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Parent Company Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2017
Parent Company Financial Statements [Abstract]  
Condensed Balance Sheets
Condensed Balance Sheets

(in thousands)
December 31
 
2017
  
2016
 
Assets:
      
Cash on deposit
 
$
1,500
  
$
1,525
 
Investment in and advances to subsidiaries
  
587,575
   
556,975
 
Goodwill
  
4,973
   
4,973
 
Premises and equipment, net
  
250
   
142
 
Other assets
  
200
   
391
 
Total assets
 
$
594,498
  
$
564,006
 
         
Liabilities and shareholders’ equity:
        
Long-term debt
 
$
61,341
  
$
61,341
 
Other liabilities
  
2,458
   
2,050
 
Total liabilities
  
63,799
   
63,391
 
         
Shareholders’ equity
  
530,699
   
500,615
 
         
Total liabilities and shareholders’ equity
 
$
594,498
  
$
564,006
 
Condensed Statements of Income and Comprehensive Income
Condensed Statements of Income and Comprehensive Income

(in thousands)
Year Ended December 31
 
2017
  
2016
  
2015
 
Income:
         
Dividends from subsidiary banks
 
$
24,661
  
$
20,708
  
$
19,808
 
Other income
  
904
   
459
   
414
 
Total income
  
25,565
   
21,167
   
20,222
 
             
Expenses:
            
Interest expense
  
1,723
   
1,417
   
1,170
 
Depreciation expense
  
116
   
107
   
130
 
Other expenses
  
2,858
   
2,256
   
2,465
 
Total expenses
  
4,697
   
3,780
   
3,765
 
             
Income before income taxes and equity in undistributed income of subsidiaries
  
20,868
   
17,387
   
16,457
 
Income tax benefit
  
(1,445
)
  
(1,373
)
  
(1,371
)
Income before equity in undistributed income of subsidiaries
  
22,313
   
18,760
   
17,828
 
Equity in undistributed income of subsidiaries
  
29,180
   
28,586
   
28,604
 
             
Net income
 
$
51,493
  
$
47,346
  
$
46,432
 
             
Other comprehensive loss:
            
Unrealized holding losses on securities available-for-sale:
            
Unrealized holding losses arising during the period
  
(820
)
  
(4,578
)
  
(342
)
Less: Reclassification adjustments for realized gains (losses) included in net income
  
73
   
522
   
(106
)
Tax benefit
  
(312
)
  
(1,785
)
  
(83
)
Implementation of ASU 2018-02
  
(621
)
  
0
   
0
 
Other comprehensive loss, net of tax
  
(1,202
)
  
(3,315
)
  
(153
)
Comprehensive income
 
$
50,291
  
$
44,031
  
$
46,279
 
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows

(in thousands)
Year Ended December 31
 
2017
  
2016
  
2015
 
Cash flows from operating activities:
         
Net income
 
$
51,493
  
$
47,346
  
$
46,432
 
Adjustments to reconcile net income to net cash provided by operating activities:
            
Depreciation
  
116
   
107
   
130
 
Equity in undistributed earnings of subsidiaries
  
(29,180
)
  
(28,586
)
  
(28,604
)
Stock-based compensation
  
636
   
458
   
783
 
Excess tax benefits of stock-based compensation
  
0
   
100
   
104
 
Gain on debt repurchase
  
(560
)
  
0
   
0
 
Changes in:
            
Other assets
  
145
   
519
   
240
 
Other liabilities
  
412
   
(90
)
  
968
 
Net cash provided by operating activities
  
23,062
   
19,854
   
20,053
 
             
Cash flows from investing activities:
            
Payment for investment in subsidiary
  
(1,440
)
  
0
   
0
 
Purchase of premises and equipment
  
(179
)
  
(104
)
  
(45
)
Net cash used in investing activities
  
(1,619
)
  
(104
)
  
(45
)
             
Cash flows from financing activities:
            
Issuance of common stock
  
1,513
   
2,985
   
2,082
 
Repurchase of common stock
  
0
   
(382
)
  
(189
)
Excess tax benefits of stock-based compensation
  
0
   
(100
)
  
(104
)
Dividends paid
  
(22,981
)
  
(22,190
)
  
(21,330
)
Net cash used in financing activities
  
(21,468
)
  
(19,687
)
  
(19,541
)
             
Net increase (decrease) in cash and cash equivalents
  
(25
)
  
63
   
467
 
Cash and cash equivalents at beginning of year
  
1,525
   
1,462
   
995
 
Cash and cash equivalents at end of year
 
$
1,500
  
$
1,525
  
$
1,462