Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2011

Parent Company Only Financial Information [Abstract]

Parent Company Only Financial Information

20. Parent Company Only Financial Information (Dollars in thousands)


CONDENSED BALANCE SHEETS	December 31,
	2011		2010
Assets
Cash	$	1,936	$	1,160
Trading securities		175		77
Investment in bank subsidiary		126,242		105,686
Investment in non-bank subsidiaries		26,579		24,855
Deferred tax asset		839		569
Other assets		2,313		2,345


Total assets	$	158,084	$	134,692

Liabilities
Other borrowings	$	2,150	$	1,750
Subordinated debentures		20,620		20,620
Other liabilities		3,425		2,677


Total liabilities		26,195		25,047

Total shareholders' equity		131,889		109,645


Total liabilities and shareholders' equity	$	158,084	$	134,692


CONDENSED STATEMENTS OF INCOME	Year Ended December 31,

Income	2011			2010			2009
Dividends from:
Bank subsidiary	$	7,600		$	6,665		$	2,808
Non-bank subsidiaries		-			150			5,850
Other		146			165			91

Total income		7,746			6,980			8,749

Expenses		(1,410	)		(1,383	)		(1,373	)

Income before income taxes and equity in undistributed netincome of subsidiaries		6,336			5,597			7,376

Income tax benefit		443			426			435
Equity in undistributed net income of bank subsidiary		7,162			4,463			6,008
Equity in undistributed net income (loss) of non-bank subsidiaries		1,163			830			(5,307	)


Net income	$	15,104		$	11,316		$	8,512


CONDENSED STATEMENTS OF CASH FLOWS	Year Ended December 31,
	2011			2010			2009
Net income
Adjustments to reconcile net income to net cash provided by	$	15,104		$	11,316		$	8,512
operating activities:
Equity in undistributed net income of bank subsidiary		(7,162	)		(4,463	)		(6,008	)
Equity in undistributed (net income) loss of non-bank subsidiaries		(1,163	)		(830	)		5,307
Net unrealized (gains) losses on securities for which fair value was elected		2			(12	)		35
Decrease (increase) in other assets		39			(172	)		(79	)
Increase in other liabilities		334			202			1,311

Net cash provided by operating activities		7,154			6,041			9,078


Cash flows from investing activities:
Capital transfer to subsidiaries		-			(29,130	)		(3,725	)
Purchase of securities		(100	)		-			-

Net cash used in investing activities		(100	)		(29,130	)		(3,725	)


Cash flows from financing activities:
Dividends paid		(8,125	)		(6,933	)		(5,726	)
Proceeds from sale of treasury stock and option exercises, including tax benefit		1,447			1,269			1,905
Proceeds from stock offering, net of issuance costs		-			32,128			-
Repayment of long-term borrowing		-			(3,500	)		(1,500	)
Net advance from subsidiary		400			250			-

Net cash provided by (used in) financing activities		(6,278	)		23,214			(5,321	)


Net increase in cash		776			125			32
Cash beginning of year		1,160			1,035			1,003

Cash end of year	$	1,936		$	1,160		$	1,035

- 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+ Details