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Parent Company Condensed Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2017
Parent Company Condensed Financial Information |
Schedule of condensed balance sheets |
|  | 2017 |  | 2016 |
Assets |  |  |  |  |  |  |
Noninterest bearing deposit with bank subsidiary |  | $ | 23,011 |  | $ | 26,925 |
Investment in subsidiaries |  |  | 263,389 |  |  | 228,646 |
Other assets |  |  | 17,139 |  |  | 23,304 |
Total assets |  | $ | 303,539 |  | $ | 278,875 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |
Junior subordinated debentures |  | $ | 57,639 |  | $ | 57,591 |
Senior notes |  |  | 44,058 |  |  | 43,998 |
Other liabilities |  |  | 1,492 |  |  | 2,076 |
Stockholders’ equity |  |  | 200,350 |  |  | 175,210 |
Total liabilities and stockholders' equity |  | $ | 303,539 |  | $ | 278,875 |
Schedule of condensed statements of operations |
|  | 2017 |  | 2016 |  | 2015
Operating Income |  |  |  |  |  |  |  |  |
Cash dividends received from subsidiaries |  | $ | - |  | $ | - |  | $ | 82,777
Other income |  |  | 114 |  |  | 130 |  |  | 131
Total operating income |  |  | 114 |  |  | 130 |  |  | 82,908
Operating Expenses |  |  |  |  |  |  |  |  |
Junior subordinated debentures |  |  | 4,002 |  |  | 4,334 |  |  | 4,287
Senior notes |  |  | 2,689 |  |  | 112 |  |  | -
Subordinated debt |  |  | - |  |  | 949 |  |  | 814
Other interest expense |  |  | - |  |  | 8 |  |  | 7
Other expenses |  |  | 2,639 |  |  | 1,975 |  |  | 1,978
Total operating expense |  |  | 9,330 |  |  | 7,378 |  |  | 7,086
Loss before income taxes and equity in undistributed net income of subsidiaries |  |  | (9,216) |  |  | (7,248) |  |  | 75,822
Income tax benefit |  |  | (16) |  |  | (2,909) |  |  | (2,771)
Loss before equity in undistributed net income of subsidiaries |  |  | (9,200) |  |  | (4,339) |  |  | 78,593
Equity in undistributed (over distributed) net income of subsidiaries |  |  | 24,338 |  |  | 20,023 |  |  | (63,208)
Net income |  |  | 15,138 |  |  | 15,684 |  |  | 15,385
Preferred stock dividends and accretion of discount |  |  | - |  |  | - |  |  | 1,873
Net income available to common stockholders |  | $ | 15,138 |  | $ | 15,684 |  | $ | 13,512
Schedule of condensed statements of cash Flows |
|  | 2017 |  | 2016 |  | 2015
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net Income |  | $ | 15,138 |  | $ | 15,684 |  | $ | 15,385
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |
Equity in (undistributed) over distributed net income of subsidiaries |  |  | (24,338) |  |  | (20,023) |  |  | 63,208
Provision for deferred tax expense (benefit) |  |  | 6,397 |  |  | (1,039) |  |  | (2,806)
Net deferred tax expense due to DTA revaluation |  |  | 3,908 |  |  | - |  |  | -
Change in taxes payable |  |  | (4,797) |  |  | 330 |  |  | (199)
Change in other assets |  |  | 74 |  |  | 171 |  |  | 36
Stock-based compensation |  |  | 1,181 |  |  | 657 |  |  | 613
Other, net |  |  | (15) |  |  | 282 |  |  | 69
Net cash (used in) provided by operating activities |  |  | (2,452) |  |  | (3,938) |  |  | 76,306
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |
Net cash provided by investing activities |  |  | - |  |  | - |  |  | -
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |
Dividend paid on preferred stock |  |  | - |  |  | - |  |  | (2,417)
Dividend paid on common stock |  |  | (1,184) |  |  | (888) |  |  | -
Purchases of treasury stock |  |  | (236) |  |  | (254) |  |  | (117)
Proceeds from the issuance of common stock |  |  | - |  |  | - |  |  | -
Proceeds from the issuance of senior notes |  |  | - |  |  | 43,994 |  |  | -
Payment of senior note issuance costs |  |  | (42) |  |  | - |  |  | -
Repayment of subordinated debt |  |  | - |  |  | (45,000) |  |  | -
Repayment of note payable |  |  | - |  |  | (500) |  |  | -
Proceeds from exercise of stock option |  |  | - |  |  | 11 |  |  | -
Redemption of preferred stock |  |  | - |  |  | - |  |  | (47,331)
Net cash used in financing activities |  |  | (1,462) |  |  | (2,637) |  |  | (49,865)
Net change in cash and cash equivalents |  |  | (3,914) |  |  | (6,575) |  |  | 26,441
Cash and cash equivalents at beginning of year |  |  | 26,925 |  |  | 33,500 |  |  | 7,059
Cash and cash equivalents at end of year |  | $ | 23,011 |  | $ | 26,925 |  | $ | 33,500

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