Parent Company Statements

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

21. Parent Company Statements

Condensed parent company financial statements, which include transactions with subsidiaries, follow:

	December 31
Statements of Financial Condition	2016		2015
	(In Thousands)
Assets
Cash and cash equivalents	$	23,017	$	12,919
Investment in banking subsidiary		290,053		287,436
Investment in non-bank subsidiaries		15,456		15,109
Other assets		1,155		1,191
Total assets	$	329,681	$	316,655
Liabilities and stockholders’ equity:
Subordinated debentures	$	36,083	$	36,083
Accrued liabilities		580		375
Stockholders’ equity		293,018		280,197
Total liabilities and stockholders’ equity	$	329,681	$	316,655

	Years Ended December 31
Statements of Income	2016		2015		2014
	(In Thousands)
Dividends from subsidiaries	$	24,200	$	30,900	$	22,200
Interest on investments		-		1		-
Interest expense		(753)		(613)		(587)
Other income		-		1		2
Noninterest expense		(644)		(588)		(861)
Income before income taxes and equity in earnings of subsidiaries		22,803		29,701		20,754
Income tax credit		(466)		(397)		(485)
Income before equity in earnings of subsidiaries		23,269		30,098		21,239
(Distributions in excess of) undistributed equity in earnings of subsidiaries		5,574		(3,675)		3,053
Net income	$	28,843	$	26,423	$	24,292
Comprehensive income	$	25,436	$	25,931	$	27,861

	Years Ended December 31
Statements of Cash Flows	2016		2015		2014
	(In Thousands)
Operating activities:
Net income	$	28,843	$	26,423	$	24,292
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Distribution in excess of (undistributed equity in) earnings of subsidiaries		(5,574)		3,675		(3,053)
Change in other assets and liabilities		235		(205)		59
Net cash provided by (used in) operating activities		23,504		29,893		21,298
Financing activities:
Repurchase of common stock		(6,293)		(8,436)		(15,519)
Cash dividends paid		(7,890)		(7,159)		(5,937)
Stock Options Exercised		714		1,469		921
Direct stock sales		63		64		76
Repayment of stock warrants		-		(11,979)		-
Net cash used in financing activities		(13,406)		(26,041)		(20,459)
Net increase (decrease) in cash and cash equivalents		10,098		3,852		839
Cash and cash equivalents at beginning of year		12,919		9,067		8,228
Cash and cash equivalents at end of year	$	23,017	$	12,919	$	9,067