Parent Company only Condensed Financial Information (Tables) - HCC (Parent)

12 Months Ended

Dec. 31, 2019

Condensed financial statements

Schedule of condensed balance sheets

Condensed Balance Sheets

	December 31,
	2019		2018
	(Dollars in thousands)
Assets
Cash and cash equivalents	$	20,260	$	21,358
Investment in subsidiary bank		594,868		384,516
Other assets		1,761		1,194
Total assets	$	616,889	$	407,068
Liabilities and Shareholders' Equity
Subordinated debt, net of issuance costs		39,554		39,369
Other liabilities		627		233
Shareholders' equity		576,708		367,466
Total liabilities and shareholders' equity	$	616,889	$	407,068

Schedule of condensed statements of income

Condensed Statements of Operations

	Year Ended December 31,
	2019		2018		2017
	(Dollars in thousands)
Dividend from subsidiary bank	$	22,500	$	17,000	$	16,000
Other income		121		—		114
Interest expense		(2,314)		(2,315)		(1,394)
Other expenses		(3,084)		(3,030)		(2,270)
Income before income taxes and equity in net income of subsidiary bank		17,223		11,655		12,450
Equity in undistributed net income of subsidiary bank		21,757		22,161		10,078
Income tax benefit		1,481		1,515		1,300
Net income	$	40,461	$	35,331	$	23,828

Schedule of condensed statements of cash flows

Condensed Statements of Cash Flows

	Year Ended December 31,
	2019		2018		2017
	(Dollars in thousands)
Cash flows from operating activities:
Net Income	$	40,461	$	35,331	$	23,828
Adjustments to reconcile net income to net cash provided by operations:
Amortization of restricted stock awards, net		1,283		1,109		912
Equity in undistributed net income of subsidiary bank		(21,757)		(22,161)		(10,078)
Net change in other assets and liabilities		12		(64)		224
Net cash provided by operating activities		19,999		14,215		14,886
Cash flows from financing activities:
Equity investment in subsidiary bank		—		—		(20,000)
Payment of cash dividends		(22,723)		(18,464)		(15,238)
Proceeds from issuance of subordinated debt, net of issuance costs		—		—		39,073
Proceeds from exercise of stock options		1,626		2,667		1,368
Net cash provided by (used in) financing activities		(21,097)		(15,797)		5,203
Net increase (decrease) in cash and cash equivalents		(1,098)		(1,582)		20,089
Cash and cash equivalents, beginning of year		21,358		22,940		2,851
Cash and cash equivalents, end of year	$	20,260	$	21,358	$	22,940