Midsouth Bancorp (MSL) 10-K 15 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 15, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	MIDSOUTH BANCORP INC
Entity Central Index Key	745,981
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 112,618,052
Entity Common Stock, Shares Outstanding		11,362,150
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and due from banks, including required reserves of $8,522 and $10,019, respectively	$ 37,170	$ 45,142
Interest-bearing deposits in banks	48,331	39,031
Federal funds sold	3,700	2,699
Securities available-for-sale, at fair value (cost of $317,375 and $272,588 at December 31, 2015 and 2014, respectively)	318,159	276,984
Securities held-to-maturity (estimated fair value of $117,698 and $141,593 at December 31, 2015 and 2014, respectively)	116,792	141,201
Other investments	11,188	9,990
Loans	1,263,645	1,284,431
Allowance for loan losses	(19,011)	(11,226)
Loans, net	1,244,634	1,273,205
Bank premises and equipment, net	69,105	69,958
Accrued interest receivable	6,594	6,635
Goodwill	42,171	42,171
Intangibles	5,728	6,834
Cash surrender value of life insurance	13,622	13,659
Other real estate	4,187	4,234
Other assets	6,352	4,997
Total assets	1,927,733	1,936,740
Deposits:
Noninterest-bearing	374,261	390,863
Interest-bearing	1,176,589	1,194,371
Total deposits	1,550,850	1,585,234
Securities sold under agreements to repurchase	85,957	62,098
Short-term Federal Home Loan Bank advances	25,000	25,000
Long-term Federal Home Loan Bank advances	25,851	26,277
Junior subordinated debentures	22,167	22,167
Other liabilities	4,771	6,952
Total liabilities	$ 1,714,596	$ 1,727,728
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.10 par value; 30,000,000 shares authorized, 11,362,150 shares issued and outstanding at December 31, 2015 and 11,491,703 and 11,340,736 shares issued and outstanding at December 31, 2014, respectively	$ 1,136	$ 1,149
Additional paid-in capital	110,771	112,744
Unearned ESOP shares	(1,093)	(250)
Accumulated other comprehensive income	509	2,857
Treasury stock- 150,967 shares at December 31, 2014	0	(3,295)
Retained earnings	60,694	54,439
Total stockholders’ equity	213,137	209,012
Total liabilities and stockholders’ equity	1,927,733	1,936,740
Series B Preferred stock
Stockholders’ equity:
Preferred stock	32,000	32,000
Series C Preferred stock
Stockholders’ equity:
Preferred stock	$ 9,120	$ 9,368

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and due from banks, reserves	$ 8,522	$ 10,019
Amortized Cost	317,375	272,588
Fair Value	$ 117,698	$ 141,593
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized (in shares)	30,000,000	30,000,000
Common stock, issued (in shares)	11,362,150	11,491,703
Common stock, outstanding (in shares)	11,362,150	11,340,736
Treasury stock (in shares)		150,967
Series B Preferred stock
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	32,000	32,000
Preferred stock, outstanding (in shares)	32,000	32,000
Series C Preferred stock
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized (in shares)	100,000	100,000
Preferred stock, issued (in shares)	91,200	93,680
Preferred stock, outstanding (in shares)	91,200	93,680

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income:
Loans, including fees	$ 71,633	$ 72,327	$ 71,016
Investment securities:
Taxable	7,559	8,100	8,609
Nontaxable	2,188	2,637	3,184
Other interest income	517	423	394
Total interest income	81,897	83,487	83,203
Interest expense:
Deposits	3,587	3,515	3,961
Short-term borrowings	1,017	840	816
Long-term borrowings	364	378	416
Junior subordinated debentures	613	1,074	1,346
Total interest expense	5,581	5,807	6,539
Net interest income	76,316	77,680	76,664
Provision for loan losses	13,900	5,625	3,050
Net interest income after provision for loan losses	62,416	72,055	73,614
Noninterest income:
Service charges on deposit accounts	8,636	9,780	9,225
ATM and debit card income	7,350	7,209	6,400
Gain on securities, net	1,243	128	234
Executive officer life insurance proceeds	0	3,000	0
Other charges and fees	3,092	2,843	2,963
Total noninterest income	20,321	22,960	18,822
Noninterest expenses:
Salaries and employee benefits	32,036	33,847	34,182
Occupancy expense	15,052	15,064	15,112
ATM and debit card expense	2,951	2,889	2,399
Other	17,098	16,747	20,416
Total noninterest expense	67,137	68,547	72,109
Income before income taxes	15,600	26,468	20,327
Income tax expense	4,583	7,358	6,151
Net earnings	11,017	19,110	14,176
Dividends on preferred stock	687	698	1,332
Net earnings available to common stockholders	$ 10,330	$ 18,412	$ 12,844
Earnings per common share:
Basic (in dollars per share)	$ 0.91	$ 1.63	$ 1.14
Diluted (in dollars per share)	$ 0.90	$ 1.58	$ 1.12

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net earnings	$ 11,017	$ 19,110	$ 14,176
Unrealized (losses) gains on securities available-for-sale:
Unrealized holding (losses) gains arising during the year	(2,369)	4,687	(12,481)
Less: reclassification adjustment for net gains on sales of securities available-for-sale	(1,243)	(128)	(234)
Total other comprehensive (loss) income, before tax	(3,612)	4,559	(12,715)
Income tax effect related to items of other comprehensive income	1,264	(1,596)	4,450
Total other comprehensive (loss) income, net of tax	(2,348)	2,963	(8,265)
Total comprehensive income	$ 8,669	$ 22,073	$ 5,911

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Surplus	Unearned ESOP Shares	Accumulated Other Comprehensive Income	Treasury Stock	Retained Earnings	Series B Preferred stock	Series B Preferred stockRetained Earnings	Series C Preferred stock	Series C Preferred stockRetained Earnings
Beginning balance at Dec. 31, 2012	$ 189,241	$ 41,997	$ 1,139	$ 110,603	$ 0	$ 8,159	$ (3,286)	$ 30,629
Beginning balance (in shares) at Dec. 31, 2012		131,971	11,386,611
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	14,176							14,176
Dividends on Series preferred stock									$ (931)	$ (931)	$ (400)	$ (400)
Dividends on common stock	(3,488)							(3,488)
Exercise of stock options	69		$ 1	68
Exercise of stock options (in shares)			6,155
Tax benefit resulting from exercise of stock options, net adjustment	4			4
Vested restricted stock	0		$ 1	(1)
Vested restricted stock (in shares)			14,430
Tax benefit resulting from issuance of restricted stock	14			14
Stock option expense	329			329
Change in accumulated other comprehensive income	(8,265)					(8,265)
Ending balance at Dec. 31, 2013	190,749	$ 41,997	$ 1,141	111,017	0	(106)	(3,286)	39,986
Ending balance (in shares) at Dec. 31, 2013		131,971	11,407,196
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	19,110							19,110
Dividends on Series preferred stock									(320)	(320)	(378)	(378)
Dividends on common stock	(3,959)							(3,959)
Conversion of Series C preferred stock to common stock	0	$ (629)	$ 3	626
Conversion of Series C preferred stock to common stock (in shares)		(6,291)	34,947
Treasury stock acquired at cost	(9)						(9)
Exercise of stock options	643		$ 5	638
Exercise of stock options (in shares)			49,560
Tax benefit resulting from exercise of stock options, net adjustment	21			21
Increase in ESOP obligation, net of repayments	(250)				(250)
Stock option expense	442			442
Change in accumulated other comprehensive income	2,963					2,963
Ending balance at Dec. 31, 2014	209,012	$ 41,368	$ 1,149	112,744	(250)	2,857	(3,295)	54,439
Ending balance (in shares) at Dec. 31, 2014		125,680	11,491,703
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	11,017							11,017
Dividends on Series preferred stock									$ (320)	$ (320)	$ (367)	$ (367)
Dividends on common stock	(4,075)							(4,075)
Conversion of Series C preferred stock to common stock	0	$ (248)	$ 1	247
Conversion of Series C preferred stock to common stock (in shares)		(2,480)	13,759
Reclassification of treasury stock per the LCBA	0		$ (15)	(3,280)			3,295
Reclassification of treasury stock per the LCBA (in shares)			(150,967)
Exercise of stock options	99		$ 1	98
Exercise of stock options (in shares)			7,655
Tax benefit resulting from issuance of restricted stock	420			420
Tax benefit for dividends paid to the ESOP	187			187
Increase in ESOP obligation, net of repayments	(843)				(843)
Stock option expense	355			355
Change in accumulated other comprehensive income	(2,348)					(2,348)
Ending balance at Dec. 31, 2015	$ 213,137	$ 41,120	$ 1,136	$ 110,771	$ (1,093)	$ 509	$ 0	$ 60,694
Ending balance (in shares) at Dec. 31, 2015		123,200	11,362,150

Consolidated Statements of Sto7

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in dollars per share)	$ 0.36	$ 0.35	$ 0.31

