Condensed Financial Information - Parent Company

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015

	2016			2015
ASSETS
Cash in subsidiary bank	$	15,070		$	12,311
Cash in unaffiliated banks		2			2
Interest-bearing deposits in subsidiary bank		78,179			78,160
Total cash and cash equivalents		93,251			90,473
Securities available-for-sale, at fair value		11,593			12,062
Investment in and advances to subsidiaries, at equity		744,971			713,909
Intangible assets		723			723
Other assets		2,668			3,693
Total assets	$	853,206		$	820,860
LIABILITIES AND SHAREHOLDERS’ EQUITY
Total liabilities	$	15,321		$	15,874
Shareholders’ equity:
Common stock		661			660
Capital surplus		372,245			368,925
Retained earnings		446,534			388,006
Treasury stock		(6,671	)		(6,296	)
Deferred compensation		6,671			6,296
Accumulated other comprehensive earnings		18,445			47,395
Total shareholders’ equity		837,885			804,986
Total liabilities and shareholders’ equity	$	853,206		$	820,860

Condensed Statements of Earnings-

For the Years Ended December 31, 2016, 2015 and 2014

	2016		2015		2014
Income:
Cash dividends from subsidiaries	$	48,800	$	51,200	$	34,000
Excess of earnings over dividends of subsidiaries		58,809		52,911		58,539
Other		4,184		4,185		3,717
Total Income		111,793		108,296		96,256
Expenses:
Salaries and employee benefits		5,655		6,067		5,595
Other operating expenses		3,531		4,439		3,309
Total Expense		9,186		10,506		8,904
Earnings before income taxes		102,607		97,790		87,352
Income tax benefit		2,167		2,591		2,207
Net earnings	$	104,774	$	100,381	$	89,559

Condensed Statements of Cash Flows-

For the Years Ended December 31, 2016, 2015, and 2014

	2016			2015			2014
Cash flows from operating activities:
Net earnings	$	104,774		$	100,381		$	89,559
Adjustments to reconcile net earnings to net cash provided by operating activities:
Excess of earnings over dividends of subsidiary bank		(58,809	)		(52,911	)		(58,539	)
Depreciation and amortization, net		208			197			200
Decrease (increase) in other assets		1,702			507			(150	)
Increase (decrease) in other liabilities		(1,374	)		3,743			(314	)
Other		8			—			—
Net cash provided by operating activities		46,509			51,917			30,756
Cash flows from investing activities:
Cash received (paid) in connection with acquisition of banks		—			13,125			—
Net decrease in interest-bearing time deposits in unaffiliated banks		—			—			480
Purchases of bank premises and equipment		(94	)		(107	)		(780	)
Repayment from (of advances to) investment in and advances to subsidiaries, net		—			5,800			(3,300	)
Other		10			—			—
Net cash used in (provided by) investing activities		(84	)		18,818			(3,600	)
Cash flows from financing activities:
Repayment of subordinated debt		—			(13,125	)		—
Proceeds of stock issuances		1,260			1,545			1,437
Cash dividends paid		(44,907	)		(38,767	)		(34,578	)
Net cash used in financing activities		(43,647	)		(50,347	)		(33,141	)
Net increase (decrease) in cash and cash equivalents		2,778			20,388			(5,985	)
Cash and cash equivalents, beginning of year		90,473			70,085			76,070
Cash and cash equivalents, end of year	$	93,251		$	90,473		$	70,085