ACQUISITION ACTIVITY (Tables)

12 Months Ended

Dec. 31, 2012

Business Acquisition [Line Items]

Information about the acquired impaired loans at acquisition

The following table presents information about the acquired impaired loans at acquisition (in thousands):

Contractually required principal and interest payments	$	7,449
Non-accretable discount		2,084
Cash flows expected to be collected		5,365
Accretable discount		623
Fair value of loans acquired with a deterioration of credit quality	$	4,742

Pro forma information presents the results of operations

The following unaudited pro forma information presents the results of operations for the years ended December 31, 2012 and 2011, as if the acquisition had occurred at January 1, 2011 (in thousands).  These adjustments include the impact of certain purchase accounting adjustments such as intangible assets amortization and the impact of the increase in the bond amortization as a result of the acquisition.  In addition, the $1.2 million in merger expenses related to the acquisition are included for the year ended December 31, 2012.

	December 31,
	2012		2011
Total revenues, net of interest expense	$	89,845	$	80,573
Net income		14,694		10,361
Earnings per share – basic		1.12		0.76
Earnings per share - diluted		1.09		0.75

Loans at the acquisition date

Loans at the acquisition date are presented in the following table (in thousands):

	Acquired Impaired Loans		Acquired Performing Loans		Total Acquired Loans
Commercial, financial and agricultural	$	82	$	59,011	$	59,093
Real estate – construction		-		16,431		16,431
Real estate – commercial		4,205		127,866		132,071
Real estate – residential		455		34,232		34,687
Installment loans to individuals		-		17,652		17,652
Other		-		119		119
Total	$	4,742	$	255,311	$	260,053

PSB Financial Corp [Member]

Business Acquisition [Line Items]

Schedule of business acquisition

Acquisition of PSB Financial Corporation

On December 28, 2012, the Company acquired all of the outstanding common stock of PSB Financial Corporation ("PSB"), the holding company of Many, Louisiana based The Peoples State Bank, for total consideration of $39.5 million, which resulted in preliminary goodwill of $18.0 million, as shown in the following table (dollars in thousands):

	Number of Shares		Amount
Equity consideration:
Common stock issued		756,511	$	11,530
Preferred stock issued		99,971		9,997
Non-equity consideration:
Cash				16,003
Contingent value right				2,000
Total consideration paid				39,530
Fair value of net assets acquired including identifiable intangible assets				(21,572	)
Goodwill			$	17,958

Assets purchased and liabilities assumed and adjustments to fair value for business acquisition

The following table provides the assets purchased and the liabilities assumed and the adjustments to fair value (in thousands):

	As Recorded		Fair Value			Fair
Assets	By PSB		Adjustments			Value
Cash	$	17,847	$	-		$	17,847
Federal funds sold		5,200		-			5,200
Time deposits held in banks		172		-			172
Investment securities		152,667		-			152,667
Loans receivable		269,053		(9,000	)		260,053
Fixed assets		11,845		578			12,423
Core deposit intangible		-		2,662			2,662
Cash surrender value of life insurance		8,234		-			8,234
Other real estate owned		838		-			838
Other assets		4,635		314			4,949
Total assets acquired	$	470,490	$	(5,446	)	$	465,045
Liabilities
Deposits	$	399,845	$	722		$	400,567
FHLB advances		25,296		1,832			27,128
Notes payable		2,000		-			2,000
Junior subordinated debentures		13,919		-			13,919
Other liabilities		2,606		(2,747	)		(141	)
Total liabilities assumed	$	443,666	$	(193	)		443,473
Fair value of net assets acquired including identifiable intangible assets						$	21,572

First Louisiana National Bank [Member]

Business Acquisition [Line Items]

Schedule of business acquisition

On December 1, 2011, the Bank purchased substantially all of the assets of First Louisiana National Bank ("FLNB"), a wholly owned subsidiary of First Bankshares of St. Martin, Ltd, for total consideration of $20.3 million, which resulted in preliminary goodwill of $4.1 million, as shown in the following table (in thousands):

	Number of Shares		Amount
Equity consideration:
Common stock issued		725,000	$	8,838
Non-equity consideration:
Cash				11,500
Total consideration paid				20,338
Fair value of net assets acquired including identifiable intangible assets				(16,230	)
Goodwill			$	4,108

Assets purchased and liabilities assumed and adjustments to fair value for business acquisition

The following table provides the assets purchased and the liabilities assumed and the adjustments to fair value for the FLNB acquisition (in thousands):

	As Recorded		Fair Value			Fair
Assets	By FLNB		Adjustments			Value
Cash	$	31,208	$	-		$	31,208
Time deposits held in banks		710		-			710
Investment securities		32,625		(1	)		32,624
Other investments		140		-			140
Loans receivable		48,645		(693	)		47,952
Fixed assets		2,234		1,445			3,679
Core deposit intangible		-		3,434			3,434
Other assets		641		-			641
Total assets acquired	$	116,203	$	4,185		$	120,388
Liabilities
Deposits	$	103,857	$	134		$	103,991
Other liabilities		167		-			167
Total liabilities assumed	$	104,024	$	134			104,158
Fair value of net assets acquired including identifiable intangible assets						$	16,230

Jefferson Bank [Member]

Business Acquisition [Line Items]

Assets purchased and liabilities assumed and adjustments to fair value for business acquisition

The following table provides the assets purchased and the liabilities assumed and the adjustments to fair value for the Jefferson Bank acquisition (in thousands):

	As Recorded		Fair Value			Fair
Assets	By Jefferson		Adjustments			Value
Cash	$	93,800	$	-		$	93,800
Investment securities		175		-			175
Loans receivable		59,818		(2,124	)		57,694
Fixed assets		2,240		1,392			3,632
Core deposit intangible		-		2,702			2,702
Other assets		327		-			327
Total assets acquired	$	156,360	$	1,970		$	158,330
Liabilities
Deposits	$	164,368	$	1,405		$	165,773
Other liabilities		283		-			283
Total liabilities assumed		164,651		1,405			166,056
Excess of liabilities assumed over assets acquired	$	8,291
Aggregate fair value adjustments			$	565
Goodwill						$	7,726

Beacon Federal [Member]

Business Acquisition [Line Items]

Assets purchased and liabilities assumed and adjustments to fair value for business acquisition

The following table provides the assets purchased and the liabilities assumed and the adjustments to fair value for the Beacon Federal acquisition (in thousands):

	As Recorded		Fair Value			Fair
Assets	By Beacon		Adjustments			Value
Cash	$	52,170	$	-		$	52,170
Loans receivable		23,760		(1,600	)		22,160
Fixed assets		288		153			441
Core deposit intangible		-		1,126			1,126
Other assets		51		-			51
Total assets acquired	$	76,269	$	(321	)	$	75,948
Liabilities
Deposits	$	76,466	$	3,331		$	79,797
Other liabilities		5		-			5
Total liabilities assumed		76,471		3,331			79,802
Excess of liabilities assumed over assets acquired	$	202
Aggregate fair value adjustments			$	(3,652	)
Goodwill						$	3,854