Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]


	2020		2019
Assets:
Cash and cash equivalents	$	275,888	$	182,091
Investments in bank subsidiaries	4,972,160		4,653,310
Investments in consolidated subsidiaries	9,322		7,816
Investment in unconsolidated subsidiaries:
Statutory Trusts	3,995		3,995
Other investments	113,445		97,459
Current income tax receivable	51,621		11,696
Other assets	25,747		29,566
	$	5,452,178	$	4,985,933
Liabilities and stockholders' equity:
Income taxes payable to subsidiaries	—		2,467
Subordinated debt and other borrowings	541,286		620,256
Other liabilities	6,281		7,462
Stockholders' equity	4,904,611		4,355,748
	$	5,452,178	$	4,985,933

CONDENSED STATEMENTS OF OPERATIONS


	2020		2019		2018
Revenues:
Income from bank subsidiaries	$	119,065	$	113,982	$	83,090
Income from nonbank subsidiaries	119		178		170
Income from equity method investment	22,587		24,298		13,731
Other income	3,861		3,485		1,310
Expenses:
Interest expense	23,877		18,425		17,703
Personnel expense, including stock compensation	18,737		21,226		17,636
Other expense	2,905		1,496		1,312
Income before income taxes and equity in undistributed income of subsidiaries	100,113		100,796		61,650
Income tax benefit	(5,370)		(4,457)		(8,570)
Income before equity in undistributed income of subsidiaries	105,483		105,253		70,220
Equity in undistributed income of bank subsidiaries	205,327		294,354		288,728
Equity in undistributed income of nonbank subsidiaries	1,511		1,274		492
Net income	$	312,321	$	400,881	$	359,440
Preferred stock dividends	7,596		—		—
Net income available to common shareholders	$	304,725	$	400,881	$	359,440

CONDENSED STATEMENTS OF CASH FLOWS


	2020		2019		2018
Operating activities:
Net income	$	312,321	$	400,881	$	359,440
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization and accretion	1,122		(3,094)		105
Stock-based compensation expense	18,737		21,226		17,636
Increase (decrease) in income tax payable, net	(2,467)		2,467		(24)
Deferred tax expense (benefit)	3,876		(2,857)		(549)
Income from equity method investments, net	(22,587)		(24,298)		(13,731)
Dividends received from equity method investment	9,251		8,953		5,872
Excess tax benefit from stock compensation	(417)		(1,011)		(2,966)
Gain on other investments	(195)		(1,057)		(209)
Decrease (increase) in other assets	(39,981)		7,295		4,390
Increase (decrease) in other liabilities	(764)		5,322		2,758
Equity in undistributed income of bank subsidiary	(205,327)		(294,354)		(288,728)
Equity in undistributed income of nonbank subsidiary	(1,511)		(1,274)		(492)
Net cash provided by operating activities	72,058		118,199		83,502
Investing activities:
Investment in consolidated banking subsidiaries	—		(180,000)		—

Increase in other investments	(2,454)		(1,411)		(2,321)
Net cash used in investing activities	(2,454)		(181,411)		(2,321)
Financing activities:
Proceeds from subordinated debt and other borrowings, net of issuance costs	(93)		316,078		19,850
Repayment of other borrowings	(80,000)		(49,880)		(620)

Issuance of common stock pursuant to restricted stock unit agreement, net of shares withheld for taxes	(2,488)		—		—
Exercise of common stock options, net of repurchase of restricted shares	(2,577)		(3,694)		(5,071)
Issuance of preferred stock, net of issuance costs	217,126		—		—
Repurchase of common stock	(50,790)		(61,416)		(20,694)

Common dividends paid	(49,389)		(49,828)		(45,454)
Preferred stock dividends paid	(7,596)		—		—
Net cash provided by (used in) financing activities	24,193		151,260		(51,989)
Net increase in cash	93,797		88,048		29,192
Cash and cash equivalents, beginning of year	182,091		94,043		64,851
Cash and cash equivalents, end of year	$	275,888	$	182,091	$	94,043