XML 32 R118.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 19 - Parent Company Only Financial Statements (Details) - Condensed Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows from Operating Activities:      
Net income $ 14,938,245 $ 12,617,767 $ 9,691,648
Distributions in excess of (less than) earnings of:      
Bargain purchase gain on Community National acquisition (1,841,385)    
Accretion of acquisition fair value adjustments (1,060,708)    
Stock-based compensation expense 792,279 849,760 696,407
Cash Flows from Investing Activities:      
Net increase in interest-bearing deposits at financial instituions (8,660,888) 4,391,112 12,995,009
Net cash paid for Community National acquisition (6,261,684) [1]    [1]    [1]
Net cash (used in) provided by' investing activities (164,557,224) (132,781,796) (137,311,801)
Cash Flows from Financing Activities:      
Net (decrease) increase in other borrowings (200,000) 8,099 (14,939,122)
Proceeds from other borrowings term note 10,000,000    
Advance (payment) on 364-day revolving note (5,600,000) 2,000,000 1,100,000
Repayment of Community National's other borrowings at acquisition 3,950,000    
Redemption of Preferred Stock, net     (1,100,000)
Repurchase of 521,888 shares of common stock warrants issued in conjunction with Series D      
Net cash used in financing activities 112,903,315 110,558,615 111,777,429
Net increase (decrease) in cash and due from banks (19,617,656) 8,431,736 11,105,904
Cash and due from banks:      
Cash and cash equivalents 41,950,790 61,568,446 53,136,710
Series F Noncumulative Perpetual Preferred Stock [Member] | Parent Company [Member]
     
Cash Flows from Financing Activities:      
Redemption of Preferred Stock, net   (10,223,000)  
Repurchase of 521,888 shares of common stock warrants issued in conjunction with Series D      
Proceeds from issuance of 40,090 shares of Series F Noncumulative Perpetual Preferred Stock, net     39,996,922
Series D Cumulative Perpetual Preferred Stock [Member] | Parent Company [Member]
     
Cash Flows from Financing Activities:      
Redemption of Preferred Stock, net     (38,237,000)
Repurchase of 521,888 shares of common stock warrants issued in conjunction with Series D      
Cumulative Perpetual Preferred Stock     (1,100,000)
Bank Subsidiaries [Member] | Parent Company [Member]
     
Distributions in excess of (less than) earnings of:      
Distributions in excess of earnings 5,500,930 (3,706,086) (4,449,843)
Nonbank Subsidiaries [Member] | Parent Company [Member]
     
Distributions in excess of (less than) earnings of:      
Distributions in excess of earnings (103) (132,911) 133,951
Parent Company [Member]
     
Cash Flows from Operating Activities:      
Net income 14,938,245 12,617,767 9,691,648
Distributions in excess of (less than) earnings of:      
Bargain purchase gain on Community National acquisition (1,841,385)    
Accretion of acquisition fair value adjustments 79,655    
Depreciation 75,182   54
Other-than-temporary impairment losses on securities   62,400 118,847
Stock-based compensation expense 792,279 849,760 646,419
Increase in other assets (725,105) (437,827) (65,205)
(Decrease) increase in other liabilities (2,978,106) 1,938,832 666,240
Net cash provided by operating activities 15,841,592 11,191,935 6,742,111
Cash Flows from Investing Activities:      
Net increase in interest-bearing deposits at financial instituions (2,288) (1,937) (1,227)
Purchase of securities available for sale (34,040) (53,501) (58,149)
Capital infusion, bank subsidiaries     (1,693,679)
Net cash paid for Community National acquisition (6,261,684)    
Increase in cash from dissolution of VPHC   99,645  
Net cash (used in) provided by' investing activities (6,298,012) 44,207 (1,753,055)
Cash Flows from Financing Activities:      
Net (decrease) increase in other borrowings (373,446)    
Proceeds from other borrowings term note 10,000,000    
Advance (payment) on 364-day revolving note (5,600,000) 2,000,000 1,100,000
Repayment of Community National's other borrowings at acquisition (3,950,000)    
Payment of cash dividends on common and preferred stock (4,062,726) (4,088,949) (3,712,493)
Repurchase of 521,888 shares of common stock warrants issued in conjunction with Series D      
Proceeds from issuance of common stock, net 582,742 994,174 477,339
Purchase of noncontrolling interests   (2,388,417)  
Net cash used in financing activities (3,403,430) (13,706,192) (1,475,232)
Net increase (decrease) in cash and due from banks 6,140,150 (2,470,050) 3,513,824
Cash and due from banks:      
Cash and cash equivalents 7,212,584 1,072,434 3,542,484
Parent Company [Member] | Beginning of Period [Member]
     
Cash and due from banks:      
Cash and cash equivalents $ 1,072,434 $ 3,542,484 $ 28,660
[1] Net cash received at closing totaled $3,025,073