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net earnings	$ 11,017	$ 19,110	$ 14,176
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	6,168	6,062	5,568
Accretion of purchase accounting adjustments	(1,235)	(2,540)	(5,869)
Provision for loan losses	13,900	5,625	3,050
Deferred tax (benefit) expense	(1,785)	(1,489)	2,828
Amortization of premiums on securities, net	2,815	3,047	4,473
(Accretion) amortization of other investments	(1)	3	13
Net loss (gain) on sale of other real estate	1	(1,061)	190
Net write down of other real estate owned	111	91	457
Net (gain) loss on sale/disposal of premises and equipment	(24)	182	96
Income recognized from death benefit on bank owned life insurance	(160)	0	0
Stock compensation expense	336	442	308
Restricted stock expense	19	0	21
Gain on sale and liquidation of securities available-for-sale	(1,243)	(128)	(234)
Change in accrued interest receivable	41	57	(1)
Change in accrued interest payable	(114)	(234)	(201)
Change in other assets and liabilities, net	(661)	591	1,009
Net cash provided by operating activities	29,185	29,758	25,884
Cash flows from investing activities:
Net change in time deposits in other banks	0	0	881
Proceeds from maturities and calls of securities available-for-sale	70,934	48,464	72,728
Proceeds from maturities and calls of securities held-to-maturity	23,288	14,344	22,946
Proceeds from sale of securities available-for-sale	40,277	22,153	55,879
Purchases of securities available-for-sale	(156,449)	(1,250)	(68,043)
Purchases of securities held-to-maturity	0	(1,104)	(26,382)
Proceeds from redemption of other investments	2,180	150	1,600
Proceeds from redemption of other investments	(3,377)	(580)	(3,220)
Redemption of Capital Securities related to MidSouth Statutory Trust I	0	217	0
Proceeds from bank owned life insurance death benefit	498	0	0
Net change in loans	14,480	(147,642)	(82,340)
Purchases of premises and equipment	(5,374)	(5,588)	(14,264)
Proceeds from sale of premises and equipment	83	1,729	69
Proceeds from sale of other real estate owned	1,514	3,794	1,215
Purchase of other real estate owned	(351)	0	0
Net cash used in investing activities	(12,297)	(65,313)	(38,931)
Cash flows from financing activities:
Change in deposits	(34,285)	66,679	(32,455)
Change in securities sold under agreements to repurchase	23,859	8,182	12,469
Borrowings on Federal Home Loan Bank advances	150,000	120,000	25,000
Repayments of Federal Home Loan Bank advances	(150,064)	(120,061)	(57)
Repayments of notes payable	0	(1,000)	(1,000)
Redemption of MidSouth Statutory Trust I	0	(7,217)	0
Proceeds from exercise of stock options	99	643	69
Purchase of treasury stock	0	(9)	0
Payment of dividends on preferred stock	(689)	(704)	(1,519)
Payment of dividends on common stock	(4,086)	(3,838)	(3,320)
Net cash used in financing activities	(14,559)	62,696	(795)
Net increase (decrease) in cash and cash equivalents	2,329	27,141	(13,842)
Cash and cash equivalents, beginning of year	86,872	59,731	73,573
Cash and cash equivalents, end of year	89,201	86,872	59,731
Supplemental cash flow information:
Interest paid	5,695	6,041	6,534
Income taxes paid	6,641	8,065	3,500
Noncash investing and financing activities:
Change in accrued common stock dividends	(10)	121	167
Change in accrued preferred stock dividends	(3)	(6)	(188)
Net change in loan to ESOP	(843)	(250)	0
Change in unrealized gains/losses on securities available-for-sale, net of tax	(2,348)	2,963	(8,265)
Transfer of loans to other real estate	1,228	447	1,053
Financed portion of sales of other real estate	0	84	0
Directors Deferred Compensation Plan
Cash flows from financing activities:
Tax benefit	420	0	0
Employee Stock Ownership Plan
Cash flows from financing activities:
Tax benefit	187	0	0
Employee stock option
Cash flows from financing activities:
Tax benefit	0	21	4
Restricted stock
Cash flows from financing activities:
Tax benefit	$ 0	$ 0	$ 14

