Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2014

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Parent Company Only Condensed Financial Information

NOTE 20 — PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed Parent Company Only Balance Sheets:

	December 31,		December 31,
(Dollars in thousands)	2014		2013
ASSETS
Cash and cash equivalents	$	52,553	$	23,009
Investment in subsidiaries		181,133		148,675
Other assets		3,994		4,751
Total assets	$	237,680	$	176,435
LIABILITIES AND EQUITY
Senior secured note	$	—	$	12,573
Accrued expenses and other liabilities		171		3,265
Total liabilities		171		15,838
Stockholders' equity		237,509		133,600
Noncontrolling interests		—		26,997
Total liabilities and equity	$	237,680	$	176,435

Condensed Parent Company Only Statements of Income:

	Years Ended December 31,
(Dollars in thousands)	2014			2013			2012
Interest income	$	75		$	58		$	8
Interest expense		(584	)		(123	)		—
Bargain purchase gain		—			9,014			—
Other income		545			—			—
Other expense		(4,699	)		(4,262	)		(412	)
Income before income tax and undistributed subsidiary income		(4,663	)		4,687			(404	)
Income tax benefit		2,015			1,360			262
Equity in undistributed subsidiary income		22,437			7,380			11,216
Net income		19,789			13,427			11,074
Income attributable to noncontrolling interests		(2,060	)		(867	)		(993	)
Dividends on preferred stock		(780	)		(721	)		—
Net income available to common stockholders	$	16,949		$	11,839		$	10,081
Comprehensive income attributable to Parent	$	18,547		$	12,237		$	10,233

Condensed Parent Company Only Statements of Cash Flows:

	Years Ended December 31,
(Dollars in thousands)	2014			2013			2012
Cash flows from operating activities:
Net income	$	19,789		$	13,427		$	11,074
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed subsidiary income		(22,437	)		(7,380	)		(11,216	)
Bargain purchase gain		—			(9,014	)		—
Change in other assets		757			(4,310	)		(441	)
Change in accrued expenses and other liabilities		(3,094	)		3,119			142
Net cash used in operating activities		(4,985	)		(4,158	)		(441	)
Cash flows from investing activities:
Investment in subsidiaries		(6,513	)		(13,984	)		(9,006	)
Cash used in acquisition of subsidiaries		—			(15,277	)		—
Net cash used in investing activities		(6,513	)		(29,261	)		(9,006	)
Cash flows from financing activities:
Issuance of senior secured note		—			12,573			—
Noncontrolling interests issuances, net		—			—			6,962
Issuance of common stock in connection with initial public offering, net of expenses		83,767			—			—
Issuance of common stock		43			42,402			1,000
Exchange offer		—			(38	)		—
Issuance of preferred stock		—			—			5,000
Distributions on noncontrolling interest and dividends on preferred stock		(3,037	)		(1,060	)		(993	)
Repayment of senior secured note		(12,573	)		—			—
Redemption of noncontrolling interests		(26,997	)		—			—
Purchase of Treasury Stock		(161	)		—			—
Net cash provided by financing activities		41,042			53,877			11,969
Net increase in cash and cash equivalents		29,544			20,458			2,522
Cash and cash equivalents at beginning of period		23,009			2,551			29
Cash and cash equivalents at end of period	$	52,553		$	23,009		$	2,551

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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