PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Parent Company Balance Sheets

BALANCE SHEETS (in thousands)

	December 31,
	2021		2020
ASSETS
Investment in subsidiaries:
Banks	$	2,970,227	$	2,902,559
Non-banks		169,123		138,450
Total investment in subsidiaries		3,139,350		3,041,009
Goodwill on purchased affiliates		5,011		5,011
Cash		185,372		172,745
Investment securities and other		155,196		135,609
Total assets	$	3,484,929	$	3,354,374
LIABILITIES AND SHAREHOLDERS' EQUITY
Long-term debt	$	271,544	$	269,595
Accrued expenses and other		67,961		67,831
Total liabilities		339,505		337,426
Shareholders' equity		3,145,424		3,016,948
Total liabilities and shareholders' equity	$	3,484,929	$	3,354,374

Schedule of Parent Company Statements of Income and Comprehensive Income

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (in thousands)

	Year Ended December 31,
	2021			2020			2019
INCOME
Dividends and income received from subsidiaries	$	129,217		$	78,360		$	56,500
Service fees from subsidiaries		60,346			49,191			52,416
Other		12,771			9,241			11,249
Total income		202,334			136,792			120,165
EXPENSE
Salaries and employee benefits		62,109			56,919			57,487
Other		31,022			22,657			21,124
Total expense		93,131			79,576			78,611
Income before income taxes and equity in undistributed earnings of subsidiaries		109,203			57,216			41,554
Income tax (benefit) expense		(10,322	)		(6,230	)		12,201
Income before equity in undistributed earnings of subsidiaries		119,525			63,446			29,353
Equity in undistributed earnings of subsidiaries:
Banks		263,084			234,014			221,215
Non-Banks		(29,591	)		(10,958	)		(6,968	)
Net income	$	353,018		$	286,502		$	243,600
Other comprehensive (loss) income		(192,026	)		235,160			178,962
Comprehensive income	$	160,992		$	521,662		$	422,562

Schedule of Parent Company Statements of Cash Flows

STATEMENTS OF CASH FLOWS (in thousands)

	Year Ended December 31,
	2021			2020			2019
OPERATING ACTIVITIES
Net income	$	353,018		$	286,502		$	243,600
Adjustments to reconcile net income to cash provided by operating activities:
Equity in earnings of subsidiaries		(362,709	)		(301,415	)		(270,747	)
Dividends received from subsidiaries		129,217			78,360			56,500
Depreciation and amortization		15			15			(78	)
Amortization of debt issuance costs		450			131			—
Equity based compensation		21,208			15,120			14,850
Net tax benefit related to equity compensation plans		2,597			345			766
Changes in other assets and liabilities, net		(6,646	)		(2,069	)		(7,864	)
Net cash provided by operating activities		137,150			76,989			37,027
INVESTING ACTIVITIES
Net capital investment in subsidiaries		(60,264	)		(96,678	)		(331	)
Net (increase) decrease in investment securities		(11,051	)		(29,648	)		21
Net cash used in investing activities		(71,315	)		(126,326	)		(310	)
FINANCING ACTIVITIES
Cash dividends paid		(66,750	)		(60,281	)		(59,436	)
Proceeds from short-term debt		—			15,000			—
Repayment of short-term debt		—			(15,000	)		—
Proceeds from long-term debt		—			200,000			—
Payment of debt issuance costs		—			(2,250	)		—
Proceeds from exercise of stock options and sales of treasury stock		19,048			5,186			4,637
Purchases of treasury stock		(5,506	)		(63,766	)		(4,496	)
Net cash (used in) provided by in financing activities		(53,208	)		78,889			(59,295	)
Net increase (decrease) in cash		12,627			29,552			(22,578	)
Cash and cash equivalents at beginning of period		172,745			143,193			165,771
Cash and cash equivalents at end of period	$	185,372		$	172,745		$	143,193