XML 114 R49.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Note 24 - Parent Company Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Balance Sheet [Table Text Block] |
(dollars in thousands) |  | December 31, 2014 |  |  | December 31, 2013 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 42,810 |  |  | $ | 17,140 |
Cash equivalents |  |  | 8,739 |  |  |  | 8,693 |
Investment securities available for sale, at fair value |  |  | 300 |  |  |  | 265 |
Investment in subsidiaries |  |  | 647,633 |  |  |  | 376,416 |
Other assets |  |  | 2,731 |  |  |  | 1,000 |
Total Assets |  | $ | 702,213 |  |  | $ | 403,514 |
Liabilities |  |  |  |  |  |  |  |
Other liabilities |  | $ | 2,154 |  |  | $ | 351 |
Long-term borrowings |  |  | 79,300 |  |  |  | 9,300 |
Total liabilities |  |  | 81,454 |  |  |  | 9,651 |
Shareholders' Equity |  |  |  |  |  |  |  |
Preferred stock, Series B |  |  | 71,900 |  |  |  | 56,600 |
Common stock |  |  | 296 |  |  |  | 253 |
Warrant |  |  | 946 |  |  |  | 946 |
Additional paid in capital |  |  | 394,933 |  |  |  | 242,990 |
Retained earnings |  |  | 150,037 |  |  |  | 96,393 |
Accumulated other comprehensive income (loss) |  |  | 2,647 |  |  |  | (3,319 | )
Total shareholders’ equity |  |  | 620,759 |  |  |  | 393,863 |
Total Liabilities and Shareholders' Equity |  | $ | 702,213 |  |  | $ | 403,514 |
Condensed Income Statement [Table Text Block] |
|  | Years Ended December 31, |
(dollars in thousands) |  | 2014 |  |  | 2013 |  |  | 2012 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Other interest and dividends |  | $ | 171 |  |  | $ | 117 |  |  | $ | 78 |
Gain on sale of investment securities |  |  | - |  |  |  | - |  |  |  | - |
Total Income |  |  | 171 |  |  |  | 117 |  |  |  | 78 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 2,497 |  |  |  | 897 |  |  |  | 946 |
Legal and professional |  |  | 108 |  |  |  | 142 |  |  |  | 192 |
Directors’ fees |  |  | 257 |  |  |  | 187 |  |  |  | 237 |
Other |  |  | 1,086 |  |  |  | 946 |  |  |  | 816 |
Total Expenses |  |  | 3,948 |  |  |  | 2,172 |  |  |  | 2,191 |
Loss Before Income Tax (Benefit) and Equity in Undistributed Income of Subsidiaries |  |  | (3,777 | ) |  |  | (2,055 | ) |  |  | (2,113 | )
Income Tax Benefit |  |  | (1,490 | ) |  |  | (810 | ) |  |  | (838 | )
Loss Before Equity in Undistributed Income of Subsidiaries |  |  | (2,287 | ) |  |  | (1,245 | ) |  |  | (1,275 | )
Equity in Undistributed Income of Subsidiaries |  |  | 56,545 |  |  |  | 48,252 |  |  |  | 36,564 |
Net Income |  |  | 54,258 |  |  |  | 47,007 |  |  |  | 35,289 |
Preferred Stock Dividends and Discount Accretion |  |  | 614 |  |  |  | 566 |  |  |  | 566 |
Net Income Available to Common Shareholders |  | $ | 53,644 |  |  | $ | 46,441 |  |  | $ | 34,723 |
Condensed Cash Flow Statement [Table Text Block] |
|  | Years Ended December 31, |
(dollars in thousands) |  | 2014 |  |  | 2013 |  |  | 2012 |
Cash Flows From Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  | $ | 54,258 |  |  | $ | 47,007 |  |  | $ | 35,289 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed income of subsidiary |  |  | (56,545 | ) |  |  | (48,252 | ) |  |  | (36,564 | )
Excess tax benefit on stock-based compensation |  |  | (978 | ) |  |  | (410 | ) |  |  | (369 | )
(Increase) decrease in other assets |  |  | (1,731 | ) |  |  | 353 |  |  |  | (34 | )
Increase (decrease) in other liabilities |  |  | 1,803 |  |  |  | 67 |  |  |  | (50 | )
Net cash (used in) operating activities |  |  | (3,193 | ) |  |  | (1,235 | ) |  |  | (1,728 | )
Cash Flows From Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiary (net) |  |  | (203,782 | ) |  |  | (810 | ) |  |  | (34,143 | )
Net cash used in investing activities |  |  | (203,782 | ) |  |  | (810 | ) |  |  | (34,143 | )
Cash Flows From Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | 144,093 |  |  |  |  |  |  |  |  |
Issuance of Series C Preferred Stock |  |  | 15,300 |  |  |  | - |  |  |  | - |
Issuance in long-term borrowings |  |  | 70,000 |  |  |  | - |  |  |  | - |
Cash paid in lieu of fractional shares |  |  | - |  |  |  | (11 | ) |  |  | - |
Issuance of common stock |  |  | - |  |  |  | - |  |  |  | 42,956 |
Proceeds from exercise of stock options |  |  | 2,313 |  |  |  | 1,984 |  |  |  | 1,685 |
Preferred stock dividends |  |  | (614 | ) |  |  | (566 | ) |  |  | (566 | )
Excess tax benefit on stock-based compensation |  |  | 978 |  |  |  | 410 |  |  |  | 369 |
Proceeds from employee stock purchase plan |  |  | 621 |  |  |  | 543 |  |  |  | 447 |
Net cash provided by financing activities |  |  | 232,691 |  |  |  | 2,360 |  |  |  | 44,891 |
Net Increase in Cash |  |  | 25,716 |  |  |  | 315 |  |  |  | 9,020 |
Cash and Cash Equivalents at Beginning of Year |  |  | 25,833 |  |  |  | 25,518 |  |  |  | 16,498 |
Cash and Cash Equivalents at End of Year |  | $ | 51,549 |  |  | $ | 25,833 |  |  | $ | 25,518 |

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration