PARENT COMPANY FINANCIALS ONLY (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheets

BALANCE SHEETS

	December 31
	2022		2021
	(Dollars in thousands)
Assets
Cash (1)	$	169,977	$	212,119
Investments in subsidiaries (2)	2,850,407		2,952,089
Prepaid income taxes	2,299		3,973
Deferred tax asset	453		472
Other assets (2)	2,297		—
Total assets	$	3,025,433	$	3,168,653
Liabilities and stockholders’ equity
Dividends payable	$	25,103	$	22,728
Long-term borrowings	—		14,063
Junior subordinated debentures (less unamortized debt issuance costs of $33 and $35)	62,855		62,853
Subordinated debentures (less unamortized debt issuance costs of $115 and $209)	49,885		49,791
Other liabilities	889		769
Total liabilities	138,732		150,204
Stockholders’ equity	2,886,701		3,018,449
Total liabilities and stockholders’ equity	$	3,025,433	$	3,168,653

(1)Entire balance eliminates in consolidation.

(2)Majority of balance eliminates in consolidation

Schedule of Condensed Statements of Income

STATEMENTS OF INCOME

	Years Ended December 31
	2022		2021		2020
	(Dollars in thousands)
Income
Dividends received from subsidiaries (1)	$	209,257	$	77,673	$	166,033
Total income	209,257		77,673		166,033
Expenses
Interest expense	4,626		4,493		5,432
Other expenses	1,680		—		—
Total expenses	6,306		4,493		5,432
Income before income taxes and equity in undistributed income of subsidiaries	202,951		73,180		160,601
Income tax benefit	(1,731)		(1,241)		(1,499)
Income of parent company	204,682		74,421		162,100
Equity (deficit) in undistributed income of subsidiaries	59,131		46,571		(40,933)
Net income	$	263,813	$	120,992	$	121,167

(1)Majority of balance eliminates in consolidation.

Schedule of Condensed Statements of Cash Flows

STATEMENTS OF CASH FLOWS

	Years Ended December 31
	2022		2021		2020
	(Dollars in thousands)
Cash flows from operating activities
Net income	$	263,813	$	120,992	$	121,167
Adjustments to reconcile net income to cash provided by operating activities
Amortization	96		137		152
Deferred income tax expense	28		12		284
Change in prepaid income taxes and other assets	(623)		(229)		(475)
Change in other liabilities	143		(1,873)		(169)
(Equity) deficit in undistributed income of subsidiaries	(59,131)		(46,571)		40,933
Net cash provided by operating activities	204,326		72,468		161,892
Cash flows provided by investing activities
Net cash acquired in business combinations	—		119,816		—
Net cash provided by in investing activities	—		119,816		—
Cash flows used in financing activities
Repayments of long-term debt, net of issuance costs	(14,063)		(18,750)		(42,187)
Restricted stock awards issued, net of awards surrendered	(1,084)		(1,249)		(1,187)
Net proceeds from exercise of stock options	—		(57)		197
Proceeds from shares issued under the direct stock purchase plan	2,359		2,023		2,132
Payments for shares repurchased under share repurchase program	(139,946)		—		(95,091)
Common dividends paid	(93,734)		(62,736)		(60,840)
Net cash used in financing activities	(246,468)		(80,769)		(196,976)
Net (decrease) increase in cash and cash equivalents	(42,142)		111,515		(35,084)
Cash and cash equivalents at the beginning of the year	212,119		100,604		135,688
Cash and cash equivalents at the end of the year	$	169,977	$	212,119	$	100,604