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Parent Company Financial Statements (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
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| Condensed Statements of Condition |
STATEMENTS OF CONDITION
| | | | | | | | | | December 31, | | 2014 | | 2013 | ASSETS | |
| | |
| Cash | $ | 23,259 |
| | $ | 21,788 |
| Trading assets | 2,457 |
| | 2,488 |
| Premises and equipment | — |
| | 4,797 |
| Investment in subsidiaries: | |
| | |
| Bank subsidiary | 266,940 |
| | 246,213 |
| Other subsidiary | 9,450 |
| | 8,733 |
| Amounts receivable from subsidiaries | 25 |
| | 2,062 |
| Investments in CCTA and UBCT | 1,331 |
| | 1,331 |
| Other assets | 8,812 |
| | 7,278 |
| Total assets | $ | 312,274 |
| | $ | 294,690 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | |
| Amounts due to subsidiaries | $ | — |
| | $ | 5 |
| Junior subordinated debentures | 44,024 |
| | 43,922 |
| Other liabilities | 23,141 |
| | 19,667 |
| Shareholders’ equity | 245,109 |
| | 231,096 |
| Total liabilities and shareholders’ equity | $ | 312,274 |
| | $ | 294,690 |
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| Condensed Statements of Income |
STATEMENTS OF INCOME | | | | | | | | | | | | | | For The Years Ended December 31, | | 2014 | | 2013 | | 2012 | Operating Income | |
| | |
| | | Dividend income from subsidiaries | $ | 12,800 |
| | $ | 13,500 |
| | $ | 13,400 |
| Fees from subsidiaries | — |
| | 20,930 |
| | 20,070 |
| Other income | 104 |
| | 270 |
| | 170 |
| Total operating income | 12,904 |
| | 34,700 |
| | 33,640 |
| Operating Expenses | |
| | |
| | |
| Interest on borrowings | 2,532 |
| | 2,532 |
| | 2,546 |
| Fees to Bank | 160 |
| | — |
| | — |
| Salaries and employee benefits | — |
| | 13,354 |
| | 13,007 |
| Furniture, equipment and data processing | — |
| | 4,570 |
| | 3,971 |
| Depreciation and amortization | — |
| | 1,197 |
| | 1,196 |
| Stock-based compensation expense | — |
| | 596 |
| | 538 |
| Net occupancy | — |
| | 523 |
| | 492 |
| Other operating expenses | 453 |
| | 1,454 |
| | 1,056 |
| Total operating expenses | 3,145 |
| | 24,226 |
| | 22,806 |
| Income before equity in undistributed earnings of subsidiaries and income taxes | 9,759 |
| | 10,474 |
| | 10,834 |
| Equity in undistributed earnings of subsidiaries | 13,799 |
| | 11,233 |
| | 11,647 |
| Income before income taxes | 23,558 |
| | 21,707 |
| | 22,481 |
| Income tax benefit | 1,012 |
| | 1,076 |
| | 947 |
| Net Income | $ | 24,570 |
| | $ | 22,783 |
| | $ | 23,428 |
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| Condensed Statements of Cash Flows |
STATEMENTS OF CASH FLOWS
| | | | | | | | | | | | | | For The Years Ended December 31, | | 2014 | | 2013 | | 2012 | Operating Activities | |
| | |
| | |
| Net income | $ | 24,570 |
| | $ | 22,783 |
| | $ | 23,428 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |
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| | |
| Equity in undistributed earnings of subsidiaries | (13,799 | ) | | (11,233 | ) | | (11,647 | ) | Depreciation and amortization | — |
| | 1,197 |
| | 1,196 |
| Stock-based compensation expense | — |
| | 596 |
| | 538 |
| Decrease (increase) in amount receivable from subsidiaries | 2,037 |
| | 498 |
| | (983 | ) | Decrease (increase) in other assets | 165 |
| | (845 | ) | | (1,334 | ) | (Decrease) increase in accrued expenses | (2,106 | ) | | 459 |
| | 636 |
| Net cash provided by operating activities | 10,867 |
| | 13,455 |
| | 11,834 |
| Investing Activities | |
| | |
| | |
| Proceeds from sale of assets | 5,237 |
| | — |
| | — |
| Purchase of premises and equipment | — |
| | (896 | ) | | (1,009 | ) | Net cash provided by (used by) investing activities | 5,237 |
| | (896 | ) | | (1,009 | ) | Financing Activities | |
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| | |
| Exercise of stock options and issuance of restricted stock, net of repurchase for tax withholdings and tax benefit | 328 |
| | 300 |
| | (212 | ) | Capital contribution from subsidiaries | 599 |
| | — |
| | — |
| Common stock repurchase | (7,475 | ) | | (2,460 | ) | | (2,097 | ) | Cash dividends paid on common stock | (8,085 | ) | | (8,121 | ) | | (7,667 | ) | Net cash used by financing activities | (14,633 | ) | | (10,281 | ) | | (9,976 | ) | Net increase in cash | 1,471 |
| | 2,278 |
| | 849 |
| Cash at beginning of year | 21,788 |
| | 19,510 |
| | 18,661 |
| Cash at end of year | $ | 23,259 |
| | $ | 21,788 |
| | $ | 19,510 |
| Supplemental information | | | | | | Common stock repurchased not yet settled | $ | — |
| | $ | 320 |
| | $ | — |
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