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PARENT COMPANY (Tables)

12 Months Ended

Dec. 31, 2017

PARENT COMPANY

Condensed Balance Sheet

CBTX, INC.

(Parent Company Only)

Condensed Balance Sheets


		At December 31,
(Dollars in thousands)		2017			2016

Assets
Cash and due from banks		$	45,636		$	5,057
Investment in subsidiary			407,305			387,179
Deferred tax asset, net			141			464
Other assets			2,460			1,244
Total assets		$	455,542		$	393,944

Liabilities and shareholders' equity
Liabilities
Junior subordinated debt		$	6,726		$	6,726
Note payable			—			27,679
Other liabilities			2,602			1,902
Total liabilities			9,328			36,307

Shareholders’ equity
Preferred stock		$	—		$	—
Common stock			257			230
Additional paid-in capital			343,249			278,501
Retained earnings			118,353			95,274
Treasury stock			(15,256)			(15,446)
Accumulated other comprehensive loss			(389)			(922)
Total shareholders’ equity		$	446,214		$	357,637
Total liabilities and shareholders’ equity		$	455,542		$	393,944

Condensed Income Statement

CBTX, INC.

(Parent Company Only)

Condensed Income Statements


		For the Years Ended December 31,
(Dollars in thousands)		2017			2016			2015

Interest income
Other		$	142		$	120		$	10
Interest expense
Note payable			906			1,061			932
Junior subordinated debt			322			266			217
Total interest expense			1,228			1,327			1,149
Net interest expense			(1,086)			(1,207)			(1,139)
Noninterest income
Dividend income from subsidiary			8,806			12,250			30,400
Other			—			—			1,025
Total noninterest income			8,806			12,250			31,425
Noninterest expense
Salaries and employee benefits			344			225			197
Net occupancy expense			—			14			—
Data processing			37			28			26
Printing, stationery and office			20			10			5
Professional and director fees			842			341			276
Merger expense			—			—			546
Other expenses			17			31			38
Total noninterest expense			1,260			649			1,088
Income before income tax benefit and equity in undistributed income of subsidiary			6,460			10,394			29,198
Income tax benefit			(1,518)			(639)			(326)
Income before equity in undistributed income of subsidiary			7,978			11,033			29,524
Equity in undistributed income (loss) of subsidiary			19,593			16,175			(5,388)
Net income		$	27,571		$	27,208		$	24,136

Condensed Statements of Cash Flows

CBTX, INC.

(Parent Company Only)

Condensed Statements of Cash Flows


		For the Years Ended December 31,
(Dollars in thousands)		2017			2016			2015

Cash flows from operating activities:
Net income		$	27,571		$	27,208		$	24,136
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Gain on redemption of junior subordinated debt			—			—			(1,025)
Stock-based compensation expense			329			43			12
Equity in undistributed net (income) loss of subsidiary			(19,593)			(16,175)			5,388
Deferred tax provision			391			295			(502)
Change in operating assets and liabilities:
Other assets			(1,216)			1,808			2,378
Other liabilities			552			(97)			28
Total adjustments			(19,537)			(14,126)			6,279
Net cash provided by operating activities			8,034			13,082			30,415
Cash flows from investing activities:
Acquisition of MCBI, net of cash acquired			—			—			(50,414)
Net cash used in investing activities			—			—			(50,414)
Cash flows from financing activities:
Proceeds from sale of common stock in initial public offering			64,519			—			—
Purchase of treasury stock			—			(11,079)			(4,418)
Proceeds from issuance of treasury stock for exercise of stock options			117			3,883			160
Purchase of trust preferred securities			—			—			(3,075)
Proceeds from note payable			—			—			31,000
Repayment of note payable			(27,679)			(3,321)			—
Dividends paid on common stock			(4,412)			(4,395)			(4,487)
Net cash provided (used) in financing activities			32,545			(14,912)			19,180
Net decrease in cash and cash equivalents			40,579			(1,830)			(819)
Cash and cash equivalents, beginning			5,057			6,887			7,706
Cash and cash equivalents, ending		$	45,636		$	5,057		$	6,887