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Parent Company Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2018
Parent Company Financial Statements [Abstract] |
Condensed Balance Sheets | Condensed Balance Sheets
(in thousands) December 31 |  | 2018 |  |  | 2017 |
Assets: |  |  |  |  |  |
Cash on deposit |  | $ | 1,939 |  |  | $ | 1,500 |
Investment in and advances to subsidiaries |  |  | 620,701 |  |  |  | 587,575 |
Goodwill |  |  | 4,973 |  |  |  | 4,973 |
Premises and equipment, net |  |  | 219 |  |  |  | 250 |
Other assets |  |  | 238 |  |  |  | 200 |
Total assets |  | $ | 628,070 |  |  | $ | 594,498 |
Liabilities and shareholders’ equity: |  |  |  |  |  |  |  |
Long-term debt |  | $ | 61,341 |  |  | $ | 61,341 |
Other liabilities |  |  | 2,579 |  |  |  | 2,458 |
Total liabilities |  |  | 63,920 |  |  |  | 63,799 |
Shareholders’ equity |  |  | 564,150 |  |  |  | 530,699 |
Total liabilities and shareholders’ equity |  | $ | 628,070 |  |  | $ | 594,498 |
Condensed Statements of Income and Comprehensive Income | Condensed Statements of Income and Comprehensive Income
(in thousands) Year Ended December 31 |  | 2018 |  |  | 2017 |  |  | 2016 |
Income: |  |  |  |  |  |  |  |  |
Dividends from subsidiary banks |  | $ | 26,750 |  |  | $ | 24,661 |  |  | $ | 20,708 |
Other income |  |  | 489 |  |  |  | 904 |  |  |  | 459 |
Total income |  |  | 27,239 |  |  |  | 25,565 |  |  |  | 21,167 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 2,318 |  |  |  | 1,723 |  |  |  | 1,417 |
Depreciation expense |  |  | 135 |  |  |  | 116 |  |  |  | 107 |
Other expenses |  |  | 3,156 |  |  |  | 2,858 |  |  |  | 2,256 |
Total expenses |  |  | 5,609 |  |  |  | 4,697 |  |  |  | 3,780 |
Income before income taxes and equity in undistributed income of subsidiaries |  |  | 21,630 |  |  |  | 20,868 |  |  |  | 17,387 |
Income tax benefit |  |  | (1,219 | ) |  |  | (1,445 | ) |  |  | (1,373 | )
Income before equity in undistributed income of subsidiaries |  |  | 22,849 |  |  |  | 22,313 |  |  |  | 18,760 |
Equity in undistributed income of subsidiaries |  |  | 36,379 |  |  |  | 29,180 |  |  |  | 28,586 |
Net income |  | $ | 59,228 |  |  | $ | 51,493 |  |  | $ | 47,346 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses on securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding losses arising during the period |  |  | (5,393 | ) |  |  | (820 | ) |  |  | (4,578 | )
Less: Reclassification adjustments for realized gains included in net income |  |  | (821 | ) |  |  | 73 |  |  |  | 522 |
Tax benefit |  |  | (960 | ) |  |  | (312 | ) |  |  | (1,785 | )
Other comprehensive loss, net of tax |  |  | (3,612 | ) |  |  | (581 | ) |  |  | (3,315 | )
Comprehensive income |  | $ | 55,616 |  |  | $ | 50,912 |  |  | $ | 44,031 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
(in thousands) Year Ended December 31 |  | 2018 |  |  | 2017 |  |  | 2016 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 59,228 |  |  | $ | 51,493 |  |  | $ | 47,346 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 135 |  |  |  | 116 |  |  |  | 107 |
Equity in undistributed earnings of subsidiaries |  |  | (36,379 | ) |  |  | (29,180 | ) |  |  | (28,586 | )
Stock-based compensation |  |  | 710 |  |  |  | 636 |  |  |  | 458 |
Excess tax benefits of stock-based compensation |  |  | 0 |  |  |  | 0 |  |  |  | 100 |
Gain on debt repurchase |  |  | 0 |  |  |  | (560 | ) |  |  | 0 |
Changes in: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  | (62 | ) |  |  | 145 |  |  |  | 519 |
Other liabilities |  |  | 53 |  |  |  | 412 |  |  |  | (90 | )
Net cash provided by operating activities |  |  | 23,685 |  |  |  | 23,062 |  |  |  | 19,854 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Payment for investment in subsidiary |  |  | 0 |  |  |  | (1,440 | ) |  |  | 0 |
Purchase of premises and equipment |  |  | (81 | ) |  |  | (179 | ) |  |  | (104 | )
Net cash used in investing activities |  |  | (81 | ) |  |  | (1,619 | ) |  |  | (104 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | 1,230 |  |  |  | 1,513 |  |  |  | 2,985 |
Repurchase of common stock |  |  | 0 |  |  |  | 0 |  |  |  | (382 | )
Excess tax benefits of stock-based compensation |  |  | 0 |  |  |  | 0 |  |  |  | (100 | )
Dividends paid |  |  | (24,395 | ) |  |  | (22,981 | ) |  |  | (22,190 | )
Net cash used in financing activities |  |  | (23,165 | ) |  |  | (21,468 | ) |  |  | (19,687 | )
Net increase (decrease) in cash and cash equivalents |  |  | 439 |  |  |  | (25 | ) |  |  | 63 |
Cash and cash equivalents at beginning of year |  |  | 1,500 |  |  |  | 1,525 |  |  |  | 1,462 |
Cash and cash equivalents at end of year |  | $ | 1,939 |  |  | $ | 1,500 |  |  | $ | 1,525 |

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