Condensed Financial Information - Parent Company (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

Condensed Balance Sheets -

December 31, 2024 and 2023

ASSETS	2024			2023
Cash in subsidiary bank (1)	$	58,957		$	92,905
Cash in unaffiliated banks (1)		—			2
Interest-bearing deposits in subsidiary bank (1)		35,629			50,412
Total cash and cash equivalents		94,586			143,319
Securities available-for-sale, at fair value		2,124			2,200
Investment in and advances to subsidiaries, at equity (1)		1,535,310			1,376,986
Intangible assets		723			723
Other assets		9,085			7,044
Total assets	$	1,641,828		$	1,530,272
LIABILITIES AND SHAREHOLDERS’ EQUITY
Total liabilities	$	35,268		$	31,372
Shareholders’ equity:
Common stock		1,429			1,427
Capital surplus		689,338			681,246
Retained earnings		1,340,082			1,219,525
Treasury stock		(12,905	)		(11,855	)
Deferred compensation		12,905			11,855
Accumulated other comprehensive earnings		(424,289	)		(403,298	)
Total shareholders’ equity		1,606,560			1,498,900
Total liabilities and shareholders’ equity	$	1,641,828		$	1,530,272

(1)Eliminates in consolidation.

Condensed Statements of Earnings

Condensed Statements of Earnings -

For the Years Ended December 31, 2024, 2023 and 2022

	2024		2023		2022
Income:
Cash dividends from subsidiaries (1)	$	55,500	$	133,500	$	67,500
Excess of earnings over dividends of subsidiaries (1)		177,467		72,444		174,741
Other		2,002		1,783		62
Total income		234,969		207,727		242,303
Expenses:
Salaries and employee benefits		9,314		6,129		6,541
Other operating expenses		4,791		4,521		4,106
Total expense		14,105		10,650		10,647
Earnings before income taxes		220,864		197,077		231,656
Income tax benefit		2,647		1,900		2,819
Net earnings	$	223,511	$	198,977	$	234,475

(1)Eliminates in consolidation.

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows -

For the Years Ended December 31, 2024, 2023 and 2022

	2024			2023			2022
Cash flows from operating activities:
Net earnings	$	223,511		$	198,977		$	234,475
Adjustments to reconcile net earnings to    net cash provided by operating activities:
Excess of earnings over dividends of subsidiaries		(177,467	)		(72,444	)		(174,741	)
Depreciation and amortization, net		166			116			188
Decrease in other assets		2,033			698			645
Increase (decrease) in other liabilities		3,494			(2,721	)		933
Other		—			2			—
Net cash provided by operating activities		51,737			124,628			61,500
Cash flows from investing activities:
Purchases of bank premises and equipment and software		(717	)		—			(385	)
Net cash provided by (used in) investing activities		(717	)		—			(385	)
Cash flows from financing activities:
Proceeds from stock option exercises		3,160			2,132			6,545
Cash dividends paid		(102,913	)		(99,965	)		(91,315	)
Repurchase of stock		—			(2,735	)		(9,449	)
Net cash used in financing activities		(99,753	)		(100,568	)		(94,219	)
Net increase (decrease) in cash and cash equivalents		(48,733	)		24,060			(33,104	)
Cash and cash equivalents, beginning of year		143,319			119,259			152,363
Cash and cash equivalents, end of year	$	94,586		$	143,319		$	119,259