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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net earnings $ 9,179 $ 15,446
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 4,652 4,518
Accretion of purchase accounting adjustments (1,003) (1,924)
Provision for loan losses 10,900 2,925
Deferred tax (benefit) expense (1,633) 2,034
Amortization of premiums on securities, net 2,141 2,432
(Accretion) amortization of other investments (1) 4
Stock option expense 253 355
Restricted stock expense 6 0
Net gain on sale of investment securities (1,243) (128)
Net gain on sale of other real estate owned (13) (1,081)
Net write down of other real estate owned 111 31
Net (gain) loss on sale/disposal of premises and equipment (8) 232
Income recognized from death benefit on bank owned life insurance (160) 0
Change in accrued interest receivable (20) 45
Change in accrued interest payable (48) (240)
Change in other assets & other liabilities, net 481 (2,006)
Net cash provided by operating activities 23,594 22,643
Cash flows from investing activities:    
Proceeds from maturities and calls of securities available-for-sale 55,874 33,466
Proceeds from maturities and calls of securities held-to-maturity 19,299 10,778
Proceeds from sale of securities available-for-sale 40,277 22,153
Purchases of securities available-for-sale (105,486) 0
Purchases of securities held-to-maturity 0 (1,104)
Proceeds from redemptions of other investments 0 150
Redemption of Capital Securities related to MidSouth Statutory Trust I 0 217
Proceeds from sale of other investments 898 0
Purchases of other investments (2,970) (567)
Net change in loans (20,669) (111,329)
Proceeds from bank owned life insurance death benefit 498 0
Purchases of premises and equipment (3,439) (4,265)
Proceeds from sale of premises and equipment 35 743
Proceeds from sale of other real estate owned 857 3,315
Purchase of other real estate owned (351) 0
Net cash used in investing activities (15,177) (46,443)
Cash flows from financing activities:    
Change in deposits (41,728) 2,244
Change in securities sold under agreements to repurchase 29,987 17,048
Borrowings on Federal Home Loan Bank advances 150,000 10,000
Repayments of Federal Home Loan Bank advances (105,047) (45)
Redemption of MidSouth Statutory Trust I 0 (7,217)
Repayments of notes payable 0 (1,000)
Purchase of treasury stock 0 (9)
Proceeds and tax benefit from exercise of stock options 99 611
Tax benefit resulting from distribution from Directors Deferred Compensation Plan 420 0
Payment of dividends on preferred stock (519) (530)
Payment of dividends on common stock (3,064) (2,818)
Net cash provided by financing activities 30,148 18,284
Net increase (decrease) in cash and cash equivalents 38,565 (5,516)
Cash and cash equivalents, beginning of period 86,872 59,731
Cash and cash equivalents, end of period 125,437 54,215
Supplemental cash flow information:    
Interest paid 4,280 4,730
Income taxes paid 5,180 5,815
Noncash investing and financing activities:    
Transfer of loans to other real estate 1,031 317
Change in accrued common stock dividends 3 121
Change in accrued preferred stock dividends (2) (6)
Financed sales of other real estate 0 84
Net change in loan to ESOP $ (905) $ (267)