Parent Company Only Condensed Financial Statements

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Only Condensed Financial Statements

PARENT COMPANY ONLY CONDENSED FINANCIAL STATEMENTS

Condensed Balance Sheets

	December 31,
(in thousands)	2016		2015
Assets
Cash	$	52,245	$	12,032
Investment in Enterprise Bank & Trust	416,831		374,092
Investment in nonbank subsidiaries	2,798		1,510
Other assets	22,111		20,357
Total assets	$	493,985	$	407,991
Liabilities and Shareholders' Equity
Subordinated debentures and notes	$	105,540	$	56,807
Accounts payable and other liabilities	1,347		355
Shareholders' equity	387,098		350,829
Total liabilities and shareholders' equity	$	493,985	$	407,991

Condensed Statements of Operations

	Years ended December 31,
(in thousands)	2016		2015		2014
Income:
Dividends from subsidiaries	$	7,500	$	10,000	$	10,000
Other	491		249		225
Total income	7,991		10,249		10,225
Expenses:
Interest expense-subordinated debentures and notes	1,893		1,248		1,322
Interest expense-notes payable	53		144		193
Other expenses	5,526		3,823		4,402
Total expenses	7,472		5,215		5,917
Income before taxes and equity in undistributed earnings of subsidiaries	519		5,034		4,308
Income tax benefit	2,583		2,118		2,305
Net income before equity in undistributed earnings of subsidiaries	3,102		7,152		6,613
Equity in undistributed earnings of subsidiaries	45,735		31,298		20,560
Net income and comprehensive income	$	48,837	$	38,450	$	27,173

Condensed Statements of Cash Flows

	Years Ended December 31,
(in thousands)	2016			2015			2014
Cash flows from operating activities:
Net income	$	48,837		$	38,450		$	27,173
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Share-based compensation	3,367			3,601			2,950
Net income of subsidiaries	(53,235		)	(41,298		)	(30,560		)
Dividends from subsidiaries	7,500			10,000			10,000
Excess tax expense of share-based compensation	(1,327		)	(449		)	(205		)
Other, net	1,848			848			704
Net cash provided by operating activities	6,990			11,152			10,062
Cash flows from investing activities:
Cash contributions to subsidiaries	(250		)	—			—
Purchases of other investments	(2,435		)	(2,832		)	(2,224		)
Proceeds from distributions on other investments	1,151			880			176
Net cash used by investing activities	(1,534		)	(1,952		)	(2,048		)
Cash flows from financing activities:
Proceeds from issuance of subordinated notes	48,733			—			—
Repayments of notes payable	—			(5,700		)	(4,800		)
Cash dividends paid	(8,211		)	(5,259		)	(4,177		)
Excess tax benefit of share-based compensation	1,327			449			205
Payments for the repurchase of common stock	(4,889		)	—			—
Issuance of common stock	2			2			2
Proceeds from the issuance of equity instruments, net	(2,205		)	(1,192		)	(681		)
Net cash provided (used) by financing activities	34,757			(11,700		)	(9,451		)
Net increase (decrease) in cash and cash equivalents	40,213			(2,500		)	(1,437		)
Cash and cash equivalents, beginning of year	12,032			14,532			15,969
Cash and cash equivalents, end of year	$	52,245		$	12,032		$	14,532