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Parent Company Condensed Financial Information | 12 Months Ended
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Dec. 31, 2015
Parent Company Condensed Financial Information |
Parent Company Condensed Financial Information | Note 21: Parent Company Condensed Financial Information Condensed Balance Sheets as of December 31 were as follows:
|  | 2015 |  | 2014 |
Assets |  |  |  |  |  |  |
Noninterest bearing deposit with bank subsidiary |  | $ | 33,500 |  | $ | 7,059 |
Investment in subsidiaries |  |  | 204,509 |  |  | 272,285 |
Other assets |  |  | 22,951 |  |  | 19,940 |
|  | $ | 260,960 |  | $ | 299,284 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |
Junior subordinated debentures |  | $ | 58,378 |  | $ | 58,378 |
Subordinated debt |  |  | 45,000 |  |  | 45,000 |
Other liabilities |  |  | 1,653 |  |  | 1,743 |
Stockholders’ equity |  |  | 155,929 |  |  | 194,163 |
|  | $ | 260,960 |  | $ | 299,284 |
Condensed Statements of Income for the years ended December 31 were as follows:
|  | 2015 |  | 2014 |  | 2013
Operating Income |  |  |  |  |  |  |  |  |
Cash dividends received from subsidiaries |  | $ | 82,777 |  | $ | - |  | $ | -
Other income |  |  | 131 |  |  | 231 |  |  | 772
|  |  | 82,908 |  |  | 231 |  |  | 772
Operating Expenses |  |  |  |  |  |  |  |  |
Junior subordinated debentures interest expense |  |  | 4,287 |  |  | 4,919 |  |  | 5,298
Subordinated debt interest expense |  |  | 814 |  |  | 792 |  |  | 811
Other interest expense |  |  | 7 |  |  | 16 |  |  | 16
Other expenses |  |  | 1,978 |  |  | 1,045 |  |  | 1,006
|  |  | 7,086 |  |  | 6,772 |  |  | 7,131
Loss before income taxes and equity in undistributed net income of subsidiaries |  |  | 75,822 |  |  | (6,541) |  |  | (6,359)
Income tax benefit |  |  | (2,771) |  |  | (2,305) |  |  | (17,133)
(Loss) income before equity in undistributed net income of subsidiaries |  |  | 78,593 |  |  | (4,236) |  |  | 10,774
Equity in (over distributed) undistributed net income of subsidiaries |  |  | (63,208) |  |  | 14,372 |  |  | 71,311
Net income |  |  | 15,385 |  |  | 10,136 |  |  | 82,085
Preferred stock dividends and accretion of discount |  |  | 1,873 |  |  | 5,062 |  |  | 5,258
Dividends waived upon preferred stock redemption |  |  | - |  |  | (5,433) |  |  | -
Gain on redemption of preferred stock |  |  | - |  |  | (1,348) |  |  | -
Net income available to common stockholders |  | $ | 13,512 |  | $ | 11,855 |  | $ | 76,827
Condensed Statements of Cash Flows for the years ended December 31 were as follows:
|  | 2015 |  | 2014 |  | 2013
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net Income |  | $ | 15,385 |  | $ | 10,136 |  | $ | 82,085
Adjustments to reconcile net income (loss) to net cash from operating activities: |  |  |  |  |  |  |  |  |
Equity in over distributed (undistributed) net income of subsidiaries |  |  | 63,208 |  |  | (14,372) |  |  | (71,311)
Deferred income taxes |  |  | (2,806) |  |  | (2,256) |  |  | (16,786)
Change in taxes payable |  |  | (199) |  |  | 22 |  |  | 14
Change in other assets |  |  | 83 |  |  | 740 |  |  | (264)
Gain on recapture of restricted stock |  |  | - |  |  | - |  |  | (612)
Stock-based compensation |  |  | 613 |  |  | 295 |  |  | 167
Other, net |  |  | 22 |  |  | (17,151) |  |  | 5,502
Net cash used in operating activities |  |  | 76,306 |  |  | (22,586) |  |  | (1,205)
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |
Net cash provided by investing activities |  |  | - |  |  | - |  |  | -
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |
Divided paid |  |  | (2,417) |  |  | (12,390) |  |  | -
Purchases of treasury stock |  |  | (117) |  |  | (46) |  |  | (278)
Proceeds from the issuance of common stock |  |  | - |  |  | 64,331 |  |  | -
Redemption of preferred stock |  |  | (47,331) |  |  | (24,321) |  |  | -
Net cash provided by (used in) financing activities |  |  | (49,865) |  |  | 27,574 |  |  | (278)
Net change in cash and cash equivalents |  |  | 26,441 |  |  | 4,988 |  |  | (1,483)
Cash and cash equivalents at beginning of year |  |  | 7,059 |  |  | 2,071 |  |  | 3,554
Cash and cash equivalents at end of year |  | $ | 33,500 |  | $ | 7,059 |  | $ | 2,071

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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