Condensed Financial Information (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Balance Sheets


	December 31		December 31
	2017		2016
Assets
Total cash and cash equivalents	$	13,361	$	15,736
Investment in Subsidiaries		497,623		386,389
Other assets		1,318		2,504

Total assets	$	512,302	$	404,629

Liabilities
Borrowings	$	12,500	$	19,500
Subordinated debentures		37,653		37,456
Other liabilities		5,071		6,818
Stockholders’ Equity		457,078		340,855

Total liabilities and stockholders’ equity	$	512,302	$	404,629

Condensed Statements of Income


	Years Ended December 31
	2017			2016			2015
Operating Income (Expense)
Dividend income from Bank	$	27,000		$	20,000		$	30,470
Investment income		—			33			15
Other income		540			42			24
Interest expense		(2,791	)		(2,376	)		(2,009	)
Employee benefit expense		(1,094	)		(1,158	)		(1,093	)
Other expense		(326	)		1,279			910

Income Before Undistributed Income of Subsidiaries		23,329			17,820			28,317
Undistributed Income of Subsidiaries		8,804			5,938			(8,168	)

Income Before Tax		32,133			23,758			20,149
Income Tax Benefit		984			154			400

Net Income		33,117			23,912			20,549
Preferred stock dividend		—			(42	)		(125	)

Net Income Available to Common Shareholders	$	33,117		$	23,870		$	20,424

Condensed Statements of Comprehensive Income


	Years Ended December 31
	2017			2016			2015
Net Income	$	33,117		$	23,912		$	20,549
Other Comprehensive Income (Loss)
Change in fair value of derivative instruments, net of taxes		913			6			127
Unrealized appreciation for the period on held-to-maturity securities, net of taxes		(166	)		(424	)		(357	)
Unrealized appreciation (depreciation) on available-for-sale securities, net of taxes		1,371			(3,310	)		(1,891	)
Less: reclassification adjustment for realized gains included in net income, net of taxes		(25	)		(1,193	)		(123	)

		2,093			(4,921	)		(2,244	)

Comprehensive Income	$	35,210		$	18,991		$	18,305

Condensed Statements of Cash Flows


	Years Ended December 31
	2017			2016			2015
Operating Activities
Net income	$	33,117		$	23,912		$	20,549
Items not requiring (providing) cash
Equity in undistributed net income of subsidiaries		(8,804	)		(5,938	)		8,168
Change in
Share based compensation		325			284			288
Amortization of unearned compensation		135			324			355
Other assets		388			888			(634	)
Other liabilities		(1,675	)		(244	)		(13	)

Net cash provided by operating activities		23,486			19,226			28,713

Investing Activities
Acquisition of Peoples		—			—			(19,365	)
Acquisition of Kosciusko		—			(6,741	)		—
Acquisition of LaPorte		—			(17,108	)		—
Acquisition of CNB		—			(5,296	)		—
Acquisition of Lafayette		(1,254	)		—			—
Acquisition of Wolverine		(7,688	)		—			—

Net cash used in investing activities		(8,942	)		(29,145	)		(19,365	)

Financing Activities
Redemption of preferred stock		—			(12,500	)		—
Net change in borrowings		(6,803	)		19,500			—
Dividends paid on preferred shares		—			(42	)		(125	)
Dividends paid on common shares		(11,720	)		(8,382	)		(6,216	)
Exercise of stock options		1,604			572			4,305

Net cash used in financing activities		(16,919	)		(852	)		(2,036	)

Net Change in Cash and Cash Equivalents		(2,375	)		(10,771	)		7,312
Cash and Cash Equivalents at Beginning of Year		15,736			26,507			19,195

Cash and Cash Equivalents at End of Year	$	13,361		$	15,736		$	26,507