Parent Company Financial Statements

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Statements

PARENT COMPANY FINANCIAL STATEMENTS

Parent Company
Condensed Balance Sheets
(Dollars in thousands)	December 31, 2015		December 31, 2014
Assets
Cash	$	26,285	$	24,026
Investment securities available for sale	21,137		110,644
Investment in banking subsidiaries	2,874,581		2,750,201
Investment in other subsidiaries	43,117		65,665
Due from subsidiaries	—		295,994
Other assets	73,944		74,157
Total assets	$	3,039,064	$	3,320,687
Liabilities and Shareholders' Equity
Short-term borrowings	$	—	$	485,207
Long-term obligations	133,775		136,717
Due to subsidiaries	29,682		—
Other liabilities	3,498		11,169
Shareholders' equity	2,872,109		2,687,594
Total liabilities and shareholders' equity	$	3,039,064	$	3,320,687

Parent Company
Condensed Income Statements
	Year ended December 31
(Dollars in thousands)	2015			2014			2013
Interest income	$	645		$	1,784		$	1,387
Interest expense	6,793			9,694			7,065
Net interest loss	(6,148		)	(7,910		)	(5,678		)
Dividends from banking subsidiaries	75,006			82,419			131,006
Dividends from other subsidiaries	23,500			—			—
Other income	1,870			33,600			3,620
Other operating expense	2,634			6,534			2,344
Income before income tax benefit and equity in undistributed net income of subsidiaries	91,594			101,575			126,604
Income tax benefit	(2,618		)	(2,590		)	(2,095		)
Income before equity in undistributed net income of subsidiaries	94,212			104,165			128,699
Equity in undistributed net income of subsidiaries	116,174			34,397			38,170
Net income	$	210,386		$	138,562		$	166,869

Parent Company
Condensed Statements of Cash Flows
	Year ended December 31
(Dollars in thousands)	2015			2014			2013
OPERATING ACTIVITIES
Net income	$	210,386		$	138,562		$	166,869
Adjustments
Undistributed net income of subsidiaries	(116,174		)	(34,397		)	(38,170		)
Net amortization of premiums and discounts	(2,712		)	594			334
Securities gains	(236		)	(29,126		)	—
Gain on elimination of acquired debt	—			(1,988		)	—
Gain on sale of other assets	—			—			(1,331		)
Change in other assets	(3,070		)	93,385			(61,704		)
Change in other liabilities	(1,157		)	2,250			(2,096		)
Net cash provided by operating activities	87,037			169,280			63,902
INVESTING ACTIVITIES
Net change in due from subsidiaries	295,994			(150,328		)	(67,154		)
Purchases of investment securities	(7,818		)	(33,243		)	(126,197		)
Proceeds from sales, calls, and maturities of securities	100,586			114,208			135,000
Investment in subsidiaries	—			1,579			1,489
Business acquisitions, net of cash acquired	—			(24,772		)	—
Net cash provided (used) by investing activities	388,762			(92,556		)	(56,862		)
FINANCING ACTIVITIES
Net change in due to subsidiaries	29,682			—			—
Net change in short-term borrowings	(485,207		)	(1,211		)	12,860
Retirement of long-term obligations	—			(52,372		)	—
Stock issuance costs	—			(619		)	—
Repurchase of common stock	—			—			(321		)
Cash dividends paid	(18,015		)	(11,543		)	(8,663		)
Net cash (used) provided by financing activities	(473,540		)	(65,745		)	3,876
Net change in cash	2,259			10,979			10,916
Cash balance at beginning of year	24,026			13,047			2,131
Cash balance at end of year	$	26,285		$	24,026		$	13,047