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Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2015
Parent Company Financial Statements [Abstract]  
Parent Company Financial Statements
22.  Parent Company Financial Statements

Condensed Balance Sheets

(in thousands)
December 31
 
2015
  
2014
 
Assets:
    
Cash on deposit
 
$
1,462
  
$
995
 
Investment in and advances to subsidiaries
  
531,702
   
503,252
 
Goodwill
  
4,973
   
4,973
 
Premises and equipment, net
  
145
   
207
 
Other assets
  
911
   
1,173
 
Total assets
 
$
539,193
  
$
510,600
 
         
Liabilities and shareholders' equity:
        
Long-term debt
 
$
61,341
  
$
61,341
 
Other liabilities
  
2,269
   
1,382
 
Total liabilities
  
63,610
   
62,723
 
         
Shareholders' equity
  
475,583
   
447,877
 
         
Total liabilities and shareholders' equity
 
$
539,193
  
$
510,600
 

Condensed Statements of Income and Comprehensive Income

(in thousands)
Year Ended December 31
 
2015
  
2014
  
2013
 
Income:
      
Dividends from subsidiary banks
 
$
19,808
  
$
19,534
  
$
13,035
 
Other income
  
414
   
196
   
545
 
Total income
  
20,222
   
19,730
   
13,580
 
             
Expenses:
            
Interest expense
  
1,170
   
1,131
   
1,161
 
Depreciation expense
  
130
   
153
   
163
 
Other expenses
  
2,465
   
2,550
   
2,442
 
Total expenses
  
3,765
   
3,834
   
3,766
 
             
Income before income taxes and equity in undistributed income of subsidiaries
  
16,457
   
15,896
   
9,814
 
Income tax benefit
  
(1,371
)
  
(1,548
)
  
(1,416
)
Income before equity in undistributed income of subsidiaries
  
17,828
   
17,444
   
11,230
 
Equity in undistributed income of subsidiaries
  
28,604
   
25,807
   
33,942
 
             
Net income
 
$
46,432
  
$
43,251
  
$
45,172
 
             
Other comprehensive income (loss):
            
Unrealized holding gains (losses) on securities available-for-sale:
            
Unrealized holding gains (losses) arising during the period
  
(342
)
  
13,928
   
(31,878
)
Less: Reclassification adjustments for realized losses included in net income
  
(106
)
  
(211
)
  
(45
)
Tax expense (benefit)
  
(83
)
  
4,949
   
(11,142
)
Other comprehensive income (loss), net of tax
  
(153
)
  
9,190
   
(20,691
)
Comprehensive income
 
$
46,279
  
$
52,441
  
$
24,481
 

Condensed Statements of Cash Flows

(in thousands)
Year Ended December 31
 
2015
  
2014
  
2013
 
Cash flows from operating activities:
      
Net income
 
$
46,432
  
$
43,251
  
$
45,172
 
Adjustments to reconcile net income to net cash provided by operating activities:
            
Depreciation
  
130
   
153
   
163
 
Equity in undistributed earnings of subsidiaries
  
(28,604
)
  
(25,807
)
  
(33,942
)
Stock-based compensation
  
783
   
838
   
658
 
Excess tax benefits of stock-based compensation
  
104
   
760
   
572
 
Changes in:
            
Other assets
  
240
   
(558
)
  
660
 
Other liabilities
  
968
   
563
   
1,505
 
Net cash provided by operating activities
  
20,053
   
19,200
   
14,788
 
             
Cash flows from investing activities:
            
Purchase of premises and equipment
  
(45
)
  
(125
)
  
(148
)
Repayment of investments in and advances to subsidiaries
  
0
   
(14
)
  
(40
)
Net cash used in investing activities
  
(45
)
  
(139
)
  
(188
)
             
Cash flows from financing activities:
            
Issuance of common stock
  
2,082
   
1,992
   
6,348
 
Netting of common stock
  
(189
)
  
0
   
0
 
Excess tax benefits of stock-based compensation
  
(104
)
  
(760
)
  
(572
)
Dividends paid
  
(21,330
)
  
(20,570
)
  
(24,546
)
Net cash used in financing activities
  
(19,541
)
  
(19,338
)
  
(18,770
)
             
Net increase (decrease) in cash and cash equivalents
  
467
   
(277
)
  
(4,170
)
Cash and cash equivalents at beginning of year
  
995
   
1,272
   
5,442
 
Cash and cash equivalents at end of year
 
$
1,462
  
$
995
  
$
1,272