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Parent-Only Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Condition | Condensed Statement of Financial Condition (in thousands)
|  | December 31,
|  | 2018 |  | 2017
Assets: |  |  |  |
Cash and due from banks |  | $ | 3,930 |  |  | $ | 16 |
Advances to subsidiary Bank |  | 14,026 |  |  | 33,749 |
Investment securities |  | 1,000 |  |  | 1,000 |
ESOP loan receivable |  | 10,431 |  |  | 3,051 |
Investment in subsidiaries |  | 1,107,539 |  |  | 619,253 |
Other assets |  | 234 |  |  | 1,956 |
Total assets |  | $ | 1,137,160 |  |  | $ | 659,025 |
Liabilities and Stockholders’ Equity: |  |  |  |
Borrowings |  | $ | 94,134 |  |  | $ | 56,519 |
Other liabilities |  | 3,668 |  |  | 565 |
Stockholders’ equity |  | 1,039,358 |  |  | 601,941 |
Total liabilities and stockholders’ equity |  | $ | 1,137,160 |  |  | $ | 659,025 |
Condensed Statements of Operations | Condensed Statements of Operations (in thousands)
|  | For the Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Dividend income – subsidiary Bank |  | $ | 32,000 |  |  | $ | 32,000 |  |  | $ | 4,000 |
Interest and dividend income – investment securities |  | 63 |  |  | 63 |  |  | 62 |
Interest income – advances to subsidiary Bank |  | 525 |  |  | 280 |  |  | 118 |
Interest income – ESOP loan receivable |  | 321 |  |  | 321 |  |  | 322 |
Other income |  | 15 |  |  | — |  |  | — |
Total income |  | 32,924 |  |  | 32,664 |  |  | 4,502 |
Interest expense – borrowings |  | 4,997 |  |  | 2,592 |  |  | 1,049 |
Operating expenses |  | 2,397 |  |  | 1,788 |  |  | 1,697 |
Income before income taxes and undistributed earnings of subsidiary Bank |  | 25,530 |  |  | 28,284 |  |  | 1,756 |
Benefit for income taxes |  | 846 |  |  | 973 |  |  | 780 |
Income before undistributed earnings of subsidiary Bank |  | 26,376 |  |  | 29,257 |  |  | 2,536 |
Undistributed earnings of subsidiary Bank |  | 45,556 |  |  | 13,213 |  |  | 20,510 |
Net Income |  | $ | 71,932 |  |  | $ | 42,470 |  |  | $ | 23,046 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows (in thousands)
|  | For the Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 71,932 |  |  | $ | 42,470 |  |  | $ | 23,046 |
Decrease (increase) in advances to subsidiary Bank |  | 15,262 |  |  | (23,371 | ) |  | 3,838 |
Undistributed earnings of subsidiary Bank |  | (45,556 | ) |  | (13,213 | ) |  | (20,510 | )
Amortization of deferred costs on borrowings |  | 262 |  |  | 121 |  |  | — |
Net accretion of purchase accounting adjustments |  | 395 |  |  | — |  |  | — |
Change in other assets and other liabilities |  | 4,076 |  |  | 607 |  |  | (1,619 | )
Net cash provided by operating activities |  | 46,371 |  |  | 6,614 |  |  | 4,755 |
Cash flows from investing activities: |  |  |  |  |  |
Increase in ESOP loan receivable |  | (8,400 | ) |  | — |  |  | — |
Repayments on ESOP loan receivable |  | 1,020 |  |  | 234 |  |  | 218 |
Cash consideration for acquisition, net of cash received |  | — |  |  | — |  |  | (19,274 | )
Net cash (used in) provided by investing activities |  | (7,380 | ) |  | 234 |  |  | (19,056 | )
Cash flows from financing activities: |  |  |  |  |  |
Net proceeds from issuance of subordinated notes |  | — |  |  | — |  |  | 33,899 |
Dividends paid |  | (29,564 | ) |  | (19,286 | ) |  | (12,616 | )
Purchase of treasury stock |  | (10,837 | ) |  | — |  |  | (1,878 | )
Exercise of stock options |  | 5,324 |  |  | 3,354 |  |  | 3,989 |
Net cash (used in) provided by financing activities |  | (35,077 | ) |  | (15,932 | ) |  | 23,394 |
Net (decrease) increase in cash and due from banks |  | 3,914 |  |  | (9,084 | ) |  | 9,093 |
Cash and due from banks at beginning of year |  | 16 |  |  | 9,100 |  |  | 7 |
Cash and due from banks at end of year |  | $ | 3,930 |  |  | $ | 16 |  |  | $ | 9,100 |

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