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Parents Company Financial Statements - Statements of Cash Flows (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 232,177 $ 199,759 $ 154,665
Adjustments to reconcile net income to net cash provided by operating activities      
Share-based compensation 16,047 10,507 0
ESOP expense 7,129 9,923 9,408
Net cash provided by operating activities 261,692 229,942 174,490
Investing activities      
Acquisitions, net of cash and cash equivalents acquired 0 0 (9,085)
Contributions to other equity investments (720) (788) (2,519)
Net cash provided by (used in) investing activities 2,400,265 (1,076,655) (1,985,744)
Financing activities      
Payment of subordinated debentures assumed in business combination [1] 0 0 (36,277)
Payments for shares repurchased under share repurchase plans 0 (201,618) (23,224)
Net cash (used in) provided by financing activities (2,138,386) (215,574) 988,976
Net increase (decrease) in cash, cash equivalents, and restricted cash 523,571 (1,062,287) (822,278)
Cash, cash equivalents, and restricted cash at beginning of period 169,505 1,231,792 2,054,070
Cash, cash equivalents, and restricted cash at end of period 693,076 169,505 1,231,792
Parent      
Operating activities      
Net income 232,177 199,759 154,665
Adjustments to reconcile net income to net cash provided by operating activities      
Equity in undistributed income of subsidiaries (238,917) (203,982) (150,936)
Share-based compensation 16,513 10,507 0
ESOP expense 7,129 9,923 9,408
Deferred income taxes, net 6,419 4,792 (7,157)
Other, net (4,115) (937) (388)
Net cash provided by operating activities 19,206 20,062 5,592
Investing activities      
Acquisitions, net of cash and cash equivalents acquired 0 0 (640,890)
Return of investments in subsidiary 40,000 240,000 140,000
Contributions to other equity investments (720) (788) 0
Net cash provided by (used in) investing activities 39,280 239,212 (500,890)
Financing activities      
Payment of subordinated debentures assumed in business combination 0 0 (36,277)
Payments for shares repurchased under share repurchase plans 0 (201,618) (23,224)
Dividends declared and paid to common shareholders (66,671) (65,886) (51,564)
Net cash (used in) provided by financing activities (66,671) (267,504) (111,065)
Net increase (decrease) in cash, cash equivalents, and restricted cash (8,185) (8,230) (606,363)
Cash, cash equivalents, and restricted cash at beginning of period 126,441 134,671 741,034
Cash, cash equivalents, and restricted cash at end of period $ 118,256 $ 126,441 $ 134,671
[1]
(1)The Company deposited funds into escrow prior to the Century acquisition date to pay the balance of subordinated debentures assumed in the Century acquisition which was considered to be a defeasance of the debt. Accordingly, Century recorded a payable to the Company in the amount of the escrow deposit and the Company recorded a receivable from Century in the same amount. The payable was reclassified to other assets upon acquisition and is reflected as such balance in the summary of net assets acquired. Subsequent to the closing of the acquisition and prior to December 31, 2021, the amounts placed in escrow were disbursed to the holders of the subordinated debentures resulting in a full pay-off of the outstanding balance of the debt.