Note 19 - Parent Company Financial Statements

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

19. Parent Company Financial Statements

Condensed Balance Sheets

December 31, (In thousands)	2013			2012
Assets
Cash and cash equivalents	$	36,471		$	24,776
Investment in subsidiaries		185,668			196,406
Other assets		851			862
Total assets	$	222,990		$	222,044
Liabilities
Dividends payable	$	188		$	188
Subordinated notes payable to unconsolidated trusts		48,970			48,970
Other liabilities		3,777			4,865
Total liabilities		52,935			54,023
Shareholders’ Equity
Preferred stock		29,988			29,537
Common stock		935			934
Capital surplus		51,102			50,934
Retained earnings		91,242			79,747
Accumulated other comprehensive (loss) income		(3,212	)		6,869
Total shareholders’ equity		170,055			168,021
Total liabilities and shareholders’ equity	$	222,990		$	222,044

Condensed Statements of Income and Comprehensive Income

Years Ended December 31, (In thousands)	2013			2012			2011
Income
Dividends from subsidiaries	$	14,566		$	12,012		$	4,511
Interest		29			19			16
Other noninterest income		3,740			3,476			3,369
Total income		18,335			15,507			7,896
Expense
Interest expense - subordinated notes payable to unconsolidated trusts		864			1,879			2,026
Interest expense on other borrowed funds		-			-			2
Noninterest expense		3,980			3,875			3,484
Total expense		4,844			5,754			5,512
Income before income tax benefit and equity in undistributed income of subsidiaries		13,491			9,753			2,384
Income tax benefit		(428	)		(759	)		(854	)
Income before equity in undistributed income of subsidiaries		13,919			10,512			3,238
Equity in undistributed (loss) income of subsidiaries		(473	)		1,637			(500	)
Net income		13,446			12,149			2,738
Other comprehensive (loss) income		(10,081	)		226			5,745
Comprehensive income	$	3,365		$	12,375		$	8,483

Condensed Statements of Cash Flows

Years Ended December 31, (In thousands)	2013			2012			2011
Cash Flows From Operating Activities
Net income	$	13,446		$	12,149		$	2,738
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed loss (income) of subsidiaries		473			(1,637	)		500
Noncash employee stock purchase plan expense		4			3			3
Change in other assets and liabilities, net		(799	)		(590	)		1,253
Deferred income tax (benefit) expense		(62	)		(64	)		735
Net cash provided by operating activities		13,062			9,861			5,229
Cash Flows From Investing Activities
Return of equity from nonbank subsidiary		-			500			-
Investment in bank subsidiaries		-			(2,500	)		(4,000	)
Proceeds from liquidation of company-owned life insurance		-			-			2,248
Net cash used in investing activities		-			(2,000	)		(1,752	)
Cash Flows From Financing Activities
Dividends paid, preferred		(1,500	)		(1,500	)		(1,500	)
Repurchase of common stock warrant		-			(75	)		-
Shares issued under employee stock purchase plan		133			128			136
Net cash used in financing activities		(1,367	)		(1,447	)		(1,364	)
Net increase in cash and cash equivalents		11,695			6,414			2,113
Cash and cash equivalents at beginning of year		24,776			18,362			16,249
Cash and cash equivalents at end of year	$	36,471		$	24,776		$	18,362