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Condensed Parent Company Only Financial Statements
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Parent Company Only Financial Statements
CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS
Condensed financial statements of the Parent are shown below. The Parent has no significant operating activities.
Condensed Balance Sheets
(Dollars in thousands)
December 31
2015
 
2014
Assets
 
 
 
Cash in bank
$
154,298

 
$
36,064

Investments in subsidiaries
2,449,325

 
1,841,420

Other assets
54,454

 
119,493

 
$
2,658,077

 
$
1,996,977

Liabilities and Shareholders’ Equity
 
 
 
Liabilities
$
159,242

 
$
144,829

Shareholders’ equity
2,498,835

 
1,852,148

 
$
2,658,077

 
$
1,996,977



Condensed Statements of Income
 
Year Ended December 31
(Dollars in thousands)
2015
 
2014
 
2013
Operating income
 
 
 
 
 
Dividends from bank subsidiary
$
—

 
$
—

 
$
49,000

Dividends from non-bank subsidiaries
—

 
—

 
1,511

Reimbursement of management expenses
59,255

 
46,433

 
34,474

Other income
(329
)
 
437

 
869

Total operating income
58,926

 
46,870

 
85,854

Operating expenses
 
 
 
 
 
Interest expense
3,393

 
3,224

 
3,232

Salaries and employee benefits expense
41,689

 
31,981

 
29,159

Other expenses
17,492

 
14,576

 
13,651

Total operating expenses
62,574

 
49,781

 
46,042

Income (loss) before income tax benefit and increase in equity in undistributed earnings of subsidiaries
(3,648
)
 
(2,911
)
 
39,812

Income tax expense (benefit)
800

 
(518
)
 
(2,808
)
Income (loss) before equity in undistributed earnings of subsidiaries
(4,448
)
 
(2,393
)
 
42,620

Equity in undistributed earnings of subsidiaries
147,292

 
107,775

 
22,508

Net income
$
142,844

 
$
105,382

 
$
65,128



Condensed Statements of Cash Flows
(Dollars in thousands)
Year Ended December 31
2015
 
2014
 
2013
Cash Flow from Operating Activities
 
 
 
 
 
Net income
$
142,844

 
$
105,382

 
$
65,128

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
Depreciation and amortization
416

 
595

 
2,035

Net income of subsidiaries
(147,292
)
 
(107,775
)
 
(73,044
)
Share-based compensation cost
13,906

 
11,985

 
10,703

Gain on sale of assets
(110
)
 
—

 
—

Tax benefit associated with share-based payment arrangements
(580
)
 
(2,105
)
 
(886
)
Other, net
82,105

 
(27,274
)
 
7,575

Net Cash Provided by (Used in) Operating Activities
91,289

 
(19,192
)
 
11,511

Cash Flow from Investing Activities
 
 
 
 
 
Cash paid in excess of cash received for acquisitions
(5,054
)
 
4,783

 
—

Proceeds from sale of premises and equipment
12

 
—

 
11,751

Purchases of premises and equipment
(2
)
 
(36
)
 
(5,247
)
Return of capital from (Capital contributed to) subsidiary
5,000

 
(14,600
)
 
—

Dividends received from subsidiaries
—

 
—

 
50,511

Net Cash (Used in) Provided by Investing Activities
(44
)
 
(9,853
)
 
57,015

Cash Flow from Financing Activities
 
 
 
 
 
Cash dividends paid on common stock
(52,318
)
 
(43,070
)
 
(40,332
)
Proceeds from common stock transactions
5,535

 
11,693

 
8,101

Payments to repurchase common stock
(3,620
)
 
(3,727
)
 
(2,280
)
Net proceeds from issuance of preferred stock
76,812

 
—

 
—

Tax benefit associated with share-based payment arrangements
580

 
2,105

 
886

Net Cash Provided by (Used In) Financing Activities
26,989

 
(32,999
)
 
(33,625
)
Net Increase (Decrease) in Cash and Cash Equivalents
118,234

 
(62,044
)
 
34,901

Cash and Cash Equivalents at Beginning of Period
36,064

 
98,108

 
63,207

Cash and Cash Equivalents at End of Period
$
154,298

 
$
36,064

 
$
98,108