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Parent Company Only Financial Information | 12 Months Ended
--- | ---
Dec. 31, 2019
Notes to Financial Statements |
Condensed Financial Statements [Text Block] | 23. Parent Company Only Financial Information Earnings of the Bank are recognized by the Holding Company using the equity method of accounting. Accordingly, earnings of the Bank are recorded as increases in the Holding Company’s investment, any dividends would reduce the Holding Company’s investment in the Bank, and any changes in the Bank’s unrealized gain or loss on securities available for sale, net of taxes, would increase or decrease, respectively, the Holding Company’s investment in the Bank. The condensed financial statements for the Holding Company are presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
Condensed Statements of Financial Condition |  | 2019 |  | 2018
​ | ​ | (Dollars in thousands)
Assets: | ​ |  | ​ | ​ |  | ​
Cash and due from banks | ​ | $ | 14,401 | ​ | $ | 4,351
Securities available for sale: | ​ |  |  | ​ |  |
Other securities | ​ |  | 1,332 | ​ |  | 1,256
Investment in Bank | ​ |  | 684,643 | ​ |  | 661,044
Goodwill | ​ |  | 2,185 | ​ |  | 2,185
Other assets | ​ |  | 1,897 | ​ |  | 2,929
Total assets | ​ | $ | 704,458 | ​ | $ | 671,765
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ |  |
Subordinated debentures | ​ | $ | 74,319 | ​ | $ | 74,001
Junior subordinated debentures, at fair value | ​ |  | 44,384 | ​ |  | 41,849
Other liabilities | ​ |  | 6,083 | ​ |  | 6,451
Total liabilities | ​ |  | 124,786 | ​ |  | 122,301
​ | ​ | ​ | ​ | ​ | ​ | ​
Stockholders' Equity: | ​ |  |  | ​ |  |
Common stock | ​ |  | 315 | ​ |  | 315
Additional paid-in capital | ​ |  | 226,691 | ​ |  | 222,720
Treasury stock, at average cost (3,373,389 shares and 3,546,958 at December 31, 2019 and 2018, respectively) | ​ |  | (71,487) | ​ |  | (75,146)
Retained earnings | ​ |  | 433,960 | ​ |  | 414,327
Accumulated other comprehensive loss, net of taxes | ​ |  | (9,807) | ​ |  | (12,752)
Total equity | ​ |  | 579,672 | ​ |  | 549,464
​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities and equity | ​ | $ | 704,458 | ​ | $ | 671,765
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the years ended December 31,
Condensed Statements of Income |  | 2019 |  | 2018 |  | 2017
​ | ​ | (In thousands)
Dividends from the Bank | ​ | $ | 32,000 | ​ | $ | 34,000 | ​ | $ | 21,500
Interest income | ​ |  | 250 | ​ |  | 275 | ​ |  | 505
Interest expense | ​ |  | (6,677) | ​ |  | (6,479) | ​ |  | (5,860)
Net loss from fair value adjustments | ​ |  | (2,725) | ​ |  | (4,769) | ​ |  | (2,903)
Other operating expenses | ​ |  | (2,833) | ​ |  | (1,391) | ​ |  | (1,354)
Income before taxes and equity in undistributed earnings of subsidiary | ​ |  | 20,015 | ​ |  | 21,636 | ​ |  | 11,888
Income tax benefit | ​ |  | 3,173 | ​ |  | 3,907 | ​ |  | 6,926
Income before equity in undistributed earnings of subsidiary | ​ |  | 23,188 | ​ |  | 25,543 | ​ |  | 18,814
Equity in undistributed earnings of the Bank | ​ |  | 18,091 | ​ |  | 29,547 | ​ |  | 22,307
Net income | ​ |  | 41,279 | ​ |  | 55,090 | ​ |  | 41,121
Other comprehensive gain (loss), net of tax | ​ |  | 2,945 | ​ |  | (2,472) | ​ |  | (624)
Comprehensive net income | ​ | $ | 44,224 | ​ | $ | 52,618 | ​ | $ | 40,497
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the years ended December 31,
Condensed Statements of Cash Flows |  | 2019 |  | 2018 |  | 2017
​ | ​ | (In thousands)
Operating activities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Net income | ​ | $ | 41,279 | ​ | $ | 55,090 | ​ | $ | 41,121
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed earnings of the Bank | ​ |  | (18,091) | ​ |  | (29,547) | ​ |  | (22,307)
Deferred income tax benefit | ​ |  | (769) | ​ |  | (1,915) | ​ |  | (3,990)
Fair value adjustments for financial assets and financial liabilities | ​ |  | 2,725 | ​ |  | 4,769 | ​ |  | 2,903
Stock-based compensation expense | ​ |  | 7,763 | ​ |  | 7,016 | ​ |  | 5,990
Net change in operating assets and liabilities | ​ |  | 3,945 | ​ |  | 4,246 | ​ |  | 2,453
Net cash provided by operating activities | ​ |  | 36,852 | ​ |  | 39,659 | ​ |  | 26,170
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from sales and calls of securities available for sale | ​ |  | — | ​ |  | — | ​ |  | 300
Net cash provided by investing activities | ​ |  | — | ​ |  | — | ​ |  | 300
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Purchase of treasury stock | ​ |  | (2,656) | ​ |  | (22,585) | ​ |  | (9,290)
Cash dividends paid | ​ |  | (24,149) | ​ |  | (22,927) | ​ |  | (20,954)
Stock options exercised | ​ |  | 3 | ​ |  | 6 | ​ |  | —
Net cash used in financing activities | ​ |  | (26,802) | ​ |  | (45,506) | ​ |  | (30,244)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (decrease) increase in cash and cash equivalents | ​ |  | 10,050 | ​ |  | (5,847) | ​ |  | (3,774)
Cash and cash equivalents, beginning of year | ​ |  | 4,351 | ​ |  | 10,198 | ​ |  | 13,972
Cash and cash equivalents, end of year | ​ | $ | 14,401 | ​ | $ | 4,351 | ​ | $ | 10,198
​

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