XML 56 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Parent Information (Tables)
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Balance Sheet
CONDENSED BALANCE SHEETS
 
 
 
 
 
 
December 31,
 
December 31,
 
 
2017
 
2016
ASSETS
 
 

 
 

Cash
 
$
3,936

 
$
2,068

Investment in subsidiaries
 
168,104

 
100,023

Other assets
 
42,766

 
4,392

 
 
 
 
 
Total assets
 
$
214,806

 
$
106,483

 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 

 
 

Other liabilities
 
$
(1,046
)
 
$
1,243

Other borrowings
 
10,000

 
—

 
 
 
 
 
Total liabilities
 
8,954

 
1,243

 
 
 
 
 
Stockholders’ equity
 
205,852

 
105,240

 
 
 
 
 
Total liabilities and stockholders’ equity
 
$
214,806

 
$
106,483
Condensed Income Statement
CONDENSED STATEMENTS OF INCOME
 
 
 
 
 
 
Years Ended December 31,
 
 
2017
 
2016
INCOME
 
 

 
 

Dividends
 
$
—

 
$
3,000

Interest income
 
—

 
—

 
 
—

 
3,000

 
 
 
 
 
EXPENSES
 
 

 
 

Interest expense
 
69

 
17

Other operating expenses
 
2,657

 
1,146

 
 
 
 
 
(Loss) income before equity in undistributed earnings of subsidiaries and income tax benefit
 
(2,726
)
 
1,837

 
 
 
 
 
Equity in undistributed earnings of subsidiaries
 
7,134

 
3,520

 
 
 
 
 
Income tax benefit
 
607

 
442

 
 
 
 
 
Net income
 
5,015

 
5,799

 
 
 
 
 
Preferred stock dividend requirements
 
195

 
1,022

 
 
 
 
 
Net income available to common stockholders
 
$
4,820

 
$
4,777
Condensed Cash Flow Statement
STATEMENTS OF CASH FLOWS
 
Years Ended December 31,
 
 
2017
 
2016
CASH FLOWS FROM OPERATING ACTIVITIES
 
 

 
 

Net income
 
$
5,015

 
$
5,799

Adjustments to reconcile net income to net cash (used in) provided by operating activities:
 
 

 
 

Equity in undistributed income of subsidiary
 
(7,134
)
 
(3,520
)
Other
 
(2,449
)
 
1,234

 
 
 
 
 
Net cash (used in) provided by operating activities
 
(4,568
)
 
3,513

 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES
 
 

 
 

Proceeds from issuance of note payable
 
10,000

 
—

Repayment of note payable
 
—

 
(2,000
)
Redemption of preferred stock
 
(12,000
)
 
—

Proceeds from issuance of common stock
 
37,853

 
804

Payment of dividends on preferred stock
 
(195
)
 
(752
)
 
 
 
 
 
Net cash provided by (used in) financing activities
 
35,658

 
(1,948
)
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES
 
 

 
 

Net cash for purchase of Capstone Bancshares, Inc.
 
(14,222
)
 
—

Capital injection in subsidiary
 
(15,000
)
 
 
 
 
 
 
 
Net cash used in investing activities
 
(29,222
)
 
—

 
 
 
 
 
NET INCREASE IN CASH AND CASH EQUIVALENTS
 
1,868

 
1,565

 
 
 
 
 
CASH AND CASH EQUIVALENTS, beginning of year
 
2,068

 
503

 
 
 
 
 
CASH AND CASH EQUIVALENTS, end of year
 
$
3,936

 
$
2,068