Parent Company - Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

Condensed Balance Sheets

	December 31,
(dollars in thousands)	2018			2017
Assets:
Cash	$	78,143		$	68,535
Investment securities	418			458
Investments in subsidiaries, as equity in net assets	606,023			580,230
Premises and equipment, net	2,091			2,189
Goodwill	245			245
Other assets	1,060			1,135
Total assets	687,980			652,792
Liabilities and shareholders’ equity:
Subordinated notes	98,526			98,416
Junior subordinated debentures	21,580			21,416
Other liabilities	2,485			4,158
Total liabilities	122,591			123,990
Common stock, par value $1; authorized 100,000,000 shares; issued 24,545,348 and 24,360,049 shares as of December 31, 2018 and December 31, 2017, respectively, and outstanding of 20,163,816 and 20,161,395 as of December 31, 2018 and December 31, 2017, respectively	24,545			24,360
Paid-in capital in excess of par value	374,010			371,486
Less: Common stock in treasury at cost - 4,381,532 and 4,198,654 shares as of December 31, 2018 and December 31, 2017, respectively	(75,883		)	(68,179		)
Accumulated other comprehensive loss, net of deferred income taxes benefit	(7,513		)	(4,414		)
Retained earnings	250,230			205,549
Total shareholders’ equity	565,389			528,802
Total liabilities and shareholders’ equity	$	687,980		$	652,792

Condensed Income Statement

Condensed Statements of Income

	Year Ended December 31,
(dollars in thousands)	2018			2017			2016
Dividends from subsidiaries	$	30,900		$	950		$	17,718
Net interest and other income	2,615			2,761			2,714
Total operating income	33,515			3,711			20,432
Expenses	3,527			2,782			2,443
Income before equity in undistributed income of subsidiaries	29,988			929			17,989
Equity in undistributed income of subsidiaries	32,779			21,053			17,600
Income before income taxes	62,767			21,982			35,589
Income tax benefit	(1,025		)	(1,034		)	(447		)
Net income	$	63,792		$	23,016		$	36,036

Condensed Cash Flow Statement

Condensed Statements of Cash Flows

	Year Ended December 31,
(dollars in thousands)	2018			2017			2016
Operating activities:
Net income	$	63,792		$	23,016		$	36,036
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiaries	(32,779		)	(21,053		)	(17,600		)
Depreciation and amortization	98			154			151
Stock-based compensation cost	2,750			2,068			1,713
Other, net	2,860			1,241			1,000
Net cash provided by operating activities	36,721			5,426			21,300
Investing Activities:
Investment in subsidiaries	—			(15,300		)	(15,000		)
Net change in trading securities	40			(58		)	—
Acquisitions, net of cash acquired	—			531			—
Net cash provided by (used in) investing activities	40			(14,827		)	(15,000		)
Financing activities:
Dividends paid	(19,289		)	(14,799		)	(13,961		)
Proceeds from issuance of subordinated notes	—			68,829			—
Net proceeds from sale of (purchase of) treasury stock for deferred compensation plans	2			(115		)	(133		)
Net purchase of treasury stock through publicly announced plans	(5,936		)	—			(7,971		)
Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation	(1,639		)	(1,140		)	(745		)
Proceeds from exercise of stock options	1,464			1,498			2,181
Repurchase of treasury warrants	(1,755		)	—			—
Net cash(usedin)provided by financing activities	(27,153		)	54,273			(20,629		)
Change in cash and cash equivalents	9,608			44,872			(14,329		)
Cash and cash equivalents at beginning of period	68,535			23,663			37,992
Cash and cash equivalents at end of period	$	78,143		$	68,535		$	23,663