Condensed Financial Information (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

(In thousands)	2024		2023
ASSETS
Cash and cash equivalents	$	287,066	$	164,439
Investments in wholly-owned subsidiaries	3,570,446		3,603,066
Loans	—		102
Intangible assets, net	133		133
Premises and equipment	18,929		20,498
Other assets	75,707		50,642
TOTAL ASSETS	$	3,952,281	$	3,838,880
LIABILITIES
Long-term debt	$	383,720	$	385,285
Other liabilities	39,689		27,107
Total liabilities	423,409		412,392
STOCKHOLDERS’ EQUITY
Common stock	1,257		1,252
Surplus	2,511,590		2,499,930
Undivided profits	1,376,935		1,329,681
Accumulated other comprehensive loss:
Unrealized depreciation on available-for-sale securities, net of income taxes of $(127,698) and $(143,076) at December 31, 2024 and 2023, respectively	(360,910)		(404,375)
Total stockholders’ equity	3,528,872		3,426,488
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	3,952,281	$	3,838,880

Condensed Income Statement

(In thousands)	2024		2023		2022
INCOME
Dividends from subsidiaries	$	265,965	$	166,874	$	219,868
Other income	570		303		508
Income	266,535		167,177		220,376
EXPENSE	50,075		44,685		46,133
Income before income taxes and equity in undistributed net income of subsidiaries	216,460		122,492		174,243
Provision for income taxes	(12,294)		(10,790)		(9,391)
Income before equity in undistributed net income of subsidiaries	228,754		133,282		183,634
Equity in undistributed net income (loss) of subsidiaries	(76,061)		41,775		72,778
NET INCOME	$	152,693	$	175,057	$	256,412

Condensed Statement of Comprehensive Income

(In thousands)	2024		2023		2022
NET INCOME	$	152,693	$	175,057	$	256,412
OTHER COMPREHENSIVE INCOME (LOSS)
Equity in other comprehensive income (loss) of subsidiaries	43,465		113,185		(507,015)
COMPREHENSIVE INCOME (LOSS)	$	196,158	$	288,242	$	(250,603)

Condensed Cash Flow Statement

(In thousands)	2024		2023		2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	152,693	$	175,057	$	256,412
Items not requiring (providing) cash
Stock-based compensation expense	11,290		12,189		15,317
Depreciation and amortization	1,614		1,637		1,981
Deferred income taxes	(1,628)		(1,742)		(652)
Equity in undistributed net income (loss) of bank subsidiaries	76,061		(41,775)		(72,778)
Changes in:
Other assets	(23,437)		37,720		(26,775)
Other liabilities	12,734		2,293		(28,745)
Net cash provided by operating activities	229,327		185,379		144,760
CASH FLOWS FROM INVESTING ACTIVITIES
Net collections of loans	102		1,310		1,198
Net purchases of premises and equipment	(45)		(52)		(21)
Cash acquired in business combinations	—		—		60,126
Other, net	24		5,856		1,688
Net cash provided by investing activities	81		7,114		62,991
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of long-term debt, net	(1,717)		(1,664)		(57,436)
Issuance (cancellation) of common stock, net	375		(2,021)		(3,882)
Stock repurchases	—		(40,322)		(111,133)
Dividends paid on common stock	(105,439)		(100,962)		(94,096)
Net cash used in financing activities	(106,781)		(144,969)		(266,547)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	122,627		47,524		(58,796)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	164,439		116,915		175,711
CASH AND CASH EQUIVALENTS, END OF YEAR	$	287,066	$	164,439	$	116,915