Note 27: Condensed Financial Information (Parent Company Only)

Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company:

Condensed Balance Sheets


	2019		2018
Assets
Cash on deposit with Bank	$	2,974	$	3,590
Cash on deposit with others		102		95
Total cash		3,076		3,685
Investment in common stock of subsidiaries		239,917		214,195
Other assets		1,444		2,838
Total assets	$	244,437	$	220,718

Liabilities
Other borrowings	$	17,573	$	17,988
Other liabilities		52		367
Total liabilities		17,625		18,355

Stockholders’ Equity		226,812		202,363
Total liabilities and stockholders’ equity	$	244,437	$	220,718

Condensed Statements of Income


	2019		2018		2017
Income
Dividends from subsidiaries	$	11,000	$	6,695	$	15,100
Other income		15		9		-
Total income		11,015		6,704		15,100
Expenses		2,710		1,922		1,041
Income before income tax and equity in undistributed income of subsidiaries		8,305		4,782		14,059
Income tax benefit		(498)		(412)		(495)
Income before equity in undistributed income (distributions in excess of income) of subsidiaries		8,803		5,194		14,554
Equity in undistributed income (distributions in excess of income) of subsidiaries		14,948		13,670		(2,239)
Net Income Available to Common Shareholders	$	23,751	$	18,864	$	12,315

Condensed Statements of Comprehensive Income


	2019		2018		2017
Net income	$	23,751	$	18,864	$	12,315
Other comprehensive income:
Net unrealized holding gain (loss) on securities available for sale		14,878		(2,912)		3,112
Less: Reclassification adjustment for realized gains included in net income		(1,014)		(804)		(708)
Net unrealized loss relating to defined benefit plan		(215)		(109)		(20)
		13,649		(3,825)		2,384
Income tax (expense) benefit related to other comprehensive income		(2,875)		820		(749)
Other comprehensive income (loss)		10,774		(3,005)		1,635
Comprehensive income	$	34,525	$	15,859	$	13,950

Condensed Statements of Cash Flows


	2019		2018		2017
Operating Activities
Net income	$	23,751	$	18,864	$	12,315
Item not requiring cash
Deferred income tax benefit		314		20		(14)
(Equity in undistributed income) distributions in excess of income of subsidiaries		(14,948)		(13,670)		2,239
Other		865		(660)		74
Net cash provided by operating activities		9,982		4,554		14,614

Investing Activity
Net cash received (paid) in acquisition		-		(16,463)		-
Net cash used in investing activity		-		(16,463)		-

Financing Activities
Repayment of other borrowings	$	(515)	$	(335)	$	-
Proceeds from other borrowings		-		10,000		-
Stock repurchased		(4,262)		-		-
Cash dividends		(6,860)		(6,354)		(4,862)
Proceeds from stock options exercised		1,046		253		1,156
Net cash provided by (used in) financing activities		(10,591)		3,564		(3,706)
Net Change in Cash		(609)		(8,345)		10,908
Cash, Beginning of Year		3,685		12,030		1,122
Cash, End of Year	$	3,076	$	3,685	$	12,030