Condensed Financial Information (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2020


	December 31 2020		December 31 2019
Assets
Total cash and cash equivalents	$	127,044	$	50,961
Investment in subsidiaries	685,966		666,639
Other assets	3,902		3,882
Total assets	$	816,912	$	721,482
Liabilities
Subordinated notes	$	58,603	$	—
Junior subordinated debentures issued to capital trusts	56,548		56,311
Other liabilities	9,545		9,148
Stockholders’ Equity	692,216		656,023
Total liabilities and stockholders’ equity	$	816,912	$	721,482


	Years Ended December 31
	2020		2019		2018
Operating Income (Expense)
Dividend income from subsidiaries	$	61,400	$	46,150	$	46,950
Other income	106		—		—
Interest expense	(4,483)		(3,209)		(2,475)
Employee benefit expense	(1,997)		(1,687)		(1,423)
Other expense	(517)		(416)		(357)
Income Before Undistributed Income of Subsidiaries	54,509		40,838		42,695
Undistributed Income of Subsidiaries	13,131		25,053		9,643
Income Before Tax	67,640		65,891		52,338
Income Tax Benefit	859		647		779
Net Income Available to Common Shareholders	$	68,499	$	66,538	$	53,117


	Years Ended December 31
	2020		2019		2018
Net Income	$	68,499	$	66,538	$	53,117
Other Comprehensive Income (Loss)
Change in fair value of derivative instruments, net of taxes	(3,004)		(2,117)		(25)
Unrealized appreciation for the period on held to maturity securities, net of taxes	(46)		(92)		(150)
Unrealized appreciation (depreciation) on available for sale securities, net of taxes	27,865		16,726		(4,003)
Less: reclassification adjustment for realized (gains) losses included in net income, net of taxes	(3,395)		59		351
	21,420		14,576		(3,827)
Comprehensive Income	$	89,919	$	81,114	$	49,290


	Years Ended December 31
	2020		2019		2018
Operating Activities
Net income	$	68,499	$	66,538	$	53,117
Items not requiring (providing) cash
Equity in undistributed net income of subsidiaries	(13,131)		(25,053)		(9,643)
Change in:
Share based compensation	132		215		251
Amortization of unearned compensation	1,206		705		169
Other assets	(20)		(5,449)		132
Other liabilities	(14)		1,629		378
Net cash provided by operating activities	56,672		38,585		44,404
Investing Activities
Repurchase of outstanding stock	(19,636)		(1,595)		—


Acquisition of Salin	—		2,350		—
Net cash (used in) provided by investing activities	(19,636)		755		—
Financing Activities
Net change in borrowings	16		98		(12,316)
Dividends paid on common shares	(21,183)		(20,835)		(15,418)
Proceeds from issuance of stock	1,390		1,705		622
Net proceeds from issuance of subordinated notes	58,824		—		—
Net cash used in financing activities	39,047		(19,032)		(27,112)
Net Change in Cash and Cash Equivalents	76,083		20,308		17,292
Cash and Cash Equivalents at Beginning of Year	50,961		30,653		13,361
Cash and Cash Equivalents at End of Year	$	127,044	$	50,961	$	30,653