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Condensed Financial Information - Parent Company Only
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information - Parent Company Only CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY
CONDENSED BALANCE SHEETS
 
 
December 31,
(in thousands)
 
2019
 
2018
ASSETS
 
 
 
 
Cash and due from banks
 
$
29,981

 
$
23,285

Equity securities
 
1,735

 
2,743

Investment securities, held to maturity
 
1,000

 
1,000

Investment in subsidiaries
 
802,079

 
695,571

Other assets
 
9,828

 
7,182

TOTAL ASSETS
 
$
844,623

 
$
729,781

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
Other liabilities
 
$
1,140

 
$
1,015

Subordinated debentures
 
118,220

 
105,027

Total stockholders’ equity
 
725,263

 
623,739

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
 
$
844,623

 
$
729,781


CONDENSED STATEMENTS OF INCOME
 
 
Years Ended December 31,
(in thousands)
 
2019
 
2018
 
2017
INCOME
 
 
 
 
 
 
Dividends from subsidiaries
 
$
36,905

 
$
30,589

 
$
26,665

Other income (loss)
 
408

 
(125
)
 
2,750

TOTAL INCOME
 
37,313

 
30,464

 
29,415

EXPENSE
 
 
 
 
 
 
Interest on subordinated debentures
 
5,983

 
5,141

 
5,091

Noninterest expenses
 
464

 
506

 
377

TOTAL EXPENSE
 
6,447

 
5,647

 
5,468

Income before benefit for income taxes
 
30,866

 
24,817

 
23,947

Income taxes benefit
 
(1,646
)
 
(1,130
)
 
(2,018
)
Income before equity in undistributed income of subsidiaries
 
32,512

 
25,947

 
25,965

Equity in undistributed income of subsidiaries
 
38,160

 
37,454

 
26,615

NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
 
$
70,672

 
$
63,401

 
$
52,580


CONDENSED STATEMENTS OF CASH FLOWS
 
 
Years Ended December 31,
(in thousands)
 
2019
 
2018
 
2017
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
 
 
 
Net income
 
$
70,672

 
$
63,401

 
$
52,580

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
 
 
Gain on securities
 
—

 
—

 
(2,539
)
Amortization of subordinated debt costs
 
36

 
125

 
118

Change in market value of equity securities
 
(197
)
 
338

 
—

Excess tax benefits
 
189

 
318

 
587

Increase in other assets
 
(1,873
)
 
(1,446
)
 
(1,927
)
Increase (decrease) in other liabilities
 
121

 
(6
)
 
(17
)
Equity in undistributed income of subsidiaries
 
(38,160
)
 
(37,454
)
 
(26,615
)
NET CASH PROVIDED BY OPERATING ACTIVITIES
 
30,788

 
25,276

 
22,187

CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
 
 
Purchases of available for sale securities
 
—

 
—

 
(79
)
Purchases of equity securities
 
(82
)
 
(78
)
 
—

Proceeds from sale of available for sale securities
 
—

 
—

 
3,217

Proceeds from sale of equity securities
 
1,287

 
2,155

 
—

Net cash received from business acquisition
 
24

 
—

 
—

NET CASH PROVIDED BY INVESTING ACTIVITIES
 
1,229


2,077

 
3,138

CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
 
 
Cash dividends paid on common stock
 
(24,919
)
 
(21,307
)
 
(18,853
)
Retirement of restricted stock
 
(715
)
 
(763
)
 
(773
)
Exercise of stock options
 
313

 
307

 
321

NET CASH USED IN FINANCING ACTIVITIES
 
(25,321
)
 
(21,763
)
 
(19,305
)
Net increase in cash and cash equivalents
 
6,696

 
5,590

 
6,020

Cash and cash equivalents, beginning of year
 
23,285

 
17,695

 
11,675

CASH AND CASH EQUIVALENTS, END OF YEAR
 
$
29,981

 
$
23,285

 
$
17,695