Condensed Financial Information Of Parent Company

12 Months Ended

Dec. 31, 2017

Condensed Financial Information Of Parent Company [Abstract]

Condensed Financial Information of Parent Company Only Disclosure

NOTE 19. 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	2017		2016
	(In thousands)
Assets:
Cash and cash equivalents	$	185,511	$	494,765
Investments in subsidiaries	4,869,391		4,053,711
Other assets	76,458		67,074
Total assets	$	5,131,360	$	4,615,550
Liabilities:
Subordinated debentures	$	147,233	$	134,360
Other liabilities	6,529		2,135
Total liabilities	153,762		136,495
Stockholders’ equity	4,977,598		4,479,055
Total liabilities and stockholders’ equity	$	5,131,360	$	4,615,550

Parent Company Only	December 31,
Condensed Statements of Earnings	2017		2016		2015
	(In thousands)
Miscellaneous income	$	3,393	$	2,146	$	1,458
Dividends from Bank subsidiary	265,000		259,000		214,000
Total income	268,393		261,146		215,458
Interest expense	5,519		4,816		4,279
Operating expenses	8,273		7,732		6,983
Total expenses	13,792		12,548		11,262
Earnings before income taxes and equity in undistributed earnings of subsidiaries	254,601		248,598		204,196
Income tax benefit	19,957		2,612		4,225
Earnings before equity in undistributed earnings of subsidiaries	274,558		251,210		208,421
Equity in undistributed earnings of subsidiaries	83,260		100,956		91,198
Net earnings	$	357,818	$	352,166	$	299,619

Parent Company Only	December 31,
Condensed Statements of Cash Flows	2017			2016			2015
	(In thousands)
Cash flows from operating activities:
Net earnings	$	357,818		$	352,166		$	299,619
Adjustments to reconcile net earnings to net cash provided by operating activities:
Change in other assets	(34,274		)	96,668			145,709
Change in liabilities	4,857			(17,311		)	9,115
Gain on sale of securities, net	(15		)	(405		)	—
Earned stock compensation	25,568			23,319			14,994
Tax effect of restricted stock vesting included in stockholders’ equity	—			4,406			841
Equity in undistributed earnings of subsidiaries	(83,260		)	(100,956		)	(91,198		)
Net cash provided by operating activities	270,694			357,887			379,080
Cash flows from investing activities:
Proceeds from sales of securities available-for-sale	426			995			—
Net cash and cash equivalents (paid in) acquired in acquisitions	(223,818		)	—			3,021
Net cash (used in) provided by investing activities	(223,392		)	995			3,021
Cash flows from financing activities:
Common stock repurchased and restricted stock surrendered	(109,153		)	(33,244		)	(8,400		)
Tax effect of restricted stock vesting included in stockholders’ equity	—			(4,406		)	(841		)
Increase in note receivable	—			—			(50,000		)
Cash dividends paid, net	(247,403		)	(243,437		)	(215,110		)
Net cash used in financing activities	(356,556		)	(281,087		)	(274,351		)
Net (decrease) increase in cash and cash equivalents	(309,254		)	77,795			107,750
Cash and cash equivalents, beginning of year	494,765			416,970			309,220
Cash and cash equivalents, end of year	$	185,511		$	494,765		$	416,970
Supplemental disclosure of noncash investing and financing activities:
Common stock issued for acquisitions	$	446,233		$	—		$	797,433