XML 113 R101.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Financial Information of Parent (Details) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Nov. 30, 2016
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Assets                          
Cash and cash equivalents   $ 19,207 $ 22,375 $ 23,718 $ 17,600 $ 17,366 $ 23,456 $ 20,838 $ 14,533 $ 19,207 $ 17,366    
Investments   556,739 541,678 552,269 553,453 527,244 471,063 457,599 453,336 556,739 527,244    
Premises and equipment   22,502       22,202       22,502 22,202    
Goodwill   29,805       29,805       29,805 29,805    
Other assets   42,784       35,958       42,784 35,958    
Total assets   1,842,930 1,781,701 1,795,651 1,763,828 1,712,875 1,635,088 1,621,454 1,574,681 1,842,930 1,712,875    
Liabilities and shareholders' equity                          
Other liabilities   13,972 17,442 16,578 15,968 18,496 17,247 17,862 17,165 13,972 18,496    
Total liabilities   1,661,609       1,540,354       1,661,609 1,540,354    
Shareholders' equity                          
Common stock   108       108       108 108    
Additional paid-in capital   61,747       60,723       61,747 60,723    
Retained earnings   121,144       111,693       121,144 111,693    
Accumulated other comprehensive income (loss)                          
Net unrealized gain on available for sale securities, net of tax   (2,901)       (935)       (2,901) (935)    
Total shareholders' equity   181,321 179,882 177,537 174,910 172,521 175,994 174,788 171,544 181,321 172,521 $ 167,498 $ 161,554
Total liabilities and shareholders' equity   1,842,930 1,781,701 1,795,651 1,763,828 1,712,875 1,635,088 1,621,454 1,574,681 1,842,930 1,712,875    
Statements of Income                          
Net securities gains                   471 673 1,399  
Income before income taxes   6,868 6,684 6,527 6,121 5,790 6,218 6,337 6,118 26,200 24,463 21,720  
Applicable tax expense   1,782 1,702 1,644 1,484 1,470 1,656 1,713 1,615 6,612 6,454 5,514  
Equity in earnings of Bank                          
Net income   5,086 4,982 4,883 4,637 4,320 4,562 4,624 4,503 19,588 18,009 16,206  
Cash flows from operating activities                          
Net income   5,086 $ 4,982 $ 4,883 4,637 4,320 $ 4,562 $ 4,624 4,503 19,588 18,009 16,206  
Adjustments to reconcile net income to net cash provided by operating activities:                          
Depreciation                   1,864 1,745 1,720  
Equity compensation expense                   392 298 296  
Loss on sale of investments                   (471) (673) (1,399)  
Tax benefit from vesting of restricted stock                   0 32 0  
(Increase) decrease in other assets                   (4,742) (2,460) (455)  
Increase (decrease) in other liabilities                   (2,020) 665 1,418  
Net cash provided by operating activities                   22,526 21,646 20,742  
Cash flows from investing activities                          
Proceeds from maturities, payments, calls of securities available for sale                   157,013 79,223 36,588  
Capital expenditures                   (2,529) (2,131) (927)  
Net cash used in investing activities                   (130,313) (148,633) (86,347)  
Cash flows from financing activities                          
Purchase of common stock                   (154) (129) (180)  
Proceeds from sale of common stock                   632 531 465  
Repurchase of warrants $ (1,750)                 0 (1,750) 0  
Dividends paid                   (11,460) (9,810) (9,349)  
Net cash provided by financing activities                   109,628 130,054 66,847  
Net increase (decrease) in cash and cash equivalents                   1,841 3,067 1,242  
Cash and cash equivalents at beginning of year         17,366       14,299 17,366 14,299 13,057  
Cash and cash equivalents at end of year   19,207       17,366       19,207 17,366 14,299  
Parent Company                          
Assets                          
Cash and cash equivalents   958       613       958 613    
Dividends receivable   2,500       3,800       2,500 3,800    
Investments   441       432       441 432    
Investment in subsidiary   152,174       143,611       152,174 143,611    
Premises and equipment   3       4       3 4    
Goodwill   27,559       27,559       27,559 27,559    
Other assets   312       300       312 300    
Total assets   183,947       176,319       183,947 176,319    
Liabilities and shareholders' equity                          
Dividends payable   2,599       3,778       2,599 3,778    
Other liabilities   27       20       27 20    
Total liabilities   2,626       3,798       2,626 3,798    
Shareholders' equity                          
Common stock   108       108       108 108    
Additional paid-in capital   61,747       60,723       61,747 60,723    
Retained earnings   119,373       111,653       119,373 111,653    
Accumulated other comprehensive income (loss)                          
Net unrealized gain on available for sale securities, net of tax   93       37       93 37    
Total accumulated other comprehensive income   93       37       93 37    
Total shareholders' equity   181,321       172,521       181,321 172,521    
Total liabilities and shareholders' equity   183,947       176,319       183,947 176,319    
Statements of Income                          
Interest and dividends on investments                   15 22 18  
Net securities gains                   (3) (6) 0  
Total income                   12 16 18  
Occupancy expense                   5 9 12  
Other operating expense                   588 528 488  
Total expense                   593 537 500  
Income before income taxes                   (581) (521) (482)  
Applicable tax expense                   (187) (186) (172)  
Loss before Bank earnings                   (394) (335) (310)  
Equity in earnings of Bank                          
Remitted                   11,180 11,300 10,000  
Unremitted                   8,802 7,044 6,516  
Net income                   19,588 18,009 16,206  
Cash flows from operating activities                          
Net income                   19,588 18,009 16,206  
Adjustments to reconcile net income to net cash provided by operating activities:                          
Depreciation                   5 8 12  
Equity compensation expense                   392 298 296  
Loss on sale of investments                   3 6 0  
Tax benefit from vesting of restricted stock                   0 32 0  
(Increase) decrease in other assets                   27 136 (135)  
(Increase) decrease in dividends receivable                   1,300 (1,300) (50)  
Increase (decrease) in dividends payable                   (1,179) 112 0  
Increase (decrease) in other liabilities                   (3) (4) 160  
Unremitted earnings of Bank                   (8,802) (7,044) (6,516)  
Net cash provided by operating activities                   11,331 10,253 9,973  
Cash flows from investing activities                          
Proceeds from maturities, payments, calls of securities available for sale                   0 87 0  
Capital expenditures                   (4) 0 0  
Net cash used in investing activities                   (4) 87 0  
Cash flows from financing activities                          
Purchase of common stock                   (154) (129) (180)  
Proceeds from sale of common stock                   632 531 465  
Repurchase of warrants                   0 (1,750) 0  
Dividends paid                   (11,460) (9,810) (9,349)  
Net cash provided by financing activities                   (10,982) (11,158) (9,064)  
Net increase (decrease) in cash and cash equivalents                   345 (818) 909  
Cash and cash equivalents at beginning of year         $ 613       $ 1,431 613 1,431 522  
Cash and cash equivalents at end of year   $ 958       $ 613       $ 958 $ 613 $ 1,431