Parent Company Only Condensed Financial Statements (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet Of Parent Company Only Disclosure

Condensed Balance Sheets

	December 31,
($ in thousands)	2023		2022
Assets
Cash	$	100,418	$	99,018
Investment in Bank	1,748,260		1,553,657
Investment in nonbank subsidiaries	11,267		16,476
Other assets	27,701		30,312
Total assets	$	1,887,646	$	1,699,463
Liabilities and Shareholders’ Equity
Subordinated debentures and notes	$	155,984	$	155,433
Notes payable	11,429		17,143
Accounts payable and other liabilities	4,165		4,624
Shareholders' equity	1,716,068		1,522,263
Total liabilities and shareholders' equity	$	1,887,646	$	1,699,463

Condensed Income Statement Of Parent Company Only Disclosure

Condensed Statements of Income

	Year ended December 31,
($ in thousands)	2023		2022		2021
Income:
Dividends from Bank	$	45,000	$	75,000	$	95,000
Dividends from nonbank subsidiaries	4,875		1,700		2,000
Other	7,736		1,086		3,600
Total income	57,611		77,786		100,600
Expenses:
Interest expense	10,856		9,825		11,406
Other expenses	8,774		8,580		11,037
Total expenses	19,630		18,405		22,443
Income before taxes and equity in undistributed earnings of subsidiaries	37,981		59,381		78,157
Income tax benefit	2,520		3,585		3,710
Net income before equity in undistributed earnings of subsidiaries	40,501		62,966		81,867
Equity in undistributed earnings of subsidiaries	153,558		140,077		51,188
Net income	$	194,059	$	203,043	$	133,055

Condensed Cash Flow Statment Of Parent Company Only Disclosure

Condensed Statements of Cash Flows

	Year ended December 31,
($ in thousands)	2023		2022		2021
Cash flows from operating activities:
Net income	$	194,059	$	203,043	$	133,055
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	4,439		8,006		6,017
Net income of subsidiaries	(203,433)		(216,777)		(148,188)
Dividends from subsidiaries	49,875		76,700		97,000
Other, net	(421)		6,102		(16)
Net cash provided by operating activities	44,519		77,074		87,868
Cash flows from investing activities:
Proceeds from acquisitions, net of cash acquired	—		—		2,346
Purchases of other investments	(1,002)		(2,187)		(2,204)
Proceeds from distributions on other investments	3,314		3,878		2,656
Net cash provided by investing activities	2,312		1,691		2,798
Cash flows from financing activities:
Payments for the redemption of subordinated notes	—		—		(50,000)
Repayment of long-term debt	(5,714)		(5,714)		(7,143)
Dividends paid on common stock	(37,368)		(33,602)		(26,153)
Payments for the repurchase of common stock	—		(32,923)		(60,589)
Proceeds from issuance of preferred stock	—		—		71,988
Dividends paid on preferred stock	(3,750)		(4,041)		—
Other	1,401		1,773		516
Net cash used in financing activities	(45,431)		(74,507)		(71,381)
Net increase in cash and cash equivalents	1,400		4,258		19,285
Cash and cash equivalents, beginning of year	99,018		94,760		75,475
Cash and cash equivalents, end of year	$	100,418	$	99,018	$	94,760
Supplemental disclosures of cash flow information:
Noncash transactions:
Common shares issued in connection with acquisitions	$	—	$	—	$	343,650