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation —The consolidated financial statements include the accounts of MidSouth Bancorp, Inc. (the “Company”) and its wholly owned subsidiaries MidSouth Bank, N.A. (the “Bank”), Financial Services of the South, Inc. (the “Finance Company”), which has liquidated its loan portfolio, and Peoples General Agency (“PGA”). All significant intercompany accounts and transactions have been eliminated in consolidation. We are subject to regulation under the Bank Holding Company Act of 1956. The Bank is primarily regulated by the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”). We are a financial holding company headquartered in Lafayette, Louisiana operating principally in the community banking business by providing banking services to commercial and retail customers through the Bank. The Bank is community oriented and focuses primarily on offering competitive commercial and consumer loan and deposit services to individuals and small to middle market businesses in Louisiana and central and east Texas. The accounting principles we follow and the methods of applying these principles conform with accounting principles generally accepted in the United States of America (“GAAP”) and with general practices within the banking industry. In preparing the financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts in the financial statements. Actual results could differ significantly from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of real estate acquired in connection with or in lieu of foreclosure on loans, the assessment of goodwill for impairment, and valuation allowances associated with the realization of deferred tax assets which are based on future taxable income. Given the current instability of the economic environment, it is reasonably possible that the methodology of the assessment of potential loan losses, losses on other real estate owned, goodwill impairment, and other fair value measurements could change in the near term or could result in impairment going forward. A summary of significant accounting policies follows: Cash and cash equivalents —Cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits in other banks with original maturities of less than 90 days, and federal funds sold. Investment Securities —We determine the appropriate classification of debt securities at the time of purchase and reassesses this classification periodically. Trading account securities are held for resale in anticipation of short-term market movements. Debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Securities not classified as held-to-maturity or trading are classified as available-for-sale. We had no trading account securities during the three years ended December 31, 2015 . Held-to-maturity securities are stated at amortized cost. Available-for-sale securities are stated at fair value, with unrealized gains and losses, net of deferred taxes, reported as a separate component of stockholders’ equity. The amortized cost of debt securities classified as held-to-maturity or available-for-sale is adjusted for amortization of premiums and accretion of discounts to maturity or, in the case of mortgage-backed securities, over the estimated life of the security. Amortization, accretion, and accrued interest are included in interest income on securities. Realized gains and losses on the sale of securities available-for-sale are included in earnings and are determined using the specific-identification method. Management evaluates investment securities for other than temporary impairment on a quarterly basis. A decline in the fair value of available-for-sale and held-to-maturity securities below cost that is deemed other than temporary is charged to earnings for a decline in value deemed to be credit related and a new cost basis for the security is established. The decline in value attributed to non-credit related factors is recognized in other comprehensive income. Other Investments —Other investments include Federal Reserve Bank and Federal Home Loan Bank stock, as well as other correspondent bank stocks and our CRA investment, which have no readily determined market value and are carried at cost. Due to the redemption provisions of the investments, the fair value equals cost and no impairment exists. Loans —Loans that we have the intent and ability to hold for the foreseeable future or until maturity are reported at the principal amount outstanding, net of the allowance for loan losses and any deferred fees or costs on originated loans. Interest income on commercial and real estate mortgage loans is calculated by using the simple interest method on the daily balance of the principal amount outstanding. Unearned income on installment loans is credited to operations based on a method which approximates the interest method. In-house legal counsel and the collections department are responsible for validating loans past due for reporting purposes. Once loans are determined to be past due, the collections department actively works with customers to bring loans back to current status. We consider a loan to be impaired when, based upon current information and events, we believe it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. All loans classified as special mention, substandard, or doubtful, based on credit risk rating factors, are reviewed for impairment. Our impaired loans include troubled debt restructurings and performing and nonperforming major loans in which full payment of principal or interest is not expected. Although our policy requires that non-major homogenous loans, which include all loans under $250,000 , be evaluated on an overall basis, our current volume of impaired loans allows us to evaluate each impaired loan individually. We calculate the allowance required for impaired loans based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. A loan may be impaired but not on nonaccrual status when available information suggests that it is probable the Bank may not receive all contractual principal and interest, however, the loan is still current and payments are received in accordance with the terms of the loan. Payments received for impaired loans not on nonaccrual status are applied to principal and interest. All impaired loans are reviewed, at minimum, on a quarterly basis. Reviews may be performed more frequently if material information is available before the next scheduled quarterly review. Existing valuations are reviewed to determine if additional discounts or new appraisals are required. After this review, when comparing the resulting collateral valuation to the outstanding loan balance, if the discounted collateral value exceeds the loan balance no specific allocation is reserved. All loans included in our impairment analysis are subject to the same procedure and review, with no distinction given to the dollar amount of the loan. Our Special Assets Committee meets monthly on troubled credits to review loans with adverse classifications. Loan officers, loan review officers, and in-house legal counsel contribute updated information on each credit, reviewing potential declines or improvements in the borrower’s repayment ability and our collateral position. If deterioration in our collateral position is determined, additional discounts may be applied to the impairment analysis before the new appraisal is received. The committee makes a determination of whether the loans reviewed have reached a point of collateral dependency and sufficient doubt exists as to collectability. As a matter of policy, loans are placed on nonaccrual status when, in the judgment of committee members, the probability of collection of interest is deemed insufficient to warrant further accrual. For loans placed on nonaccrual status, the accrual of interest is discontinued and subsequent payments received are applied to the principal balance. Interest income is recorded after principal has been satisfied and as payments are received. Additionally, loans may be placed on nonaccrual status when the loan becomes 90 days past due and any of the following conditions exist: it becomes evident that the borrower will not make payments or will not or cannot meet the Bank’s terms for the renewal of a matured loan, full repayment of principal and interest is not expected, the loan has a credit quality of substandard, the borrower files bankruptcy and an approved plan of reorganization or liquidation is not anticipated in the near future, or foreclosure action is initiated. When a loan is placed on nonaccrual status, previously accrued but unpaid interest for the current year is deducted from interest income. Prior year unpaid interest is charged to the allowance for loan losses. Some loans may continue accruing after 90 days if the loan is in the process of renewing, being paid off, or the underlying collateral fully supports both the principal and accrued interest and the loan is in the process of collection. Nonaccrual loans may be returned to accrual status if all principal and interest amounts contractually owed are reasonably assured of repayment within a reasonable period and there is a period of at least six months to one year of repayment performance by the borrower depending on the contractual payment terms. Our Special Assets Committee must approve the return of loans to accrual status as well as exceptions to any requirements of the non-accrual policy. Generally, commercial, financial, and agricultural loans; construction loans; commercial real estate loans; consumer loans; and finance leases which become 90 days delinquent are either in the process of collection through repossession or foreclosure or are deemed currently uncollectible. The portion of loans deemed currently uncollectible, due to insufficient collateral, are charged-off against the allowance for loan losses. All loans requested to be charged-off must be specifically authorized by in-house legal counsel and the CEO. Requests may be initiated by collection personnel, bank counsel, loan review, and lending personnel. Charge-offs will be reviewed by in-house legal counsel and the CEO to ensure the propriety and accuracy of charge-off recommendations. Factors considered when determining loan collectability and amount to be charged off for all segments in our loan portfolio include delinquent principal or interest repayment, the ability of borrower to make future payments, collateral value of outstanding debt, and the adequacy of guarantors support. It is the responsibility of in-house legal counsel to report all charge-offs to the Board of Directors or its designated Committee for ratification. Credit Risk Rating —We manage credit risk by observing written underwriting standards and lending policy established by the Board of Directors and management to govern all lending activities. The risk management program requires that each individual loan officer review his or her portfolio on a quarterly basis and assign recommended credit ratings on each loan. These efforts are supplemented by independent reviews performed by a loan review officer and other validations performed by the internal audit department. The results of the reviews are reported directly to the Audit Committee of the Board of Directors. Additionally, Bank concentrations are monitored and reported quarterly for risk rating distributions, major standard industry classification segments, real estate concentrations, and collateral distributions. Consumer and residential real estate loans are normally graded at inception, and the grade generally remains the same throughout the life of the loan. Loan grades on commercial, financial, and agricultural; construction; commercial real estate; and finance leases may be changed at any time when circumstances warrant, and are at a minimum reviewed quarterly. Loans can be classified into the following three risk rating groupings: pass, special mention, and substandard/doubtful. Factors considered in determining a risk rating grade include debt service capacity, capital structure/liquidity, management, collateral quality, industry risk, company trends/operating performance, repayment source, revenue diversification/customer concentration, quality of financial information, and financing alternatives. Pass grade signifies the highest quality of loans to loans with reasonable credit risk, which may include borrowers with marginally adequate financial performance, but have the ability to repay the debt. Special mention loans have potential weaknesses that warrant extra attention from the loan officer and other management personnel, but still have the ability to repay the debt. Substandard classification includes loans with well-defined weaknesses with risk of potential loss. Loans classified as doubtful are considered to have little recovery value and are charged off. Allowance for Loan Losses —The allowance for loan losses is a valuation account available to absorb probable losses on loans. All losses are charged to the allowance for loan losses when the loss actually occurs or when a determination is made that a loss is likely to occur. Recoveries are credited to the allowance for loan losses at the time of recovery. Quarterly, we estimate the probable level of losses in the existing portfolio through consideration of such factors including, but not limited to, past loan loss experience; estimated losses in significant credits; known deterioration in concentrations of credit; trends in nonperforming assets; volume and composition of the loan portfolio, including percentages of special mention, substandard and past due loans; lending policies and control systems; known inherent risks in the portfolio; adverse situations that may affect the borrower’s ability to repay; the estimated value of any underlying collateral; current national and local economic conditions, including the unemployment rate, the price of oil, and real estate absorption time; the experience, ability and depth of lending management; collections personnel experience; and the results of examinations of the loan portfolio by regulatory agencies and others. Based on these estimates, the allowance for loan losses is increased by charges to earnings and decreased by charge-offs (net of recoveries). The allowance is composed of general reserves and specific reserves. General reserves are determined by applying loss percentages to segments of the portfolio. The loss percentages are based on each segment’s historical loss experience, generally over the past twelve to eighteen months, and adjustment factors derived from conditions in the Bank’s internal and external environment. All loans considered to be impaired are evaluated on an individual basis to determine specific reserve allocations in accordance with GAAP. Loans for which specific reserves are provided are excluded from the calculation of general reserves. We have an internal loan review department that is independent of the lending function to challenge and corroborate the loan grade assigned by the lender and to provide additional analysis in determining the adequacy of the allowance for loan losses. Management and the Board of Directors believe the allowance for loan losses is appropriate at December 31, 2015 . While determination of the allowance for loan losses is based on available information at a given point in time, future additions to the allowance may be necessary based on changes in economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review our allowance for loan losses. Such agencies may require us to recognize additions or deductions to the allowance based on their judgment and information available to them at the time of their examination. Interest Rate Swap Agreements —Derivative financial instruments are recognized as assets and liabilities on the consolidated balance sheets and, as required by ASC 815, the Company records all derivatives at fair value. Interest rate swaps are contracts in which a series of interest rate cash flows are exchanged over a prescribed period. The notional balance of interest rate swap agreements held by the Company at December 31, 2015 and 2014 was minimal and not material to the consolidated balance sheets. Premises and Equipment —Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives used to compute depreciation are: Buildings and improvements 10 - 40 years Furniture, fixtures, and equipment 3 - 10 years Automobiles 3 - 5 years Leasehold improvements are amortized over the estimated useful lives of the improvements or the term of the lease, whichever is shorter. Other Real Estate Owned —Real estate properties acquired through, or in lieu of, loan foreclosures are initially recorded at fair value less estimated costs to sell based on a current valuation at the time of foreclosure. After foreclosure, valuations are periodically performed by management and a charge to earnings is recorded if the carrying value of a property exceeds its fair value less estimated costs to sell. Revenues and expenses from operations and changes in the valuation allowance are charged to earnings. Goodwill and Other Intangible Assets —Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill and other intangible assets deemed to have an indefinite useful life are not amortized but instead are subject to review for impairment annually, or more frequently if deemed necessary. Also, in connection with business combinations involving banks and branch locations, we generally record core deposit intangibles representing the value of the acquired core deposit base. Core deposit intangibles are amortized over the estimated useful life of the deposit base, generally on either a straight-line basis not exceeding 15 years or an accelerated basis over 10 years . The remaining useful lives of core deposit intangibles are evaluated periodically to determine whether events and circumstances warrant revision of the remaining period of amortization. Cash Surrender Value of Life Insurance —Life insurance contracts represent single premium life insurance contracts on the lives of certain officers of the Company. The Company is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in other noninterest income. Repurchase Agreements —Securities sold under agreements to repurchase are secured borrowings treated as financing activities and are carried at the amounts at which the securities will be subsequently reacquired as specified in the respective agreements. Deferred Compensation —We record the expense of deferred compensation agreements over the service periods of the persons covered under these agreements. Income Taxes —Deferred tax assets and liabilities are recorded for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Future tax benefits, such as net operating loss carry forwards, are recognized to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. In the event the future tax consequences of differences between the financial reporting bases and the tax bases of our assets and liabilities results in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such assets is required. A valuation allowance is provided when it is more likely than not that a portion or the full amount of the deferred tax asset will not be realized. In assessing the ability to realize the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. A deferred tax liability is not recognized for portions of the allowance for loan losses for income tax purposes in excess of the financial statement balance. Such a deferred tax liability will only be recognized when it becomes apparent that those temporary differences will reverse in the foreseeable future. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent more likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Stock-Based Compensation —We expense stock-based compensation based upon the grant date fair value of the related equity award over the requisite service period of the employee. Basic and Diluted Earnings Per Common Share —Basic earnings per common share (“EPS”) excludes dilution and is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is computed by dividing net earnings by the total of the weighted-average number of shares outstanding plus the dilutive effect of outstanding options. The amounts of common stock and additional paid-in capital are adjusted to give retroactive effect to large stock dividends. Small stock dividends, or dividends less than 25% of issued shares at the declaration date, are reflected as an increase in common stock and additional paid-in capital and a decrease in retained earnings for the market value of the shares on the date the dividend is declared. Comprehensive Income —Generally all recognized revenues, expenses, gains and losses are included in net earnings. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net earnings, are components of comprehensive income. We present comprehensive income in a separate consolidated statement of comprehensive income. Statements of Cash Flows —For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold, and interest-bearing deposits in other banks with original maturities of less than 90 days. Generally, federal funds are sold for one -day periods. Recent Accounting Pronouncements — ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items was issued as part of the FASB's simplification initiative. ASU 2015-01 eliminates the concept of extraordinary items. The effective date of this Update is for fiscal years beginning on or after December 15, 2015 and interim periods within those annual periods. Adoption of this Update is not expected to have a material effect on the Company’s consolidated financial statements or the interim notes to the consolidated financial statements. ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs was also issued as part of the FASB's simplification initiative. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Currently, debt issuance costs are presented as an asset on the balance sheet. The FASB notes within the ASU, capitalized debt issuance costs do not meet the definition of an asset and are more akin to a debt discount, thereby reducing the carrying amount of the proceeds received. The effective date of this Update is for fiscal years beginning on or after December 15, 2015 and interim periods within those annual periods. Adoption of this Update is not expected to have a material effect on the Company’s consolidated financial statements or the interim notes to the consolidated financial statements. ASU 2016-01, Financial Statements - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities is the first ASU issued under the FASB's financial instruments project. ASU 2016-01 primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. The guidance in this ASU requires all equity securities with readily determinable fair values to be measured at fair value on the balance sheet, with changes in fair value recorded through earnings. For financial liabilities that are measured at fair value in accordance with the fair value option, the guidance requires changes in the fair value of a financial liabilities attributable to a change in instrument-specific credit risk to be recorded separately in other comprehensive income. This ASU eliminates the requirement to disclose the methods and significant assumptions used to estimate fair value. It does require public entities to use the exit price when measuring the fair value of financial instruments measured at amortized cost for disclosure purposes In addition, the new guidance requires financial assets and financial liabilities to be presented separately in the notes to the financial statements, grouped by measurement category and form of financial asset. The effective date of this Update is for fiscal years beginning on or after December 15, 2017. The Company is evaluating the impact, if any, that ASU 2016-01 will have on its financial position, results of operations, and its financial statement disclosures. ASU 2016-02, Leases (Topic 842) was issued with the intention of improving financial reporting about leasing transactions. