Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2014

Parent Company Only Financial Information [Abstract]

Condensed Financial Information of Parent Company Only Disclosure

Parent Company Only Financial Information

Condensed Balance Sheets	December 31,
(Dollars in thousands)	2014		2013
Assets:
Cash and due from other banks	$	50	$	50
Interest-bearing deposits in subsidiary bank	41,666		5,541
Receivable from subsidiary bank	1,015		828
Available-for-sale investment securities, at fair value (amortized cost of $1,255 at December 31, 2014 and $1,213 at December 31, 2013)	5,214		4,548
Investments in subsidiaries:
Bank	281,360		205,167
Non-bank	30,693		30,527
Other assets	878		854
Total assets	$	360,876	$	247,515
Liabilities:
Accrued expenses and other liabilities	$	6,365	$	6,815
Dividends payable	24		—
Long-term borrowings	14,369		19,147
Total liabilities	20,758		25,962
Common stockholders' equity	340,118		221,553
Total stockholders' equity	340,118		221,553
Total liabilities and stockholders' equity	$	360,876	$	247,515

Condensed Statements of Income	Year Ended December 31,
(Dollars in thousands)	2014			2013			2012
Income:
Dividends from subsidiary bank	$	21,000		$	15,000		$	12,750
Dividends from non-bank subsidiary	500			—			—
Net gain on securities transactions	—			—			273
Net loss on other transactions	—			—			(1,033		)
Interest and other income	205			132			205
Total income	21,705			15,132			12,195
Expenses:
Interest expense on junior subordinated debentures held by subsidiary trust	—			—			1,948
Intercompany management fees	1,546			1,257			1,049
Other expense	4,578			3,411			2,216
Total expenses	6,124			4,668			5,213
Income before federal income taxes and equity in (excess dividends from) undistributed earnings of subsidiaries	15,581			10,464			6,982
Applicable income tax benefit	(2,102		)	(1,510		)	(2,127		)
(Excess dividends from) equity in undistributed earnings of subsidiaries	(999		)	5,600			11,276
Net income	$	16,684		$	17,574		$	20,385

Statements of Cash Flows	Year Ended December 31,
(Dollars in thousands)	2014			2013			2012
Operating activities
Net income	$	16,684		$	17,574		$	20,385
Adjustment to reconcile net income to cash provided by operations:
Excess dividends from (equity in) undistributed earnings of subsidiaries	999			(5,600		)	(11,276		)
Gain on investment securities	—			—			(273		)
Loss on debt extinguishment	—			—			1,033
Other, net	1,809			1,803			(663		)
Net cash provided by operating activities	19,492			13,777			9,206
Investing activities
Net proceeds from sales and maturities of investment securities	—			—			273
Investment in subsidiaries	(28,574		)	—			(9,815		)
Change in receivable from subsidiary	17,009			(619		)	3,814
Business acquisitions, net of cash received	(42		)	—			—
Net cash used in investing activities	(11,607		)	(619		)	(5,728		)
Financing activities
Proceeds from long-term borrowings	—			—			24,000
Payments on long-term borrowings	(4,800		)	(4,800		)	—
Redemption of junior subordinated debentures	—			—			(23,668		)
Purchase of treasury stock	(520		)	(228		)	(1,357		)
Proceeds from issuance of common stock	40,242			8			6
Cash dividends paid	(6,767		)	(5,419		)	(4,457		)
Excess tax benefit for share-based payments	85			79			709
Net cash provided by (used in) financing activities	28,240			(10,360		)	(4,767		)
Net increase (decrease) in cash and cash equivalents	36,125			2,798			(1,289		)
Cash and cash equivalents at the beginning of year	5,591			2,793			4,082
Cash and cash equivalents at the end of year	$	41,716		$	5,591		$	2,793
Supplemental cash flow information:
Interest paid	$	672		$	915		$	2,246