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Parent-Only Financial Information (Tables)
 12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
Condensed Statements of Financial Condition
Condensed Statement of Financial Condition
(in thousands)
 December 31,
 20202019
Assets:
Cash and due from banks
$7,187 $5,442 
Advances to Bank101,304 27,878 
Investment securities
93,207 1,000 
ESOP loan receivable
8,071 9,271 
Investment in subsidiaries
1,502,867 1,206,479 
Other assets
10,180 327 
Total assets$1,722,816 $1,250,397 
Liabilities and Stockholders’ Equity:
Borrowings
$233,371 $94,848 
Other liabilities
5,315 2,430 
Stockholders’ equity
1,484,130 1,153,119 
Total liabilities and stockholders’ equity
$1,722,816 $1,250,397 
Condensed Statements of Operations
Condensed Statements of Operations
(in thousands)
 For the Year Ended December 31,
 202020192018
Dividend income – subsidiary Bank
$54,000 $79,000 $32,000 
Interest and dividend income – investment securities
949 63 63 
Interest income – advances to subsidiary Bank
403 426 525 
Interest income – ESOP loan receivable
301 321 321 
Net gain on equity investments20,460 — — 
Other income
— — 15 
Total income
76,113 79,810 32,924 
Interest expense – borrowings
10,592 5,402 4,997 
Operating expenses
3,382 2,686 2,397 
Income before income taxes and undistributed earnings of subsidiary Bank
62,139 71,722 25,530 
(Provision) benefit for income taxes(2,901)924 846 
Income before undistributed earnings of subsidiary Bank
59,238 72,646 26,376 
Undistributed earnings of subsidiary Bank
4,071 15,928 45,556 
Net income$63,309 $88,574 $71,932 
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
(in thousands)
 For the Year Ended December 31,
 202020192018
Cash flows from operating activities:
Net income$63,309 $88,574 $71,932 
(Increase) decrease in advances to subsidiary Bank(73,426)(13,852)15,262 
Undistributed earnings of subsidiary Bank(4,071)(15,928)(45,556)
Net gain on sales of investment securities(20,460)— — 
Amortization of deferred costs on borrowings576 261 262 
Net amortization of purchase accounting adjustments638 453 395 
Change in other assets and other liabilities648 (184)4,076 
Net cash (used in) provided by operating activities(32,786)59,324 46,371 
Cash flows from investing activities:
Proceeds from sale of investment securities15,339 — — 
Purchase of investment securities(95,228)— — 
Increase in ESOP loan receivable— — (8,400)
Repayments on ESOP loan receivable1,200 1,160 1,020 
Net cash (used in) provided by investing activities(78,689)1,160 (7,380)
Cash flows from financing activities:
Net proceeds from issuance of subordinated notes122,180 — — 
Repayment of borrowings(7,999)— — 
Dividends paid(42,917)(34,241)(29,564)
Purchase of treasury stock(14,814)(26,066)(10,837)
Net proceeds from the issuance of preferred stock55,529 — — 
Exercise of stock options1,241 1,335 5,324 
Net cash provided by (used in) financing activities113,220 (58,972)(35,077)
Net increase in cash and due from banks1,745 1,512 3,914 
Cash and due from banks at beginning of year5,442 3,930 16 
Cash and due from banks at end of year$7,187 $5,442 $3,930 
Supplemental disclosure of cash flow information:
Non-cash activities:
Unsettled trades of equity securities$8,142 $— $—