Condensed Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information (Parent Company Only)

NOTE 24 - CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY)

Presented below is the condensed financial information as to financial position, results of operations, and cash flows of the Parent Company:

CONSOLIDATED BALANCE SHEET

	2015		2014
ASSETS
Cash and due from banks	$	43,912	$	6,649
Investment in Equity Bank		150,152		134,096
Other assets		1,678		774
Total assets	$	195,742	$	141,519
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities	$	28,509	$	23,790
Stockholders’ equity		167,233		117,729
Total liabilities and stockholders’ equity	$	195,742	$	141,519

CONDENSED STATEMENT OF INCOME

	2015			2014			2013
Dividend from Equity Bank	$	10,500		$	7,700		$	—
Other income		2			—			—
Total income		10,502			7,700			—
Expenses
Interest expense		1,284			929			642
Other expenses		1,336			744			310
Total expenses		2,620			1,673			952
Income (loss) before income tax and equity in undistributed income of subsidiaries		7,882			6,027			(952	)
Income tax benefit		858			529			324
Income (loss) before equity in undistributed income (loss) of subsidiaries		8,740			6,556			(628	)
Equity in undistributed income of Equity Bank		1,560			2,431			8,501
Net income		10,300			8,987			7,873
Dividends and discount accretion on preferred stock		(177	)		(708	)		(978	)
Net income allocable to common stockholders	$	10,123		$	8,279		$	6,895

CONDENSED STATEMENT OF CASH FLOWS

	2015			2014			2013
Cash flows from operating activities
Net income	$	10,300		$	8,987		$	7,873
Adjustments to reconcile net income to net cash from operating activities:
Stock based compensation		531			2,006			536
Equity in undistributed income of Equity Bank		(1,560	)		(2,431	)		(8,501	)
Net amortization of purchase valuation adjustments		301			301			300
Net change in:
Other assets		(344	)		(776	)		(736	)
Interest payable and other liabilities		397			(410	)		(918	)
Net cash from (to) operating activities		9,625			7,677			(1,446	)
Cash flows (to) from investing activities
Purchase stock of First Independence, net of holding company cash acquired		(14,585	)		—			—
Net cash (used in) investing activities		(14,585	)		—			—
Cash flows (to) from financing activities
Borrowings on bank stock loan		5,014			15,540			—
Principal payments on bank stock loan		(1,554	)		(388	)		—
Proceeds from the issuance of common stock, net		38,945			—			—
Issuance of employee stock loan		(1,215	)		—			—
Principal payments on employee stock loan		973			—			—
Redemption of Series A and Series B preferred stock		—			(15,540	)		—
Purchase of treasury stock		—			(17,221	)		(571	)
Dividends paid on preferred stock		(164	)		(804	)		(970	)
Excess tax benefits as a result of the distribution of common stock in termination of the restricted stock unit plan recognized as an increase in additional paid-in capital		224			—			—
Net cash provided by (used in) financing activities		42,223			(18,413	)		(1,541	)
Net change in cash and cash equivalents		37,263			(10,736	)		(2,987	)
Cash and cash equivalents, beginning of period		6,649			17,385			20,372
Ending cash and cash equivalents	$	43,912		$	6,649		$	17,385