Annual report pursuant to Section 13 and 15(d)

Note 22 - Parent Company Financial Information (Tables)

v3.19.3.a.u2
Note 22 - Parent Company Financial Information (Tables)
12 Months Ended
Dec. 31, 2019
Notes Tables  
Condensed Balance Sheet [Table Text Block]
   

December 31,

2019

   

December 31,

2018

 

ASSETS

               

Cash and due from banks

  $ 10,071     $ 9,034  

Investment in subsidiary

    904,958       778,112  

Other assets

    1,238       239  

Total assets

  $ 916,267     $ 787,385  
                 

LIABILITIES AND STOCKHOLDERS' EQUITY

               

Liabilities:

               

Other borrowings

  $ 64,703     $ 64,666  

Other liabilities

    9,384       8,018  

Total liabilities

    74,087       72,684  

Stockholders' equity:

               

Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at December 31, 2019 and December 31, 2018

    -       -  

Common stock, par value $0.001 per share; 100,000,000 shares authorized; 53,623,740 shares issued and outstanding at December 31, 2019 and 53,375,195 shares issued and outstanding at December 31, 2018

    54       53  

Additional paid-in capital

    219,766       218,521  

Retained earnings

    616,611       500,868  

Accumulated other comprehensive (loss) income

    5,749       (4,741 )

Total stockholders' equity

    842,180       714,701  

Total liabilities and stockholders' equity

  $ 916,267     $ 787,385  
Condensed Income Statement [Table Text Block]
   

2019

   

2018

   

2017

 

Income:

                       

Dividends received from subsidiary

  $ 37,000     $ 23,000     $ 6,500  

Other income

    -       176       2  

Total income

    37,000       23,176       6,502  

Expense:

                       

Other expenses

    2,930       2,933       2,260  

Total expenses

    2,930       2,933       2,260  

Equity in undistributed earnings of subsidiary

    115,110       116,634       88,788  

Net income

    149,180       136,877       93,030  

Dividends on preferred stock

    -       -       -  

Net income available to common stockholders

  $ 149,180     $ 136,877     $ 93,030  
Condensed Cash Flow Statement [Table Text Block]
   

2019

   

2018

   

2017

 

Operating activities

                       

Net income

  $ 149,180     $ 136,877     $ 93,030  

Adjustments to reconcile net income to net cash provided by operating activities:

                       

Other

    38       (1,181 )     (314 )

Equity in undistributed earnings of subsidiary

    (115,110 )     (116,634 )     (88,788 )

Net cash provided by operating activities

    34,108       19,062       3,928  

Investing activities

                       

Investment in subsidiary

    -       -       -  

Other

    (1,000 )     275       -  

Net cash used in investing activities

    (1,000 )     275       -  

Financing activities

                       

Proceeds from issuance of subordinated notes

    -       -       29,943  

Redemption of subordinated notes

    -       -       (20,000 )

Dividends paid on common stock

    (32,071 )     (20,194 )     (10,040 )

Net cash provided by financing activities

    (32,071 )     (20,194 )     (97 )

Increase (decrease) in cash and cash equivalents

    1,037       (857 )     3,831  

Cash and cash equivalents at beginning of year

    9,034       9,891       6,060  

Cash and cash equivalents at end of year

  $ 10,071     $ 9,034     $ 9,891