XML 70 R54.htm IDEA: XBRL DOCUMENT
v3.20.4

Parent Company Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheet for Parent Company only |
(dollars in thousands) |  | December 31, 2020 |  | December 31, 2019
Assets |  |  |  |
Cash |  | $ | 29,275 |  |  | $ | 43,204 |
Investment securities available-for-sale, at fair value |  | 16,716 |  |  | 7,218 |
Investment in subsidiaries |  | 1,347,235 |  |  | 1,334,197 |
Other assets |  | 79,590 |  |  | 30,773 |
Total Assets |  | $ | 1,472,816 |  |  | $ | 1,415,392 |
Liabilities |  |  |  |
Other liabilities |  | $ | 13,847 |  |  | $ | 7,024 |
Long-term borrowings |  | 218,077 |  |  | 217,687 |
Total liabilities |  | 231,924 |  |  | 224,711 |
Shareholders’ Equity |  |  |  |
Common stock |  | 315 |  |  | 331 |
Additional paid in capital |  | 427,016 |  |  | 482,286 |
Retained earnings |  | 798,061 |  |  | 705,105 |
Accumulated other comprehensive income |  | 15,500 |  |  | 2,959 |
Total Shareholders’ Equity |  | 1,240,892 |  |  | 1,190,681 |
Total Liabilities and Shareholders’ Equity |  | $ | 1,472,816 |  |  | $ | 1,415,392 |
Schedule of Condensed Income Statement for Parent Company only |
|  | Years Ended December 31,
(dollars in thousands) |  | 2020 |  | 2019 |  | 2018
Income |  |  |  |  |  |
Other interest and dividends |  | $ | 141,982 |  |  | $ | 85,851 |  |  | $ | 678 |
Gain on sale of investment securities |  | — |  |  | — |  |  | — |
Total Income |  | $ | 141,982 |  |  | $ | 85,851 |  |  | $ | 678 |
Expenses |  |  |  |  |  |
Interest expense |  | 11,915 |  |  | 11,916 |  |  | 11,916 |
Legal and professional |  | 2,842 |  |  | 2,779 |  |  | 870 |
Directors compensation |  | 500 |  |  | 491 |  |  | 614 |
Other |  | 1,306 |  |  | 1,294 |  |  | 1,287 |
Total Expenses |  | $ | 16,563 |  |  | $ | 16,480 |  |  | $ | 14,687 |
Income (Loss) Before Income Tax (Benefit) and Equity in Undistributed Income of Subsidiaries |  | 125,419 |  |  | 69,371 |  |  | (14,009) |
Income Tax Benefit |  | (607) |  |  | (3,176) |  |  | (2,892) |
Income (Loss) Before Equity in Undistributed Income of Subsidiaries |  | 126,026 |  |  | 72,547 |  |  | (11,117) |
Equity in Undistributed Income of Subsidiaries |  | 6,191 |  |  | 70,396 |  |  | 163,393 |
Net Income |  | $ | 132,217 |  |  | $ | 142,943 |  |  | $ | 152,276 |
Schedule of Condensed Cash Flow Statement for Parent Company only |
|  | Years Ended December 31,
(dollars in thousands) |  | 2020 |  | 2019 |  | 2018
Cash Flows From Operating Activities |  |  |  |  |  |
Net Income |  | $ | 132,217 |  |  | $ | 142,943 |  |  | $ | 152,276 |
Adjustments to reconcile net income to net cash used in operating activities: Equity in undistributed income of subsidiary |  | (6,191) |  |  | (70,396) |  |  | (163,393) |
Net tax benefits from stock compensation |  | 118 |  |  | 10 |  |  | 110 |
Securities premium amortization (discount accretion), net |  | 6 |  |  | 2 |  |  | — |
Depreciation and amortization |  | 390 |  |  | — |  |  | — |
Increase in other assets |  | (48,966) |  |  | (21,447) |  |  | (2,508) |
Increase (decrease) in other liabilities |  | 6,823 |  |  | 2,460 |  |  | (61) |
Net cash provided by (used in) operating activities |  | 84,397 |  |  | 53,572 |  |  | (13,576) |
Cash Flows From Investing Activities |  |  |  |  |  |
Purchases of available-for-sale investment securities |  | (10,000) |  |  | (7,030) |  |  | — |
Proceeds from maturities of available-for-sale securities |  | 613 |  |  | — |  |  | — |
Investment in subsidiary (net) |  | — |  |  | — |  |  | 6,892 |
Net cash (used in) provided by investing activities |  | (9,387) |  |  | (7,030) |  |  | 6,892 |
Cash Flows From Financing Activities |  |  |  |  |  |
Proceeds from exercise of stock options |  | 63 |  |  | 332 |  |  | 776 |
Proceeds from employee stock purchase plan |  | 760 |  |  | 782 |  |  | 808 |
Common stock repurchased |  | (61,432) |  |  | (54,903) |  |  | — |
Cash dividends paid |  | (28,330) |  |  | (22,332) |  |  | — |
Net cash (used in) provided by financing activities |  | (88,939) |  |  | (76,121) |  |  | 1,584 |
Net (Decrease) in Cash |  | (13,929) |  |  | (29,579) |  |  | (5,100) |
Cash and Cash Equivalents at Beginning of Year |  | 43,204 |  |  | 72,783 |  |  | 77,883 |
Cash and Cash Equivalents at End of Year |  | $ | 29,275 |  |  | $ | 43,204 |  |  | $ | 72,783 |

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

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration