Note 21 - Condensed Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 21: CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

DECEMBER 31, 2014 and 2013

(In thousands)	2014			2013
ASSETS
Cash and cash equivalents	$	17,537		$	4,956
Investment securities		1,660			4,973
Investments in wholly-owned subsidiaries		522,841			452,688
Intangible assets, net		133			133
Premises and equipment		5,711			633
Other assets		14,301			12,726
TOTAL ASSETS	$	562,183		$	476,109
LIABILITIES
Long-term debt	$	63,720		$	66,620
Other liabilities		4,144			5,657
Total liabilities		67,864			72,277
STOCKHOLDERS’ EQUITY
Common stock		181			162
Surplus		156,568			88,095
Undivided profits		338,906			318,577
Accumulated other comprehensive loss
Unrealized depreciation on available-for-sale securities, net of income taxes of ($862) and ($1,938) at December 31, 2014 and 2013 respectively		(1,336	)		(3,002	)
Total stockholders’ equity		494,319			403,832
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	562,183		$	476,109

CONDENSED STATEMENTS OF INCOME

YEARS ENDED DECEMBER 31, 2014, 2013 and 2012

(In thousands)	2014			2013			2012
INCOME
Dividends from subsidiaries	$	43,366		$	23,051		$	45,061
Other income		6,927			8,409			7,155
		50,293			31,460			52,216
EXPENSE		23,024			17,839			15,830
Income before income taxes and equity in undistributed net income of subsidiaries		27,269			13,621			36,386
Provision for income taxes		(6,330	)		(3,510	)		(3,195	)
Income before equity in undistributed net income of subsidiaries		33,599			17,131			39,581
Equity in (distribution in excess of) undistributed net income of subsidiaries		2,089			6,100			(11,897	)
NET INCOME	$	35,688		$	23,231		$	27,684

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2014, 2013 and 2012

(In thousands)	2014		2013			2012
NET INCOME	$	35,688	$	23,231		$	27,684
OTHER COMPREHENSIVE INCOME
Equity in other comprehensive income (loss) of subsidiaries		1,666		(3,259	)		(182	)
COMPREHENSIVE INCOME	$	37,354	$	19,972		$	27,502

CONDENSED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2014, 2013 and 2012

(In thousands)	2014			2013			2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	35,688		$	23,231		$	27,684
Items not requiring (providing) cash
Depreciation and amortization		139			145			167
Deferred income taxes		1,338			81			75
Equity in (distribution in excess of) undistributed net income of bank subsidiaries		(2,089	)		(6,100	)		11,897
Changes in
Other assets		(1,514	)		19,978			(20,712	)
Other liabilities		(1,103	)		1,891			-
Net cash provided by operating activities		32,459			39,226			19,111
CASH FLOWS FROM INVESTING ACTIVITIES
Net purchases of premises and equipment		(5,435	)		(174	)		(84	)
Additional (return from) investment in subsidiary		288			(27,400	)		310
Sales (purchases) of available-for-sale securities		1,504			(1	)		-
Cash paid in business combinations		(1,640	)		(53,600	)		-
Net cash (used in) provided by investing activities		(5,283	)		(81,175	)		226
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of subordinated debentures		-			-			(10,310	)
(Repayment) issuance of long-term debt		(2,900	)		46,000			-
Issuance of common stock, net		3,389			2,353			1,711
Payment to repurchase common stock		-			(10,848	)		(17,567	)
Dividends paid		(15,084	)		(13,707	)		(13,495	)
Net cash provided by (used in) financing activities		(14,595	)		23,798			(39,661	)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		12,581			(18,151	)		(20,324	)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR		4,956			23,107			43,431
CASH AND CASH EQUIVALENTS, END OF YEAR	$	17,537		$	4,956		$	23,107