Summarized financial information for MidSouth Bancorp, Inc. (parent company only) follows:



Balance Sheets
December 31, 2018 and 2017
(in thousands)
	2018		2017
Assets
Cash and interest-bearing deposits in banks	$	44,827	$	50,174
Other assets	1,791		2,371
Investment in and advances to subsidiaries	198,608		225,634
Total assets	$	245,226	$	278,179

Liabilities and Stockholders’ Equity
Liabilities:
Dividends payable	$	977	$	975
Junior subordinated debentures	22,167		22,167
ESOP obligation	—		937
Other	92		85
Total liabilities	23,236		24,164
Stockholders’ equity	221,990		254,015
Total liabilities and stockholders’ equity	$	245,226	$	278,179



Statements of Operations
For the Years Ended December 31, 2018 and 2017
(in thousands)
	2018			2017
Revenue:
Dividends from Bank	$	262		$	4,000
Rental and other income	30			140
	292			4,140

Expenses:
Interest expense	1,025			830
Professional fees	476			235
Other expenses	873			854
	2,374			1,919
Income before equity in undistributed earnings/loss of subsidiaries and income taxes	(2,082		)	2,221

Equity in undistributed (loss) of subsidiaries	(24,823		)	(14,802		)

Income tax expense (benefit)	611			(820		)

Net loss	$	(27,516	)	$	(11,761	)



Statements of Cash Flows
For the Years Ended December 31, 2018 and 2017
(in thousands)
	2018			2017
Cash flows from operating activities:
Net loss	$	(27,516	)	$	(11,761	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Undistributed loss of subsidiaries	24,823			14,802
Other, net	604			(246		)
Net cash (used in) provided by operating activities	(2,089		)	2,795

Cash flows from investing activities:
Payments for investments in and advances to subsidiaries	—			(20,000		)
Repayment of investments in and advance to subsidiaries	—			203
Net cash used in investing activities	—			(19,797		)
Cash flows from financing activities:
Proceeds from exercise of stock options	643			266
Proceeds from issuance of common stock	—			57,834
Payment of preferred dividends	(3,239		)	(3,242		)
Stock offering expenses	—			(683		)
Payment of common dividends	(662		)	(3,704		)
Net cash (used in) provided by financing activities	(3,258		)	50,471
Net change in cash and cash equivalents	(5,347		)	33,469
Cash and cash equivalents at beginning of year	50,174			16,705
Cash and cash equivalents at end of year	$	44,827		$	50,174