Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2017

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Parent Company Only Financial Statements

Note (20)—Parent company only financial statements:

	As of December 31,
Balance sheet	2017		2016
Assets
Cash and cash equivalents⁽¹⁾	$	25,789	$	30,993
Investments		1,129		2,074
Investments in Bank subsidiary⁽¹⁾		595,625		325,574
Other assets		5,411		2,972
Goodwill		29		29
Total assets	$	627,983	$	361,642
Liabilities and shareholders' equity
Liabilities
Long-term debt	$	30,930	$	30,930
Accrued expenses and other liabilities		324		214
Total liabilities	$	31,254	$	31,144
Shareholders' equity
Common stock	$	30,536	$	24,108
Additional paid-in capital		418,596		213,480
Retained earnings		147,449		93,784
Accumulated other comprehensive (loss) income		148		(874	)
Total shareholders' equity	$	596,729	$	330,498
Total liabilities and shareholders' equity	$	627,983	$	361,642

(1)	Eliminates in Consolidation

	For the years ended December 31,
Income Statements	2017			2016			2015
Income
Other interest income	$	41		$	33		$	33
Interest income from Bank subsidiary ⁽¹⁾		—			95			121
Gain (loss) on investments		(945	)		417			—
Dividend income from Bank subsidiary ⁽¹⁾		—			14,875			25,105
Earnings from Bank subsidiary ⁽¹⁾		54,713			26,859			23,879
Total income	$	53,809		$	42,279		$	49,138
Expenses
Interest expense	$	1,491		$	1,393		$	1,298
Salaries, legal and professional fees		893			315			3
Other noninterest expense		296			168			59
Federal and state income tax benefit		(1,269	)		(188	)		(78	)
Total expenses	$	1,411		$	1,688		$	1,282
Net income	$	52,398		$	40,591		$	47,856

(1)	Eliminates in Consolidation

	For the years ended December 31,
Statement of Cash Flows	2017			2016			2015
Operating Activities
Net income	$	52,398		$	40,591		$	47,856
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiary bank		(54,713	)		(26,859	)		(23,879	)
Loss (gain) on investments		945			(417	)		—
Stock-based compensation expense		—			4,693			—
(Increase) decrease in other assets		(2,439	)		(427	)		1,292
Increase (decrease) in other liabilities		(551	)		(5,251	)		23
Other, net		-			7			(1	)
Net cash provided by operating activities	$	(4,360	)	$	12,337		$	25,291
Investing Activities
Other investments	$	—		$	724		$	761
Net cash provided by investing activities	$	—		$	724		$	761
Financing Activities
Equity contribution to Bank	$	(154,200	)	$	(20,000	)	$	—
Payment of dividends		—			(69,300	)		(25,350	)
Payment of subordinated debt		—			(10,075	)		—
Net proceeds from sale of common stock		153,356			116,054			—
Net cash (used in) provided by financing activities	$	(844	)	$	16,679		$	(25,350	)
Net (decrease) increase in cash and cash equivalents		(5,204	)		29,740			702
Cash and Cash Equivalents at beginning of year		30,993			1,253			551
Cash and Cash Equivalents at end of year	$	25,789		$	30,993		$	1,253
Supplemental noncash disclosures:
Conversion of cash-settled to stock-settled compensation	$	—		$	5,388		$	—
Forgiveness of intercompany debt	$	—		$	6,024		$	—

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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