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP - which requires only capital leases to be recognized on the balance sheet - the guidance in the ASU will require both types of leases to be recognized on the balance sheet. The ASU also will require disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. The effective date of this Update is for fiscal years beginning on or after December 15, 2018. The Company is evaluating the impact that ASU 2016-02 will have on its financial position, results of operations, and its financial statement disclosures. Louisiana Business Corporation Act — Effective January 1, 2015, companies incorporated under Louisiana law became subject to the Louisiana Business Corporation Act. Provisions of the Louisiana Business Corporation Act eliminate the concept of treasury stock. Rather, shares purchased by the Company constitute authorized but unissued shares. Accounting principles generally accepted in the United States of America state that accounting for treasury stock shall conform to state law. The Company's consolidated financial statements as of December 31, 2015 reflect this change. The cost of shares purchased by the Company has been allocated to common stock and additional paid-in capital balances. Reclassifications —Certain reclassifications have been made to the prior years’ financial statements in order to conform to the classifications adopted for reporting in 2015 . The reclassifications had no impact on net income or stockholders’ equity.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES The portfolio of securities consisted of the following (in thousands): December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: Obligations of state and political subdivisions $ 30,750 $ 770 $ 27 $ 31,493 GSE mortgage-backed securities 84,946 2,321 229 87,038 Collateralized mortgage obligations: residential 194,067 297 2,276 192,088 Collateralized mortgage obligations: commercial 5,512 1 65 5,448 Mutual funds 2,100 — 8 2,092 $ 317,375 $ 3,389 $ 2,605 $ 318,159 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: U.S. Government sponsored enterprises $ 10,339 $ — $ 112 $ 10,227 Obligations of state and political subdivisions 43,079 1,555 29 44,605 GSE mortgage-backed securities 106,208 3,183 288 109,103 Collateralized mortgage obligations: residential 62,093 266 1,520 60,839 Collateralized mortgage obligations: commercial 24,462 190 107 24,545 Other asset-backed securities 24,041 321 19 24,343 Collateralized debt obligation 266 952 — 1,218 Mutual funds 2,100 4 — 2,104 $ 272,588 $ 6,471 $ 2,075 $ 276,984 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity: Obligations of state and political subdivisions $ 43,737 $ 697 $ 6 $ 44,428 GSE mortgage-backed securities 55,696 705 131 56,270 Collateralized mortgage obligations: residential 10,803 — 361 10,442 Collateralized mortgage obligations: commercial 6,556 2 — 6,558 $ 116,792 $ 1,404 $ 498 $ 117,698 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity: Obligations of state and political subdivisions $ 45,914 $ 267 $ 192 $ 45,989 GSE mortgage-backed securities 67,268 1,080 164 68,184 Collateralized mortgage obligations: residential 12,709 — 479 12,230 Collateralized mortgage obligations: commercial 15,310 53 173 15,190 $ 141,201 $ 1,400 $ 1,008 $ 141,593 With the exception of two private-label collateralized mortgage obligations ("CMOs") with a combined balance remaining of $27,000 at December 31, 2015 and three private-label CMOs with a combined balance remaining of $44,000 at December 31, 2014 , respectively, all of the Company’s CMOs are government-sponsored enterprise securities. The amortized cost and fair value of debt securities at December 31, 2015 by contractual maturity are shown below (in thousands). Except for mortgage backed securities, collateralized mortgage obligations, other asset backed securities, and collateralized debt obligations, expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value Available-for-sale: Due in one year or less $ 5,670 $ 5,702 Due after one year through five years 19,456 20,002 Due after five years through ten years 3,929 4,118 Due after ten years 1,695 1,671 Mortgage-backed securities and collateralized mortgage obligations: Residential 279,013 279,126 Commercial 5,512 5,448 Mutual funds 2,100 2,092 $ 317,375 $ 318,159 Amortized Cost Fair Value Held-to-maturity: Due in one year or less $ 472 $ 473 Due after one year through five years 3,406 3,431 Due after five years through ten years 10,575 10,756 Due after ten years 29,284 29,768 Mortgage-backed securities and collateralized mortgage obligations: Residential 66,499 66,712 Commercial 6,556 6,558 $ 116,792 $ 117,698 Details concerning investment securities with unrealized losses are as follows (in thousands): December 31, 2015 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Available-for-sale: Obligations of state and political subdivisions $ 1,192 $ 27 $ — $ — $ 1,192 $ 27 GSE mortgage-backed securities 21,607 229 — — 21,607 229 Collateralized mortgage obligations: residential 140,999 1,207 30,029 1,069 171,028 2,276 Collateralized mortgage obligations: commercial — — 2,946 65 2,946 65 Mutual funds 2,092 8 — — 2,092 8 $ 165,890 $ 1,471 $ 32,975 $ 1,134 $ 198,865 $ 2,605 December 31, 2014 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Available-for-sale: U.S. Government sponsored enterprises $ 4,973 $ 32 $ 5,254 $ 80 $ 10,227 $ 112 Obligations of state and political subdivisions 2,029 29 — — 2,029 29 GSE mortgage-backed securities 6,668 25 21,538 263 28,206 288 Collateralized mortgage obligations: residential 9,366 53 37,997 1,467 47,363 1,520 Collateralized mortgage obligations: commercial — — 3,747 107 3,747 107 Other asset-backed securities 6,401 19 — — 6,401 19 $ 29,437 $ 158 $ 68,536 $ 1,917 $ 97,973 $ 2,075 December 31, 2015 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Held-to-maturity: Obligations of state and political subdivisions $ 541 $ 1 $ 505 $ 5 $ 1,046 $ 6 GSE mortgage-backed securities — — 7,021 131 7,021 131 Collateralized mortgage obligations: residential — — 10,442 361 10,442 361 $ 541 $ 1 $ 17,968 $ 497 $ 18,509 $ 498 December 31, 2014 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Held-to-maturity: Obligations of state and political subdivisions $ 11,761 $ 35 $ 13,263 $ 157 $ 25,024 $ 192 GSE mortgage-backed securities — — 8,142 164 8,142 164 Collateralized mortgage obligations: residential — — 12,230 479 12,230 479 Collateralized mortgage obligations: commercial 7,599 173 — — 7,599 173 $ 19,360 $ 208 $ 33,635 $ 800 $ 52,995 $ 1,008 Management evaluates whether unrealized losses on securities represent impairment that is other than temporary on a quarterly basis. For debt securities, the Company considers its intent to sell the securities or if it is more likely than not the Company will be required to sell the securities. If such impairment is identified, based upon the intent to sell or the more likely than not threshold, the carrying amount of the security is reduced to fair value with a charge to earnings. Upon the result of the aforementioned review, management then reviews for potential other than temporary impairment based upon other qualitative factors. In making this evaluation, management considers changes in market rates relative to those available when the security was acquired, changes in market expectations about the timing of cash flows from securities that can be prepaid, performance of the debt security, and changes in the market’s perception of the issuer’s financial health and the security’s credit quality. If determined that a debt security has incurred other than temporary impairment, then the amount of the credit related impairment is determined. If a credit loss is evident, the amount of the credit loss is charged to earnings and the non-credit related impairment is recognized through other comprehensive income. As of December 31, 2015 , 48 securities had unrealized losses totaling 1.41% of the individual securities’ amortized cost basis and 0.71% of the Company’s total amortized cost basis. 16 of the 48 securities had been in an unrealized loss position for over twelve months at December 31, 2015 . These 16 securities had an amortized cost basis and unrealized loss of $52.6 million and $1.6 million , respectively. The unrealized losses on debt securities at December 31, 2015 and 2014 resulted from changing market interest rates over the yields available at the time the underlying securities were purchased. Management identified no impairment related to credit quality. At December 31, 2015 and 2014 , management had both the intent and ability to hold impaired securities, and no impairment was evaluated as other than temporary. As a result, no impairment losses were recognized on debt securities during the years ended December 31, 2015 , 2014 , or 2013 . During the year ended December 31, 2015 , the Company sold 22 securities classified as available-for-sale at a net gain of $1.2 million . Of the 22 securities sold, 12 were sold with gains totaling $1.4 million and 10 securities were sold at a loss of $135,000 . During the year ended December 31, 2014 , the Company sold four securities classified as available-for-sale at a gross gain of $128,000 . Securities with an aggregate carrying value of approximately $285.4 million and $279.8 million at December 31, 2015 and 2014 , respectively, were pledged to secure public funds on deposit and for other purposes required or permitted by law.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
LOANS	LOANS The loan portfolio consisted of the following (in thousands): December 31, 2015 2014 Commercial, financial and agricultural $ 454,028 $ 467,147 Real estate – construction 74,952 68,577 Real estate – commercial 471,141 467,172 Real estate – residential 149,064 154,602 Installment loans to individuals 111,009 119,328 Lease financing receivable 1,968 4,857 Other 1,483 2,748 1,263,645 1,284,431 Less allowance for loan losses (19,011 ) (11,226 ) $ 1,244,634 $ 1,273,205 The amounts reported in other loans at December 31, 2015 and 2014 includes the overdrawn demand deposit accounts and loans primarily made to non-profit entities reported for each period. An analysis of the activity in the allowance for loan losses is as follows (in thousands): December 31, 2015 2014 2013 Balance, beginning of year $ 11,226 $ 8,779 $ 7,370 Provision for loan losses 13,900 5,625 3,050 Recoveries 459 738 265 Loans charged-off (6,574 ) (3,916 ) (1,906 ) Balance, end of year $ 19,011 $ 11,226 $ 8,779 The Company monitors loan concentrations and evaluates individual customer and aggregate industry leverage, profitability, risk rating distributions, and liquidity for each major standard industry classification segment. At December 31, 2015 , one industry segment concentration, the oil and gas industry, aggregates more than 10% of the loan portfolio. The Company’s exposure in the oil and gas industry, including related service and manufacturing industries, totaled approximately $264.7 million , or 20.9% of total loans. Of the $264.7 million loans to borrowers in the oil and gas industry, $27.4 million or 10.4% were on nonaccrual status at December 31, 2015. Additionally, the Company’s exposure to loans secured by commercial real estate is monitored. At December 31, 2015 , loans secured by commercial real estate (including commercial construction and multifamily loans) totaled approximately $528.0 million . Of the $528.0 million , $471.1 million represent CRE loans, 54% of which are secured by owner-occupied commercial properties. Of the $528.0 million in loans secured by commercial real estate, $19.9 million or 3.8% were on nonaccrual status at December 31, 2015 . A rollforward of the activity within the allowance for loan losses by loan type and recorded investment in loans for the years ended December 31, 2015 and 2014 is as follows (in thousands): December 31, 2015 Real Estate Coml, fin, and agric Construction Commercial Residential Installment loans to individuals Lease financing receivable Other Total Allowance for loan losses: Beginning balance $ 5,729 $ 954 $ 2,402 $ 810 $ 1,311 $ 16 $ 4 $ 11,226 Charge-offs (4,936 ) (105 ) (183 ) (87 ) (1,263 ) — — (6,574 ) Recoveries 235 3 26 12 183 — — 459 Provision 10,240 (33 ) 2,369 81 1,237 (2 ) 8 13,900 Ending balance $ 11,268 $ 819 $ 4,614 $ 816 $ 1,468 $ 14 $ 12 $ 19,011 Ending balance: individually evaluated for impairment $ 961 $ — $ 1,585 $ 160 $ 221 $ — $ — $ 2,927 Ending balance: collectively evaluated for impairment $ 10,307 $ 819 $ 3,029 $ 656 $ 1,247 $ 14 $ 12 $ 16,084 Loans: Ending balance $ 454,028 $ 74,952 $ 471,141 $ 149,064 $ 111,009 $ 1,968 $ 1,483 $ 1,263,645 Ending balance: individually evaluated for impairment $ 27,718 $ 37 $ 19,890 $ 1,903 $ 404 $ — $ — $ 49,952 Ending balance: collectively evaluated for impairment $ 426,310 $ 74,915 $ 450,631 $ 147,080 $ 110,605 $ 1,968 $ 1,483 $ 1,212,992 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ 620 $ 81 $ — $ — $ — $ 701 December 31, 2014 Real Estate Coml, fin, and agric Construction Commercial Residential Installment loans to individuals Lease financing receivable Other Total Allowance for loan losses: Beginning balance $ 3,906 $ 1,046 $ 1,389 $ 1,141 $ 1,273 $ 21 $ 3 $ 8,779 Charge-offs (2,843 ) (1 ) (93 ) (273 ) (706 ) — — (3,916 ) Recoveries 164 — 407 47 120 — — 738 Provision 4,502 (91 ) 699 (105 ) 624 (5 ) 1 5,625 Ending balance $ 5,729 $ 954 $ 2,402 $ 810 $ 1,311 $ 16 $ 4 $ 11,226 Ending balance: individually evaluated for impairment $ 1,010 $ — $ 907 $ 68 $ 179 $ — $ — $ 2,164 Ending balance: collectively evaluated for impairment $ 4,719 $ 954 $ 1,495 $ 742 $ 1,132 $ 16 $ 4 $ 9,062 Loans: Ending balance $ 467,147 $ 68,577 $ 467,172 $ 154,602 $ 119,328 $ 4,857 $ 2,748 $ 1,284,431 Ending balance: individually evaluated for impairment $ 2,656 $ 54 $ 6,388 $ 1,072 $ 377 $ — $ — $ 10,547 Ending balance: collectively evaluated for impairment $ 464,491 $ 68,523 $ 460,118 $ 153,436 $ 118,951 $ 4,857 $ 2,748 $ 1,273,124 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ 666 $ 94 $ — $ — $ — $ 760 An age analysis of past due loans (including both accruing and non-accruing loans) is as follows (in thousands): December 31, 2015 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loans Recorded Investment > 90 days and Accruing Commercial, financial, and agricultural $ 1,362 $ 2,317 $ 25,696 $ 29,375 $ 424,653 $ 454,028 $ 59 Commercial real estate - construction 1,047 — 12 1,059 55,839 56,898 — Commercial real estate - other 1,164 514 19,512 21,190 449,951 471,141 — Residential - construction — — — — 18,054 18,054 — Residential - prime 1,703 367 1,563 3,633 145,431 149,064 19 Consumer - credit card 38 25 22 85 5,970 6,055 22 Consumer - other 984 219 387 1,590 103,364 104,954 47 Lease financing receivable — — — — 1,968 1,968 — Other loans 101 4 — 105 1,378 1,483 — $ 6,399 $ 3,446 $ 47,192 $ 57,037 $ 1,206,608 $ 1,263,645 $ 147 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loans Recorded Investment > 90 days and Accruing Commercial, financial, and agricultural $ 2,179 $ 654 $ 2,556 $ 5,389 $ 461,758 $ 467,147 $ 26 Commercial real estate - construction 15 — 105 120 43,390 43,510 97 Commercial real estate - other 4,989 270 2,464 7,723 459,449 467,172 — Residential - construction 431 — — 431 24,636 25,067 — Residential - prime 1,843 523 704 3,070 151,532 154,602 — Consumer - credit card 5 19 18 42 5,970 6,012 18 Consumer - other 671 392 107 1,170 112,146 113,316 46 Lease financing receivable — — — — 4,857 4,857 — Other loans 134 — — 134 2,614 2,748 — $ 10,267 $ 1,858 $ 5,954 $ 18,079 $ 1,266,352 $ 1,284,431 $ 187 Non-accrual loans are as follows (in thousands): December 31, 2015 2014 Commercial, financial and agricultural $ 27,705 $ 2,642 Commercial real estate – construction 37 54 Commercial real estate – other 19,907 6,429 Residential - construction — — Residential - prime 1,998 1,194 Consumer – credit card — — Consumer - other 404 382 Lease financing receivable — — Other — — $ 50,051 $ 10,701 The amount of interest that would have been recorded on nonaccrual loans, had the loans not been classified as nonaccrual, totaled approximately $2.0 million , $594,000 , and $518,000 for the years ended December 31, 2015 , 2014 , and 2013 . Interest actually received on nonaccrual loans at December 31, 2015 , 2014 , and 2013 was $47,000 , $105,000 , and $312,000 , respectively. Loans that are individually evaluated for impairment are as follows (in thousands): December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial, financial, and agricultural $ 22,529 $ 22,793 $ — $ 11,484 $ 745 Commercial real estate – construction 37 37 — 45 — Commercial real estate – other 5,886 5,886 — 3,903 97 Residential – prime 1,365 1,385 — 954 17 Consumer – other 34 34 — 56 — Subtotal: 29,851 30,135 — 16,442 859 With an allowance recorded: Commercial, financial, and agricultural 5,189 6,373 961 3,704 138 Commercial real estate – other 14,004 14,004 1,585 9,236 161 Residential – prime 538 538 160 533 7 Consumer – other 370 384 221 334 8 Subtotal: 20,101 21,299 2,927 13,807 314 Totals: Commercial 47,645 49,093 2,546 28,372 1,141 Residential 1,903 1,923 160 1,487 24 Consumer 404 418 221 390 8 Grand total: $ 49,952 $ 51,434 $ 2,927 $ 30,249 $ 1,173 December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial, financial, and agricultural $ 438 $ 521 $ — $ 554 $ — Commercial real estate – construction 54 54 — 58 — Commercial real estate – other 1,921 1,921 — 1,885 17 Residential – prime 543 543 — 534 15 Consumer – other 78 78 — 72 — Subtotal: 3,034 3,117 — 3,103 32 With an allowance recorded: Commercial, financial, and agricultural 2,218 2,333 1,010 1,394 35 Commercial real estate – construction — — — 19 — Commercial real estate – other 4,467 4,467 907 2,416 220 Residential – prime 529 548 68 452 3 Consumer – other 299 313 179 252 4 Subtotal: 7,513 7,661 2,164 4,533 262 Totals: Commercial 9,098 9,296 1,917 6,326 272 Residential 1,072 1,091 68 986 18 Consumer 377 391 179 324 4 Grand total: $ 10,547 $ 10,778 $ 2,164 $ 7,636 $ 294 The following tables present the classes of loans by risk rating (in thousands): December 31, 2015 Commercial Credit Exposure Credit Risk Profile by Creditworthiness Category Commercial, financial, and agricultural Commercial real estate –construction Commercial real estate – other Percentage of Total Pass $ 383,897 $ 56,740 $ 412,141 86.84 % Special mention 32,506 34 28,217 6.18 % Substandard 37,353 124 30,783 6.95 % Doubtful 272 — — 0.03 % $ 454,028 $ 56,898 $ 471,141 100.00 % Consumer Credit Exposure Credit Risk Profile by Creditworthiness Category Residential – construction Residential – prime Residential – subprime Percentage of Total Pass $ 18,054 $ 144,704 $ — 97.39 % Special mention — 1,225 — 0.73 % Substandard — 3,135 — 1.88 % $ 18,054 $ 149,064 $ — 100.00 % Consumer and Commercial Credit Exposure Credit Risk Profile Based on Payment Activity Consumer - credit card Consumer –other Lease financing receivable Other Percentage of Total Performing $ 6,033 $ 104,503 $ 1,968 $ 1,483 99.59 % Nonperforming 22 451 — — 0.41 % $ 6,055 $ 104,954 $ 1,968 $ 1,483 100.00 % December 31, 2014 Commercial Credit Exposure Credit Risk Profile by Creditworthiness Category Commercial, financial, and agricultural Commercial real estate –construction Commercial real estate – other Percentage of Total Pass $ 456,221 $ 43,320 $ 440,281 96.11 % Special mention 4,861 132 7,120 1.24 % Substandard 5,541 58 19,771 2.60 % Doubtful 524 — — 0.05 % $ 467,147 $ 43,510 $ 467,172 100.00 % Consumer Credit Exposure Credit Risk Profile by Creditworthiness Category Residential – construction Residential – prime Residential – subprime Percentage of Total Pass $ 25,067 $ 150,664 $ — 97.81 % Special mention — 1,184 — 0.66 % Substandard — 2,754 — 1.53 % $ 25,067 $ 154,602 $ — 100.00 % Consumer and Commercial Credit Exposure Credit Risk Profile Based on Payment Activity Consumer - credit card Consumer –other Lease financing receivable Other Percentage of Total Performing $ 5,995 $ 112,893 $ 4,857 $ 2,748 99.65 % Nonperforming 17 423 — — 0.35 % $ 6,012 $ 113,316 $ 4,857 $ 2,748 100.00 % Troubled Debt Restructurings A troubled debt restructuring (“TDR”) is a restructuring of a debt made by the Company to a debtor for economic or legal reasons related to the debtor’s financial difficulties that it would not otherwise consider. The Company grants the concession in an attempt to protect as much of its investment as possible. Information about the Company’s TDRs is as follows (in thousands): December 31, 2015 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial, financial and agricultural $ 16 $ — $ 20,865 $ 20,881 Real estate - commercial — 148 — 148 $ 16 $ 148 $ 20,865 $ 21,029 December 31, 2014 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial, financial and agricultural $ 21 $ — $ 234 $ 255 Real estate - commercial 155 — — 155 $ 176 $ — $ 234 $ 410 During the year ended December 31, 2015 , one loan relationship with a pre-modification balance of $21.4 million was identified as a TDR after conversion of the loans to interest only for a limited amount of time. This one TDR subsequently defaulted on the modified terms and totaled $20.6 million at December 31, 2015. During the year ended December 31, 2014 , there was one loan relationship with a pre-modification balance of $1.2 million identified as a TDR through a modification of the original loan terms. The loan was paid off during the second quarter of 2014 and, therefore, was not reflected in the balance of TDRs at December 31, 2014. During the year ended December 31, 2014 , there were no defaults on any loans that were modified as TDRs during the preceding twelve months. For purposes of the determination of an allowance for loan losses on these TDRs, as an identified TDR, the Company considers a loss probable on the loan and, as a result, the loan is reviewed for specific impairment in accordance with the Company’s allowance for loan loss methodology. If it is determined losses are probable on such TDRs, either because of delinquency or other credit quality indicator, the Company establishes specific reserves for these loans. As of December 31, 2015 , there were no commitments to lend additional funds to debtors owing sums to the Company whose terms have been modified in TDRs. In the opinion of management, all transactions entered into between the Company and such related parties have been and are made in the ordinary course of business, on substantially the same terms and conditions, including interest rates and collateral, as similar transactions with unaffiliated persons and do not involve more than the normal risk of collection. An analysis of the 2015 activity with respect to these related party loans and commitments to extend credit is as follows (in thousands): Balance, beginning of year $ 2,977 New loans — Repayments and adjustments (1,137 ) Balance, end of year $ 1,840

