Parent Company Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2017


	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


	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


	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