	—			—			4
Payments for investments in and advances to subsidiaries	(29		)	(98,725		)	(230,872		)
Net Cash Used in Investing Activities	(29		)	(98,725		)	(230,868		)
Cash Flows from Financing Activities:
Proceeds from issuance of common stock	3,585			2,716			70,985
Proceeds from issuance of preferred stock	—			—			161,902
(Repayment of) proceeds from issuance of long-term debt	(63,250		)	98,564			—
Exercise and redemption of warrants	112			1,059			1,532
Purchase of common stock - repurchase program	(12,976		)	—			—
Payments of employee taxes withheld from share-based awards	(880		)	(14,761		)	(5,897		)
Preferred stock dividends paid	(14,459		)	(14,459		)	(9,051		)
Net Cash (Used in) Provided by Financing Activities	(87,868		)	73,119			219,471
Net (Decrease) Increase in Cash and Cash Equivalents	(50,547		)	12,790			(126		)
Cash and Cash Equivalents - Beginning	67,231			54,441			54,567
Cash and Cash Equivalents - Ending	$	16,684		$	67,231		$	54,441