XML 43 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net earnings $ 9,642,000 $ 4,473,000 $ 5,780,000
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 3,799,000 3,265,000 3,300,000
Amortization (accretion) of purchase accounting adjustments (2,067,000) (752,000) 98,000
Provision for loan losses 2,050,000 3,925,000 5,020,000
Deferred tax expense (benefit) 1,651,000 (491,000) (1,033,000)
Amortization of premiums on securities, net 1,878,000 910,000 1,226,000
Amortization of other investments 15,000 14,000 0
Net loss on sale of other real estate 163,000 66,000 150,000
Net write down of other real estate owned 582,000 476,000 241,000
Net loss/disposal on sale of premises and equipment 6,000 126,000 132,000
Stock compensation expense 150,000 13,000 6,000
Restricted stock expense 57,000 62,000 44,000
Gain on sale and liquidation of securities available-for-sale (204,000) (99,000) (3,000)
Change in accrued interest receivable 745,000 (331,000) 180,000
Change in accrued interest payable (181,000) (120,000) (149,000)
Write-down of goodwill 136,000 0 0
Change in other assets and liabilities, net (475,000) 1,667,000 2,271,000
Net cash provided by operating activities 17,947,000 13,204,000 17,263,000
Cash flows from investing activities, net of effect of purchase acquisitions in 2011 and 2012:      
Net change in time deposits in other banks 1,000 5,164,000 20,958,000
Proceeds from liquidation of equity security included in securities available-for-sale 0 0 75,000
Proceeds from maturities and calls of securities available-for-sale 146,019,000 81,030,000 33,242,000
Proceeds from maturities and calls of securities held-to-maturity 24,340,000 900,000 1,455,000
Proceeds from sale of securities available-for-sale 6,558,000 3,895,000 0
Purchases of securities available-for-sale (100,384,000) (149,332,000) (26,107,000)
Purchases of securities held-to-maturity (38,160,000) (101,493,000) 0
Proceeds from redemption of other investments 500,000 82,000 0
Purchases of other investments (189,000) (449,000) (173,000)
Net change in loans (41,335,000) (49,875,000) (1,050,000)
Purchases of premises and equipment (10,245,000) (3,656,000) (1,291,000)
Proceeds from sale of premises and equipment 0 9,000 3,000
Proceeds from sale of other real estate owned 555,000 541,000 766,000
Purchase of other real estate 0 0 (450,000)
Net cash (used in) provided by investing activities (5,296,000) (47,506,000) 27,428,000
Cash flows from financing activities, net of effect of purchase acquisitions in 2011 and 2012:      
Change in deposits (12,432,000) 15,041,000 27,487,000
Change in securities sold under agreements to repurchase (5,539,000) 2,252,000 (3,233,000)
Change in federal funds purchased 0 0 (1,700,000)
Issuance of Series B preferred stock 0 32,000,000 0
Redemption of Series A preferred stock 0 (20,000,000) 0
Issuance of common stock and treasury stock, net of offering expenses 0 0 4,768,000
Proceeds from exercise of stock options 100,000 67,000 51,000
Tax benefit due to exercise of stock options 1,000 1,000 0
Payment of dividends on preferred stock (1,579,000) (938,000) (1,001,000)
Payment of dividends on common stock (2,932,000) (2,725,000) (2,507,000)
Net cash (used in) provided by financing activities (22,381,000) 25,698,000 23,865,000
Net increase (decrease) in cash and cash equivalents (9,730,000) (8,604,000) 68,556,000
Cash and cash equivalents, beginning of year 83,303,000 91,907,000 23,351,000
Cash and cash equivalents, end of year 73,573,000 83,303,000 91,907,000
Supplemental cash flow information:      
Interest paid 5,978,000 5,608,000 7,544,000
Income taxes paid 2,785,000 835,000 1,051,000
Noncash investing and financing activities:      
Common stock issued in acquisition 11,530,000 8,838,000 0
Accretion of warrants 0 592,000 197,000
Change in accrued common stock dividends 1,000 51,000 218,000
Change in accrued preferred stock dividends (32,000) 272,000 0
Net change in loan to ESOP 0 104,000 113,000
Change in unrealized gains/losses on securities available-for-sale, net of tax 407,000 3,570,000 278,000
Transfer of loans to other real estate 879,000 7,319,000 1,222,000
Financed sales of other real estate 290,000 73,000 30,000
Jefferson Bank [Member]
     
Cash flows from investing activities, net of effect of purchase acquisitions in 2011 and 2012:      
Net cash associated with acquisition 0 93,800,000 0
First Louisiana National Bank [Member]
     
Cash flows from investing activities, net of effect of purchase acquisitions in 2011 and 2012:      
Net cash associated with acquisition 0 19,708,000 0
Beacon Federal [Member]
     
Cash flows from investing activities, net of effect of purchase acquisitions in 2011 and 2012:      
Net cash associated with acquisition 0 52,170,000 0
Peoples State Bank [Member]
     
Cash flows from investing activities, net of effect of purchase acquisitions in 2011 and 2012:      
Net cash associated with acquisition $ 7,044,000 $ 0 $ 0