Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Statements of Condition

Following are the condensed statements of condition, income and cash flows for the Company's parent company:

STATEMENTS OF CONDITION

	December 31,
	2016		2015
ASSETS
Cash	$	29,905	$	26,581
Investment in subsidiaries:
Bank	429,100		394,404
Acadia Trust(1)	—		10,232
Receivable from subsidiaries	107		1,926
Other assets	12,420		13,939
Total assets	$	471,532	$	447,082
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debentures	$	58,755	$	58,590
Due to subsidiaries	37		1,216
Other liabilities	21,193		24,086
Shareholders’ equity	391,547		363,190
Total liabilities and shareholders’ equity	$	471,532	$	447,082

Condensed Statements of Income

STATEMENTS OF INCOME

	For The Year Ended December 31,
	2016		2015			2014
Operating Income
Dividend income from subsidiaries	$	16,000	$	39,200		$	12,800
Other income (loss)	239		(18		)	104
Total operating income	16,239		39,182			12,904
Operating Expenses
Interest on borrowings	3,415		2,734			2,532
Fees to Bank	160		160			160
Other operating expenses	748		469			453
Total operating expenses	4,323		3,363			3,145
Income before equity in undistributed earnings of subsidiaries and income taxes	11,916		35,819			9,759
Equity in undistributed income (losses) of subsidiaries	26,773		(15,999		)	13,799
Income before income taxes	38,689		19,820			23,558
Income tax benefit	1,378		1,132			1,012
Net Income	$	40,067	$	20,952		$	24,570

Condensed Statements of Cash Flows

STATEMENTS OF CASH FLOWS

	For The Year Ended December 31,
	2016			2015			2014
Operating Activities
Net income	$	40,067		$	20,952		$	24,570
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed (income) losses of subsidiaries	(26,651		)	4,573			(13,799		)
Gain on sale of investment securities	(4		)	—			—
(Increase) decrease in receivable from subsidiaries	1,819			(1,901		)	2,037
(Increase) decrease in other assets	1,213			(2,175		)	165
Increase (decrease) in due to subsidiaries	(1,179		)	1,216			—
Increase (decrease) in other liabilities	(2,519		)	320			(2,106		)
Net cash provided by operating activities	12,746			22,985			10,867
Investing Activities
Acquisition of SBM, net of cash acquired	—			(25,319		)	—
Proceeds from sale of investment securities	80			—			—
Proceeds from sale of assets	—			—			5,237
Net cash provided by (used in) investing activities	80			(25,319		)	5,237
Financing Activities
Issuance of subordinated debt, net of issuance costs	—			14,464			—
Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings and tax benefit	894			753			328
Capital contribution from subsidiaries	1,997			836			599
Equity issuance costs	—			(612		)	—
Common stock repurchase	—			—			(7,475		)
Cash dividends paid on common stock and cash in-lieu paid for fractional shares due to stock split	(12,393		)	(9,785		)	(8,085		)
Net cash provided by (used in) financing activities	(9,502		)	5,656			(14,633		)
Net increase in cash	3,324			3,322			1,471
Cash at beginning of year	26,581			23,259			21,788
Cash at end of year	$	29,905		$	26,581		$	23,259