Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Parent Company Only Financial Information [Abstract]

Schedule of Condensed Balance Sheet

Condensed Balance Sheets	December 31,
(Dollars in thousands)	2020		2019
Assets:
Cash and due from other banks	$	50	$	50
Interest-bearing deposits in subsidiary bank	14,313		20,094
Due from subsidiary bank	659		140
Other investment securities	225		237
Investments in subsidiaries:
Bank	561,870		573,429
Non-bank	11,771		9,418
Other assets	3,546		3,067
Total assets	$	592,434	$	606,435
Liabilities:
Accrued expenses and other liabilities	$	6,253	$	1,955
Dividends payable	602		342
Mandatorily redeemable capital securities of subsidiary trust	9,906		9,745
Total liabilities	16,761		12,042
Total stockholders' equity	575,673		594,393
Total liabilities and stockholders' equity	$	592,434	$	606,435

Schedule of Condensed Income Statement

Condensed Statements of Income	Year Ended December 31,
(Dollars in thousands)	2020		2019		2018
Income:
Dividends from subsidiary bank	$	49,000	$	37,000	$	13,500
Dividends from non-bank subsidiary	—		—		2,500
Interest and other income	16		81		357
Total income	49,016		37,081		16,357
Expense:
Trust preferred securities expense	373		534		520
Intercompany management fees	1,369		1,607		1,561
Other expense	5,376		5,432		4,647
Total expense	7,118		7,573		6,728
Income before federal income taxes and equity in undistributed earnings of subsidiaries	41,898		29,508		9,629
Applicable income tax expense	(1,128)		(1,670)		(2,511)
(Excess dividends from) equity in undistributed earnings of subsidiaries	(8,259)		22,517		34,115
Net income	$	34,767	$	53,695	$	46,255

Schedule of Condensed Cash Flow Statement

Statements of Cash Flows	Year Ended December 31,
(Dollars in thousands)	2020		2019		2018
Operating activities
Net income	$	34,767	$	53,695	$	46,255
Adjustments to reconcile net income to cash provided by operations:
Depreciation, amortization and accretion, net	161		168		9,177
Excess dividends from (equity in) undistributed earnings of subsidiaries	8,259		(22,517)		(34,115)
Gain on investment securities	(8)		—		—
Other, net	8,492		3,801		31
Net cash provided by operating activities	51,671		35,147		21,348
Investing activities
Net proceeds from sales and maturities of investment securities	10		—		5,388
Investment in subsidiaries	(35,238)		(18,874)		(31,813)
Decrease in receivable from subsidiary	34,719		18,869		32,236
Business combinations, net of cash received	—		(1,438)		(637)
Other, net	(76)		226		228
Net cash (used in) provided by investing activities	(585)		(1,217)		5,402
Financing activities
Purchase of treasury stock	(30,409)		(1,650)		(1,380)
Proceeds from issuance of common stock	594		6		25
Cash dividends paid	(27,052)		(25,942)		(20,915)
Net cash used in financing activities	(56,867)		(27,586)		(22,270)
Net (decrease) increase in cash and cash equivalents	(5,781)		6,344		4,480
Cash and cash equivalents at the beginning of year	20,144		13,800		9,320
Cash and cash equivalents at the end of year	$	14,363	$	20,144	$	13,800
Supplemental cash flow information:
Interest paid	$	385	$	544	$	513