Note 19
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)	2018		2017
Assets
Cash and due from banks	$	35,735	$	56,462
Short-term investments		35,201		48,324
Securities available-for-sale, at fair value		441,534		470,523
Loans, net		20,188		12,239
Investments in subsidiaries		130,231		113,681
Premises and equipment, net		21,358		20,927
Other assets		278,151		199,865
Total assets	$	962,398	$	922,021
Liabilities and Shareholders’ Equity
Liabilities:
Accounts and drafts payable	$	693,026	$	661,342
Other liabilities		39,362		35,533
Total liabilities		732,388		696,875
Total shareholders’ equity		230,010		225,146
Total liabilities and shareholders’ equity	$	962,398	$	922,021

	Condensed Statements of Income
	For the Years Ended December 31,
(In thousands)	2018			2017		2016
Income from subsidiaries:
Interest	$	—		$	—	$	2
Management fees		2,668			2,172		2,105
Income from subsidiaries		2,668			2,172		2,107
Information services revenue		100,628			93,133		83,543
Net interest income after provision		14,159			13,217		13,389
(Loss) Gain on sales of investment securities		(42	)		—		387
Other income		456			483		504
Total income		117,869			109,005		99,930
Expenses:
Salaries and employee benefits		77,946			70,409		65,968
Other expenses		23,442			20,333		18,133
Total expenses		101,388			90,742		84,101
Income before income tax and equity in undistributed
income of subsidiaries		16,481			18,263		15,829
Income tax expense		1,788			4,394		1,540
Income before undistributed income of subsidiaries		14,693			13,869		14,289
Equity in undistributed income of subsidiaries		15,575			11,145		10,059
Net income	$	30,268		$	25,014	$	24,348

	Condensed Statements of Cash Flows
	For the Years Ended December 31,
(In thousands)	2018			2017			2016
Cash flows from operating activities:
Net income	$	30,268		$	25,014		$	24,348
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed income of subsidiaries		(15,575	)		(11,145	)		(10,059	)
Net change in other assets		(76,686	)		(41,013	)		(7,085	)
Net change in other liabilities		3,829			10,118			6,683
Amortization of stock-based awards		2,583			1,743			1,677
Other, net		10,242			9,219			7,558
Net cash provided by (used in) operating activities		(45,339	)		(6,064	)		23,122
Cash flows from investing activities:
Net decrease (increase) in securities		14,615			(80,621	)		(33,025	)
Net (increase) decrease in loans		(7,949	)		34,944			40,431
Purchases of premises and equipment, net		(4,211	)		(4,020	)		(4,557	)
Net cash (used in) provided by investing activities		2,455			(49,697	)		2,849
Cash flows from financing activities:
Net increase in accounts and drafts payable		31,684			20,397			64,026
Cash dividends paid		(13,177	)		(10,675	)		(9,979	)
Purchase of common shares for treasury		(8,838	)		(2,270	)		(9,215	)
Other financing activities		(635	)		(267	)		1,705
Net cash provided by financing activities		9,034			7,185			46,537
Net (decrease) increase in cash and cash equivalents		(33,850	)		(48,576	)		72,508
Cash and cash equivalents at beginning of year		104,786			153,362			80,854
Cash and cash equivalents at end of year	$	70,936		$	104,786		$	153,362