Parent Company Information (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Statements of Financial Condition

Condensed Statements of Financial Condition

	December 31,
	2013		2012
	(in thousands)
Assets
Cash	$	33,592	$	4,732
Interest bearing deposits with banks		135		55,135
Investment securities available for sale		4,373		4,779
Investment in subsidiaries		1,682,093		1,652,362
Other assets		13,741		9,738
Total assets	$	1,733,934	$	1,726,746
Liabilities and Shareholders’ Equity
Dividends payable to shareholders	$	21,957	$	32,147
Long-term borrowings		121,757		—
Junior subordinated debentures issued to capital trusts (includes fair value of $147,595 at December 31, 2012 for VNB Capital Trust I)		41,089		188,522
Accrued expenses and other liabilities		8,091		3,700
Shareholders’ equity		1,541,040		1,502,377
Total liabilities and shareholders’ equity	$	1,733,934	$	1,726,746

Schedule of Condensed Statements of Income

Condensed Statements of Income

	Years Ended December 31,
	2013			2012			2011
	(in thousands)
Income
Dividends from subsidiary	$	120,000		$	145,000		$	115,000
Income from subsidiary		6			53			180
Gains on securities transactions, net		14			—			—
Trading gains, net		881			2,574			1,256
Other interest and dividends		576			922			223
Total Income		121,477			148,549			116,659
Total Expenses		16,140			17,040			16,481
Income before income tax benefit and equity in undistributed earnings of subsidiary		105,337			131,509			100,178
Income tax benefit		(5,130	)		(4,737	)		(5,202	)
Income before equity in undistributed earnings of subsidiary		110,467			136,246			105,380
Equity in undistributed earnings of subsidiary		21,494			7,381			27,131
Net Income	$	131,961		$	143,627		$	132,511

Schedule of Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Years Ended December 31,
	2013			2012			2011
	(in thousands)
Cash flows from operating activities:
Net Income	$	131,961		$	143,627		$	132,511
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary		(21,494	)		(7,381	)		(27,131	)
Depreciation and amortization		27			30			30
Stock-based compensation		6,055			4,816			3,156
Net amortization of premiums and accretion of discounts on securities		162			162			(56	)
Gains on securities transactions, net		(14	)		—			—
Net change in:
Fair value of borrowings carried at fair value		(881	)		(2,574	)		(1,256	)
Other assets		(4,210	)		2,977			535
Accrued expenses and other liabilities		1,124			(1,387	)		132
Net cash provided by operating activities		112,730			140,270			107,921
Cash flows from investing activities:
Loan originations		—			—			(36,990	)
Investment securities available for sale:
Sales		643			—			—
Maturities, calls and principal repayments		—			1,000			—
Cash and cash equivalents acquired in acquisitions		—			3,934			—
Net cash provided by (used in) investing activities		643			4,934			(36,990	)
Cash flows from financing activities:
Issuance of long-term borrowings		125,000			—			—
Redemption of junior subordinated debentures		(142,313	)		(10,000	)		—
Dividends paid to common shareholders		(129,271	)		(125,870	)		(116,779	)
Common stock issued, net		7,071			7,805			8,027
Net cash used in financing activities		(139,513	)		(128,065	)		(108,752	)
Net change in cash and cash equivalents		(26,140	)		17,139			(37,821	)
Cash and cash equivalents at beginning of year		59,867			42,728			80,549
Cash and cash equivalents at end of year	$	33,727		$	59,867		$	42,728