Condensed Parent Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Balance Sheets



	December 31, 2018		December 31, 2017
	(In Thousands)
Assets
Cash and due from banks	$	3,699	$	1,472
Investments in subsidiaries, at equity	206,973		196,810
Leasehold improvements and equipment, net	2,036		2,067
Other assets	5,444		5,993
Total assets	$	218,152	$	206,342
Liabilities and Stockholders’ Equity
Borrowed funds	$	33,802	$	33,742
Other liabilities	3,643		3,322
Total liabilities	37,445		37,064
Stockholders’ equity	180,707		169,278
Total liabilities and stockholders’ equity	$	218,152	$	206,342

Condensed Statements of Income



	For the Year Ended December 31,
	2018		2017		2016
	(In Thousands)
Interest expense	$	2,703	$	2,744	$	2,799
Non-interest income
Consulting and rental income from consolidated subsidiaries	20,267		19,139		16,036
Other non-interest income	33		34		33
Total non-interest income	20,300		19,173		16,069
Non-interest expense	22,866		21,575		19,250
Loss before income tax benefit and equity in undistributed net income of consolidated subsidiaries	5,269		5,146		5,980
Income tax benefit	1,478		1,965		2,170
Loss before equity in undistributed net income of consolidated subsidiaries	3,791		3,181		3,810
Equity in undistributed net income of consolidated subsidiaries	20,094		15,086		18,719
Net income	$	16,303	$	11,905	$	14,909

Condensed Statements of Cash Flows



	For the Year Ended December 31,
	2018			2017			2016
	(In Thousands)
Operating activities
Net income	$	16,303		$	11,905		$	14,909
Adjustments to reconcile net income to net cash used in operating activities:
Equity in undistributed earnings of consolidated subsidiaries	(20,094		)	(15,086		)	(18,719		)
Share-based compensation	1,004			1,078			994
Excess tax benefit from share-based compensation	(24		)	(37		)	(83		)
Net increase (decrease) in other liabilities	321			(4,170		)	1,198
Other, net	72			(2,233		)	(3,162		)
Net cash used in operating activities	(2,418		)	(8,543		)	(4,863		)
Investing activities
Dividends received from subsidiaries	10,034			14,534			13,534
Capital contributions to subsidiaries	—			—			(3,500		)
Net cash provided by investing activities	10,034			14,534			10,034
Financing activities
Net increase (decrease) in short-term borrowed funds	60			(1,000		)	(1,500		)
Proceeds from issuance of subordinated notes payable	—			9,090			—
Repayment of subordinated notes payable	—			(7,875		)	—
Purchase of treasury stock	(533		)	(323		)	(467		)
Cash dividends paid	(4,916		)	(4,538		)	(4,176		)
Net cash used in financing activities	(5,389		)	(4,646		)	(6,143		)
Net increase (decrease) in cash and due from banks	2,227			1,345			(972		)
Cash and due from banks at the beginning of the period	1,472			127			1,099
Cash and due from banks at the end of the period	$	3,699		$	1,472		$	127