Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2017

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)	2017		2016
Assets:
Cash and due from other banks	$	50	$	50
Interest-bearing deposits in subsidiary bank	9,270		7,988
Due from subsidiary bank	9,486		3,255
Available-for-sale investment securities, at fair value (amortized cost of $615 at December 31, 2017 and $1,255 at December 31, 2016)	6,933		8,109
Investments in subsidiaries:
Bank	431,482		395,468
Non-bank	1,812		28,730
Other assets	1,700		1,649
Total assets	$	460,733	$	445,249
Liabilities:
Accrued expenses and other liabilities	$	1,471	$	2,589
Dividends payable	270		165
Mandatorily redeemable capital securities of subsidiary trust	400		7,234
Total liabilities	2,141		9,988
Total stockholders' equity	458,592		435,261
Total liabilities and stockholders' equity	$	460,733	$	445,249

Condensed Statements of Income	Year Ended December 31,
(Dollars in thousands)	2017			2016			2015
Income:
Dividends from subsidiary bank	$	27,000		$	20,500		$	17,500
Dividends from non-bank subsidiary	20,000			1,250			2,000
Net gain on securities transactions	2,602			—			—
Interest and other income	237			209			206
Total income	49,839			21,959			19,706
Expenses:
Trust preferred securities expense	346			397			304
Intercompany management fees	1,361			1,131			3,171
Other expense	3,380			3,154			5,653
Total expenses	5,087			4,682			9,128
Income before federal income taxes and equity in (excess dividends from) undistributed earnings of subsidiaries	44,752			17,277			10,578
Applicable income tax benefit	(1,309		)	(1,718		)	(3,139		)
(Excess dividends from) equity in undistributed earnings of subsidiaries	(7,590		)	12,162			(2,776		)
Net income	$	38,471		$	31,157		$	10,941

Statements of Cash Flows	Year Ended December 31,
(Dollars in thousands)	2017			2016			2015
Operating activities
Net income	$	38,471		$	31,157		$	10,941
Adjustment to reconcile net income to cash provided by operations:
Depreciation, amortization and accretion, net	(6,525		)	190			165
Excess dividends from (equity in) undistributed earnings of subsidiaries	7,590			(12,162		)	2,776
Gain on investment securities	(2,602		)	—			—
Other, net	2,810			355			(1,903		)
Net cash provided by operating activities	39,744			19,540			11,979
Investing activities
Net proceeds from sales and maturities of investment securities	2,359			—			—
Investment in subsidiaries	(50,883		)	(22,769		)	(104,584		)
Decrease (increase) in receivable from subsidiary	25,496			23,389			(2,860		)
Business combinations, net of cash received	—			—			83,391
Other, net	(229		)	—			—
Net cash (used in) provided by investing activities	(23,257		)	620			(24,053		)
Financing activities
Payments on long-term borrowings	—			—			(14,400		)
Purchase of treasury stock	(508		)	(5,480		)	(741		)
Proceeds from issuance of common stock	9			18			—
Cash dividends paid	(14,706		)	(11,173		)	(10,065		)
Excess tax benefit for share-based payments	—			26			51
Net cash used in financing activities	(15,205		)	(16,609		)	(25,155		)
Net increase (decrease) in cash and cash equivalents	1,282			3,551			(37,229		)
Cash and cash equivalents at the beginning of year	8,038			4,487			41,716
Cash and cash equivalents at the end of year	$	9,320		$	8,038		$	4,487
Supplemental cash flow information:
Interest paid	$	364		$	433		$	594