PARENT COMPANY FINANCIALS ONLY (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheets

BALANCE SHEETS

	December 31
	2024		2023
	(Dollars in thousands)
Assets
Cash (1)	$	110,097	$	108,788
Investments in subsidiaries (2)	2,967,786		2,922,698
Prepaid income taxes	2,309		2,488
Deferred tax asset	430		429
Total assets	$	3,080,622	$	3,034,403
Liabilities and stockholders’ equity
Dividends payable	$	24,225	$	23,580
Junior subordinated debentures (less unamortized debt issuance costs of $28 and $30)	62,860		62,858
Subordinated debentures (less unamortized debt issuance costs of $20)	—		49,980
Other liabilities	417		2,734
Total liabilities	87,502		139,152
Stockholders’ equity	2,993,120		2,895,251
Total liabilities and stockholders’ equity	$	3,080,622	$	3,034,403

(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
	2024		2023		2022
	(Dollars in thousands)
Income
Dividends received from subsidiaries (1)	$	183,961	$	229,046	$	209,257
Total income	183,961		229,046		209,257
Expenses
Interest expense	5,014		6,829		4,626
Other expenses	2,891		3,156		1,680
Total expenses	7,905		9,985		6,306
Income before income taxes and equity in undistributed income of subsidiaries	176,056		219,061		202,951
Income tax benefit	(2,280)		(2,785)		(1,731)
Income of parent company	178,336		221,846		204,682
Equity in undistributed income of subsidiaries	13,745		17,656		59,131
Net income	$	192,081	$	239,502	$	263,813

(1)Majority of balance eliminated in consolidation.

Schedule of Condensed Statements of Cash Flows

STATEMENTS OF CASH FLOWS

	Years Ended December 31
	2024		2023		2022
	(Dollars in thousands)
Cash flows from operating activities
Net income	$	192,081	$	239,502	$	263,813
Adjustments to reconcile net income to cash provided by operating activities
Amortization	22		98		96
Deferred income tax (benefit) expense	(1)		24		28
Change in prepaid income taxes and other assets	179		2,107		(623)
Change in other liabilities	(2,560)		52		143
Equity in undistributed income of subsidiaries	(13,745)		(17,656)		(59,131)
Net cash provided by operating activities	175,976		224,127		204,326
Cash flows used in financing activities
Repayments of long-term debt, net of issuance costs	—		—		(14,063)
Repayments of subordinated debentures, net of issuance costs	(50,000)		—		—
Restricted stock awards issued, net of awards surrendered	(815)		(1,142)		(1,084)
Net proceeds from exercise of stock options	80		80		—
Proceeds from shares issued under direct stock purchase plan	3,254		2,662		2,359
Payments for shares repurchased under share repurchase programs	(30,986)		(188,910)		(139,946)
Common dividends paid	(96,200)		(98,006)		(93,734)
Net cash used in financing activities	(174,667)		(285,316)		(246,468)
Net increase (decrease) in cash and cash equivalents	1,309		(61,189)		(42,142)
Cash and cash equivalents at the beginning of the year	108,788		169,977		212,119
Cash and cash equivalents at the end of the year	$	110,097	$	108,788	$	169,977