Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

Condensed Parent Company financial information is as follows (dollars in thousands):

	December 31,
Condensed Balance Sheets	2019		2018
Cash	$	11,127	$	3,596
Equity securities, at fair value	—		1,830
Securities available for sale, at fair value	8,683		6,361
Investment in subsidiaries	337,983		239,413
Due from subsidiaries	134		170
Other assets	674		64
Total Assets	$	358,601	$	251,434
Subordinated debt	$	7,517	$	—
Junior subordinated debt	28,029		27,927
Other liabilities	2,797		965
Shareholders' equity	320,258		222,542
Total Liabilities and Shareholders' Equity	$	358,601	$	251,434

Condensed Statements of Income

	Years Ended December 31,
Condensed Statements of Income	2019			2018			2017
Dividends from subsidiary	$	25,000		$	11,000		$	6,000
Other income	823			456			588
Expenses	4,232			2,396			1,862
Income tax benefit	(601		)	(407		)	(581		)
Income before equity in undistributed earnings of subsidiary	22,192			9,467			5,307
Equity in undistributed earnings of subsidiary	(1,286		)	13,112			9,942
Net Income	$	20,906		$	22,579		$	15,249

Condensed Statements of Cash Flows

	Years Ended December 31,
Condensed Statements of Cash Flows	2019			2018			2017
Cash Flows from Operating Activities:
Net income	$	20,906		$	22,579		$	15,249
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of securities	—			—			(221		)
Equity in (undistributed) distributions of subsidiary	1,286			(13,112		)	(9,942		)
Net change in other assets	(382		)	(194		)	83
Net change in other liabilities	(35		)	136			(82		)
Net cash provided by operating activities	21,775			9,409			5,087
Cash Flows from Investing Activities:
Purchases of securities available for sale	(2,220		)	—			(373		)
Sales of equity securities	445			431			—
Sales of securities available for sale	—			—			500
Cash paid in bank acquisition	(27		)	—			—
Cash acquired in bank acquisition	981			—			—
Net cash provided by (used in) investing activities	(821		)	431			127
Cash Flows from Financing Activities:
Common stock dividends paid	(10,965		)	(8,702		)	(8,384		)
Repurchase of common stock	(3,146		)	—			—
Proceeds from exercise of stock options	688			861			113
Net cash used in financing activities	(13,423		)	(7,841		)	(8,271		)
Net increase (decrease) in cash and cash equivalents	7,531			1,999			(3,057		)
Cash and cash equivalents at beginning of period	3,596			1,597			4,654
Cash and cash equivalents at end of period	$	11,127		$	3,596		$	1,597