Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet for Parent Company only

(dollars in thousands)	December 31, 2020		December 31, 2019
Assets
Cash	$	29,275	$	43,204
Investment securities available-for-sale, at fair value	16,716		7,218
Investment in subsidiaries	1,347,235		1,334,197
Other assets	79,590		30,773
Total Assets	$	1,472,816	$	1,415,392
Liabilities
Other liabilities	$	13,847	$	7,024
Long-term borrowings	218,077		217,687
Total liabilities	231,924		224,711
Shareholders’ Equity
Common stock	315		331
Additional paid in capital	427,016		482,286
Retained earnings	798,061		705,105
Accumulated other comprehensive income	15,500		2,959
Total Shareholders’ Equity	1,240,892		1,190,681
Total Liabilities and Shareholders’ Equity	$	1,472,816	$	1,415,392

Schedule of Condensed Income Statement for Parent Company only

	Years Ended December 31,
(dollars in thousands)	2020		2019		2018
Income
Other interest and dividends	$	141,982	$	85,851	$	678
Gain on sale of investment securities	—		—		—
Total Income	$	141,982	$	85,851	$	678
Expenses
Interest expense	11,915		11,916		11,916
Legal and professional	2,842		2,779		870
Directors compensation	500		491		614
Other	1,306		1,294		1,287
Total Expenses	$	16,563	$	16,480	$	14,687
Income (Loss) Before Income Tax (Benefit) and Equity in Undistributed Income of Subsidiaries	125,419		69,371		(14,009)
Income Tax Benefit	(607)		(3,176)		(2,892)
Income (Loss) Before Equity in Undistributed Income of Subsidiaries	126,026		72,547		(11,117)
Equity in Undistributed Income of Subsidiaries	6,191		70,396		163,393
Net Income	$	132,217	$	142,943	$	152,276

Schedule of Condensed Cash Flow Statement for Parent Company only

	Years Ended December 31,
(dollars in thousands)	2020		2019		2018
Cash Flows From Operating Activities
Net Income	$	132,217	$	142,943	$	152,276
Adjustments to reconcile net income to net cash used in operating activities: Equity in undistributed income of subsidiary	(6,191)		(70,396)		(163,393)
Net tax benefits from stock compensation	118		10		110
Securities premium amortization (discount accretion), net	6		2		—
Depreciation and amortization	390		—		—
Increase in other assets	(48,966)		(21,447)		(2,508)
Increase (decrease) in other liabilities	6,823		2,460		(61)
Net cash provided by (used in) operating activities	84,397		53,572		(13,576)
Cash Flows From Investing Activities
Purchases of available-for-sale investment securities	(10,000)		(7,030)		—
Proceeds from maturities of available-for-sale securities	613		—		—
Investment in subsidiary (net)	—		—		6,892
Net cash (used in) provided by investing activities	(9,387)		(7,030)		6,892
Cash Flows From Financing Activities
Proceeds from exercise of stock options	63		332		776
Proceeds from employee stock purchase plan	760		782		808
Common stock repurchased	(61,432)		(54,903)		—
Cash dividends paid	(28,330)		(22,332)		—
Net cash (used in) provided by financing activities	(88,939)		(76,121)		1,584
Net (Decrease) in Cash	(13,929)		(29,579)		(5,100)
Cash and Cash Equivalents at Beginning of Year	43,204		72,783		77,883
Cash and Cash Equivalents at End of Year	$	29,275	$	43,204	$	72,783