CONDENSED PARENT COMPANY INFORMATION

12 Months Ended

Dec. 31, 2016

CONDENSED PARENT COMPANY INFORMATION [Abstract]

CONDENSED PARENT COMPANY INFORMATION

(24) CONDENSED PARENT COMPANY INFORMATION

The following condensed financial information reflects the accounts and transactions of the Company (excluding its subsidiaries) at the dates and for the years indicated:

Condensed Balance Sheets	December 31,
	2016	2015
Assets:	(In thousands)
Cash on deposit with subsidiary bank	$        166,593	$          86,767
Investment in subsidiaries	1,567,834	1,623,640
Other assets	4,846	11,237
Total assets	$     1,739,273	$     1,721,644
Liabilities and shareholders' equity:
Total liabilities	$          15,390	$          66,200
Shareholders' equity	1,723,883	1,655,444
Total liabilities and shareholders' equity	$     1,739,273	$     1,721,644

	Year Ended December 31,
Condensed Statements of Income	2016	2015	2014
	(In thousands)
Dividends from subsidiaries	$        192,000	$        100,000	$          60,000
Other operating income (loss)	(404)	1,075	585
Total income	191,596	101,075	60,585
Operating expenses	7,547	8,419	6,867
Income before tax benefit and equity in undistributed earnings	184,049	92,656	53,718
Income tax benefit	3,051	2,818	2,420
Income before equity in undistributed earnings
of subsidiaries	187,100	95,474	56,138
Equity in undistributed earnings of subsidiaries	(54,372)	32,017	60,612
Net income	$        132,728	$        127,491	$        116,750

	Year Ended December 31,
Condensed Statements of Cash Flows	2016	2015	2014
	(In thousands)
Operating activities:
Net income	$        132,728	$        127,491	$        116,750
Adjustments to reconcile net income
to net cash provided by (used in) operating activities	60,882	(32,255)	(61,862)
Net cash provided by operating activities	193,610	95,236	54,888
Financing activities:
Cash dividends	(42,310)	(33,368)	(23,983)
Redemption of junior subordinated debt	(10,310)	-	(8,248)
Advance of long-term debt	-	-	8,000
Repayment of long-term debt	(39,775)	(8,373)	(8,066)
Common stock transactions, net	(21,389)	(59,998)	13,928
Net cash used in financing activities	(113,784)	(101,739)	(18,369)
Increase (decrease) in cash and cash equivalents	79,826	(6,503)	36,519
Cash and cash equivalents at beginning of year	86,767	93,270	56,751
Cash and cash equivalents at end of year	$        166,593	$          86,767	$          93,270