Parent Company Only Condensed Financial Statements (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet Of Parent Company Only Disclosure

Condensed Balance Sheets


	December 31,
($ in thousands)	2022		2021
Assets
Cash	$	99,018	$	94,760
Investment in Bank	1,553,657		1,568,796
Investment in nonbank subsidiaries	16,476		14,302
Other assets	30,312		33,847
Total assets	$	1,699,463	$	1,711,705

Liabilities and Shareholders’ Equity
Subordinated debentures and notes	$	155,433	$	154,899
Notes payable	17,143		22,857
Accounts payable and other liabilities	4,624		4,833
Shareholders' equity	1,522,263		1,529,116
Total liabilities and shareholders' equity	$	1,699,463	$	1,711,705

Condensed Income Statement Of Parent Company Only Disclosure

Condensed Statements of Income


	Year ended December 31,
($ in thousands)	2022		2021		2020
Income:
Dividends from Bank	$	75,000	$	95,000	$	37,000
Dividends from nonbank subsidiaries	1,700		2,000		1,400
Other	1,086		3,600		483
Total income	77,786		100,600		38,883

Expenses:
Interest expense	9,825		11,406		10,590

Other expenses	8,580		11,037		6,946
Total expenses	18,405		22,443		17,536

Income before taxes and equity in undistributed earnings of subsidiaries	59,381		78,157		21,347

Income tax benefit	3,585		3,710		3,448

Net income before equity in undistributed earnings of subsidiaries	62,966		81,867		24,795

Equity in undistributed earnings of subsidiaries	140,077		51,188		49,589
Net income	$	203,043	$	133,055	$	74,384

Condensed Cash Flow Statment Of Parent Company Only Disclosure

Condensed Statements of Cash Flows


	Year ended December 31,
($ in thousands)	2022		2021		2020
Cash flows from operating activities:
Net income	$	203,043	$	133,055	$	74,384
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	8,006		6,017		4,178
Net income of subsidiaries	(216,777)		(148,188)		(87,989)
Dividends from subsidiaries	76,700		97,000		38,400

Other, net	6,102		(16)		3,588
Net cash provided by operating activities	77,074		87,868		32,561

Cash flows from investing activities:

Proceeds (cash paid) for acquisitions, net of cash acquired	—		2,346		(1,243)
Purchases of other investments	(2,187)		(2,204)		(1,166)

Proceeds from distributions on other investments	3,878		2,656		765

Net cash provided by (used in) investing activities	1,691		2,798		(1,644)

Cash flows from financing activities:
Proceeds from issuance of subordinated notes	—		—		61,953
Payments for the redemption of subordinated notes	—		(50,000)		—



Repayment of long-term debt	(5,714)		(7,143)		(4,286)

Dividends paid on common stock	(33,602)		(26,153)		(19,795)

Payments for the repurchase of common stock	(32,923)		(60,589)		(15,347)
Proceeds from issuance of preferred stock	—		71,988		—
Dividends paid on preferred stock	(4,041)		—		—
Other	1,773		516		78
Net cash provided by (used in) financing activities	(74,507)		(71,381)		22,603

Net increase in cash and cash equivalents	4,258		19,285		53,520
Cash and cash equivalents, beginning of year	94,760		75,475		21,955
Cash and cash equivalents, end of year	$	99,018	$	94,760	$	75,475

Supplemental disclosures of cash flow information:
Noncash transactions:
Common shares issued in connection with acquisitions	$	—	$	343,650	$	167,035