Parent Company Only Financial Information

9 Months Ended

Sep. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Only Financial Information

Parent Company Only Financial Information

Interim Condensed Balance Sheets

	September 30 2015		December 31 2014
ASSETS
Cash on deposit at the Bank	$	2,522	$	1,035
AFS securities	259		3,294
Investments in subsidiaries	134,670		124,827
Premises and equipment	2,015		1,982
Other assets	53,188		53,228
TOTAL ASSETS	$	192,654	$	184,366
LIABILITIES AND SHAREHOLDERS’ EQUITY
Other liabilities	$	9,656	$	9,772
Shareholders' equity	182,998		174,594
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	192,654	$	184,366

Interim Condensed Statements of Income

	Three Months Ended   September 30				Nine Months Ended   September 30
	2015		2014		2015		2014
Income
Dividends from subsidiaries	$	1,700	$	1,750	$	5,000	$	4,750
Interest income	4		36		75		114
Management fee and other	1,859		717		4,913		1,945
Total income	3,563		2,503		9,988		6,809
Expenses
Compensation and benefits	1,228		866		3,658		2,470
Occupancy and equipment	415		293		1,226		514
Audit and related fees	101		109		316		278
Other	501		360		1,533		926
Total expenses	2,245		1,628		6,733		4,188
Income before income tax benefit and equity in undistributed earnings of subsidiaries	1,318		875		3,255		2,621
Federal income tax benefit	123		298		588		730
Income before equity in undistributed earnings of subsidiaries	1,441		1,173		3,843		3,351
Undistributed earnings of subsidiaries	2,622		2,232		7,991		6,928
Net income	$	4,063	$	3,405	$	11,834	$	10,279

Interim Condensed Statements of Cash Flows

	Nine Months Ended   September 30
	2015			2014
Operating activities
Net income	$	11,834		$	10,279
Adjustments to reconcile net income to cash provided by operations
Undistributed earnings of subsidiaries	(7,991		)	(6,928		)
Undistributed earnings of equity securities without readily determinable fair values	(364		)	231
Share-based payment awards under equity compensation plan	425			382
Depreciation	113			109
Net amortization of AFS securities	—			1
Changes in operating assets and liabilities which provided (used) cash
Other assets	406			89
Accrued interest and other liabilities	94			1,242
Net cash provided by (used in) operating activities	4,517			5,405
Investing activities
Maturities, calls, principal payments, and sales of AFS securities	3,000			250
Purchases of premises and equipment	(146		)	(23		)
Net (advances to) repayments from subsidiaries	300			641
Net cash provided by (used in) investing activities	3,154			868
Financing activities
Net increase (decrease) in borrowed funds	(211		)	600
Cash dividends paid on common stock	(5,416		)	(5,091		)
Proceeds from the issuance of common stock	3,310			2,845
Common stock repurchased	(3,588		)	(2,550		)
Common stock purchased for deferred compensation obligations	(279		)	(253		)
Net cash provided by (used in) financing activities	(6,184		)	(4,449		)
Increase (decrease) in cash and cash equivalents	1,487			1,824
Cash and cash equivalents at beginning of period	1,035			529
Cash and cash equivalents at end of period	$	2,522		$	2,353