Parent Company Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2019


	2019		2018
Assets
Noninterest bearing deposit with bank subsidiary	$	26,562	$	9,039
Investment in subsidiaries		352,703		315,252
Other assets		3,981		12,997
Total assets	$	383,246	$	337,288

Liabilities and Stockholders’ Equity
Other short term borrowings	$	-	$	4,000
Junior subordinated debentures		57,734		57,686
Senior notes		44,270		44,158
Other liabilities		3,378		2,363
Stockholders’ equity		277,864		229,081
Total liabilities and stockholders' equity	$	383,246	$	337,288


	2019		2018		2017
Operating Income
Cash dividends received from subsidiaries	$	20,000	$	30,000	$	-
Other income		109		106		114
Total operating income		20,109		30,106		114
Operating Expenses
Junior subordinated debentures		3,724		3,716		4,002
Senior notes		2,700		2,688		2,689
Other interest expense		13		98		-
Other expenses		4,025		4,208		2,639
Total operating expense		10,462		10,710		9,330
Income (loss) before income taxes and equity in undistributed net income of subsidiaries		9,647		19,396		(9,216)
Income tax benefit		(3,187)		(3,355)		(16)
Income (loss) before equity in undistributed net income of subsidiaries		12,834		22,751		(9,200)
Equity in undistributed net income of subsidiaries		26,621		11,261		24,338
Net income available to common stockholders	$	39,455	$	34,012	$	15,138


	2019		2018		2017
Cash Flows from Operating Activities
Net Income	$	39,455	$	34,012	$	15,138
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed net income of subsidiaries		(26,621)		(11,261)		(24,338)
Provision for deferred tax expense (benefit)		4,186		6,697		6,397
Net deferred tax expense due to DTA revaluation		-		-		3,908
Change in taxes payable		3,896		(1,211)		(4,797)
Change in other assets		-		97		74
Stock-based compensation		2,516		2,257		1,181
Other, net		(80)		172		(15)
Net cash provided by (used in) operating activities		23,352		30,763		(2,452)

Cash Flows from Investing Activities
Cash paid for acquisition, net of cash and cash equivalents retained		-		(47,074)		-
Net cash used in investing activities		-		(47,074)		-

Cash Flows from Financing Activities
Net change in other short-term borrowings		(4,000)		4,000		-
Dividend paid on common stock		(1,195)		(1,189)		(1,184)
Purchases of treasury stock		(666)		(505)		(236)
Payment of senior note issuance costs		-		-		(42)
Proceeds from exercise of stock option		32		33		-
Net cash (used in) provided by financing activities		(5,829)		2,339		(1,462)
Net change in cash and cash equivalents		17,523		(13,972)		(3,914)
Cash and cash equivalents at beginning of year		9,039		23,011		26,925
Cash and cash equivalents at end of year	$	26,562	$	9,039	$	23,011