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Condensed Financial Information of Parent Company
12 Months Ended
Dec. 31, 2011
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 18
Condensed Financial Information of Parent Company

Following are the condensed balance sheets of the Company (parent company only) and the related condensed statements of income and cash flows.

Condensed Balance Sheets
December 31,
(In thousands)       2011       2010
Assets
Cash and due from banks $      26,986 $      17,842
Short-term investments 95,043 61,775
Securities available-for-sale, at fair value 310,612 264,569
Loans, net 173,854 193,622
Investments in subsidiary 58,582 52,091
Premises and equipment, net 9,305 9,093
Other assets 93,582 66,080
              Total assets $ 767,964 $ 665,072
Liabilities and Shareholders’ Equity
Liabilities:
Accounts and drafts payable 595,201 516,107
Other liabilities 12,183 6,871
       Total liabilities 607,384 522,978
       Total shareholders’ equity 160,580 142,094
              Total liabilities and shareholders’ equity $ 767,964 $ 665,072
 
Condensed Statement of Income
For the Years Ended December 31,
(In thousands)       2011       2010       2009
Income from subsidiary:
       Interest $      18 $      24 $      115
       Management fees 1,794 1,849 1,882
              Income from subsidiary 1,812 1,873 1,997
Information services revenue 60,688 54,183 48,665
Net interest income after provision 19,933 18,373 18,157
Gain on sales of investment securities 43 697
Other income 701 549 551
              Total income 83,177 74,978 70,067
Expenses:
       Salaries and employee benefits 50,296 45,598 45,172
       Other expenses 14,462 13,205 11,690
              Total expenses 64,758 58,803 56,862
Income before income tax and equity in undistributed income
    of subsidiary
18,419 16,175 13,205
Income tax expense 3,156 2,955 2,158
Income before undistributed income of subsidiary 15,263 13,220 11,047
Equity in undistributed income of subsidiary 7,746 7,090 5,082
 
              Net income $ 23,009 $ 20,310 $ 16,129
 
 
Condensed Statements of Cash Flows
For the Years Ended December 31,
(In thousands)       2011       2010       2009
Cash flows from operating activities:
Net income $      23,009 $      20,310 $      16,129
Adjustments to reconcile net income to net cash provided
       by (used in) operating activities:
              Equity in undistributed income of subsidiary (7,746 ) (7,090 ) (5,082 )
              Net change in other assets (19,669 ) (4,463 ) 187
              Net change in other liabilities 1,655 (4,930 ) (962 )
              Amortization of stock-based awards 1,390 1,472 1,193
              Other, net (7,497 ) (325 )
              Net cash (used in) provided by operating activities (8,858 ) 5,299 11,140
Cash flows from investing activities:
Net increase in securities (37,329 ) (45,173 ) (22,226 )
Net (increase) decrease in loans 19,068 (19,911 ) 53,364
Purchases of premises and equipment, net (2,107 ) (1,166 ) (901 )
              Net cash (used in) provided by investing activities (20,368 ) (66,250 ) 30,237
Cash flows from financing activities:
Net increase (decrease) in accounts and drafts payable 79,094 85,856 (48,774 )
Cash dividends paid (6,279 ) (5,448 ) (4,925 )
Purchase of common shares for treasury (467 )
Other financing activities (1,177 ) (275 ) 603
              Net cash provided by (used in) financing activities 71,638 79,666 (53,096 )
Net increase (decrease) in cash and cash equivalents 42,412 18,715 (11,719 )
Cash and cash equivalents at beginning of year 79,617 60,902 72,621
Cash and cash equivalents at end of year $ 122,029 $ 79,617 $ 60,902