Parent Company Financial Information

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Information

Parent Company Financial Information

Condensed Statements of Income—Parent Company Only

	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Income
Dividend from banking subsidiary	$	16,200		$	183,000		$	48,950
Interest-earning deposits	25			68			153
Other income	10			7			—
Total income	16,235			183,075			49,103
Expense
Compensation and employee benefits	530			658			182
Other borrowings	83			258			—
Other expense	1,433			4,162			1,193
Total expenses	2,046			5,078			1,375
Income before income tax benefit and equity in undistributed net income (loss) of subsidiaries	14,189			177,997			47,728
Income tax benefit	(704		)	(1,552		)	(435		)
Income before equity in undistributed net income of subsidiaries	14,893			179,549			48,163
Equity in undistributed net income (loss) of subsidiaries	66,681			(119,533		)	(2,020		)
Net income	$	81,574		$	60,016		$	46,143

Condensed Balance Sheets—Parent Company Only

	December 31,
	2014		2013
	(in thousands)
Assets
Cash and due from banking subsidiary	$	10,322	$	3,006
Interest-earning deposits	12,274		50,678
Total cash and cash equivalents	22,596		53,684
Investment in banking subsidiary	1,207,143		993,002
Investment in other subsidiaries	5,351		5,037
Other assets	5,273		1,952
Total assets	$	1,240,363	$	1,053,675
Liabilities and Shareholders’ Equity
Other borrowings	$	8,248	$	—
Other liabilities	3,940		426
Total liabilities	12,188		426
Shareholders’ equity	1,228,175		1,053,249
Total liabilities and shareholders’ equity	$	1,240,363	$	1,053,675

Condensed Statements of Cash Flows—Parent Company Only

	Years Ended December 31,
	2014			2013			2012
	(in thousands)
Operating Activities
Net income	$	81,574		$	60,016		$	46,143
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net loss (income) of subsidiaries	(66,681		)	119,533			2,020
Stock-based compensation expense	2,859			2,844			1,622
Net changes in other assets and liabilities	(403		)	6,830			(264		)
Net cash provided by operating activities	17,349			189,223			49,521
Investing Activities
Net cash acquired (paid) in business combinations	10,277			(53,159		)	—
Net cash provided by (used in) investing activities	10,277			(53,159		)	—
Financing Activities
Preferred stock dividends	(96		)	(32		)	—
Common stock dividends	(49,494		)	(19,858		)	(38,824		)
Repayment of other borrowings	(14,636		)	(51,000		)	—
Exercise of warrants	5,000			—			—
Purchase and retirement of common stock	(622		)	(429		)	—
Proceeds from exercise of stock options	929			1,092			713
Downstream stock offering proceeds to the Bank	—			(100,000		)	—
Excess tax benefit associated with share-based compensation	205			1,203			—
Net cash used in financing activities	(58,714		)	(169,024		)	(38,111		)
Increase (decrease) in cash and cash equivalents	(31,088		)	(32,960		)	11,410
Cash and cash equivalents at beginning of year	53,684			86,644			75,234
Cash and cash equivalents at end of year	$	22,596		$	53,684		$	86,644