Condensed Financial Information Of Parent Company

12 Months Ended

Dec. 31, 2016

Condensed Financial Information Of Parent Company [Abstract]

Condensed Financial Information of Parent Company Only Disclosure

NOTE 20. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

The following tables present the parent company only condensed balance sheets and the related condensed statements of earnings and condensed statements of cash flows as of and for the years indicated:

Parent Company Only	December 31,
Condensed Balance Sheets:	2016		2015
	(In thousands)
Assets:
Cash and due from banks	$	494,765	$	416,970
Investments in subsidiaries	4,053,711		3,980,537
Other assets	67,074		153,991
Total assets	$	4,615,550	$	4,551,498
Liabilities:
Subordinated debentures	$	134,360	$	133,812
Other liabilities	2,135		19,995
Total liabilities	136,495		153,807
Stockholders’ equity	4,479,055		4,397,691
Total liabilities and stockholders’ equity	$	4,615,550	$	4,551,498

Parent Company Only	December 31,
Condensed Statements of Earnings:	2016		2015		2014
	(In thousands)
Miscellaneous income	$	2,146	$	1,458	$	122
Dividends from Bank subsidiary	259,000		214,000		137,000
Total income	261,146		215,458		137,122
Interest expense	4,816		4,279		4,211
Operating expenses	7,732		6,983		8,105
Total expenses	12,548		11,262		12,316
Earnings before income taxes and equity in undistributed earnings of subsidiaries	248,598		204,196		124,806
Income tax benefit	2,612		4,225		5,164
Earnings before equity in undistributed earnings of subsidiaries	251,210		208,421		129,970
Equity in undistributed earnings of subsidiaries	100,956		91,198		38,935
Net earnings	$	352,166	$	299,619	$	168,905

Parent Company Only	December 31,
Condensed Statements of Cash Flows:	2016			2015			2014
	(In thousands)
Cash flows from operating activities:
Net earnings	$	352,166		$	299,619		$	168,905
Adjustments to reconcile net earnings to net cash provided by operating activities:
Change in other assets	96,668			145,709			25,515
Change in liabilities	(17,311		)	9,115			310
Gain on sale of securities, net	(405		)	—			—
Tax effect in stockholders’ equity of restricted stock vesting	4,406			841			4,625
Earned stock compensation	23,319			14,994			41,099
Equity in undistributed earnings of subsidiaries	(100,956		)	(91,198		)	(38,935		)
Net cash provided by operating activities	357,887			379,080			201,519
Cash flows from investing activities:
Proceeds from sales of securities available-for-sale	995			—			—
Net cash and cash equivalents acquired in acquisition	—			3,021			226,960
Net cash provided by investing activities	995			3,021			226,960
Cash flows from financing activities:
Tax effect in stockholders’ equity of restricted stock vesting	(4,406		)	(841		)	(4,625		)
Common stock repurchased and restricted stock surrendered	(33,244		)	(8,400		)	(22,307		)
Increase in note receivable	—			(50,000		)	—
Cash dividends paid, net	(243,437		)	(215,110		)	(114,162		)
Net cash used in financing activities	(281,087		)	(274,351		)	(141,094		)
Net increase in cash and cash equivalents	77,795			107,750			287,385
Cash and cash equivalents, beginning of year	416,970			309,220			21,835
Cash and cash equivalents, end of year	$	494,765		$	416,970		$	309,220
Supplemental disclosure of noncash investing and financing activities:
Common stock issued for acquisitions	$	—		$	797,433		$	2,594,070