Condensed Financial Information Parent Company Only

12 Months Ended

Dec. 31, 2011

Condensed Financial Information Parent Company Only [Abstract]

Condensed Financial Information Parent Company Only

Note 21. Condensed Financial Information — Parent Company Only

Condensed financial statements of the Corporation, parent company only, follow:

	At December 31,
(Dollars in thousands)	2011		2010
Balance Sheets
Assets:
Cash and balances due from financial institutions	$	2,554	$	648
Investments in securities		5,208		9,985
Investments in subsidiaries, at equity in net assets:
Bank		276,405		263,183
Non-banks		16,126		16,120
Other assets		27,126		24,376
Total assets	$	327,419	$	314,312
Liabilities:
Dividends payable	$	3,344	$	3,329
Other borrowings		332		372
Subordinated capital notes		1,875		3,375
Trust preferred securities		20,619		20,619
Other liabilities		28,270		20,393
Total liabilities		54,440		48,088
Shareholders’ equity		272,979		266,224
Total liabilities and shareholders’ equity	$	327,419	$	314,312

	For the Years ended December 31,
(Dollars in thousands)	2011			2010			2009
Statements of Income
Dividends from bank	$	12,482		$	12,482		$	12,482
Dividends from non-banks		1,190			1,190			1,190
Other-than-temporary impairment on equity securities		(16	)		(62	)		(1,708	)
Other-than-temporary impairment on other long-lived assets		—			—			(500	)
Net gain (loss) on sales of securities		58			105			(28	)
Other income		14,986			15,976			14,014
Total operating income		28,700			29,691			25,450
Operating expenses		16,946			15,715			16,376
Income before income tax (benefit) and equity in undistributed income (loss) of subsidiaries		11,754			13,976			9,074
Applicable income (benefit) tax		(547	)		73			(1,745	)
Income before equity in undistributed income (loss) of subsidiaries		12,301			13,903			10,819
Equity in undistributed income (loss) of subsidiaries:
Bank		6,576			1,777			(71	)
Non-banks		5			76			32
Net income	$	18,882		$	15,756		$	10,780

	For the Years Ended December 31,
(Dollars in thousands)	2011			2010			2009
Statements of Cash Flows
Cash flows from operating activities:
Net income	$	18,882		$	15,756		$	10,780
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net (income) loss of subsidiaries		(6,581	)		(1,853	)		39
Other-than-temporary impairment on equity securities		16			62			1,708
Other-than-temporary impairment on other long-lived assets		—			—			500
Net (gain) loss on sales of securities		(58	)		(105	)		28
Depreciation of premises and equipment		341			185			143
Increase in other assets		(1,728	)		(2,736	)		(1,298	)
Increase (decrease) increase in other liabilities		1,176			(76	)		(774	)
Net cash provided by operating activities		12,048			11,233			11,126
Cash flows from investing activities:
Investments in subsidiaries		—			—			(55,000	)
Proceeds from sales of securities		7,127			7,265			5,989
Purchases of investment securities		(2,525	)		(7,000	)		(7,000	)
Liquidation of subsidiary, net of cash acquired		—			2,384			—
Other, net		(196	)		147			(393	)
Net cash provided by (used) in investing activities		4,406			2,796			(56,404	)
Cash flows from financing activities:
Net change in purchased funds and other short-term borrowings		(40	)		(754	)		(57	)
Repayment of long-term debt		(1,500	)		(1,500	)		(1,875	)
Purchases of treasury stock		(1,928	)		(153	)		(370	)
Proceeds from the issuance of common stock		—			—			55,597
Stock issued under dividend reinvestment and employee stock purchase plans		2,287			2,189			2,058
Proceeds from the issuance of stock options		—			—			47
Cash dividends paid		(13,367	)		(13,249	)		(11,078	)
Net cash (used in) provided by financing activities		(14,548	)		(13,467	)		44,322
Net increase (decrease) in cash and due from financial institutions		1,906			562			(956	)
Cash and due from financial institutions at beginning of year		648			86			1,042
Cash and due from financial institutions at end of year	$	2,554		$	648		$	86
Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest	$	1,211		$	1,250		$	1,480
Income tax, net of refunds received	$	4,626		$	2,501		$	4,977