Parent Holding Company Information (Condensed)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Parent Holding Company Information (Condensed)

Parent Holding Company Information (Condensed)

The following condensed financial information was the unconsolidated information for the parent holding company:

Condensed Statements of Financial Condition

(Dollars in thousands)	December 31, 2021		December 31, 2020
Assets
Cash on hand and in banks	$	27,945	41,451
Interest bearing cash deposits	91,361		43,975
Cash and cash equivalents	119,306		85,426
Other assets	22,218		11,823
Investment in subsidiaries	3,188,210		2,369,040
Total assets	$	3,329,734	2,466,289
Liabilities and Stockholders’ Equity
Dividends payable	$	11,520	14,717
Subordinated debentures	132,620		139,959
Other liabilities	7,972		4,572
Total liabilities	152,112		159,248
Common stock	1,107		954
Paid-in capital	2,338,814		1,495,053
Retained earnings	810,342		667,944
Accumulated other comprehensive income	27,359		143,090
Total stockholders’ equity	3,177,622		2,307,041
Total liabilities and stockholders’ equity	$	3,329,734	2,466,289

Condensed Statements of Operations and Comprehensive Income

	Years ended
(Dollars in thousands)	December 31, 2021		December 31, 2020	December 31, 2019
Income
Dividends from subsidiaries	$	207,000	188,000	142,000
Intercompany charges for services	2,654		2,332	20,661
Other income	500		954	513
Total income	210,154		191,286	163,174
Expenses
Compensation and employee benefits	6,516		5,646	25,806
Other operating expenses	13,624		10,051	15,118
Total expenses	20,140		15,697	40,924
Income before income tax benefit and equity in undistributed net income of subsidiaries	190,014		175,589	122,250
Income tax benefit	3,407		3,108	4,488
Income before equity in undistributed net income of subsidiaries	193,421		178,697	126,738
Equity in undistributed net income of subsidiaries	91,336		87,703	83,806
Net Income	$	284,757	266,400	210,544
Comprehensive Income	$	169,026	369,264	260,197

Condensed Statements of Cash Flows

	Years ended
(Dollars in thousands)	December 31, 2021		December 31, 2020	December 31, 2019
Operating Activities
Net income	$	284,757	266,400	210,544
Adjustments to reconcile net income to net cash provided by operating activities:
Subsidiary income in excess of dividends distributed	(91,336)		(87,703)	(83,806)
Stock-based compensation, net of tax benefits	1,628		1,216	1,320
Net change in other assets and other liabilities	(7,245)		(7,222)	1,854
Net cash provided by operating activities	187,804		172,691	129,912
Investing Activities
Net additions of premises and equipment	(13)		(111)	(114)
Proceeds from sale of marketable equity securities	186		—	89
Equity received from (contributed to) subsidiaries	248		(13,638)	(13,485)
Net cash provided by (used in) investing activities	421		(13,749)	(13,510)
Financing Activities
Net decrease in other borrowed funds	(7,500)		—	—
Cash dividends paid	(145,557)		(131,263)	(124,468)
Tax withholding payments for stock-based compensation	(1,553)		(1,082)	(1,293)
Proceeds from stock option exercises	265		993	2,896
Net cash used in financing activities	(154,345)		(131,352)	(122,865)
Net increase (decrease) in cash, cash equivalents and restricted cash	33,880		27,590	(6,463)
Cash, cash equivalents and restricted cash at beginning of period	85,426		57,836	64,299
Cash, cash equivalents and restricted cash at end of period	$	119,306	85,426	57,836