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Parent Company Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Parent Company Condensed Financial Information

Schedule of condensed balance sheets

​

​	​	​	​	​	​	​	​
​		2021			2020
Assets	​	​	​	​	​	​	​
Noninterest bearing deposit with bank subsidiary	​	$	25,112	​	$	47,601	​
Investment in subsidiaries	​		626,325	​		353,722	​
Other assets	​		1,111	​		3,270	​
Total assets	​	$	652,548	​	$	404,593	​
​	​	​	​	​	​	​	​
Liabilities and Stockholders’ Equity	​	​	​	​	​	​	​
Junior subordinated debentures	​	$	25,773	​	$	25,773	​
Subordinated debt	​		59,212	​		-	​
Senior notes	​	​	44,480	​	​	44,375	​
Notes payable	​	​	13,000	​	​	17,000	​
Other liabilities	​		8,056	​		10,358	​
Stockholders’ equity	​		502,027	​		307,087	​
Total liabilities and stockholders' equity	​	$	652,548	​	$	404,593	​

Schedule of condensed statements of operations

​

​	​	​	​	​	​	​	​	​	​
​		2021			2020			2019
Operating Income	​	​	​	​	​	​	​	​	​
Cash dividends received from subsidiaries	​	$	40,000	​	$	41,300	​	$	20,000
Other income	​		15	​		32	​		109
Total operating income	​		40,015	​		41,332	​		20,109
Operating Expenses	​	​	​	​	​	​	​	​	​
Junior subordinated debentures	​		1,133	​		2,216	​		3,724
Subordinated debt	​	​	1,610	​	​	-	​	​	-
Senior notes	​	​	2,692	​	​	2,693	​	​	2,700
Notes payable	​		291	​		362	​		-
Other interest expense	​		-	​		-	​		13
Other expenses	​		6,918	​		3,669	​		4,025
Total operating expense	​		12,644	​		8,940	​		10,462
Income before income taxes and equity in undistributed net income of subsidiaries	​		27,371	​		32,392	​		9,647
Income tax benefit	​		(2,986)	​		(2,215)	​		(3,187)
Income before equity in undistributed net income of subsidiaries	​		30,357	​		34,607	​		12,834
Equity in undistributed net income of subsidiaries	​		(10,313)	​		(6,782)	​		26,621
Net income available to common stockholders	​	$	20,044	​	$	27,825	​	$	39,455

Schedule of condensed statements of cash Flows

​

​	​	​	​	​	​	​	​	​	​
​		2021			2020			2019
Cash Flows from Operating Activities	​	​	​	​	​	​	​	​	​
Net Income	​	$	20,044	​	$	27,825	​	$	39,455
Adjustments to reconcile net income to net cash from operating activities:	​	​	​	​	​	​	​	​	​
Equity in undistributed net income of subsidiaries	​		10,313	​		6,782	​		(26,621)
Provision for deferred tax expense (benefit)	​		(248)	​		(514)	​		4,186
Change in taxes payable	​		(695)	​		5,933	​		3,896
Change in other assets	​		(12)	​		954	​		-
Stock-based compensation	​		1,435	​		2,089	​		2,516
Other, net	​		961	​		682	​		(80)
Net cash provided by (used in) operating activities	​		31,798	​		43,751	​		23,352
​	​	​	​	​	​	​	​	​	​
Cash Flows from Investing Activities	​	​	​	​	​	​	​	​	​
Cash paid for acquisition, net of cash and cash equivalents retained	​		(94,406)	​		-	​		-
Net cash used in investing activities	​		(94,406)	​		-	​		-
​	​	​	​	​	​	​	​	​	​
Cash Flows from Financing Activities	​	​	​	​	​	​	​	​	​
Net change in other short-term borrowings	​	​	-	​	​	-	​	​	(4,000)
Dividend paid on common stock	​	​	(4,612)	​	​	(1,186)	​	​	(1,195)
Purchases of treasury stock	​		(10,417)	​		(5,922)	​		(666)
Redemption of junior subordinated debentures	​	​	-	​	​	(32,604)	​	​	-
Issuance of term note	​	​	-	​	​	20,000	​	​	-
Issuance of sub debt	​	​	59,148	​	​	-	​	​	-
Repayment of term note	​	​	(4,000)	​	​	(3,000)	​	​	-
Proceeds from exercise of stock option	​	​	-	​	​	-	​	​	32
Net cash (used in) provided by financing activities	​		40,119	​		(22,712)	​		(5,829)
Net change in cash and cash equivalents	​		(22,489)	​		21,039	​		17,523
Cash and cash equivalents at beginning of year	​		47,601	​		26,562	​		9,039
Cash and cash equivalents at end of year	​	$	25,112	​	$	47,601	​	$	26,562
​	​	​	​	​	​	​	​	​	​

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Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Regulation S-X (SX)
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Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

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