Condensed Financial Information - Parent Company (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Balance Sheets-December 31, 2012 and 2011


	2012			2011
ASSETS

Cash in subsidiary bank	$	4,780		$	16,800
Cash in unaffiliated banks		2			2
Interest-bearing deposits in unaffiliated bank		—			5,026
Interest-bearing deposits in subsidiary bank		67,263			28,192

Total cash and cash equivalents		72,045			50,020

Interest-bearing time deposits in unaffiliated banks		3,078			2,118
Securities available-for-sale, at fair value		12,706			17,729
Investment in and advances to subsidiaries, at equity		468,502			446,320
Intangible assets		723			723
Other assets		1,961			2,009


Total assets	$	559,015		$	518,919


LIABILITIES AND SHAREHOLDERS’ EQUITY

Total liabilities	$	2,052		$	10,382
Shareholders’ equity:
Common stock		315			315
Capital surplus		277,412			276,126
Retained earnings		227,927			184,871
Treasury shares		(5,007	)		(4,597	)
Deferred compensation		5,007			4,597
Accumulated other comprehensive earnings		51,309			47,225


Total shareholders’ equity		556,963			508,537


Total liabilities and shareholders’ equity	$	559,015		$	518,919

Condensed Statements of Earnings-

For the Years Ended December 31, 2012, 2011 and 2010


	2012		2011		2010
Income:
Cash dividends from subsidiaries	$	58,400	$	47,350	$	41,050
Excess of earnings over dividends of subsidiary bank		17,547		22,722		20,149
Other income		2.682		2,435		1,991


		78,629		72,507		63,190

Expenses:
Salaries and employee benefits		3,668		3,493		2,833
Other operating expenses		2,338		2,199		2,068


		6,006		5,692		4,901


Earnings before income taxes		72,623		66,815		58,289

Income tax benefit		1,602		1,554		1,370


Net earnings	$	74,225	$	68,369	$	59,659

Condensed Statements of Cash Flows-

For the Years Ended December 31, 2012, 2011, and 2010


	2012			2011			2010
Cash flows from operating activities:
Net earnings	$	74,225		$	68,369		$	59,659
Adjustments to reconcile net earnings to net cash provided by operating activities:
Excess of earnings over dividends of subsidiary bank		(17,547	)		(22,722	)		(20,149	)
Depreciation and amortization, net		142			187			171
Decrease in other assets		34			396			10
Increase (decrease) in liabilities		(918	)		774			(29	)


Net cash provided by operating activities		55,936			47,004			39,662


Cash flows from investing activities:
Acquisition of bank		—			—			(18,200	)
Net decrease (increase) in interest-bearing time deposits in unaffiliated banks		(960	)		2,160			(198	)
Purchase of available for sale securities		—			(5,756	)		(5,649	)
Maturities of available for securities		5,430			2,500			2,500
Purchases of bank premises and equipment		(86	)		(204	)		(59	)
Repayment from (of advances related to) investment in and advances to subsidiaries, net		(400	)		820			(200	)

Net cash used in (provided by) investing activities		3,984			(480	)		(21,806	)


Cash flows from financing activities:
Proceeds of stock issuances		824			950			790
Cash dividends paid		(38,719	)		(29,359	)		(28,346	)


Net cash used in financing activities		(37,895	)		(28,409	)		(27,556	)


Net increase (decrease) in cash and cash equivalents		22,025			18,115			(9,700	)

Cash and cash equivalents, beginning of year		50,020			31,905			41,605


Cash and cash equivalents, end of year	$	72,045		$	50,020		$	31,905