CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

12 Months Ended

Dec. 31, 2011

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY [Abstract]

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

22.  CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

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

Balance Sheets
December 31, 2011 and 2010
(in thousands)
	2011		2010
Assets
Cash and interest-bearing deposits in banks	$	27,894	$	32,010
Other assets		174		578
Investment in and advances to subsidiaries		151,166		120,726
Total assets	$	179,234	$	153,314
Liabilities and Shareholders' Equity
Liabilities:
Dividends payable	$	1,144	$	821
Junior subordinated debentures		15,465		15,465
ESOP obligation		-		104
Other		788		271
Total liabilities		17,397		16,661
Shareholders' equity		161,837		136,653
Total liabilities and shareholders' equity	$	179,234	$	153,314

Statements of Earnings
For the Years Ended December 31, 2011, 2010, and 2009
(in thousands)
	2011			2010			2009
Revenue:
Dividends from Bank and nonbank subsidiary	$	-		$	-		$	1,750
Rental and other income		908			1,032			196
		908			1,032			1,946
Expenses:
Interest on short- and long-term debt		971			974			1,019
Professional fees		337			185			153
Other expenses		643			667			623
		1,951			1,826			1,795
Earnings before equity in undistributed earnings of subsidiaries and income taxes		(1,043	)		(794	)		151
Equity in undistributed earnings of subsidiaries		5,167			6,303			3,903
Income tax benefit		349			271			545
Net earnings	$	4,473		$	5,780		$	4,599

Statements of Cash Flows
For the Years Ended December 31, 2011, 2010, and 2009
(in thousands)
	2011			2010			2009
Cash flows from operating activities:
Net earnings	$	4,473		$	5,780		$	4,599
Adjustments to reconcile net earnings to net cash provided by operating activities:
Undistributed earnings of subsidiaries		(5,167	)		(6,303	)		(3,903	)
Other, net		144			32			(384	)
Net cash (used in) provided by operating activities		(550	)		(491	)		312
Cash flows from investing activities:
Sale of equity securities		-			75			-
Investments in and advances to subsidiaries		(11,972	)		-			(20,000	)
Net cash (used in) provided by investing activities		(11,972	)		75			(20,000	)
Cash flows from financing activities:
Proceeds from issuance of common stock		-			4,768			32,448
Proceeds from issuance of Series A preferred stock and related common stock warrants		-			-			19,954
Proceeds from issuance of Series B preferred stock		32,000			-			-
Payment to redeem Series A preferred stock		(20,000	)		-			-
Proceeds from exercise of stock options		68			51			-
Payment of preferred dividends		(938	)		(1,001	)		(850	)
Payment of common dividends		(2,724	)		(2,507	)		(2,117	)
Net cash provided by financing activities		8,406			1,311			49,435
Net change in cash and cash equivalents		(4,116	)		895			29,747
Cash and cash equivalents at beginning of year		32,010			31,115			1,368
Cash and cash equivalents at end of year	$	27,894		$	32,010		$	31,115