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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Parent Company Financial Information [Abstract] |
Parent Company Financial Information | Condensed Balance Sheets
|  | December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 185,451 |  |  | $ | 162,364 |
Equity securities, at estimated fair value |  |  | 33,922 |  |  |  | 28,739 |
Investment in subsidiaries, on equity basis |  |  | 1,534,693 |  |  |  | 1,464,980 |
Other assets |  |  | 49,694 |  |  |  | 42,435 |
Total assets |  | $ | 1,803,760 |  |  | $ | 1,698,518 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |
Total liabilities |  | $ | 277,619 |  |  | $ | 272,827 |
Stockholders’ equity |  |  | 1,526,141 |  |  |  | 1,425,691 |
Total liabilities and stockholders’ equity |  | $ | 1,803,760 |  |  | $ | 1,698,518 |
Condensed Statements of Income
|  | Years Ended December 31, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Dividends from subsidiaries |  | $ | 100,000 |  |  | $ | 116,250 |  |  | $ | 119,000 |
Management fee from subsidiaries |  |  | 5,797 |  |  |  | 7,093 |  |  |  | 2,005 |
Net securities gains (losses) |  |  | 575 |  |  |  | (82 | ) |  |  | (618 | )
Interest, dividends and other income |  |  | 726 |  |  |  | 715 |  |  |  | 638 |
Total revenue |  | $ | 107,098 |  |  | $ | 123,976 |  |  | $ | 121,025 |
Operating expenses |  |  | 25,491 |  |  |  | 22,930 |  |  |  | 14,035 |
Income before income tax benefit and equity in undistributed income of subsidiaries |  | $ | 81,607 |  |  | $ | 101,046 |  |  | $ | 106,990 |
Income tax expense (benefit) |  |  | (4,310 | ) |  |  | (3,785 | ) |  |  | (3,027 | )
Equity in undistributed income of subsidiaries |  |  | 54,724 |  |  |  | 13,951 |  |  |  | 41,978 |
Net income |  | $ | 140,641 |  |  | $ | 118,782 |  |  | $ | 151,995 |
Condensed Statements of Cash Flows
|  | Years Ended December 31, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Operating activities |  |  |  |  |  |  |  |  |
Net income |  | $ | 140,641 |  |  | $ | 118,782 |  |  | $ | 151,995 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization of premises and equipment |  |  | 336 |  |  |  | 353 |  |  |  | 582 |
Excess tax benefit on stock-based compensation |  |  | (295 | ) |  |  | (296 | ) |  |  | (288 | )
Stock-based compensation expense |  |  | 5,992 |  |  |  | 5,102 |  |  |  | 4,530 |
Net securities (gains) losses |  |  | (575 | ) |  |  | 82 |  |  |  | 618 |
Equity in undistributed income of subsidiaries |  |  | (54,724 | ) |  |  | (13,950 | ) |  |  | (41,978 | )
Bank owned life insurance income |  |  | (281 | ) |  |  | (271 | ) |  |  | (238 | )
Amortization of subordinated debt issuance costs |  |  | 437 |  |  |  | 437 |  |  |  | 437 |
Discount on repurchase of subordinated debt |  |  | - |  |  |  | - |  |  |  | (106 | )
Net change in other assets and other liabilities |  |  | (3,998 | ) |  |  | (4,930 | ) |  |  | (8,376 | )
Net cash provided by operating activities |  | $ | 87,533 |  |  | $ | 105,309 |  |  | $ | 107,176 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by acquisitions |  | $ | - |  |  | $ | 3,542 |  |  | $ | - |
Net cash provided by investing activities |  | $ | - |  |  | $ | 3,542 |  |  | $ | - |
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of subordinated debt |  | $ | - |  |  | $ | - |  |  | $ | (2,000 | )
Proceeds from the issuance of shares to employee and other stock plans |  |  | 61 |  |  |  | 91 |  |  |  | - |
Cash paid by employer for tax-withholding on stock issuance |  |  | (1,993 | ) |  |  | (1,877 | ) |  |  | (1,751 | )
Purchases of treasury shares |  |  | (251 | ) |  |  | (4,944 | ) |  |  | (14,713 | )
Cash dividends |  |  | (62,263 | ) |  |  | (55,886 | ) |  |  | (49,765 | )
Net cash (used in) financing activities |  | $ | (64,446 | ) |  | $ | (62,616 | ) |  | $ | (68,229 | )
Net increase in cash and cash equivalents |  | $ | 23,087 |  |  | $ | 46,235 |  |  | $ | 38,947 |
Cash and cash equivalents at beginning of year |  |  | 162,364 |  |  |  | 116,129 |  |  |  | 77,182 |
Cash and cash equivalents at end of year |  | $ | 185,451 |  |  | $ | 162,364 |  |  | $ | 116,129 |

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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/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
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