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT Premises and equipment consisted of the following (in thousands): December 31, 2015 2014 Land $ 16,253 $ 16,078 Buildings and improvements 54,126 50,731 Furniture, fixtures, and equipment 28,165 27,121 Automobiles 1,787 1,512 Leasehold improvements 10,725 10,178 Construction-in-process 1,418 2,088 112,474 107,708 Less accumulated depreciation and amortization (43,369 ) (37,750 ) $ 69,105 $ 69,958 Depreciation expense totaled approximately $6.2 million , $6.1 million , and $5.6 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The carrying amount of goodwill for each of the years ended December 31, 2015 and 2014 was approximately $42.2 million . Goodwill is recorded on the acquisition date of each entity. A summary of core deposit intangible assets as of December 31, 2015 and 2014 is as follows (in thousands): 2015 2014 Gross carrying amount $ 11,674 $ 11,674 Less accumulated amortization (5,946 ) (4,840 ) Net carrying amount $ 5,728 $ 6,834 Amortization expense on the core deposit intangible assets totaled approximately $1.1 million in 2015 , 2014 and 2013 . The estimated amortization expense on the core deposit intangible assets for the five succeeding years and thereafter is as follows (in thousands): 2016 $ 1,106 2017 1,106 2018 1,106 2019 1,107 2020 726 Thereafter 577 $ 5,728

