Parent Company Financial Information

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Information

Parent Company Financial Information

Condensed Parent Company financial information is as follows (dollars in thousands):

	December 31,
Condensed Balance Sheets	2017		2016
Cash	$	1,597	$	4,654
Securities available for sale, at fair value	8,740		8,355
Investment in subsidiaries	226,452		216,340
Due from subsidiaries	46		120
Other assets	31		40
Total Assets	$	236,866	$	229,509
Trust preferred capital notes	$	27,826	$	27,724
Other liabilities	323		405
Shareholders' equity	208,717		201,380
Total Liabilities and Shareholders' Equity	$	236,866	$	229,509

	Years Ended December 31,
Condensed Statements of Income	2017			2016			2015
Dividends from subsidiary	$	6,000		$	16,000		$	11,000
Other income	588			117			80
Expenses	1,862			1,662			1,156
Income tax benefit	(581		)	(526		)	(366		)
Income before equity in undistributed earnings of subsidiary	5,307			14,981			10,290
Equity in undistributed earnings of subsidiary	9,942			1,320			4,749
Net Income	$	15,249		$	16,301		$	15,039

	Years Ended December 31,
Condensed Statements of Cash Flows	2017			2016			2015
Cash Flows from Operating Activities:
Net income	$	15,249		$	16,301		$	15,039
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of securities	(221		)	—			—
Equity in (undistributed) distributions of subsidiary	(9,942		)	(1,320		)	(4,749		)
Net change in other assets	83			(57		)	257
Net change in other liabilities	(82		)	163			106
Net cash provided by operating activities	5,087			15,087			10,653
Cash Flows from Investing Activities:
Purchases of securities available for sale	(373		)	(6,588		)	—
Sales of securities available for sale	500			—			—
Investment in banking subsidiary	—			—			563
Cash paid in bank acquisition	—			—			(5,935		)
Net cash provided by (used in) investing activities	127			(6,588		)	(5,372		)
Cash Flows from Financing Activities:
Common stock dividends paid	(8,384		)	(8,266		)	(8,068		)
Repurchase of common stock	—			(1,292		)	(3,506		)
Proceeds from exercise of stock options	113			142			789
Proceeds from issuance of common stock	—			—			95
Net cash used in financing activities	(8,271		)	(9,416		)	(10,690		)
Net decrease in cash and cash equivalents	(3,057		)	(917		)	(5,409		)
Cash and cash equivalents at beginning of period	4,654			5,571			10,980
Cash and cash equivalents at end of period	$	1,597		$	4,654		$	5,571