XML 44 R28.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Parent Company Only Condensed Financial Statements | 12 Months Ended
--- | ---
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Condensed Financial Statements | PARENT COMPANY ONLY CONDENSED FINANCIAL STATEMENTS Condensed Balance Sheets
| December 31,
($ in thousands) | 2023 |  | 2022
Assets |  |  |
Cash | $ | 100,418 |  |  | $ | 99,018 |
Investment in Bank | 1,748,260 |  |  | 1,553,657 |
Investment in nonbank subsidiaries | 11,267 |  |  | 16,476 |
Other assets | 27,701 |  |  | 30,312 |
Total assets | $ | 1,887,646 |  |  | $ | 1,699,463 |
Liabilities and Shareholders’ Equity |  |  |
Subordinated debentures and notes | $ | 155,984 |  |  | $ | 155,433 |
Notes payable | 11,429 |  |  | 17,143 |
Accounts payable and other liabilities | 4,165 |  |  | 4,624 |
Shareholders' equity | 1,716,068 |  |  | 1,522,263 |
Total liabilities and shareholders' equity | $ | 1,887,646 |  |  | $ | 1,699,463 |
Condensed Statements of Income
| Year ended December 31,
($ in thousands) | 2023 |  | 2022 |  | 2021
Income: |  |  |  |  |
Dividends from Bank | $ | 45,000 |  |  | $ | 75,000 |  |  | $ | 95,000 |
Dividends from nonbank subsidiaries | 4,875 |  |  | 1,700 |  |  | 2,000 |
Other | 7,736 |  |  | 1,086 |  |  | 3,600 |
Total income | 57,611 |  |  | 77,786 |  |  | 100,600 |
Expenses: |  |  |  |  |
Interest expense | 10,856 |  |  | 9,825 |  |  | 11,406 |
Other expenses | 8,774 |  |  | 8,580 |  |  | 11,037 |
Total expenses | 19,630 |  |  | 18,405 |  |  | 22,443 |
Income before taxes and equity in undistributed earnings of subsidiaries | 37,981 |  |  | 59,381 |  |  | 78,157 |
Income tax benefit | 2,520 |  |  | 3,585 |  |  | 3,710 |
Net income before equity in undistributed earnings of subsidiaries | 40,501 |  |  | 62,966 |  |  | 81,867 |
Equity in undistributed earnings of subsidiaries | 153,558 |  |  | 140,077 |  |  | 51,188 |
Net income | $ | 194,059 |  |  | $ | 203,043 |  |  | $ | 133,055 |
Condensed Statements of Cash Flows
| Year ended December 31,
($ in thousands) | 2023 |  | 2022 |  | 2021
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 194,059 |  |  | $ | 203,043 |  |  | $ | 133,055 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Share-based compensation | 4,439 |  |  | 8,006 |  |  | 6,017 |
Net income of subsidiaries | (203,433) |  |  | (216,777) |  |  | (148,188) |
Dividends from subsidiaries | 49,875 |  |  | 76,700 |  |  | 97,000 |
Other, net | (421) |  |  | 6,102 |  |  | (16) |
Net cash provided by operating activities | 44,519 |  |  | 77,074 |  |  | 87,868 |
Cash flows from investing activities: |  |  |  |  |
Proceeds from acquisitions, net of cash acquired | — |  |  | — |  |  | 2,346 |
Purchases of other investments | (1,002) |  |  | (2,187) |  |  | (2,204) |
Proceeds from distributions on other investments | 3,314 |  |  | 3,878 |  |  | 2,656 |
Net cash provided by investing activities | 2,312 |  |  | 1,691 |  |  | 2,798 |
Cash flows from financing activities: |  |  |  |  |
Payments for the redemption of subordinated notes | — |  |  | — |  |  | (50,000) |
Repayment of long-term debt | (5,714) |  |  | (5,714) |  |  | (7,143) |
Dividends paid on common stock | (37,368) |  |  | (33,602) |  |  | (26,153) |
Payments for the repurchase of common stock | — |  |  | (32,923) |  |  | (60,589) |
Proceeds from issuance of preferred stock | — |  |  | — |  |  | 71,988 |
Dividends paid on preferred stock | (3,750) |  |  | (4,041) |  |  | — |
Other | 1,401 |  |  | 1,773 |  |  | 516 |
Net cash used in financing activities | (45,431) |  |  | (74,507) |  |  | (71,381) |
Net increase in cash and cash equivalents | 1,400 |  |  | 4,258 |  |  | 19,285 |
Cash and cash equivalents, beginning of year | 99,018 |  |  | 94,760 |  |  | 75,475 |
Cash and cash equivalents, end of year | $ | 100,418 |  |  | $ | 99,018 |  |  | $ | 94,760 |
Supplemental disclosures of cash flow information: |  |  |  |  |
Noncash transactions: |  |  |  |  |
Common shares issued in connection with acquisitions | $ | — |  |  | $ | — |  |  | $ | 343,650 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: 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
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration