Condensed Financial Information-Parent Only

12 Months Ended

Dec. 31, 2013

Condensed Financial Information-Parent Only [Abstract]

Condensed Financial Information-Parent Only

Note T—Condensed Financial Information—Parent Only

Condensed Balance Sheets

	December 31,
	2013	2012
	(in thousands)
Assets
Cash and due from banks	$           70,612	$          84,261
Investment in bank subsidiaries	294,010	259,217
Other assets	8,401	6,691
Total assets	$         373,023	$        350,169
Liabilities and stockholders' equity
Other liabilities	$                  18	$                 91
Subordinated debentures	13,401	13,401
Stockholders' equity	359,604	336,677
Total liabilities and stockholders' equity	$         373,023	$        350,169

Condensed Statements of Operations

	Years ended
	December 31,
	2013	2012	2011
	(in thousands)
Income
Other income	$           27,415	$        23,802	$        18,239
Total income	27,415	23,802	18,239
Expense
Interest on subordinated debentures	548	869	863
Non-interest expense	29,507	24,563	18,769
Total expense	30,055	25,432	19,632
Equity in undistributed income of subsidiaries	26,593	17,436	9,824
Income before tax benefit	23,953	15,806	8,431
Income tax (benefit)	(1,157)	(818)	(487)
Net income available to common shareholders	$           25,110	$        16,624	$          8,918

Condensed Statements of Cash Flows

	Years ended
	December 31,
	2013	2012	2011
	(in thousands)
Operating activities
Net income	$           25,110	$          16,624	$            8,918
(Increase) decrease in other assets	(1,735)	(1,749)	1,407
Increase (decrease) in other liabilities	(73)	53	8
Stock based compensation expense	3,157	2,595	1,800
Equity in undistributed income	(26,593)	(17,436)	(9,824)
Net cash used in (provided by) operating activities	(134)	87	2,309
Investing activities
Purchase of equity security	-	-	(3,000)
Contribution to subsidiary	(16,798)	(31,283)	-
Net cash used in investing activities	(16,798)	(31,283)	(3,000)
Financing activities
Proceeds from the issuance of common stock	1,629	41,713	54,501
Proceeds from the exercise of common stock options	1,653	454	-
Purchase of treasury stock	-	-	(866)
Net cash provided by financing activities	3,282	42,167	53,635
Net increase (decrease) in cash and cash equivalents	(13,650)	10,971	52,944
Cash and cash equivalents, beginning of year	84,262	73,291	20,347
Cash and cash equivalents, end of year	$           70,612	$          84,262	$          73,291