XML 28 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net earnings $ 9,439 $ 11,017 $ 19,110
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 5,920 6,168 6,062
Accretion of purchase accounting adjustments (750) (1,235) (2,540)
Provision for loan losses 10,600 13,900 5,625
Deferred tax benefit (1,582) (1,785) (1,489)
Amortization of premiums on securities, net 2,963 2,815 3,047
(Accretion) amortization of other investments 0 (1) 3
Net loss (gain) on sale of other real estate 57 1 (1,061)
Net write down of other real estate owned 130 111 91
Net (gain) loss on sale/disposal of premises and equipment (35) (24) 182
Income Recognized from death benefit on bank owned life insurance 0 160 0
Stock-based compensation expense 210 355 442
Excess of book value over market value of ESOP shares released (106) 0 0
Gain on sale and liquidation of securities available-for-sale (20) (1,243) (128)
Change in accrued interest receivable (982) 41 57
Change in accrued interest payable (9) (114) (234)
Change in other assets and liabilities, net 1,289 (54) 612
Net cash provided by operating activities 26,843 29,185 29,758
Cash flows from investing activities:      
Proceeds from maturities and calls of securities available-for-sale 68,696 70,934 48,464
Proceeds from maturities and calls of securities held-to-maturity 17,589 23,288 14,344
Proceeds from sale of securities available-for-sale 6,803 40,277 22,153
Purchases of securities available-for-sale (104,491) (156,449) (1,250)
Purchases of securities held-to-maturity 0 0 (1,104)
Proceeds from redemption of other investments 600 2,180 150
Purchases of other investments (767) (3,377) (580)
Redemption of Capital Securities related to MidSouth Statutory Trust I 0 0 217
Proceeds from bank owned life insurance death benefit 0 498 0
Net change in loans (25,698) 14,480 (147,642)
Purchases of premises and equipment (5,823) (5,374) (5,588)
Proceeds from sale of premises and equipment 89 83 1,729
Proceeds from sale of other real estate owned 3,170 1,514 3,794
Purchase of other real estate owned 0 (351) 0
Net cash used in investing activities (39,832) (12,297) (65,313)
Cash flows from financing activities:      
Change in deposits 28,615 (34,285) 66,679
Change in securities sold under agreements to repurchase 8,504 23,859 8,182
Borrowings on Federal Home Loan Bank advances 25,000 150,000 120,000
Repayments of Federal Home Loan Bank advances (50,068) (150,064) (120,061)
Repayments of notes payable 0 0 (1,000)
Redemption of MidSouth Statutory Trust I 0 0 (7,217)
Proceeds from exercise of stock options 0 99 643
Purchase of treasury stock 0 0 9
Payment of dividends on preferred stock (2,221) (689) (704)
Payment of dividends on common stock (4,095) (4,086) (3,838)
Net cash provided by (used in) financing activities 6,016 (14,559) 62,696
Net (decrease) increase in cash and cash equivalents (6,973) 2,329 27,141
Cash and cash equivalents, beginning of year 89,201 86,872 59,731
Cash and cash equivalents, end of year 82,228 89,201 86,872
Supplemental cash flow information:      
Interest paid 5,700 5,695 6,041
Income taxes paid 4,473 6,641 8,065
Noncash investing and financing activities:      
Change in accrued common stock dividends 0 (10) 121
Change in accrued preferred stock dividends 640 (3) (6)
Net change in loan to ESOP (140) (843) (250)
Change in unrealized gains/losses on securities available-for-sale, net of tax (2,162) (2,348) 2,963
Transfer of loans to other real estate 1,345 1,228 447
Financed portion of sales of other real estate 0 0 84
Directors Deferred Compensation Plan      
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Excess Tax Benefit from Share-based Compensation, Operating Activities (127) (420) 0
Cash flows from financing activities:      
Tax benefit 127 420 0
Employee Stock Ownership Plan      
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Excess Tax Benefit from Share-based Compensation, Operating Activities (154) (187) 0
Cash flows from financing activities:      
Tax benefit 154 187 0
Employee stock option      
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Stock-based compensation expense 162 336 442
Excess Tax Benefit from Share-based Compensation, Operating Activities 0 0 (21)
Cash flows from financing activities:      
Tax benefit $ 0 $ 0 $ 21