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Parent Company Financial Statements | 12 Months Ended
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Dec. 31, 2020
Parent Company Financial Statements [Abstract] |
Parent Company Financial Statements | 21. Parent Company Financial Statements Condensed Balance Sheets
(in thousands) December 31 |  | 2020 |  |  | 2019 |
Assets: |  |  |  |  |  |
Cash on deposit |  | $ | 1,505 |  |  | $ | 2,089 |
Investment in and advances to subsidiaries |  |  | 707,943 |  |  |  | 667,206 |
Goodwill |  |  | 4,973 |  |  |  | 4,973 |
Premises and equipment, net |  |  | 96 |  |  |  | 153 |
Deferred tax asset |  |  | 4,649 |  |  |  | 5,100 |
Other assets |  |  | 45 |  |  |  | 44 |
Total assets |  | $ | 719,211 |  |  | $ | 679,565 |
Liabilities and shareholders’ equity: |  |  |  |  |  |  |  |
Long-term debt |  | $ | 61,341 |  |  | $ | 61,341 |
Other liabilities |  |  | 3,005 |  |  |  | 3,338 |
Total liabilities |  |  | 64,346 |  |  |  | 64,679 |
Shareholders’ equity |  |  | 654,865 |  |  |  | 614,886 |
Total liabilities and shareholders’ equity |  | $ | 719,211 |  |  | $ | 679,565 |
Condensed Statements of Income and Comprehensive Income
(in thousands) Year Ended December 31 |  | 2020 |  |  | 2019 |  |  | 2018 |
Income: |  |  |  |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 29,593 |  |  | $ | 30,152 |  |  | $ | 26,750 |
Other income |  |  | 476 |  |  |  | 757 |  |  |  | 489 |
Total income |  |  | 30,069 |  |  |  | 30,909 |  |  |  | 27,239 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 1,519 |  |  |  | 2,520 |  |  |  | 2,318 |
Depreciation expense |  |  | 112 |  |  |  | 144 |  |  |  | 135 |
Other expenses |  |  | 3,302 |  |  |  | 3,273 |  |  |  | 3,156 |
Total expenses |  |  | 4,933 |  |  |  | 5,937 |  |  |  | 5,609 |
Income before income taxes and equity in undistributed income of subsidiaries |  |  | 25,136 |  |  |  | 24,972 |  |  |  | 21,630 |
Income tax benefit |  |  | (576 | ) |  |  | (4,947 | ) |  |  | (1,219 | )
Income before equity in undistributed income of subsidiaries |  |  | 25,712 |  |  |  | 29,919 |  |  |  | 22,849 |
Equity in undistributed income of subsidiaries |  |  | 33,792 |  |  |  | 34,621 |  |  |  | 36,379 |
Net income |  | $ | 59,504 |  |  | $ | 64,540 |  |  | $ | 59,228 |
Other comprehensive gain (loss): |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) arising during the period |  |  | 13,839 |  |  |  | 14,270 |  |  |  | (5,393 | )
Less: Reclassification adjustments for realized gains (losses) included in net income |  |  | 1,251 |  |  |  | 3 |  |  |  | (821 | )
Tax expense (benefit) |  |  | 3,273 |  |  |  | 3,403 |  |  |  | (960 | )
Other comprehensive gain (loss), net of tax |  |  | 9,315 |  |  |  | 10,864 |  |  |  | (3,612 | )
Comprehensive income |  | $ | 68,819 |  |  | $ | 75,404 |  |  | $ | 55,616 |
Condensed Statements of Cash Flows
(in thousands) Year Ended December 31 |  | 2020 |  |  | 2019 |  |  | 2018 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 59,504 |  |  | $ | 64,540 |  |  | $ | 59,228 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 112 |  |  |  | 144 |  |  |  | 135 |
Equity in undistributed earnings of subsidiaries |  |  | (33,792 | ) |  |  | (34,621 | ) |  |  | (36,379 | )
Deferred taxes |  |  | 451 |  |  |  | (4,907 | ) |  |  | (12 | )
Stock-based compensation |  |  | 944 |  |  |  | 859 |  |  |  | 710 |
Gain on debt repurchase |  |  | 0 |  |  |  | (219 | ) |  |  | 0 |
Changes in: |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  |  | (115 | ) |  |  | 1 |  |  |  | (50 | )
Other liabilities |  |  | (318 | ) |  |  | 683 |  |  |  | 53 |
Net cash provided by operating activities |  |  | 26,786 |  |  |  | 26,480 |  |  |  | 23,685 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Payment for investment in subsidiary |  |  | 0 |  |  |  | (1,281 | ) |  |  | 0 |
Purchase of premises and equipment |  |  | (55 | ) |  |  | (78 | ) |  |  | (81 | )
Net cash used in investing activities |  |  | (55 | ) |  |  | (1,359 | ) |  |  | (81 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | 926 |  |  |  | 1,264 |  |  |  | 1,230 |
Repurchase of common stock |  |  | (1,099 | ) |  |  | 0 |  |  |  | 0 |
Dividends paid |  |  | (27,142 | ) |  |  | (26,235 | ) |  |  | (24,395 | )
Net cash used in financing activities |  |  | (27,315 | ) |  |  | (24,971 | ) |  |  | (23,165 | )
Net increase (decrease) in cash and cash equivalents |  |  | (584 | ) |  |  | 150 |  |  |  | 439 |
Cash and cash equivalents at beginning of year |  |  | 2,089 |  |  |  | 1,939 |  |  |  | 1,500 |
Cash and cash equivalents at end of year |  | $ | 1,505 |  |  | $ | 2,089 |  |  | $ | 1,939 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -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 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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