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Parent Company Condensed Financial Information | 12 Months Ended
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Dec. 31, 2018
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:
|  | 2018 |  | 2017 |
Assets |  |  |  |  |  |  |
Noninterest bearing deposit with bank subsidiary |  | $ | 9,039 |  | $ | 23,011 |
Investment in subsidiaries |  |  | 315,252 |  |  | 263,389 |
Other assets |  |  | 12,997 |  |  | 17,139 |
Total assets |  | $ | 337,288 |  | $ | 303,539 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |
Other short term borrowings |  | $ | 4,000 |  | $ | - |
Junior subordinated debentures |  |  | 57,686 |  |  | 57,639 |
Senior notes |  |  | 44,158 |  |  | 44,058 |
Other liabilities |  |  | 2,363 |  |  | 1,492 |
Stockholders’ equity |  |  | 229,081 |  |  | 200,350 |
Total liabilities and stockholders' equity |  | $ | 337,288 |  | $ | 303,539 |
Condensed Statements of Income for the years ended December 31 were as follows:
|  | 2018 |  | 2017 |  | 2016
Operating Income |  |  |  |  |  |  |  |  |
Cash dividends received from subsidiaries |  | $ | 30,000 |  | $ | - |  | $ | -
Other income |  |  | 106 |  |  | 114 |  |  | 130
Total operating income |  |  | 30,106 |  |  | 114 |  |  | 130
Operating Expenses |  |  |  |  |  |  |  |  |
Junior subordinated debentures |  |  | 3,716 |  |  | 4,002 |  |  | 4,334
Senior notes |  |  | 2,688 |  |  | 2,689 |  |  | 112
Subordinated debt |  |  | - |  |  | - |  |  | 949
Other interest expense |  |  | 98 |  |  | - |  |  | 8
Other expenses |  |  | 4,208 |  |  | 2,639 |  |  | 1,975
Total operating expense |  |  | 10,710 |  |  | 9,330 |  |  | 7,378
Income (loss) before income taxes and equity in undistributed net income of subsidiaries |  |  | 19,396 |  |  | (9,216) |  |  | (7,248)
Income tax benefit |  |  | (3,355) |  |  | (16) |  |  | (2,909)
Income (loss) before equity in undistributed net income of subsidiaries |  |  | 22,751 |  |  | (9,200) |  |  | (4,339)
Equity in undistributed net income of subsidiaries |  |  | 11,261 |  |  | 24,338 |  |  | 20,023
Net income available to common stockholders |  | $ | 34,012 |  | $ | 15,138 |  | $ | 15,684
Condensed Statements of Cash Flows for the years ended December 31 were as follows:
|  | 2018 |  | 2017 |  | 2016
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net Income |  | $ | 34,012 |  | $ | 15,138 |  | $ | 15,684
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (11,261) |  |  | (24,338) |  |  | (20,023)
Provision for deferred tax expense (benefit) |  |  | 6,697 |  |  | 6,397 |  |  | (1,039)
Net deferred tax expense due to DTA revaluation |  |  | - |  |  | 3,908 |  |  | -
Change in taxes payable |  |  | (1,211) |  |  | (4,797) |  |  | 330
Change in other assets |  |  | 97 |  |  | 74 |  |  | 171
Stock-based compensation |  |  | 2,257 |  |  | 1,181 |  |  | 657
Other, net |  |  | 172 |  |  | (15) |  |  | 282
Net cash (used in) provided by operating activities |  |  | 30,763 |  |  | (2,452) |  |  | (3,938)
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |
Cash paid for acquisition, net of cash and cash equivalents retained |  |  | (47,074) |  |  | - |  |  | -
Net cash (used in) investing activities |  |  | (47,074) |  |  | - |  |  | -
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |
Net change in other short-term borrowings |  |  | 4,000 |  |  |  |  |  |
Dividend paid on common stock |  |  | (1,189) |  |  | (1,184) |  |  | (888)
Purchases of treasury stock |  |  | (505) |  |  | (236) |  |  | (254)
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) |  |  | 33 |  |  | - |  |  | 11
Net cash provided by (used in) financing activities |  |  | 2,339 |  |  | (1,462) |  |  | (2,637)
Net change in cash and cash equivalents |  |  | (13,972) |  |  | (3,914) |  |  | (6,575)
Cash and cash equivalents at beginning of year |  |  | 23,011 |  |  | 26,925 |  |  | 33,500
Cash and cash equivalents at end of year |  | $ | 9,039 |  | $ | 23,011 |  | $ | 26,925

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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