Note 22 - Parent Company Financial Information (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Notes Tables |
|
| Condensed Balance Sheet [Table Text Block] |
| CONDENSED BALANCE SHEETS |
|
| (In Thousands) |
|
| |
|
December 31, 2022 |
|
|
December 31, 2021 |
|
| ASSETS |
|
|
|
|
|
|
|
|
| Cash and due from banks |
|
$ |
19,292 |
|
|
$ |
14,553 |
|
| Investment in subsidiary |
|
|
1,357,058 |
|
|
|
1,212,850 |
|
| Other assets |
|
|
983 |
|
|
|
1,291 |
|
| Total assets |
|
$ |
1,377,333 |
|
|
$ |
1,228,694 |
|
| |
|
|
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Other borrowings |
|
$ |
64,726 |
|
|
$ |
64,706 |
|
| Other liabilities |
|
|
15,211 |
|
|
|
12,473 |
|
| Total liabilities |
|
|
79,937 |
|
|
|
77,179 |
|
| Stockholders' equity: |
|
|
|
|
|
|
|
|
| Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2022 and December 31, 2021 |
|
|
- |
|
|
|
- |
|
| Common stock, par value $0.001 per share; 200,000,000 shares authorized and 54,329,527 shares issued and outstanding at December 31, 2022; and 100,000,000 shares authorized and 54,227,060 shares issued and outstanding at December 31, 2021 |
|
|
54 |
|
|
|
54 |
|
| Additional paid-in capital |
|
|
229,693 |
|
|
|
226,397 |
|
| Retained earnings |
|
|
1,109,902 |
|
|
|
911,008 |
|
| Accumulated other comprehensive (loss) income |
|
|
(42,253 |
) |
|
|
14,056 |
|
| Total stockholders' equity |
|
|
1,297,396 |
|
|
|
1,151,515 |
|
| Total liabilities and stockholders' equity |
|
$ |
1,377,333 |
|
|
$ |
1,228,694 |
|
|
| Condensed Income Statement [Table Text Block] |
| CONDENSED STATEMENTS OF INCOME |
|
| FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 and 2020 |
|
| (In Thousands) |
|
| |
|
2022 |
|
|
2021 |
|
|
2020 |
|
| Income: |
|
|
|
|
|
|
|
|
|
|
|
|
| Dividends received from subsidiary |
|
$ |
57,500 |
|
|
$ |
46,000 |
|
|
$ |
45,000 |
|
| Total income |
|
|
57,500 |
|
|
|
46,000 |
|
|
|
45,000 |
|
| Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
| Other expenses |
|
|
2,760 |
|
|
|
2,715 |
|
|
|
2,936 |
|
| Total expenses |
|
|
2,760 |
|
|
|
2,715 |
|
|
|
2,936 |
|
| Equity in undistributed earnings of subsidiary |
|
|
196,764 |
|
|
|
164,387 |
|
|
|
127,442 |
|
| Net income |
|
|
251,504 |
|
|
|
207,672 |
|
|
|
169,506 |
|
| Net income available to common stockholders |
|
$ |
251,504 |
|
|
$ |
207,672 |
|
|
$ |
169,506 |
|
|
| Condensed Cash Flow Statement [Table Text Block] |
| STATEMENTS OF CASH FLOW |
|
| FOR THE YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 |
|
| (In Thousands) |
|
| |
|
2022 |
|
|
2021 |
|
|
2020 |
|
| Operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
251,504 |
|
|
$ |
207,672 |
|
|
$ |
169,506 |
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Other |
|
|
661 |
|
|
|
(93 |
) |
|
|
204 |
|
| Equity in undistributed earnings of subsidiary |
|
|
(196,764 |
) |
|
|
(164,387 |
) |
|
|
(127,442 |
) |
| Net cash provided by operating activities |
|
|
55,401 |
|
|
|
43,192 |
|
|
|
42,268 |
|
| Investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Other |
|
|
(750 |
) |
|
|
(120 |
) |
|
|
- |
|
| Net cash used in investing activities |
|
|
(750 |
) |
|
|
(120 |
) |
|
|
- |
|
| Financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from issuance of subordinated notes |
|
|
- |
|
|
|
- |
|
|
|
34,710 |
|
| Redemption of subordinated notes |
|
|
- |
|
|
|
- |
|
|
|
(34,750 |
) |
| Dividends paid on common stock |
|
|
(49,942 |
) |
|
|
(43,204 |
) |
|
|
(37,614 |
) |
| Net cash used in financing activities |
|
|
(49,942 |
) |
|
|
(43,204 |
) |
|
|
(37,654 |
) |
| Net change in cash and cash equivalents |
|
|
4,709 |
|
|
|
(132 |
) |
|
|
4,614 |
|
| Cash and cash equivalents at beginning of year |
|
|
14,553 |
|
|
|
14,685 |
|
|
|
10,071 |
|
| Cash and cash equivalents at end of year |
|
$ |
19,262 |
|
|
$ |
14,553 |
|
|
$ |
14,685 |
|
|