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Parent Company Condensed Financial Information | 12 Months Ended
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Dec. 31, 2017
Parent Company Condensed Financial Information |
Parent Company Condensed Financial Information | Note 22: Parent Company Condensed Financial Information Condensed Balance Sheets as of December 31 were as follows:
|  | 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 |
Condensed Statements of Income for the years ended December 31 were as follows:
|  | 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
Condensed Statements of Cash Flows for the years ended December 31 were as follows:
|  | 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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- 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 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: 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=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: 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 + Details
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