Condensed Financial Information - Parent Company (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

Condensed Balance Sheets -

December 31, 2022 and 2021

ASSETS	2022			2021
Cash in subsidiary bank (1)	$	50,204		$	83,547
Cash in unaffiliated banks (1)		2			2
Interest-bearing deposits in subsidiary bank (1)		69,053			68,814
Total cash and cash equivalents		119,259			152,363
Securities available-for-sale, at fair value		2,235			2,489
Investment in and advances to subsidiaries, at equity (1)		1,171,095			1,629,387
Intangible assets		723			723
Other assets		5,355			3,610
Total assets	$	1,298,667		$	1,788,572
LIABILITIES AND SHAREHOLDERS’ EQUITY
Total liabilities	$	32,930		$	29,348
Shareholders’ equity:
Common stock		1,427			1,425
Capital surplus		677,593			676,871
Retained earnings		1,121,945			981,675
Treasury stock		(11,035	)		(10,090	)
Deferred compensation		11,035			10,090
Accumulated other comprehensive earnings		(535,228	)		99,253
Total shareholders’ equity		1,265,737			1,759,224
Total liabilities and shareholders’ equity	$	1,298,667		$	1,788,572

(1)Eliminates in consolidation.

Condensed Statements of Earnings

Condensed Statements of Earnings -

For the Years Ended December 31, 2022, 2021 and 2020

	2022		2021		2020
Income:
Cash dividends from subsidiaries (1)	$	67,500	$	96,500	$	87,500
Excess of earnings over dividends of subsidiaries (1)		174,741		140,441		122,997
Other		62		279		8,368
Total income		242,303		237,220		218,865
Expenses:
Salaries and employee benefits		6,541		7,374		13,795
Other operating expenses		4,106		5,262		5,599
Total expense		10,647		12,636		19,394
Earnings before income taxes		231,656		224,584		199,471
Income tax benefit		2,819		2,978		2,563
Net earnings	$	234,475	$	227,562	$	202,034

(1)Eliminates in consolidation.

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows -

For the Years Ended December 31, 2022, 2021 and 2020

	2022			2021			2020
Cash flows from operating activities:
Net earnings	$	234,475		$	227,562		$	202,034
Adjustments to reconcile net earnings to    net cash provided by operating activities:
Excess of earnings over dividends of subsidiaries		(174,741	)		(140,441	)		(122,997	)
Depreciation and amortization, net		188			189			198
Gain on sale of assets, net		—			—			(38	)
Decrease (increase) in other assets		645			(693	)		164
Increase (decrease) in other liabilities		933			2,997			2,083
Other		—			(4	)		35
Net cash provided by operating activities		61,500			89,610			81,479
Cash flows from investing activities:
Maturity of available-for-sale securities		—			—			3,720
Purchases of bank premises and equipment and software		(385	)		(106	)		—
Net cash provided by (used in) investing activities		(385	)		(106	)		3,720
Cash flows from financing activities:
Proceeds from stock option exercises		6,545			5,905			4,717
Cash dividends paid		(91,315	)		(79,712	)		(70,318	)
Repurchase of stock		(9,449	)		—			(8,008	)
Net cash used in financing activities		(94,219	)		(73,807	)		(73,609	)
Net increase in cash and cash equivalents		(33,104	)		15,697			11,590
Cash and cash equivalents, beginning of year		152,363			136,666			125,076
Cash and cash equivalents, end of year	$	119,259		$	152,363		$	136,666