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PARENT COMPANY STATEMENTS | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY STATEMENTS | NOTE 19 – PARENT COMPANY STATEMENTS The Company operates primarily in the banking industry, which accounts for substantially all of its revenues, operating income and assets. Presented below are parent only financial statements: CONDENSED BALANCE SHEETS
| December 31,
(dollars in thousands) | 2018 |  | 2017
ASSETS |  |  |
Deposits with Lake City Bank | $1,283 |  | $850
Deposits with other depository institutions | 7,613 |  | 4,969
Cash | 8,896 |  | 5,819
Investments in banking subsidiary | 533,442 |  | 482,585
Investments in other subsidiaries | 3,992 |  | 3,552
Other assets | 6,468 |  | 7,789
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $552,798 |  | $499,745
LIABILITIES |  |  |
Dividends payable and other liabilities | $255 |  | $239
Subordinated debt | 30,928 |  | 30,928
STOCKHOLDERS' EQUITY | 521,615 |  | 468,578
Total liabilities and stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $552,798 |  | $499,745
CONDENSED STATEMENTS OF INCOME
| Years Ended December 31,
(dollars in thousands) | 2018 |  | 2017 |  | 2016
Dividends from Lake City Bank | $27,933 |  | $21,822 |  | $20,622
Dividends from non-bank subsidiaries | 1,010 |  | 1,030 |  | 1,035
Other income | 171 |  | 57 |  | 50
Interest expense on subordinated debt | (1,643) |  | (1,349) |  | (1,190)
Miscellaneous expense | (6,422) |  | (6,491) |  | (5,006)
INCOME BEFORE INCOME TAXES AND EQUITY IN |  |  |  |  |
UNDISTRIBUTED INCOME OF SUBSIDIARIES | 21,049 |  | 15,069 |  | 15,511
Income tax benefit | 2,795 |  | 2,688 |  | 2,483
INCOME BEFORE EQUITY IN UNDISTRIBUTED |  |  |  |  |
INCOME OF SUBSIDIARIES | 23,844 |  | 17,757 |  | 17,994
Equity in undistributed income of subsidiaries | 56,567 |  | 39,573 |  | 34,090
NET INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $80,411 |  | $57,330 |  | $52,084
COMPREHENSIVE INCOME | $75,131 |  | $59,047 |  | $47,555
CONDENSED STATEMENTS OF CASH FLOWS
| Years Ended December 31,
(dollars in thousands) | 2018 |  | 2017 |  | 2016
Cash flows from operating activities: |  |  |  |  |
Net income | $80,411 |  | $57,330 |  | $52,084
Adjustments to net cash from operating activities: |  |  |  |  |
Equity in undistributed income of subsidiaries | (56,567) |  | (39,573) |  | (34,090)
Other changes | 7,294 |  | 3,586 |  | 3,818
Net cash from operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 31,138 |  | 21,343 |  | 21,812
Cash flows from financing activities |  |  |  |  |
Proceeds (Payments) related to equity incentive plans | (2,435) |  | (1,736) |  | 614
Purchase of treasury stock | (463) |  | (495) |  | (458)
Sales of treasury stock | 115 |  | 0 |  | 0
Dividends paid | (25,278) |  | (21,396) |  | (18,200)
Cash flows from financing activities | (28,061 | ) | (23,627) |  | (18,044)
Net increase in cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3,077 |  | (2,284) |  | 3,768
Cash and cash equivalents at beginning of the year | 5,819 |  | 8,103 |  | 4,335
Cash and cash equivalents at end of the year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $8,896 |  | $5,819 |  | $8,103

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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