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Condensed Parent Company Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets |
CONDENSED BALANCE SHEETS | As of December 31,
($ in thousands) | 2022 |  | 2021
Assets |  |  |
Cash on deposit with bank subsidiary | $ | 5,611 |  |  | 18,625 |
Investment in wholly-owned subsidiaries, at equity | 1,100,829 |  |  | 1,279,285 |
Premises and Equipment | 7 |  |  | 7 |
Other assets | 22 |  |  | 5,056 |
Total assets | $ | 1,106,469 |  |  | 1,302,973 |
Liabilities and shareholders’ equity |  |  |
Trust preferred securities | $ | 65,665 |  |  | 65,412 |
Other liabilities | 9,208 |  |  | 6,986 |
Total liabilities | 74,873 |  |  | 72,398 |
Shareholders’ equity | 1,031,596 |  |  | 1,230,575 |
Total liabilities and shareholders’ equity | $ | 1,106,469 |  |  | 1,302,973 |
Condensed Statements of Income |
CONDENSED STATEMENTS OF INCOME | Year Ended December 31,
($ in thousands) | 2022 |  | 2021 |  | 2020
Dividends from wholly-owned subsidiaries | $ | 17,400 |  |  | 25,300 |  |  | 63,100 |
Earnings of wholly-owned subsidiaries, net of dividends | 133,147 |  |  | 75,697 |  |  | 20,899 |
Interest expense | (2,672) |  |  | (1,455) |  |  | (1,743) |
All other expense, net | (939) |  |  | (3,898) |  |  | (779) |
Net income | $ | 146,936 |  |  | 95,644 |  |  | 81,477 |
Condensed Statements of Cash Flows |
CONDENSED STATEMENTS OF CASH FLOWS | Year Ended December 31,
($ in thousands) | 2022 |  | 2021 |  | 2020
Operating Activities: |  |  |  |  |
Net income | $ | 146,936 |  |  | 95,644 |  |  | 81,477 |
Equity in undistributed earnings of subsidiaries | (133,147) |  |  | (75,697) |  |  | (20,899) |
Decrease in other assets | 4,055 |  |  | 3,924 |  |  | 5,806 |
Increase (decrease) in other liabilities | 642 |  |  | (859) |  |  | (3) |
Total – operating activities | 18,486 |  |  | 23,012 |  |  | 66,381 |
Investing Activities: |  |  |  |  |
Net cash received in acquisitions | — |  |  | 7,379 |  |  | — |
Total - investing activities | — |  |  | 7,379 |  |  | — |
Financing Activities: |  |  |  |  |
Payment of common stock cash dividends | (30,660) |  |  | (22,228) |  |  | (20,936) |
Repurchases of common stock | — |  |  | (4,036) |  |  | (31,868) |
Stock withheld for payment of taxes | (840) |  |  | (786) |  |  | (307) |
Total - financing activities | (31,500) |  |  | (27,050) |  |  | (53,111) |
Net (decrease) increase in cash | (13,014) |  |  | 3,341 |  |  | 13,270 |
Cash, beginning of year | 18,625 |  |  | 15,284 |  |  | 2,014 |
Cash, end of year | $ | 5,611 |  |  | 18,625 |  |  | 15,284 |

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