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



Balance Sheets
December 31, 2017 and 2016
(in thousands)
	2017		2016
Assets
Cash and interest-bearing deposits in banks	$	50,174	$	16,705
Other assets	2,371		2,058
Investment in and advances to subsidiaries	225,634		220,906
Total assets	$	278,179	$	239,669

Liabilities and Stockholders’ Equity
Liabilities:
Dividends payable	$	975	$	1,835
Junior subordinated debentures	22,167		22,167
ESOP obligation	937		1,233
Other	85		58
Total liabilities	24,164		25,293
Stockholders’ equity	254,015		214,376
Total liabilities and stockholders’ equity	$	278,179	$	239,669



Statements of Operations
For the Years Ended December 31, 2017, 2016, and 2015
(in thousands)
	2017			2016		2015
Revenue:
Dividends from Bank	$	4,000		$	9,000	$	9,000
Gain on sale of securities	—			—		1,125
Rental and other income	140			57		57
	4,140			9,057		10,182

Expenses:
Interest on short- and long-term debt	830			704		613
Professional fees	235			236		253
Other expenses	854			785		733
	1,919			1,725		1,599
Income before equity in undistributed earnings/loss of subsidiaries and income taxes	2,221			7,332		8,583

Equity in undistributed (loss) earnings of subsidiaries	(14,802		)	1,529		2,317

Income tax benefit	820			578		117

Net (loss) earnings	$	(11,761	)	$	9,439	$	11,017



Statements of Cash Flows
For the Years Ended December 31, 2017, 2016, and 2015
(in thousands)
	2017			2016			2015
Cash flows from operating activities:
Net (loss) earnings	$	(11,761	)	$	9,439		$	11,017
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Undistributed (loss) earnings of subsidiaries	14,802			(1,529		)	(2,317		)
Gain on sale of securities available-for-sale	—			—			(1,125		)
Other, net	(246		)	73			528
Net cash provided by operating activities	2,795			7,983			8,103

Cash flows from investing activities:
Proceeds from sale of securities available-for-sale	—			—			1,392
Payments for investments in and advances to subsidiaries	(20,000		)	—			—
Repayment of investments in and advance to subsidiaries	203			—			—
Other, net	—			—			(83		)
Net cash (used in) provided by investing activities	(19,797		)	—			1,309
Cash flows from financing activities:
Proceeds from exercise of stock options	266			—			99
Proceeds from issuance of common stock	57,834			—			—
Payment of preferred dividends	(3,242		)	(2,221		)	(689		)
Stock offering expenses	(683		)	—			—
Payment of common dividends	(3,704		)	(4,095		)	(4,086		)
Other, net	—			243			607
Net cash provided by (used in) financing activities	50,471			(6,073		)	(4,069		)
Net change in cash and cash equivalents	33,469			1,910			5,343
Cash and cash equivalents at beginning of year	16,705			14,795			9,452
Cash and cash equivalents at end of year	$	50,174		$	16,705		$	14,795