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PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2020
Parent Company Financial Information [Abstract] |
Schedule of condensed statements of financial condition of the parent company | (Dollars in Thousands, Except Per Share Data) 2020 2019 ASSETS Cash and Due From Subsidiary Bank $ 39,718 $ 28,924 Investment in Subsidiary Bank 342,958 359,577 Other Assets 6,530 5,884 Total Assets $ 389,206 $ 394,385 LIABILITIES Long-Term Borrowings $ 900 $ 1,500 Subordinated Notes Payable 52,887 52,887 Other Liabilities 14,582 12,982 Total Liabilities 68,369 67,369 SHAREOWNERS’ EQUITY Common Stock, $ .01 par value; 90,000,000 shares authorized; 16,790,573 and 16,771,544 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 168 168 Additional Paid-In Capital 32,283 32,092 Retained Earnings 332,528 322,937 Accumulated Other Comprehensive Loss, Net of Tax (44,142) (28,181) Total Shareowners’ Equity 320,837 327,016 Total Liabilities and Shareowners’ Equity $ 389,206 $ 394,385
Schedule of operating results of the parent company | (Dollars in Thousands) 2020 2019 2018 OPERATING INCOME Income Received from Subsidiary Bank: Administrative Fees $ 6,068 $ 6,517 $ 5,700 Dividends 21,000 19,000 15,000 Other Income 193 203 171 Total Operating Income 27,261 25,720 20,871 OPERATING EXPENSE Salaries and Associate Benefits 3,418 3,928 3,679 Interest on Subordinated Notes Payable 1,514 2,381 2,286 Professional Fees 1,079 1,196 1,210 Advertising 140 157 106 Legal Fees 456 391 166 Other 1,673 1,711 2,170 Total Operating Expense 8,280 9,764 9,617 Earnings Before Income Taxes and Equity in Undistributed Earnings of Subsidiary Bank 18,981 15,956 11,254 Income Tax (Benefit) Expense (406) (632) (901) Earnings Before Equity in Undistributed Earnings of Subsidiary Bank 19,387 16,588 12,155 Equity in Undistributed Earnings of Subsidiary Bank 12,189 14,219 14,069 Net Income $ 31,576 $ 30,807 $ 26,224
Schedule of cash flows for the parent company | (Dollars in Thousands) 2020 2019 2018 CASH FLOWS FROM OPERATING ACTIVITIES: Net Income $ 31,576 $ 30,807 $ 26,224 Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities: Equity in Undistributed Earnings of Subsidiary Bank (12,189) (14,219) (14,069) Stock Compensation 892 1,569 1,421 (Increase) Decrease in Other Assets (217) (445) (327) Increase in Other Liabilities 1,900 1,557 1,579 Net Cash Provided By Operating Activities 21,962 19,269 14,828 CASH FROM FINANCING ACTIVITIES: Repayment of Long-Term Borrowings (600) (600) (600) Dividends Paid (9,567) (8,047) (5,457) Issuance of Common Stock Under Compensation Plans 1,041 1,054 797 Payments to Repurchase Common Stock (2,042) (1,805) (8,030) Net Cash Used In Financing Activities (11,168) (9,398) (13,290) Net Increase in Cash 10,794 9,871 1,538 Cash at Beginning of Year 28,924 19,053 17,515 Cash at End of Year $ 39,718 $ 28,924 $ 19,053

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