Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets - Parent Company Only

Condensed Balance Sheets—Parent Company Only

	December 31,
	2019		2018
	(in thousands)
Assets
Cash	$	6,088	$	945
Interest-earning deposits	21,717		7,226
Total cash and cash equivalents	27,805		8,171
Investment in banking subsidiary	2,156,039		2,049,855
Investment in other subsidiaries	5,671		5,312
Goodwill	4,729		4,729
Other assets	1,675		1,595
Total assets	$	2,195,919	$	2,069,662
Liabilities and Shareholders’ Equity
Subordinated debentures	$	35,277	$	35,462
Other liabilities	680		551
Total liabilities	35,957		36,013
Shareholders’ equity	2,159,962		2,033,649
Total liabilities and shareholders’ equity	$	2,195,919	$	2,069,662

Condensed Statements of Income - Parent Company Only

Condensed Statements of Income—Parent Company Only

	Years Ended December 31,
	2019			2018			2017
	(in thousands)
Income
Dividend from banking subsidiary	$	168,000		$	85,250		$	66,800
Interest-earning deposits	100			12			2
Other income	68			56			8
Total income	168,168			85,318			66,810
Expense
Compensation and employee benefits	791			978			732
Subordinated debentures interest expense	1,871			1,871			304
Other borrowings interest expense	—			4			60
Other expense	2,111			2,058			3,090
Total expenses	4,773			4,911			4,186
Income before income tax benefit and equity in undistributed earnings of subsidiaries	163,395			80,407			62,624
Income tax benefit	(967		)	(1,017		)	(548		)
Income before equity in undistributed earnings of subsidiaries	164,362			81,424			63,172
Equity in undistributed earnings of subsidiaries	30,089			91,458			49,656
Net income	$	194,451		$	172,882		$	112,828

Condensed Statements of Cash Flows - Parent Company Only

Condensed Statements of Cash Flows—Parent Company Only

	Years Ended December 31,
	2019			2018			2017
	(in thousands)
Operating Activities
Net income	$	194,451		$	172,882		$	112,828
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(30,089		)	(91,458		)	(49,656		)
Stock-based compensation expense	9,271			8,354			7,745
Net changes in other assets and liabilities	(133		)	1,622			1,672
Net cash provided by operating activities	173,500			91,400			72,589
Investing Activities
Net cash paid in business combinations	—			—			(580		)
Net cash used in investing activities	—			—			(580		)
Financing Activities
Common stock dividends	(102,265		)	(83,459		)	(51,308		)
Repayment of junior subordinated debentures	—			(8,248		)	(6,186		)
Cash settlement of acquired equity awards	—			—			(7,345		)
Purchase and retirement of common stock	(2,792		)	(2,677		)	(2,299		)
Purchase of treasury shares	(50,834		)	—			—
Proceeds from exercise of stock options	2,025			1,857			1,980
Net cash used in financing activities	(153,866		)	(92,527		)	(65,158		)
Increase (decrease) in cash and cash equivalents	19,634			(1,127		)	6,851
Cash and cash equivalents at beginning of year	8,171			9,298			2,447
Cash and cash equivalents at end of year	$	27,805		$	8,171		$	9,298
Supplemental disclosure of noncash investing and financing activities
Share-based consideration issued in business combinations	$	—		$	—		$	636,385