Condensed Financial Information - Parent Company

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information - Parent Company

16. CONDENSED FINANCIAL INFORMATION - PARENT COMPANY:

Condensed Balance Sheets-December 31, 2014 and 2013

	2014			2013
ASSETS
Cash in subsidiary bank	$	9,441		$	11,960
Cash in unaffiliated banks		2			2
Interest-bearing deposits in subsidiary bank		60,642			64,108
Total cash and cash equivalents		70,085			76,070
Interest-bearing time deposits in unaffiliated banks		—			480
Securities available-for-sale, at fair value		12,243			11,701
Investment in and advances to subsidiaries, at equity		606,415			507,074
Intangible assets		723			723
Other assets		2,787			2,054
Total assets	$	692,253		$	598,102
LIABILITIES AND SHAREHOLDERS’ EQUITY
Total liabilities	$	10,716		$	10,455
Shareholders’ equity:
Common stock		641			320
Capital surplus		305,429			302,991
Retained earnings		327,978			273,972
Treasury shares		(5,878	)		(5,490	)
Deferred compensation		5,878			5,490
Accumulated other comprehensive earnings		47,489			10,364
Total shareholders’ equity		681,537			587,647
Total liabilities and shareholders’ equity	$	692,253		$	598,102

Condensed Statements of Earnings-

For the Years Ended December 31, 2014, 2013 and 2012

	2014		2013		2012
Income:
Cash dividends from subsidiaries	$	34,000	$	64,200	$	58,400
Excess of earnings over dividends of subsidiaries		58,539		17,192		17,547
Other		3,717		3,118		2,682
		96,256		84,510		78,629
Expenses:
Salaries and employee benefits		5,595		4,540		3,668
Other operating expenses		3,309		3,017		2,338
		8,904		7,557		6,006
Earnings before income taxes		87,352		76,953		72,623
Income tax benefit		2,207		1,915		1,602
Net earnings	$	89,559	$	78,868	$	74,225

Condensed Statements of Cash Flows-

For the Years Ended December 31, 2014, 2013, and 2012

	2014			2013			2012
Cash flows from operating activities:
Net earnings	$	89,559		$	78,868		$	74,225
Adjustments to reconcile net earnings to net cash provided by operating activities:
Excess of earnings over dividends of subsidiary bank		(58,539	)		(17,192	)		(17,547	)
Depreciation and amortization, net		200			135			142
Decrease (increase) in other assets		(150	)		(3	)		34
Increase (decrease) in other liabilities		(314	)		890			(918	)
Net cash provided by operating activities		30,756			62,698			55,936
Cash flows from investing activities:
Acquisition of bank		—			(39,200	)		—
Net decrease (increase) in interest-bearing time deposits in unaffiliated banks		480			2,598			(960	)
Maturities of available-for-sale securities		—			—			5,430
Purchases of bank premises and equipment		(780	)		(224	)		(86	)
Repayment from (of advances to) investment in and advances to subsidiaries, net		(3,300	)		700			(400	)
Net cash used in (provided by) investing activities		(3,600	)		(36,126	)		3,984
Cash flows from financing activities:
Proceeds of stock issuances		1,437			1,958			824
Cash dividends paid		(34,578	)		(24,505	)		(38,719	)
Net cash used in financing activities		(33,141	)		(22,547	)		(37,895	)
Net increase (decrease) in cash and cash equivalents		(5,985	)		4,025			22,025
Cash and cash equivalents, beginning of year		76,070			72,045			50,020
Cash and cash equivalents, end of year	$	70,085		$	76,070		$	72,045