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
DEPOSITS	DEPOSITS Deposits consisted of the following (in thousands): December 31, 2015 2014 Noninterest-bearing $ 374,261 $ 390,863 Savings and money market 531,449 473,290 NOW accounts 475,346 469,627 Time deposits less than $250 132,349 166,385 Time deposits $250 or more 37,445 85,069 $ 1,550,850 $ 1,585,234 Time deposits held consist primarily of certificates of deposits. The maturities for these deposits at December 31, 2015 are as follows (in thousands): 2016 $ 127,255 2017 24,363 2018 7,361 2019 3,129 2020 7,684 Thereafter 2 $ 169,794 Deposits from related parties totaled approximately $9.1 million and $9.6 million at December 31, 2015 and 2014 , respectively.

SECURITIES SOLD UNDER AGREEMENT

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	12 Months Ended
	Dec. 31, 2015
Disclosure of Repurchase Agreements [Abstract]
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE	SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase totaled $86.0 million and $62.1 million at December 31, 2015 and 2014 , respectively. At December 31, 2015 and 2014 , retail repurchase agreements, defined as securities sold under agreements to repurchase from our customers, totaled $73.5 million and $49.6 million , respectively. These retail repurchase agreements are secured overnight borrowings from customers, which may be drawn on demand. The agreements bear interest at a rate determined by us. The average rate of the outstanding agreements was 0.48% and 0.43% at December 31, 2015 and 2014 , respectively. The Company had pledged securities with an approximate market value of $75.1 million and $60.9 million as collateral at December 31, 2015 and 2014 , respectively. Also included in securities sold under agreements to repurchase is a $12.5 million repurchase agreement the Company entered into with CitiGroup Global Markets, Inc. (“CGMI”) effective August 9, 2007. Under the terms of the repurchase agreement, interest is payable quarterly based on a floating rate equal to the 3-month LIBOR for the first 12 months of the agreement and a fixed rate of 4.57% for the remainder of the term. The rate at December 31, 2015 and 2014 was 4.57% . The repurchase date is scheduled for August 9, 2017; however, the agreement may be called by CGMI quarterly. The Company had pledged securities with a market value of $17.6 million and $15.7 million as collateral at December 31, 2015 and 2014 , respectively. In 2015 , 2014 , and 2013 , the Company did not have an average balance in any category of short-term borrowings including retail repurchase agreements, reverse repurchase agreements, federal funds purchased, or short-term FHLB advances that exceeded 30% of our stockholders’ equity for such year.

SHORT-TERM FEDERAL HOME LOAN BA

SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES	12 Months Ended
	Dec. 31, 2015
Advances from Federal Home Loan Banks [Abstract]
SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES	SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES Short-term FHLB advances totaled $25.0 million at December 31, 2015 and 2014 . The short-term FHLB advances at December 31, 2015 consisted of one FHLB advance with a maturity of 4 months at a fixed interest rate of 0.30% . The short-term FHLB advances at December 31, 2014 consisted of one FHLB advance with a maturity of 87 days at a fixed interest rate of 0.13% . The short-term and long-term FHLB advances at December 31, 2015 and 2014 are collateralized by a blanket lien on first mortgages and other qualifying loans totaling $268.6 million and $364.4 million , respectively. As of December 31, 2015 and 2014 , the Company had $218.5 million and $314.2 million , respectively, of additional FHLB advances available.

LONG-TERM FEDERAL HOME LOAN BAN

LONG-TERM FEDERAL HOME LOAN BANK ADVANCES	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
LONG-TERM FEDERAL HOME LOAN BANK ADVANCES	LONG-TERM FEDERAL HOME LOAN BANK ADVANCES Long-term FHLB advances totaled $25.9 million and $26.3 million at December 31, 2015 and 2014 , respectively. The scheduled maturities of long-term FHLB advances at December 31, 2015 are summarized as follows (in thousands): Amount Weighted Average Rate 2016 $ 427 5.057 % 2017 15,403 3.412 % 2019 10,021 1.985 % Total FHLB advances $ 25,851

