Condensed Financial Information - Parent Company Only

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Statements - Parent Company Only

NOTE 19 – CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY

CONDENSED BALANCE SHEETS

(in thousands)

	December 31					December 31
	2015		2014			2015		2014
ASSETS					LIABILITIES AND EQUITY
Cash	$	—	$	137	Long-term debt	$	361,504	$	465,936
Other assets	4,337		10,053		Payable to non-bank subsidiaries	188,087		84,676
Receivable from subsidiaries	29,249		29,120		Other liabilities	77,263		81,682
					Total Liabilities	626,854		632,294
Investments in:
Bank subsidiaries	2,226,975		2,174,786
Non-bank subsidiaries	408,187		414,863		Shareholders’ equity	2,041,894		1,996,665
Total Assets	$	2,668,748	$	2,628,959	Total Liabilities and           Shareholders’ Equity	$	2,668,748	$	2,628,959

CONDENSED STATEMENTS OF INCOME

	2015			2014			2013
	(in thousands)
Income:
Dividends from subsidiaries	$	114,000		$	139,150		$	114,438
Other (1)	141,241			120,543			106,297
	255,241			259,693			220,735
Expenses	176,457			152,243			138,164
Income before income taxes and equity in undistributed net income of subsidiaries	78,784			107,450			82,571
Income tax benefit	(11,834		)	(10,549		)	(10,744		)
	90,618			117,999			93,315
Equity in undistributed net income (loss) of:
Bank subsidiaries	60,806			33,134			56,552
Non-bank subsidiaries	(1,922		)	6,761			11,973
Net Income	$	149,502		$	157,894		$	161,840

(1) Consists primarily of management fees received from subsidiary banks.

CONDENSED STATEMENTS OF CASH FLOWS

	2015			2014			2013
	(in thousands)
Cash Flows From Operating Activities:
Net Income	$	149,502		$	157,894		$	161,840
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	5,938			5,865			5,330
Excess tax benefits from stock-based compensation	(201		)	(81		)	(302		)
Decrease (increase) in other assets	2,806			(7,120		)	1,893
Equity in undistributed net income of subsidiaries	(58,884		)	(39,895		)	(68,525		)
Loss on redemption of trust preferred securities	5,626			—			—
Increase in other liabilities and payable to non-bank subsidiaries	106,490			37,354			26,946
Total adjustments	61,775			(3,877		)	(34,658		)
Net cash provided by operating activities	211,277			154,017			127,182
Cash Flows From Investing Activities	—			—			—
Cash Flows From Financing Activities:
Repayments of long-term debt	(254,640		)	—			—
Additions to long-term debt	147,779			97,113			—
Net proceeds from issuance of common stock	10,607			8,201			9,936
Excess tax benefits from stock-based compensation	201			81			302
Dividends paid	(65,361		)	(64,028		)	(46,525		)
Acquisition of treasury stock	(50,000		)	(175,255		)	(90,927		)
Deferred accelerated stock repurchase payment	—			(20,000		)	—
Net cash used in financing activities	(211,414		)	(153,888		)	(127,214		)
Net (Decrease) Increase in Cash and Cash Equivalents	(137		)	129			(32		)
Cash and Cash Equivalents at Beginning of Year	137			8			40
Cash and Cash Equivalents at End of Year	$	—		$	137		$	8