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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2020
Parent Company Financial Information [Abstract] |
Parent Company Financial Information | Condensed Balance Sheets
|  | December 31, |
(In thousands) |  | 2020 |  |  | 2019 |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 37,915 |  |  | $ | 9,387 |
Equity securities, at estimated fair value |  |  | 25,111 |  |  |  | 22,441 |
Investment in subsidiaries, on equity basis |  |  | 1,345,317 |  |  |  | 1,209,752 |
Other assets |  |  | 30,577 |  |  |  | 30,855 |
Total assets |  | $ | 1,438,920 |  |  | $ | 1,272,435 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |
Total liabilities |  | $ | 251,302 |  |  | $ | 152,038 |
Stockholders’ equity |  |  | 1,187,618 |  |  |  | 1,120,397 |
Total liabilities and stockholders’ equity |  | $ | 1,438,920 |  |  | $ | 1,272,435 |
Condensed Statements of Income
|  | Years Ended December 31, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Dividends from subsidiaries |  | $ | 77,000 |  |  | $ | 50,200 |  |  | $ | 43,000 |
Management fee from subsidiaries |  |  | 4,151 |  |  |  | 7,981 |  |  |  | 7,907 |
Net securities (losses) gains |  |  | (483 | ) |  |  | 165 |  |  |  | 399 |
Interest, dividends and other income |  |  | 824 |  |  |  | 876 |  |  |  | 905 |
Total revenue |  | $ | 81,492 |  |  | $ | 59,222 |  |  | $ | 52,211 |
Operating expenses |  |  | 11,825 |  |  |  | 14,262 |  |  |  | 14,226 |
Income before income tax benefit and equity in undistributed income of subsidiaries |  | $ | 69,667 |  |  | $ | 44,960 |  |  | $ | 37,985 |
Income tax benefit |  |  | (2,653 | ) |  |  | (1,588 | ) |  |  | (1,608 | )
Equity in undistributed income of subsidiaries |  |  | 32,068 |  |  |  | 74,473 |  |  |  | 72,973 |
Net income |  | $ | 104,388 |  |  | $ | 121,021 |  |  | $ | 112,566 |
Condensed Statements of Cash Flow
|  | Years Ended December 31, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Operating activities |  |  |  |  |  |  |  |  |
Net income |  | $ | 104,388 |  |  | $ | 121,021 |  |  | $ | 112,566 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization of premises and equipment |  |  | 1,739 |  |  |  | 2,298 |  |  |  | 2,814 |
Excess tax benefit on stock-based compensation |  |  | (181 | ) |  |  | (409 | ) |  |  | (543 | )
Stock-based compensation expense |  |  | 4,581 |  |  |  | 4,210 |  |  |  | 3,936 |
Net securities losses (gains) |  |  | 483 |  |  |  | (165 | ) |  |  | (399 | )
Equity in undistributed income of subsidiaries |  |  | (32,068 | ) |  |  | (74,473 | ) |  |  | (72,973 | )
Bank owned life insurance income |  |  | (391 | ) |  |  | (398 | ) |  |  | (424 | )
Amortization of subordinated debt issuance costs |  |  | 230 |  |  |  | - |  |  |  | - |
Net change in other assets and other liabilities |  |  | (3,535 | ) |  |  | (1,573 | ) |  |  | (6,124 | )
Net cash provided by operating activities |  | $ | 75,246 |  |  | $ | 50,511 |  |  | $ | 38,853 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |
Investment in the Bank |  | $ | (90,000 | ) |  | $ | - |  |  | $ | - |
Proceeds from calls of equity securities |  |  | 2,000 |  |  |  | - |  |  |  | - |
Proceeds on sales of equity securities |  |  | - |  |  |  | - |  |  |  | 3,318 |
Purchases of equity securities |  |  | - |  |  |  | (93 | ) |  |  | (2 | )
Net cash (used in) provided by investing activities |  | $ | (88,000 | ) |  | $ | (93 | ) |  | $ | 3,316 |
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of subordinated debt |  | $ | 100,000 |  |  | $ | - |  |  | $ | - |
Payment of subordinated debt issuance costs |  |  | (2,178 | ) |  |  | - |  |  |  | - |
Proceeds from the issuance of shares to employee and other stock plans |  |  | 184 |  |  |  | 725 |  |  |  | 1,296 |
Cash paid by employer for tax-withholding on stock issuance |  |  | (1,537 | ) |  |  | (1,622 | ) |  |  | (1,893 | )
Purchases of treasury shares |  |  | (7,980 | ) |  |  | - |  |  |  | - |
Cash dividends |  |  | (47,207 | ) |  |  | (46,010 | ) |  |  | (43,269 | )
Net cash provided by (used in) financing activities |  | $ | 41,282 |  |  | $ | (46,907 | ) |  | $ | (43,866 | )
Net increase (decrease) in cash and cash equivalents |  | $ | 28,528 |  |  | $ | 3,511 |  |  | $ | (1,697 | )
Cash and cash equivalents at beginning of year |  |  | 9,387 |  |  |  | 5,876 |  |  |  | 7,572 |
Cash and cash equivalents at end of year |  | $ | 37,915 |  |  | $ | 9,387 |  |  | $ | 5,876 |

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + 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 + Details
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