Annual report pursuant to Section 13 and 15(d)

PARENT COMPANY FINANCIAL INFORMATION (CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME) (Details)

v3.20.4
PARENT COMPANY FINANCIAL INFORMATION (CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income:      
Interest and dividend income $ 653,454 $ 699,332 $ 528,788
Other operating income 6,098 17,791 7,145
Expenses:      
Interest expense 98,156 161,460 102,097
Other expenses 28,419 25,254 20,217
Income before income taxes 186,294 231,255 179,429
Income tax benefit 28,066 37,557 30,016
Net income [1],[2] 158,228 193,528 146,248
Parent Company      
Income:      
Interest and dividend income 0 3 0
Dividends received from subsidiaries 97,880 160,033 50,750
Other operating income 1,338 1,484 2,719
Total income 99,218 161,520 53,469
Expenses:      
Interest expense 13,506 15,935 15,253
Other expenses 8,249 11,434 13,782
Total expenses 21,755 27,369 29,035
Income before income taxes 77,463 134,151 24,434
Income tax benefit (5,439) (6,499) (6,176)
Equity in undistributed net income from subsidiaries 75,326 52,878 115,638
Net income 158,228 193,528 146,248
Comprehensive income $ 193,668 $ 239,376 $ 136,905
[1] Discontinued operations have an immaterial impact to the Company’s Consolidated Statements of Cash Flows. The change in goodwill impairment losses included in the Operating Activities section above are attributable to discontinued operations.
[2] Loans held for sale activity is included in the Operating Activities section above. Due to the increased mortgage related activity during 2020 and 2019, the loans held for sale activity is segregated between originations and purchases of loans held for sale and proceeds from sales of loans held for sale. 2018 loans held for sale activity is included in the change in loans held for sale and is attributable to discontinued operations which has an immaterial impact on the Company’s Consolidated Statements of Cash Flows.