XML 66 R51.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Parent Company Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Parent Company Financial Statements [Abstract] |
Schedule of Parent Company Financial Statements | Condensed Balance Sheets
(in thousands) December 31 |  | 2015 |  |  | 2014 |
Assets: |  |  |  |  |  |
Cash on deposit |  | $ | 1,462 |  |  | $ | 995 |
Investment in and advances to subsidiaries |  |  | 531,702 |  |  |  | 503,252 |
Goodwill |  |  | 4,973 |  |  |  | 4,973 |
Premises and equipment, net |  |  | 145 |  |  |  | 207 |
Other assets |  |  | 911 |  |  |  | 1,173 |
Total assets |  | $ | 539,193 |  |  | $ | 510,600 |
Liabilities and shareholders' equity: |  |  |  |  |  |  |  |
Long-term debt |  | $ | 61,341 |  |  | $ | 61,341 |
Other liabilities |  |  | 2,269 |  |  |  | 1,382 |
Total liabilities |  |  | 63,610 |  |  |  | 62,723 |
Shareholders' equity |  |  | 475,583 |  |  |  | 447,877 |
Total liabilities and shareholders' equity |  | $ | 539,193 |  |  | $ | 510,600 |
Condensed Statements of Income and Comprehensive Income
(in thousands) Year Ended December 31 |  | 2015 |  |  | 2014 |  |  | 2013 |
Income: |  |  |  |  |  |  |  |  |
Dividends from subsidiary banks |  | $ | 19,808 |  |  | $ | 19,534 |  |  | $ | 13,035 |
Other income |  |  | 414 |  |  |  | 196 |  |  |  | 545 |
Total income |  |  | 20,222 |  |  |  | 19,730 |  |  |  | 13,580 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 1,170 |  |  |  | 1,131 |  |  |  | 1,161 |
Depreciation expense |  |  | 130 |  |  |  | 153 |  |  |  | 163 |
Other expenses |  |  | 2,465 |  |  |  | 2,550 |  |  |  | 2,442 |
Total expenses |  |  | 3,765 |  |  |  | 3,834 |  |  |  | 3,766 |
Income before income taxes and equity in undistributed income of subsidiaries |  |  | 16,457 |  |  |  | 15,896 |  |  |  | 9,814 |
Income tax benefit |  |  | (1,371 | ) |  |  | (1,548 | ) |  |  | (1,416 | )
Income before equity in undistributed income of subsidiaries |  |  | 17,828 |  |  |  | 17,444 |  |  |  | 11,230 |
Equity in undistributed income of subsidiaries |  |  | 28,604 |  |  |  | 25,807 |  |  |  | 33,942 |
Net income |  | $ | 46,432 |  |  | $ | 43,251 |  |  | $ | 45,172 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) arising during the period |  |  | (342 | ) |  |  | 13,928 |  |  |  | (31,878 | )
Less: Reclassification adjustments for realized losses included in net income |  |  | (106 | ) |  |  | (211 | ) |  |  | (45 | )
Tax expense (benefit) |  |  | (83 | ) |  |  | 4,949 |  |  |  | (11,142 | )
Other comprehensive income (loss), net of tax |  |  | (153 | ) |  |  | 9,190 |  |  |  | (20,691 | )
Comprehensive income |  | $ | 46,279 |  |  | $ | 52,441 |  |  | $ | 24,481 |
Condensed Statements of Cash Flows
(in thousands) Year Ended December 31 |  | 2015 |  |  | 2014 |  |  | 2013 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 46,432 |  |  | $ | 43,251 |  |  | $ | 45,172 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 130 |  |  |  | 153 |  |  |  | 163 |
Equity in undistributed earnings of subsidiaries |  |  | (28,604 | ) |  |  | (25,807 | ) |  |  | (33,942 | )
Stock-based compensation |  |  | 783 |  |  |  | 838 |  |  |  | 658 |
Excess tax benefits of stock-based compensation |  |  | 104 |  |  |  | 760 |  |  |  | 572 |
Changes in: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  | 240 |  |  |  | (558 | ) |  |  | 660 |
Other liabilities |  |  | 968 |  |  |  | 563 |  |  |  | 1,505 |
Net cash provided by operating activities |  |  | 20,053 |  |  |  | 19,200 |  |  |  | 14,788 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Purchase of premises and equipment |  |  | (45 | ) |  |  | (125 | ) |  |  | (148 | )
Repayment of investments in and advances to subsidiaries |  |  | 0 |  |  |  | (14 | ) |  |  | (40 | )
Net cash used in investing activities |  |  | (45 | ) |  |  | (139 | ) |  |  | (188 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | 2,082 |  |  |  | 1,992 |  |  |  | 6,348 |
Netting of common stock |  |  | (189 | ) |  |  | 0 |  |  |  | 0 |
Excess tax benefits of stock-based compensation |  |  | (104 | ) |  |  | (760 | ) |  |  | (572 | )
Dividends paid |  |  | (21,330 | ) |  |  | (20,570 | ) |  |  | (24,546 | )
Net cash used in financing activities |  |  | (19,541 | ) |  |  | (19,338 | ) |  |  | (18,770 | )
Net increase (decrease) in cash and cash equivalents |  |  | 467 |  |  |  | (277 | ) |  |  | (4,170 | )
Cash and cash equivalents at beginning of year |  |  | 995 |  |  |  | 1,272 |  |  |  | 5,442 |
Cash and cash equivalents at end of year |  | $ | 1,462 |  |  | $ | 995 |  |  | $ | 1,272 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedFinancialStatementsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration