v3.8.0.1

Parent Only Financial Statements | 12 Months Ended
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Dec. 31, 2017
Statement Of Financial Position [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure | NOTE 23: PARENT ONLY FINANCIAL STATEMENTS BALANCE SHEETS
(dollars in thousands) |  | December 31, |
|  | 2017 |  |  | 2016 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 12,664 |  |  | $ | 6,318 |
Premises and equipment, net |  |  | 136 |  |  |  | 136 |
Deferred taxes |  |  | (37 | ) |  |  | (74 | )
Investment in subsidiaries |  |  | 429,595 |  |  |  | 272,545 |
Intercompany receivable |  |  | 3,944 |  |  |  | 3,558 |
Other assets |  |  | 1,740 |  |  |  | 1,711 |
Total Assets |  | $ | 448,042 |  |  | $ | 284,194 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |
Borrowings |  | $ | 50,000 |  |  | $ | — |
Accounts payable and other liabilities |  |  | 3,091 |  |  |  | (70 | )
Total Liabilities |  |  | 53,091 |  |  |  | (70 | )
Shareholders’ Equity |  |  |  |  |  |  |  |
Common Stock |  |  | 38 |  |  |  | 16 |
Additional paid-in-capital |  |  | 314,501 |  |  |  | 232,428 |
Retained earnings |  |  | 85,503 |  |  |  | 57,065 |
Accumulated other comprehensive income (loss), net of tax |  |  | (5,091 | ) |  |  | (5,245 | )
Total Shareholders’ Equity |  |  | 394,951 |  |  |  | 284,264 |
Total Liabilities and Shareholders’ Equity |  | $ | 448,042 |  |  | $ | 284,194 |
INCOME STATEMENTS
(dollars in thousands) |  | For the Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Interest expense—borrowings |  | $ | 653 |  |  | $ | — |  |  | $ | 674 |
Noninterest income—earnings from investment in subsidiaries |  |  | 31,547 |  |  |  | 25,498 |  |  |  | 15,801 |
Noninterest expense: |  |  |  |  |  |  |  |  |  |  |  |
Compensation and benefits |  |  | 1,302 |  |  |  | 971 |  |  |  | 1,152 |
Occupancy and depreciation |  |  | 197 |  |  |  | 96 |  |  |  | 191 |
Professional services and marketing costs |  |  | 2,741 |  |  |  | 1,929 |  |  |  | 1,669 |
Other expenses |  |  | 1,130 |  |  |  | 964 |  |  |  | 702 |
Total noninterest expense |  |  | 5,370 |  |  |  | 3,960 |  |  |  | 3,714 |
Income before taxes on income |  |  | 25,524 |  |  |  | 21,538 |  |  |  | 11,413 |
Taxes on income |  |  | (2,058 | ) |  |  | (1,765 | ) |  |  | (1,965 | )
Net income |  | $ | 27,582 |  |  | $ | 23,303 |  |  | $ | 13,378 |
STATEMENTS OF COMPREHENSIVE INCOME
(dollars in thousands) |  | For the Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Net income |  | $ | 27,582 |  |  | $ | 23,303 |  |  | $ | 13,378 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Unrealized holding gains (losses) on securities arising during the period |  |  | 1,717 |  |  |  | (6,697 | ) |  |  | (3,746 | )
Other comprehensive income (loss) before tax |  |  | 1,717 |  |  |  | (6,697 | ) |  |  | (3,746 | )
Income tax (expense) benefit related to items of other comprehensive income |  |  | (707 | ) |  |  | 2,122 |  |  |  | 1,542 |
Other comprehensive income (loss) |  |  | 1,010 |  |  |  | (4,575 | ) |  |  | (2,204 | )
Less: Reclassification adjustment for gains (loss) included in net earnings |  |  | — |  |  |  | 1,043 |  |  |  | (61 | )
Income tax (expense) benefit related to reclassification adjustment |  |  | — |  |  |  | (409 | ) |  |  | 25 |
Reclassification adjustment for gains included in net earnings, net of tax |  |  | — |  |  |  | 634 |  |  |  | (36 | )
Other comprehensive income (loss), net of tax |  |  | 1,010 |  |  |  | (3,941 | ) |  |  | (2,240 | )
Total comprehensive income |  | $ | 28,592 |  |  | $ | 19,362 |  |  | $ | 11,138 |
STATEMENTS OF CASH FLOWS
(dollars in thousands) |  | For the Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 27,582 |  |  | $ | 23,303 |  |  | $ | 13,378 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Earnings from investment in subsidiaries |  |  | (31,547 | ) |  |  | (25,498 | ) |  |  | (15,801 | )
Stock–based compensation expense |  |  | 61 |  |  |  | 78 |  |  |  | 113 |
Deferred tax liability (benefit) |  |  | (37 | ) |  |  | 296 |  |  |  | (345 | )
Increase in other assets |  |  | (29 | ) |  |  | (1,464 | ) |  |  | (602 | )
Increase (decrease) in accounts payable and other liabilities |  |  | 3,161 |  |  |  | (1,102 | ) |  |  | 1,926 |
Net cash provided by (used in) operating activities |  |  | (809 | ) |  |  | (4,387 | ) |  |  | (1,331 | )
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries |  |  | (72,845 | ) |  |  | (40,000 | ) |  |  | (76,453 | )
Payment to shareholders of acquired companies |  |  | — |  |  |  | — |  |  |  | (543 | )
Dividend from subsidiary |  |  | 2,000 |  |  |  | 5,000 |  |  |  | — |
Purchase of premises and equipment |  |  | — |  |  |  | (24 | ) |  |  | (12 | )
Net cash used in investing activities |  |  | (70,845 | ) |  |  | (35,024 | ) |  |  | (77,008 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings |  |  | 50,000 |  |  |  | — |  |  |  | 10,114 |
Paydowns of borrowings |  |  | — |  |  |  | — |  |  |  | (30,000 | )
Proceeds from the sale of stock, net |  |  | 28,386 |  |  |  | 4,267 |  |  |  | 136,163 |
Intercompany accounts, net decrease (increase) |  |  | (386 | ) |  |  | (689 | ) |  |  | (1,509 | )
Net cash provided by financing activities |  |  | 78,000 |  |  |  | 3,578 |  |  |  | 114,768 |
Increase (decrease) in cash and cash equivalents |  |  | 6,346 |  |  |  | (35,833 | ) |  |  | 36,429 |
Cash and cash equivalents at beginning of year |  |  | 6,318 |  |  |  | 42,151 |  |  |  | 5,722 |
Cash and cash equivalents at end of year |  | $ | 12,664 |  |  | $ | 6,318 |  |  | $ | 42,151 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -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 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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