PARENT COMPANY FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheets for the Parent Company

CONDENSED BALANCE SHEETS

December 31, 2013 and 2012

	2013		2012
Assets
Cash	$	2,612	$	1,541
Investment in bank subsidiary		199,084		187,565
Investment in unconsolidated trust		557		557
Other assets		717		617
	$	202,970	$	190,280
Liabilities and shareholders’ equity
Subordinated debentures and notes payable	$	20,446	$	18,557
Other liabilities		1,385		1,283
Total liabilities		21,831		19,840
Shareholders’ equity		181,139		170,440
	$	202,970	$	190,280

Condensed Statements Of Income For The Parent Company

CONDENSED STATEMENTS OF INCOME

Years ended December 31, 2013, 2012 and 2011

	2013		2012		2011
Dividends from subsidiary	$	3,200	$	5,500	$	19,500
Interest expense		(355)		(355)		(326)
Operating expenses		(631)		(381)		(405)
Tax benefit		328		224		185
Income before equity in undistributed income of the Bank		2,542		4,988		18,954
Equity in undistributed income (dividends in excess of earnings) of the Bank		17,223		13,157		(2,465)
Net income	$	19,765	$	18,145	$	16,489
Preferred stock dividend and discount accretion		-		-		(972)
Net income available to common shareholders	$	19,765	$	18,145	$	15,517

Condensed Cash Flow Statement For The Parent Company

CONDENSED STATEMENTS OF CASH FLOWS

Years ended December 31, 2013, 2012 and 2011

	2013		2012		2011
Cash flows from operating activities
Net income	$	19,765	$	18,145	$	16,489
Adjustments to reconcile net income to net cash from operating activities
(Equity in undistributed income)/dividends in excess of earnings		(17,223)		(13,157)		2,465
Other changes		337		113		120
Net cash from operating activities		2,879		5,101		19,074
Cash flows from investing activities
Net cash from investing activities		-		-		-
Cash flows from financing activities
Advances on notes payable		2,000		-		-
Redemption of warrant		(2,151)		-		-
Redemption of preferred stock		-		-		(17,000)
Payments on notes payable		(111)		-		-
Dividends paid on common stock		(5,098)		(4,624)		(4,162)
Dividends paid on preferred stock		-		-		(869)
Exercise of stock options		3,552		841		15
Net cash from financing activities		(1,808)		(5,051)		(22,016)
Net change in cash		1,071		1,320		(2,942)
Cash at beginning of year		1,541		221		3,163
Cash at end of year	$	2,612	$	1,541	$	221