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Note 22 - Condensed Financial Information (Parent Company Only)
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
NOTE
22:
CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY)
 
CONDENSED BALANCE SHEETS
DECEMBER 31, 2017
and
2016
 
(In thousands)   2017   2016
         
ASSETS                
Cash and cash equivalents   $
19,101
    $
93,266
 
Investment securities    
2,789
     
79
 
Investments in wholly-owned subsidiaries    
2,288,687
     
1,141,294
 
Loans    
993
     
1,083
 
Intangible assets, net    
133
     
133
 
Premises and equipment    
10,369
     
11,534
 
Other assets    
31,181
     
27,955
 
TOTAL ASSETS   $
2,353,253
    $
1,275,344
 
                 
LIABILITIES                
Short-term debt   $
75,000
    $
--
 
Long-term debt    
183,947
     
108,326
 
Other liabilities    
9,742
     
15,907
 
Total liabilities    
268,689
     
124,233
 
                 
STOCKHOLDERS’ EQUITY                
Common stock    
920
     
626
 
Surplus    
1,586,034
     
711,663
 
Undivided profits    
514,874
     
454,034
 
Accumulated other comprehensive loss                
Unrealized depreciation on available-for-sale securities, net of income taxes of ($6,108) and ($9,818) at December 31, 2017 and 2016 respectively    
(17,264
)    
(15,212
)
Total stockholders’ equity    
2,084,564
     
1,151,111
 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $
2,353,253
    $
1,275,344
 
 
CONDENSED STATEMENTS OF INCOME
YEARS ENDED
DECEMBER 31, 2017,
2016
and
2015
 
(In thousands)   2017   2016   2015
             
INCOME                        
Dividends from subsidiaries   $
69,107
    $
83,710
    $
84,128
 
Other income    
4,111
     
2,465
     
2,303
 
 Income    
73,218
     
86,175
     
86,431
 
EXPENSE    
32,234
     
21,990
     
24,594
 
Income before income taxes and equity in undistributed net income of subsidiaries    
40,984
     
64,185
     
61,837
 
Provision for income taxes    
(12,311
)    
(7,557
)    
(8,251
)
                         
Income before equity in undistributed net income of subsidiaries    
53,295
     
71,742
     
70,088
 
Equity in undistributed net income of subsidiaries    
39,645
     
25,072
     
4,276
 
                         
NET INCOME    
92,940
     
96,814
     
74,364
 
Preferred stock dividends    
--
     
24
     
257
 
                         
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS   $
92,940
    $
96,790
    $
74,107
 
 
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED
DECEMBER 31, 2017,
2016
and
2015
 
(In thousands)   2017   2016   2015
             
NET INCOME   $
92,940
    $
96,814
    $
74,364
 
                         
OTHER COMPREHENSIVE INCOME                        
Equity in other comprehensive income (loss) income of subsidiaries    
964
     
(12,547
)    
(1,329
)
                         
COMPREHENSIVE INCOME   $
93,904
    $
84,267
    $
73,035
 
 
 
CONDENSED STATEMENTS OF CASH FLOWS
YEARS ENDED
DECEMBER 31, 2017,
2016
and
2015
 
(In thousands)   2017   2016   2015
             
CASH FLOWS FROM OPERATING ACTIVITIES                        
                         
Net income   $
92,940
    $
96,814
    $
74,364
 
Items not requiring (providing) cash                        
Stock-based compensation expense    
10,681
     
3,418
     
4,018
 
Depreciation and amortization    
1,183
     
700
     
317
 
Deferred income taxes    
1,190
     
(2,526
)    
1,287
 
Equity in undistributed net income of bank subsidiaries    
(39,645
)    
(25,072
)    
(4,276
)
                         
Changes in                        
Other assets    
8,585
     
2,816
     
(15,232
)
Other liabilities    
(6,769
)    
(1,358
)    
13,121
 
Net cash provided by operating activities    
68,165
     
74,792
     
73,599
 
                         
CASH FLOWS FROM INVESTING ACTIVITIES                        
                         
Net originations of loans    
90
     
(1,710
)    
--
 
Net purchases of premises and equipment    
(18
)    
(6,896
)    
56
 
Additional investment in subsidiary    
(15,000
)    
--
     
--
 
Proceeds from maturities of available-for-sale securities    
42
     
1,973
     
--
 
Purchases of available-for-sale securities    
(2,752
)    
(3
)    
(354
)
Cash received (paid) in business combinations    
(100,468
)    
(35,048
)    
44,173
 
Net cash (used in) provided by investing activities    
(118,106
)    
(41,684
)    
43,875
 
                         
CASH FLOWS FROM FINANCING ACTIVITIES                        
                         
Issuance (repayment) of long-term debt, net    
8,014
     
(4,544
)    
8,126
 
Issuance of common stock, net    
2,878
     
4,938
     
3,529
 
Dividends paid on preferred stock    
--
     
(24
)    
(257
)
Dividends paid on common stock    
(35,116
)    
(28,743
)    
(27,026
)
Redemption of preferred stock    
--
     
(30,852
)    
--
 
Net cash used in financing activities    
(24,224
)    
(59,225
)    
(15,628
)
                         
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS    
(74,165
)    
(26,117
)    
101,846
 
                         
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR    
93,266
     
119,383
     
17,537
 
                         
CASH AND CASH EQUIVALENTS, END OF YEAR   $
19,101
    $
93,266
    $
119,383