XML 142 R123.htm IDEA: XBRL DOCUMENT v3.7.0.1
Parent Company Financial Statements (Statements of Cash Flows) (Details) - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating Activities                      
Net income $ 10,902,000 $ 10,903,000 $ 9,616,000 $ 8,646,000 [1] $ 1,692,000 [2] $ 6,456,000 $ 7,193,000 $ 5,611,000 $ 40,067,000 $ 20,952,000 $ 24,570,000
Depreciation and amortization expense                 4,426,000 3,614,000 3,051,000
Stock-based compensation expense                 1,997,000 836,000 599,000
(Increase) decrease in other assets                 11,329,000 (7,062,000) (3,349,000)
Net cash provided by operating activities                 57,418,000 15,918,000 29,886,000
Investing Activities                      
Proceeds from sale of assets                 90,000 0 0
Purchase of premises and equipment                 (1,671,000) (3,189,000) (1,316,000)
Net cash used in investing activities                 (167,953,000) (54,744,000) (170,512,000)
Financing Activities                      
Issuance of subordinated debt, net of issuance costs                 0 14,464,000 0
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings and tax benefit                 (894,000) (753,000) (328,000)
Equity issuance costs                 0 (612,000) 0
Common stock repurchases                 0 0 (7,475,000)
Cash dividends paid on common stock and cash in lieu for fractional shares paid due to stock split                 (12,394,000) (9,785,000) (8,085,000)
Net cash provided by financing activities                 118,754,000 57,501,000 150,084,000
Net increase in cash and cash equivalents                 8,219,000 18,675,000 9,458,000
Cash and cash equivalents at beginning of year       79,488,000       60,813,000 79,488,000 60,813,000 51,355,000
Cash and cash equivalents at end of year 87,707,000       79,488,000       87,707,000 79,488,000 60,813,000
Parent Company [Member]                      
Operating Activities                      
Net income                 40,067,000 20,952,000 24,570,000
Equity in undistributed (income) losses of subsidiaries                 (26,651,000) 4,573,000 (13,799,000)
Depreciation and amortization expense                 (4,000) 0 0
(Increase) decrease in receivable from subsidiaries                 1,819,000 (1,901,000) 2,037,000
(Increase) decrease in other assets                 1,213,000 (2,175,000) 165,000
Increase (decrease) in due to subsidiaries                 (1,179,000) 1,216,000 0
Increase (decrease) in other liabilities                 (2,519,000) 320,000 (2,106,000)
Net cash provided by operating activities                 12,746,000 22,985,000 10,867,000
Investing Activities                      
Acquisition of SBM, net of cash acquired                 0 (25,319,000) 0
Proceeds from Sale of Available-for-sale Securities, Equity                 80,000 0 0
Proceeds from sale of assets                 0 0 5,237,000
Net cash used in investing activities                 80,000 (25,319,000) 5,237,000
Financing Activities                      
Issuance of subordinated debt, net of issuance costs                 0 14,464,000 0
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings and tax benefit                 (894,000) (753,000) (328,000)
Capital contribution from subsidiaries                 1,997,000 836,000 599,000
Equity issuance costs                 0 (612,000) 0
Common stock repurchases                 0 0 (7,475,000)
Cash dividends paid on common stock and cash in lieu for fractional shares paid due to stock split                 (12,393,000) (9,785,000) (8,085,000)
Net cash provided by financing activities                 (9,502,000) 5,656,000 (14,633,000)
Net increase in cash and cash equivalents                 3,324,000 3,322,000 1,471,000
Cash and cash equivalents at beginning of year       $ 26,581,000       $ 23,259,000 26,581,000 23,259,000 21,788,000
Cash and cash equivalents at end of year $ 29,905,000       $ 26,581,000       $ 29,905,000 $ 26,581,000 $ 23,259,000
[1] (1)In the second quarter of 2016, the Company adopted ASU 2016-09 effective as of January 1, 2016. As such, first quarter 2016 financial results have been restated from previously reported within Form 10-Q.
[2] On October 16, 2015, the Company completed its acquisition of SBM. Fourth quarter 2015 results of operations include revenues and expenses incurred as a combined organization from the acquisition date through December 31, 2015. The decrease in basic and diluted EPS in the fourth quarter of 2015 was due to acquisition costs and the issuance of 4.1 million shares of Company common stock (as adjusted for the three-for-two common stock split effective September 30, 2016) in connection with the acquisition. Refer to Note 2 for additional details of the acquisition