Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Statements of Income - Parent Company Only

Condensed Statements of Income—Parent Company Only

	Years Ended December 31,
	2012			2011			2010
	(in thousands)
Income
Dividend from banking subsidiary	$	48,950		$	—		$	—
Interest-earning deposits	153			712			1,319
Other income	—			17			31
Total income	49,103			729			1,350
Expense
Compensation and employee benefits	182			88			96
Long-term obligations	—			579			1,029
Other expense	1,193			1,114			1,066
Total expenses	1,375			1,781			2,191
Income (loss) before income tax expense (benefit) and equity in undistributed net income of subsidiaries	47,728			(1,052		)	(841		)
Income tax expense (benefit)	(435		)	91			(778		)
Income (loss) before equity in undistributed net income of subsidiaries	48,163			(1,143		)	(63		)
Equity in undistributed net income (loss) of subsidiaries	(2,020		)	49,180			30,847
Net income	$	46,143		$	48,037		$	30,784

Condensed Balance Sheets - Parent Company Only

Condensed Balance Sheets—Parent Company Only

	December 31,
	2012		2011
	(in thousands)
Assets
Cash and due from banking subsidiary	$	1,729	$	3,220
Interest-earning deposits	84,915		72,014
Total cash and cash equivalents	86,644		75,234
Investment in banking subsidiary	676,974		683,977
Other assets	649		510
Total assets	$	764,267	$	759,721
Liabilities and Shareholders’ Equity
Other liabilities	$	259	$	383
Total liabilities	259		383
Shareholders’ equity	764,008		759,338
Total liabilities and shareholders’ equity	$	764,267	$	759,721

Condensed Statements of Cash Flows - Parent Company Only

Condensed Statements of Cash Flows—Parent Company Only

	Years Ended December 31,
	2012			2011			2010
	(in thousands)
Operating Activities
Net income	$	46,143		$	48,037		$	30,784
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed loss (earnings) of subsidiaries	2,020			(49,180		)	(30,847		)
Stock-based compensation expense	1,622			1,635			1,424
Net changes in other assets and liabilities	(264		)	315			(769		)
Net cash provided by operating activities	49,521			807			592
Investing Activities
Proceeds from termination of trust subsidiaries	—			774			—
Net cash provided by investing activities	—			774			—
Financing Activities
Cash dividends paid	(38,824		)	(10,660		)	(4,302		)
Repayment of long-term subordinated debt	—			(25,774		)	—
Issuance of common stock, net of offering costs	—			—			229,129
Purchase and retirement of common stock	—			(32		)	—
Proceeds from exercise of stock options	713			848			948
Downstream stock offering proceeds to the Bank	—			(50,000		)	(70,000		)
Excess tax benefit associated with share-based compensation	—			98			—
Purchase and retirement of preferred stock	—			—			(80,200		)
Net cash provided by (used in) financing activities	(38,111		)	(85,520		)	75,575
Increase (decrease) in cash and cash equivalents	11,410			(83,939		)	76,167
Cash and cash equivalents at beginning of year	75,234			159,173			83,006
Cash and cash equivalents at end of year	$	86,644		$	75,234		$	159,173