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Parent Company Financial Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Parent Company Financial Information [Abstract] |
Parent Company Financial Information | 21. 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 |
A statement of changes in stockholders’ equity has not been presented since it is the same as the consolidated statement of changes in stockholders’ equity previously presented.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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