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
JUNIOR SUBORDINATED DEBENTURES	JUNIOR SUBORDINATED DEBENTURES A description of the junior subordinated debentures outstanding is as follows (in thousands): December 31, Date Issued Maturity Date Interest Rate Callable After 2015 2014 July 31, 2001 July 9, 2031 3 month LIBOR plus 3.30% July 31, 2006 $ 5,671 $ 5,671 September 20, 2004 September 20, 2034 3 month LIBOR plus 2.50% September 20, 2009 8,248 8,248 October 12, 2006 October 12, 2036 3 month LIBOR plus 1.85% June 26, 2011 5,155 5,155 June 21, 2007 June 21, 2037 3 month LIBOR plus 1.70% June 15, 2012 3,093 3,093 $ 22,167 $ 22,167 The trusts are considered variable-interest entities (“VIE”). The Trusts are not consolidated with the Company since the Company is not the primary beneficiary of the VIE. Accordingly, the Company does not report the securities issued by the Trusts as liabilities, and instead reports as liabilities the junior subordinated debentures issued by the Company and held by the Trusts, as these are not eliminated in the consolidation. The Trust Preferred Securities are recorded as junior subordinated debentures on the balance sheets, but subject to certain limitations qualify for Tier 1 capital for regulatory capital purposes. During 2014, the Company redeemed $7.2 million of its Statutory Trust 1 and Capital Securities. The early redemption of the 10.20% fixed rate junior subordinated debentures resulted in an after-tax charge of $168,000 in the third quarter of 2014.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES At December 31, 2015 , future annual minimum rental payments due under non-cancellable operating leases are as follows (in thousands): 2016 $ 1,910 2017 1,660 2018 1,618 2019 1,624 2020 1,624 Thereafter 7,191 $ 15,627 Rental expense under operating leases for 2015 , 2014 , and 2013 was approximately $2.5 million , $2.5 million , and $2.6 million , respectively. The Company is party to various legal proceedings arising in the ordinary course of business. In management’s opinion, the ultimate resolution of these legal proceedings will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. At December 31, 2015 , the Company had borrowing lines available through the Bank with the FHLB of Dallas and other correspondent banks. The Bank had approximately $218.5 million available, subject to available collateral, under a secured line of credit with the FHLB of Dallas. Federal funds lines of credit were available through correspondent banks with approximately $53.5 million available for overnight borrowing at December 31, 2015 . Additionally, $221.6 million in loan collateral is pledged under a Borrower-in-Custody line with the FRB-Atlanta.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities as of December 31, 2015 and 2014 are as follows (in thousands): 2015 2014 Deferred tax assets: Allowance for loan losses $ 7,750 $ 5,593 Alternative minimum tax credit — 388 Other 1,118 1,914 Total deferred tax assets 8,868 7,895 Deferred tax liabilities: Premises and equipment 3,634 4,336 Goodwill 1,446 1,035 FHLB stock dividends 70 65 Unrealized gains on securities 274 1,538 Other 1,272 1,798 Total deferred tax liabilities 6,696 8,772 Net deferred tax asset (liability) $ 2,172 $ (877 ) Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, the Company believes that it is more likely than not that it will realize the benefits of these deductible differences existing at December 31, 2015 . Therefore, no valuation allowance is necessary at this time. The net deferred tax asset for 2015 is included in other assets on the consolidated balance sheet. The net deferred tax liability for 2014 is included in other liabilities on the consolidated balance sheet. Components of income tax expense are as follows (in thousands): 2015 2014 2013 Current $ 6,368 $ 8,847 $ 3,323 Deferred (benefit) expense (1,785 ) (1,489 ) 2,828 Total income tax expense $ 4,583 $ 7,358 $ 6,151 The provision for federal income taxes differs from the amount computed by applying the U.S. Federal income tax statutory rate of 35% on pre-tax income as follows (in thousands): December 31, 2015 2014 2013 Taxes calculated at statutory rate $ 5,460 $ 9,264 $ 7,114 Increase (decrease) resulting from: Tax-exempt interest, net (766 ) (923 ) (1,095 ) Executive officer life insurance proceeds — (1,050 ) — Other (111 ) 67 132 $ 4,583 $ 7,358 $ 6,151 The Company’s federal income tax returns are open and subject to examination from the 2012 tax return year and forward. The various state income and franchise tax returns are generally open from the 2012 and later tax return years based on individual state statutes of limitation. We are not currently under examination by federal or state tax authorities for the 2012 , 2013 , or 2014 tax years.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
EMPLOYEE BENEFITS	EMPLOYEE BENEFITS The Company sponsors a leveraged employee stock ownership plan (“ESOP”) that covers all employees who meet minimum age and service requirements. The Company makes annual contributions to the ESOP in amounts as determined by the Board of Directors. These contributions are used to pay debt service and purchase additional shares. Certain ESOP shares are pledged as collateral for this debt. As the debt is repaid, shares are released from collateral and allocated to active employees, based on the proportion of debt service paid in the year. During 2014, the ESOP borrowed $283,000 payable to MidSouth Bank, N.A for the purpose of purchasing additional shares of MidSouth Bancorp, Inc.’s common stock. The note payable matures on June 25, 2018. The loan proceeds were used to purchase a total of 16,000 shares at an average price of $17.71 per share. During 2015, the ESOP borrowed an additional $997,000 payable to MidSouth Bank, N.A. The notes payable mature on February 20, 2019 and October 5, 2019. A total of 76,526 shares at an average price of $13.02 per share were purchased with the loan proceeds. The balances of the notes payable of the ESOP were $1.1 million and $250,000 at December 31, 2015 and December 31, 2014 , respectively. Because the source of the loan payments are contributions received by the ESOP from the Company, the related notes receivable is shown as a reduction of stockholders’ equity. In accordance with GAAP, compensation costs relating to shares purchased are based on the fair value of shares committed to be released. The unreleased shares are not considered outstanding in the computation of earnings per common share. Dividends received on ESOP shares are allocated based on shares held for the benefit of each participant and used to purchase additional shares of stock for each participant. ESOP compensation expense consisting of both cash contributions and shares committed to be released for 2015 and 2014 was approximately $720,000 . ESOP compensation expense consisting of cash contributions for 2013 was approximately $720,000 . ESOP shares as of December 31, 2015 and 2014 were as follows: 2015 2014 Allocated shares 570,905 554,741 Shares released for allocation 10,130 1,892 Unreleased shares 80,504 14,108 Total ESOP shares 661,539 570,741 Fair value of unreleased shares at December 31 $ 731,000 $ 245,000 The Company has deferred compensation arrangements with certain officers, which will provide them with a fixed benefit after retirement. The Company recorded a liability of approximately $1.4 million at December 31, 2015 and $1.3 million at December 31, 2014 in connection with these agreements. Deferred compensation expense recognized in 2015 , 2014 , and 2013 was approximately $82,000 , $80,000 , and $74,000 , respectively. The Company sponsors defined contribution post-retirement benefit agreements to provide death benefits for the designated beneficiaries of certain of the Company's executive officers. Under the agreements, split-dollar whole life insurance contracts were purchased on certain executive officers. The increase in the cash surrender value of the contracts, less the Bank's cost of funds, constitutes the Company's contribution to the agreements each year. In the event the insurance contracts fail to produce positive returns, the Company has no obligation to contribute to the agreements. During 2015 , 2014 , and 2013 , the Company incurred expenses of $14,000 , $7,000 and $12,000 , respectively, related to the agreements. The Company has a 401(k) retirement plan covering substantially all employees who have been employed for 90 days and meet certain other requirements. Under this plan, employees can contribute a portion of their salary within the limits provided by the Internal Revenue Code into the plan. The Company made contributions to the plan totaling $60,000 in 2015 , 2014 and 2013 , respectively.

EMPLOYEE STOCK PLANS

EMPLOYEE STOCK PLANS	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EMPLOYEE STOCK PLANS	EMPLOYEE STOCK PLANS In May of 2007, our stockholders approved the 2007 Omnibus Incentive Compensation Plan to provide incentives and awards for directors, officers, and employees. “Awards” as defined in the Plan includes, with limitations, stock options (including restricted stock options), restricted stock awards, stock appreciation rights, performance shares, stock awards and cash awards, all on a stand-alone, combination, or tandem basis. The 2007 Omnibus Incentive Compensation Plan replaces the 1997 Stock Incentive Plan, which expired February of 2007. A total of 525,000 of our common shares authorized were reserved for issuance under the Plan, of which 99,226 were available to be granted as of December 31, 2015 . Stock Options – The 339,376 options outstanding at December 31, 2015 were all issued under the 2007 Omnibus Incentive Compensation Plan. All options outstanding at December 31, 2015 are incentive stock options with a term of ten years , 296,874 of which vest 20% each year on the anniversary date of the grant and 42,502 of which vest 16.67% each year. The following table summarizes activity relating to stock options: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2012 307,845 $ 13.36 Granted 131,280 15.82 Exercised (6,155 ) 11.10 Forfeited or expired (328 ) 20.88 Outstanding at December 31, 2013 432,642 $ 14.13 Granted 17,500 18.99 Exercised (49,560 ) 12.97 Forfeited or expired (42,509 ) 16.24 Outstanding at December 31, 2014 358,073 $ 14.28 Granted 5,000 13.17 Exercised (7,655 ) 12.97 Forfeited or expired (16,042 ) 17.73 Outstanding at December 31, 2015 339,376 $ 14.13 6.98 $ — Exercisable at December 31, 2013 70,457 $ 14.81 Exercisable at December 31, 2014 109,691 13.98 Exercisable at December 31, 2015 162,679 13.81 6.79 $ — A summary of changes in unvested options for the period ended December 31, 2015 is as follows: Number of Options Weighted Average Grant Date Fair Value Unvested options outstanding, beginning of year 248,382 $ 4.93 Granted 5,000 3.17 Vested (72,685 ) 4.87 Forfeited (4,000 ) 5.59 Unvested options outstanding, end of year 176,697 $ 4.89 As of December 31, 2015 there was a total of $682,000 in unrecognized compensation cost related to nonvested share-based compensation arrangements. The total amount of options expensed during the years ended December 31, 2015 , 2014 and 2013 was $336,000 , $442,000 and $308,000 , respectively. The fair value of each option granted is estimated on the grant date using the Black-Scholes Option Pricing Model. This model requires management to make certain assumptions, including the expected life of the option, the risk free rate of interest, the expected volatility, and the expected dividend yield. The risk free rate of interest is based on the yield of a U.S. Treasury security with a similar term. The expected volatility is based on historic volatility over a term similar to the expected life of the options. The dividend yield is based on the current yield at the date of grant. The following assumptions were made in estimating the fair value of the options granted in 2015 and 2014 : 2015 2014 Risk free rate of interest 1.5 % 1.7 % Expected volatility 37.4 % 39.2 % Dividend yield 2.8 % 1.9 % Average expected life (in years) 5 5 Weighted-average grant-date fair value $ 3.17 $ 5.77 The total intrinsic value of the options exercised was $10,000 , $217,000 , and $41,000 for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Restricted Stock Awards – On August 17, 2015, the Compensation Committee of the Board of Directors of the Company made grants of 11,250 shares of restricted stock under the Company’s 2007 Omnibus Incentive Compensation Plan to certain executives of the Company. The restricted shares of stock, which are subject to the terms of a Restricted Stock Grant Agreement between the Company and each recipient, will fully vest on the third anniversary of the grant date. Prior to vesting, the recipient will be entitled to vote the shares and receive dividends, if any, declared by the Company with respect to its common stock. Compensation expense for restricted stock is based on the fair value of the restricted stock awards at the time of the grant, which is equal to the market value of the Company’s common stock on the date of grant. The value of the restricted stock grants that are expected to vest is amortized monthly into compensation expense over the three year vesting period. The restricted shares had a fair value of $13.92 per share on the date of issuance. For the year ended December 31, 2015 and 2013, compensation expense of $19,000 and $21,000 , respectively, was recognized related to non-vested restricted stock awards. There was no compensation expenses related to these awards in 2014. As of December 31, 2015 , there was $137,000 of unrecognized compensation cost related to non-vested restricted stock awards granted under the plan. The following table summarizes activity relating to non-vested restricted stock awards: 2015 Balance at beginning of year — Granted 11,250 Forfeited — Vested — Balance at end of year 11,250

