Parent Company Financial Information

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Information

Parent Company Financial Information

Condensed Balance Sheets—Parent Company Only

	December 31,
	2016		2015
	(in thousands)
Assets
Cash and due from banking subsidiary	$	1,718	$	3,429
Interest-earning deposits	729		560
Total cash and cash equivalents	2,447		3,989
Investment in banking subsidiary	1,238,712		1,228,070
Investment in other subsidiaries	4,978		5,567
Other assets	5,146		4,833
Total assets	$	1,251,283	$	1,242,459
Liabilities and Shareholders’ Equity
Other liabilities	$	271	$	331
Total liabilities	271		331
Shareholders’ equity	1,251,012		1,242,128
Total liabilities and shareholders’ equity	$	1,251,283	$	1,242,459

Condensed Statements of Income—Parent Company Only

	Years Ended December 31,
	2016			2015			2014
	(in thousands)
Income
Dividend from banking subsidiary	$	83,500		$	67,000		$	16,200
Interest-earning deposits	4			5			25
Other income	8			92			10
Total income	83,512			67,097			16,235
Expense
Compensation and employee benefits	543			618			530
Other borrowings	—			5			83
Other expense	1,608			1,368			1,433
Total expenses	2,151			1,991			2,046
Income before income tax benefit and equity in undistributed earnings of subsidiaries	81,361			65,106			14,189
Income tax benefit	(748		)	(663		)	(704		)
Income before equity in undistributed earnings of subsidiaries	82,109			65,769			14,893
Equity in undistributed earnings of subsidiaries	22,757			33,058			66,681
Net income	$	104,866		$	98,827		$	81,574

Condensed Statements of Cash Flows—Parent Company Only

	Years Ended December 31,
	2016			2015			2014
	(in thousands)
Operating Activities
Net income	$	104,866		$	98,827		$	81,574
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(22,757		)	(33,058		)	(66,681		)
Stock-based compensation expense	5,009			4,090			2,859
Net changes in other assets and liabilities	(394		)	(3,170		)	(403		)
Net cash provided by operating activities	86,724			66,689			17,349
Investing Activities
Net cash acquired in business combinations	—			—			10,277
Net cash provided by investing activities	—			—			10,277
Financing Activities
Preferred stock dividends	(157		)	(137		)	(96		)
Common stock dividends	(88,677		)	(77,263		)	(49,494		)
Repayment of other borrowings	—			(8,248		)	(14,636		)
Exercise of warrants	—			—			5,000
Purchase and retirement of common stock	(1,125		)	(906		)	(622		)
Proceeds from exercise of stock options	1,349			1,258			929
Excess tax benefit associated with share-based compensation	344			—			205
Net cash used in financing activities	(88,266		)	(85,296		)	(58,714		)
Decrease in cash and cash equivalents	(1,542		)	(18,607		)	(31,088		)
Cash and cash equivalents at beginning of year	3,989			22,596			53,684
Cash and cash equivalents at end of year	$	2,447		$	3,989		$	22,596