PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Statements of Condition

Statement of Condition
			December 31,
(In thousands)			2019		2018
Assets
	Cash and cash equivalents		$	90,361	$	23,334
	Investments available-for-sale (at fair value)			10,430		10,118
	Investment in subsidiary			1,242,229		1,066,550
	Goodwill			1,292		1,292
	Other assets			1,480		4,463
Total assets			$	1,345,792	$	1,105,757
Liabilities
	Subordinated debentures		$	209,406	$	37,425
	Accrued expenses and other liabilities			3,412		429
		Total liabilities		212,818		37,854
Stockholders’ Equity
	Common stock			34,970		35,531
	Additional paid in capital			586,622		606,573
	Retained earnings			515,714		441,553
	Accumulated other comprehensive loss			(4,332)		(15,754)
		Total stockholders’ equity		1,132,974		1,067,903
Total liabilities and stockholders’ equity			$	1,345,792	$	1,105,757

Statements of Income/(Loss)

Statements of Income
			Year Ended December 31,
(In thousands)			2019		2018		2017
Income:
	Cash dividends from subsidiary		$	42,625	$	39,370	$	25,420
	Other income			1,093		897		1,832
		Total income		43,718		40,267		27,252
Expenses:
	Interest			3,141		1,922		12
	Other expenses			1,507		1,135		970
		Total expenses		4,648		3,057		982
Income before income taxes and equity in undistributed income of subsidiary				39,070		37,210		26,270
Income tax expense (benefit)				(734)		(283)		331
		Income before equity in undistributed income of subsidiary		39,804		37,493		25,939
Equity in undistributed income of subsidiary				76,629		63,371		27,270
	Net income		$	116,433	$	100,864	$	53,209

Statements of Cash Flows

Statements of Cash Flows
			Year Ended December 31,
(In thousands)			2019		2018		2017
Cash Flows from Operating Activities:
Net income			$	116,433	$	100,864	$	53,209
Adjustments to reconcile net income to net cash provided by operating activities:
	Equity in undistributed income-subsidiary			(76,629)		(63,371)		(27,270)
	Decrease in receivable from subsidiary bank			-		-		30,000
	Share based compensation expense			3,042		2,645		2,164
	Tax benefit from stock options exercised			7		8		-
	Other-net			-		(3,252)		(4,028)
		Net cash provided by operating activities		42,853		36,894		54,075
Cash Flows from Investing Activities:
	Proceeds from investment available-for-sale			-		-		3,179
	Investment in subsidiary			(85,000)		-		-
	Acquisition of business activity, net of cash paid			-		11,845		-
		Net cash provided/ (used) by investing activities		(85,000)		11,845		3,179
Cash Flows from Financing Activities:
	Retirement of subordinated debt			-		-		(30,000)
	Proceeds from issuance of subordinated debt			175,000		-		-
	Proceeds from issuance of common stock			1,433		1,395		1,200
	Stock tendered for payment of withholding taxes			(703)		(760)		(952)
	Repurchase of common stock			(24,284)		-		-
	Dividends paid			(42,272)		(39,277)		(25,134)
		Net cash provided/ (used) by financing activities		109,174		(38,642)		(54,886)
Net increase in cash and cash equivalents				67,027		10,097		2,368
Cash and cash equivalents at beginning of year				23,334		13,237		10,869
Cash and cash equivalents at end of year			$	90,361	$	23,334	$	13,237