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PARENT COMPANY FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
PARENT COMPANY FINANCIAL INFORMATION | Note 20 PARENT COMPANY FINANCIAL INFORMATION The following are condensed statements of financial condition of the parent company at December 31: Parent Company Statements of Financial Condition
(Dollars in Thousands, Except Per Share Data) | 2018 |  | 2017
ASSETS |  |  |  |  |
Cash and Due From Subsidiary Bank | $ | 19,053 |  | $ | 17,515
Investment in Subsidiary Bank |  | 344,714 |  |  | 327,416
Other Assets |  | 5,440 |  |  | 5,112
Total Assets | $ | 369,207 |  | $ | 350,043
LIABILITIES |  |  |  |  |
Long-Term Borrowings | $ | 2,100 |  | $ | 2,700
Subordinated Notes Payable |  | 52,887 |  |  | 52,887
Other Liabilities |  | 11,633 |  |  | 10,246
Total Liabilities |  | 66,620 |  |  | 65,833
SHAREOWNERS’ EQUITY |  |  |  |  |
Common Stock, $.01 par value; 90,000,000 shares authorized; 16,747,571 and 16,988,951 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively |  | 167 |  |  | 170
Additional Paid-In Capital |  | 31,058 |  |  | 36,674
Retained Earnings |  | 300,177 |  |  | 279,410
Accumulated Other Comprehensive Loss, Net of Tax |  | (28,815) |  |  | (32,044)
Total Shareowners’ Equity |  | 302,587 |  |  | 284,210
Total Liabilities and Shareowners’ Equity | $ | 369,207 |  | $ | 350,043
The operating results of the parent company for the three years ended December 31 are shown below: Parent Company Statements of Operations
(Dollars in Thousands) |  | 2018 |  | 2017 |  | 2016
OPERATING INCOME |  |  |  |  |  |  |  |  |
Income Received from Subsidiary Bank: |  |  |  |  |  |  |  |  |
Administrative Fees |  | $ | 5,700 |  | $ | 4,813 |  | $ | 4,700
Dividends |  |  | 15,000 |  |  | 12,000 |  |  | 9,300
Other Income |  |  | 171 |  |  | 124 |  |  | 2,675
Total Operating Income |  |  | 20,871 |  |  | 16,937 |  |  | 16,675
OPERATING EXPENSE |  |  |  |  |  |  |  |  |
Salaries and Associate Benefits |  |  | 3,679 |  |  | 3,783 |  |  | 3,581
Interest on Subordinated Notes Payable |  |  | 2,286 |  |  | 1,761 |  |  | 1,527
Professional Fees |  |  | 1,210 |  |  | 1,072 |  |  | 1,114
Advertising |  |  | 106 |  |  | 130 |  |  | 160
Legal Fees |  |  | 166 |  |  | 140 |  |  | 167
Other |  |  | 2,170 |  |  | 1,338 |  |  | 1,384
Total Operating Expense |  |  | 9,617 |  |  | 8,224 |  |  | 7,933
Earnings Before Income Taxes and Equity in Undistributed |  |  |  |  |  |  |  |  |
Earnings of Subsidiary Bank |  | 11,254 |  |  | 8,713 |  |  | 8,742
Income Tax (Benefit) Expense |  |  | (901) |  |  | 166 |  |  | (1,492)
Earnings Before Equity in Undistributed Earnings of Subsidiary Bank |  |  | 12,155 |  |  | 8,547 |  |  | 10,234
Equity in Undistributed Earnings of Subsidiary Bank |  |  | 14,069 |  |  | 2,316 |  |  | 1,512
Net Income |  | $ | 26,224 |  | $ | 10,863 |  | $ | 11,746
The cash flows for the parent company for the three years ended December 31 were as follows: Parent Company Statements of Cash Flows
(Dollars in Thousands) |  | 2018 |  | 2017 |  | 2016
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net Income |  | $ | 26,224 |  | $ | 10,863 |  | $ | 11,746
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities: |  |  |  |  |  |  |  |  |
Equity in Undistributed Earnings of Subsidiary Bank |  |  | (14,069) |  |  | (2,316) |  |  | (1,512)
Stock Compensation |  |  | 1,421 |  |  | 1,502 |  |  | 1,260
Gain on Retirement of Trust Preferred Securities |  |  | - |  |  | - |  |  | (2,487)
Decrease (Increase) in Other Assets |  |  | (327) |  |  | 450 |  |  | (399)
Increase in Other Liabilities |  |  | 1,579 |  |  | 960 |  |  | 345
Net Cash Provided By Operating Activities |  |  | 14,828 |  |  | 11,459 |  |  | 8,953
CASH FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Redemption of Subordinated Notes |  |  | - |  |  | - |  |  | (7,500)
Proceeds from Short-Term Borrowings |  |  | - |  |  | - |  |  | 3,750
Repayment of Short-Term Borrowings |  |  | - |  |  | - |  |  | (750)
Repayment of Long-Term Borrowings |  |  | (600) |  |  | (300) |  |  | -
Dividends Paid |  |  | (5,457) |  |  | (4,071) |  |  | (2,890)
Issuance of Common Stock Under Compensation Plans |  |  | 797 |  |  | 809 |  |  | 840
Payments to Repurchase Common Stock |  |  | (8,030) |  |  | - |  |  | (6,312)
Net Cash Used In Financing Activities |  |  | (13,290) |  |  | (3,562) |  |  | (12,862)
Net Increase (Decrease) in Cash |  |  | 1,538 |  |  | 7,897 |  |  | (3,909)
Cash at Beginning of Year |  |  | 17,515 |  |  | 9,618 |  |  | 13,527
Cash at End of Year |  | $ | 19,053 |  | $ | 17,515 |  | $ | 9,618

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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://fasb.org/us-gaap/role/ref/legacyRef -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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