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Condensed Parent Information

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Parent Information

(Dollars in thousands) 

CONDENSED BALANCE SHEETS
		December 31,				December 31,
		2018				2017
ASSETS
Cash		$	13,684			$	3,936
Investment in subsidiaries		308,422				168,104
Other assets		99				42,766
Total assets		$	322,205			$	214,806
LIABILITIES AND STOCKHOLDERS’ EQUITY
Other liabilities		$	17			$	(1,046	)
Other borrowings		39,177				10,000
Total liabilities		39,194				8,954
Stockholders’ equity		283,011				205,852
Total liabilities and stockholders’ equity		$	322,205			$	214,806

CONDENSED STATEMENTS OF INCOME
		Years Ended December 31,
		2018				2017
INCOME
Interest income		$	21			$	—
EXPENSES
Interest expense		1,005				69
Other operating expenses		2,822				2,657
(Loss) before equity in undistributed earnings of subsidiaries and income tax benefit		(3,806		)		(2,726		)
Equity in undistributed earnings of subsidiaries		22,741				7,134
Income tax (benefit) expense		(833		)		607
Net income		18,102				5,015
Preferred stock dividend requirements		—				195
Net income available to common stockholders		$	18,102			$	4,820

STATEMENTS OF CASH FLOWS		Years Ended December 31,
		2018				2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		$	18,102			$	5,015
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed income of subsidiary		(22,741		)		(7,134		)
Other		1,631				(2,449		)
Net cash used in operating activities		(3,008		)		(4,568		)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of note payable		—				10,000
Repayment of note payable		(10,000		)		—
Redemption of preferred stock		—				(12,000		)
Issuance of subordination debt		39,158				—
Proceeds from issuance of common stock		1,528				37,853
Payment of dividends on preferred stock		—				(195		)
Net cash provided by financing activities		30,686				35,658
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash paid for business combinations		(5,930		)		(14,222		)
Equity contribution to subsidiary		(12,000		)		(15,000		)
Net cash used in investing activities		(17,930		)		(29,222		)
NET INCREASE IN CASH AND CASH EQUIVALENTS		9,748				1,868
CASH AND CASH EQUIVALENTS, beginning of year		3,936				2,068
CASH AND CASH EQUIVALENTS, end of year		$	13,684			$	3,936

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- References

No definition available.

+ Details

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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

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