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PARENT COMPANY FINANCIAL DATA (Table)
12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Parent Company Condensed Balance Sheet
 
December 31,
2015
 
December 31,
2014
Assets:
 

 
 

Cash and due from banks
$
5,066

 
$
2,825

Investment securities available for sale
379

 
1,069

Investment in subsidiaries
619,144

 
615,570

Deferred tax asset, net

 
650

Other assets
2,660

 
2,286

Total assets
$
627,249

 
$
622,400

 
 
 
 
Liabilities and Shareholders' Equity:
 

 
 

Long-term debt
$
63,106

 
$
62,481

Accrued interest payable and other liabilities
1,594

 
2,117

Total liabilities
64,700

 
64,598

Total shareholders' equity before non-controlling interests
562,549

 
557,802

Total liabilities and shareholders' equity
$
627,249

 
$
622,400

Parent Company Condensed Statement of Operations
 
Year ended December 31,
 
2015
 
2014
 
2013
Income:
 
 
 
 
 
Dividends from subsidiaries
$
40,108

 
$
8,058

 
$

Other income
105

 
54

 

Total income
40,213

 
8,112

 

Expense:
 
 
 
 
 
Interest expense
3,754

 
2,331

 

Other expenses
1,465

 
837

 
1,247

Total expenses
5,219

 
3,168

 
1,247

Income (loss) before income taxes and equity in undistributed earnings of subsidiaries
34,994

 
4,944

 
(1,247
)
Income tax benefit
1,744

 
5,647

 

Income (loss) before equity in undistributed earnings of subsidiaries
36,738

 
10,591

 
(1,247
)
Equity in undistributed earnings of subsidiaries
7,889

 
11,114

 
7,120

Net income
44,627

 
21,705

 
5,873

Dividends on preferred stock
822

 
1,269

 

Net income attributable to non-controlling interests

 
2,466

 
3,470

Net income available to common shareholders
$
43,805

 
$
17,970

 
$
2,403

Parent Company Condensed Statement of Cash Flows
 
Year ended December 31,
 
2015
 
2014
 
2013
Cash flows from operating activities:
 

 
 

 
 
Net income
$
44,627

 
$
21,705

 
$
5,873

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

 
 

 
 
Deferred income taxes
(1,744
)
 
(5,647
)
 

Equity in undistributed earnings of subsidiaries
(7,889
)
 
(11,114
)
 
(7,120
)
Net change in other assets
1,543

 
258

 
346

Net change in interest payable and other liabilities
(524
)
 
(281
)
 
(801
)
Other, net
791

 
419

 
280

Net cash provided by (used in) operating activities
36,804

 
5,340

 
(1,422
)
 
 
 
 
 
 
Cash flows from investing activities:
 

 
 

 
 
Proceeds from sales of investment securities available for sale
640

 
13

 

Purchases of cash flow hedges

 
(1,278
)
 

Investment in subsidiaries

 
(323
)
 

Proceeds from repayment of investment in subsidiaries

 
6,014

 
2,000

Net cash from business combinations

 
4,388

 

Net cash provided by investing activities
640

 
8,814

 
2,000

 


 
 
 
 
Cash flows from financing activities:
 

 
 

 
 
Proceeds from exercise of stock options
346

 
5

 

Repurchase of common stock

 
(886
)
 

Repurchase of preferred stock
(28,405
)
 

 

Distribution to legacy shareholders of Piedmont Community Bank Holdings, Inc.

 
(9,810
)
 

Dividends paid on preferred and common stock
(7,144
)
 
(1,269
)
 

Net cash used in financing activities
(35,203
)
 
(11,960
)
 

 
 
 
 
 
 
Net change in cash and cash equivalents
2,241

 
2,194

 
578

Cash and cash equivalents, beginning of period
2,825

 
631

 
53

Cash and cash equivalents, end of period
$
5,066

 
$
2,825

 
$
631