PARENT COMPANY FINANCIALS ONLY (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheets

BALANCE SHEETS

	December 31
	2023		2022
	(Dollars in thousands)
Assets
Cash (1)	$	108,788	$	169,977
Investments in subsidiaries (2)	2,922,698		2,850,407
Prepaid income taxes	2,488		2,299
Deferred tax asset	429		453
Other assets (2)	—		2,297
Total assets	$	3,034,403	$	3,025,433
Liabilities and stockholders’ equity
Dividends payable	$	23,580	$	25,103
Junior subordinated debentures (less unamortized debt issuance costs of $30 and $33)	62,858		62,855
Subordinated debentures (less unamortized debt issuance costs of $20 and $115)	49,980		49,885
Other liabilities	2,734		889
Total liabilities	139,152		138,732
Stockholders’ equity	2,895,251		2,886,701
Total liabilities and stockholders’ equity	$	3,034,403	$	3,025,433

(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
	2023		2022		2021
	(Dollars in thousands)
Income
Dividends received from subsidiaries (1)	$	229,046	$	209,257	$	77,673
Total income	229,046		209,257		77,673
Expenses
Interest expense	6,829		4,626		4,493
Other expenses	3,156		1,680		—
Total expenses	9,985		6,306		4,493
Income before income taxes and equity in undistributed income of subsidiaries	219,061		202,951		73,180
Income tax benefit	(2,785)		(1,731)		(1,241)
Income of parent company	221,846		204,682		74,421
Equity in undistributed income of subsidiaries	17,656		59,131		46,571
Net income	$	239,502	$	263,813	$	120,992

(1)Majority of balance eliminated in consolidation.

Schedule of Condensed Statements of Cash Flows

STATEMENTS OF CASH FLOWS

	Years Ended December 31
	2023		2022		2021
	(Dollars in thousands)
Cash flows from operating activities
Net income	$	239,502	$	263,813	$	120,992
Adjustments to reconcile net income to cash provided by operating activities
Amortization	98		96		137
Deferred income tax expense	24		28		12
Change in prepaid income taxes and other assets	2,107		(623)		(229)
Change in other liabilities	52		143		(1,873)
Equity in undistributed income of subsidiaries	(17,656)		(59,131)		(46,571)
Net cash provided by operating activities	224,127		204,326		72,468
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)
Restricted stock awards issued, net of awards surrendered	(1,142)		(1,084)		(1,249)
Net proceeds from exercise of stock options	80		—		(57)
Proceeds from shares issued under direct stock purchase plan	2,662		2,359		2,023
Payments for shares repurchased under share repurchase programs	(188,910)		(139,946)		—
Common dividends paid	(98,006)		(93,734)		(62,736)
Net cash used in financing activities	(285,316)		(246,468)		(80,769)
Net (decrease) increase in cash and cash equivalents	(61,189)		(42,142)		111,515
Cash and cash equivalents at the beginning of the year	169,977		212,119		100,604
Cash and cash equivalents at the end of the year	$	108,788	$	169,977	$	212,119