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY The payment of dividends by the Bank to the Company is restricted by various regulatory and statutory limitations. At December 31, 2015 , the Bank had approximately $11.9 million available to pay dividends to the parent company without regulatory approval. On January 9, 2009 the Company issued 20,000 shares of Series A Preferred Stock associated with its participation in the Treasury’s Capital Purchase Plan (“CPP”) under the Troubled Asset Relief Program. The proceeds from this sale of $20,000,000 less direct costs to issue were allocated to preferred stock. The Series A preferred stock qualified as Tier 1 capital and paid cumulative dividends at a rate of 5% per annum. As part of the CPP transaction, the Company issued the Treasury a warrant to purchase 208,768 shares of our common stock at an exercise price of $14.37 per share. However, as a result of the completion of our public offering in December 2009, the number of shares subject to the warrants held by the Treasury was reduced to 104,384 shares. In late 2011, the Treasury sold this warrant to an unrelated third party. The Company did not receive any proceeds from such sale. In August 2011, the Company redeemed all 20,000 outstanding shares of Series A preferred stock at its stated value of $1,000 per share with funds from our issuance of 32,000 shares of Series B preferred stock in connection with the Company’s participation under the U.S. Treasury’s Small Business Lending Fund (“SBLF”). The additional $12.0 million of net proceeds from the issuance was provided to the Bank as additional capital. The dividend rate on the Series B preferred stock was set at 1.00% for the fourth quarter of 2013 due to attaining the target 10% growth rate in qualified small business loans during the second quarter of 2013. On February 25, 2016, the dividend rate increased to 9% per annum, consistent with the Securities Purchase Agreement which states that the rate would increase if the funding was not repaid within 4.5 years after issuance. The Series B preferred stock is nonvoting except for class voting rights on matters that would adversely affect the rights of the holders of the Series B preferred stock. On December 28, 2012, the Company issued 756,511 shares of common stock and 99,971 shares of Series C Preferred Stock in connection with the PSB acquisition. The Series C Preferred Stock is entitled to the payment of noncumulative dividends, if and when declared by the Company’s Board of Directors, at the rate of 4.00% per annum, payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, beginning on April 15, 2013. The Series C Preferred Stock ranks pari passu with the existing Senior Non-Cumulative Perpetual Preferred Stock, Series B, issued in connection with the Company’s participation under the Treasury’s SBLF and senior to the Company’s common stock. The Company may redeem the Series C Preferred Stock, subject to regulatory approval, beginning on or after the fifth anniversary of the closing date of the Merger, at a redemption price equal to the liquidation value of the Series C Preferred Stock, plus declared but unpaid dividends, if any. The Company may also redeem the Series C Preferred Stock, subject to regulatory approval, at the same redemption price prior to the fifth anniversary of the closing date in the event the Series C Preferred Stock no longer qualifies for "Tier 1 Capital” treatment by the applicable federal banking regulators. Holders may convert the Series C Preferred Stock at any time into shares of the Company’s common stock at a conversion price of $18.00 per share, subject to customary anti-dilution adjustments. In addition, on or after the fifth anniversary of the closing date, the Company will have the option to require conversion of the Series C Preferred Stock if the closing price of the Company’s common stock for 20 trading days within any period of 30 consecutive trading days, exceeds 130% of the conversion price.

OTHER COMPREHENSIVE (LOSS) INCO

OTHER COMPREHENSIVE (LOSS) INCOME	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
OTHER COMPREHENSIVE (LOSS) INCOME	OTHER COMPREHENSIVE (LOSS) INCOME The following is a summary of the tax effects allocated to each component of other comprehensive (loss) income (in thousands): December 31, 2015 2014 2013 Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount Other comprehensive (loss) income: Securities available-for-sale: Change in unrealized gain/loss during period $ (2,369 ) $ 829 $ (1,540 ) $ 4,687 $ (1,641 ) $ 3,046 $ (12,481 ) $ 4,368 $ (8,113 ) Reclassification adjustment for net gains included in net income (1,243 ) 435 (808 ) (128 ) 45 (83 ) (234 ) 82 (152 ) Total other comprehensive (loss) income $ (3,612 ) $ 1,264 $ (2,348 ) $ 4,559 $ (1,596 ) $ 2,963 $ (12,715 ) $ 4,450 $ (8,265 ) The reclassifications out of accumulated other comprehensive income into net earnings are presented below (in thousands): December 31, 2015 2014 2013 Details about Accumulated Other Comprehensive Income Components Reclassifications Out of Accumulated Other Comprehensive Income Statement of Earnings Line Item Reclassifications Out of Accumulated Other Comprehensive Income Statement of Earnings Line Item Reclassifications Out of Accumulated Other Comprehensive Income Statement of Earnings Line Item Unrealized gains and losses on securities available-for-sale: $ (1,243 ) Gain on securities, net $ (128 ) Gain on securities, net $ (234 ) Gain on securities, net 435 Income tax expense 45 Income tax expense 82 Income tax expense $ (808 ) Net of tax $ (83 ) Net of tax $ (152 ) Net of tax

NET EARNINGS PER COMMON SHARE

NET EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
NET EARNINGS PER COMMON SHARE	NET EARNINGS PER COMMON SHARE Following is a summary of the information used in the computation of earnings per common share (in thousands): December 31, 2015 2014 2013 Net earnings available to common stockholders $ 10,330 $ 18,412 $ 12,844 Dividends on Series C preferred stock 367 378 400 Adjusted net earnings available to common stockholders $ 10,697 $ 18,790 $ 13,244 Weighted average number of common shares outstanding used in computation of basic earnings per common share 11,309 11,282 11,247 Effect of dilutive securities: Stock options 5 77 50 Preferred stock 507 542 564 Weighted average number of common shares outstanding plus effect of dilutive securities used in computation of diluted earnings per common share 11,821 11,901 11,861 Options to acquire 220,596 , 24,855 and 134,611 shares of common stock were not included in computing diluted earnings per share for the years ended December 31, 2015 , 2014 and 2013 , respectively, because the effect of these shares was anti-dilutive. 11,250 shares of restricted stock were anti-dilutive and not included in the computation of diluted earnings per share for the year ended December 31, 2015. The remaining 104,384 shares subject to the outstanding warrant issued in connection with the CPP transaction were anti-dilutive and not included in the computation of diluted earnings per share for the year ended December 31, 2015.

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK The Bank is party to various financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the statements of financial condition. The contract or notional amounts of those instruments reflect the extent of the Bank’s involvement in particular classes of financial instruments. The Bank’s exposure to loan loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, standby letters of credit, and financial guarantees is represented by the contractual amount of those instruments. The Bank uses the same credit policies, including considerations of collateral requirements, in making these commitments and conditional obligations as it does for on-balance sheet instruments. Contract or Notional Amount 2015 2014 Financial instruments whose contract amounts represent credit risk: (in thousands) Commitments to extend credit $ 306,587 $ 269,672 Letters of credit 10,084 6,524 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being fully drawn upon, the total commitment amounts disclosed above do not necessarily represent future cash requirements. Substantially all of these commitments are at variable rates. Commercial letters of credit and financial guarantees are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to its customers. Approximately 91% and 83% of these letters of credit were secured by marketable securities, cash on deposit, or other assets at December 31, 2015 and 2014 , respectively.

REGULATORY MATTERS

REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
REGULATORY MATTERS	REGULATORY MATTERS The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the financial statements. Under capital adequacy guidelines, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of common equity Tier 1 capital, Tier 1 and total capital (as defined in the regulations) to risk-weighted assets (as defined) and to average assets (as defined). As of December 31, 2015 , the most recent notifications from the Federal Deposit Insurance Corporation categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain minimum common equity Tier I, total risk-based, Tier I risk-based, and Tier I leverage capital ratios as set forth in the table (in thousands). There are no conditions or events since those notifications that management believes has changed the Bank’s category. The Company’s and the Bank’s actual capital amounts and ratios are presented in the table below (in thousands): Actual Required for Minimum Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Common equity Tier I capital to risk-weighted assets: Company $ 128,470 8.91 % $ 64,907 4.50 % N/A N/A Bank $ 177,057 12.27 % $ 64,947 4.50 % $ 93,812 6.50 % Total capital to risk-weighted assets: Company $ 209,132 14.50 % $ 115,390 8.00 % N/A N/A Bank $ 195,111 13.52 % $ 115,461 8.00 % $ 144,326 10.00 % Tier I capital to risk-weighted assets: Company $ 191,089 13.25 % $ 86,543 6.00 % N/A N/A Bank $ 177,057 12.27 % $ 86,595 6.00 % $ 115,461 8.00 % Tier I capital to average assets: Company $ 191,089 10.10 % $ 75,689 4.00 % N/A N/A Bank $ 177,057 9.36 % $ 75,683 4.00 % $ 94,603 5.00 % Actual Required for Minimum Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2014: Total capital to risk-weighted assets: Company $ 190,060 13.73 % $ 110,758 8.00 % N/A N/A Bank $ 179,225 12.94 % $ 110,842 8.00 % $ 138,552 10.00 % Tier I capital to risk-weighted assets: Company $ 178,649 12.90 % $ 55,379 4.00 % N/A N/A Bank $ 167,814 12.11 % $ 55,421 4.00 % $ 83,131 6.00 % Tier I capital to average assets: Company $ 178,649 9.52 % $ 75,029 4.00 % N/A N/A Bank $ 167,814 8.95 % $ 74,994 4.00 % $ 112,492 5.00 % In July 2013, the Federal bank regulatory agencies issued a final rule that will revise their risk-based capital requirements and the method for calculating components of capital and of computing risk-weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act. The Basel III rules became effective for the Company and the Bank on January 1, 2015 (subject to a phase-in period for certain provisions). The final rule applied to all depository institutions, top-tier bank holding companies with total consolidated assets of $500 million or more and top-tier savings and loan holding companies. The rule established a new common equity Tier 1 minimum capital requirement, increased the minimum capital ratios and assigned a higher risk weight to certain assets based on the risk associated with these assets. Certain provisions of the new rules will be phased in through January 1, 2019.

FAIR VALUE MEASUREMENTS AND DIS

FAIR VALUE MEASUREMENTS AND DISCLOSURES	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND DISCLOSURES	FAIR VALUE MEASUREMENTS AND DISCLOSURES The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Securities available-for-sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans and other real estate. These nonrecurring fair value adjustments typically involve the application of the lower of cost or market accounting or write-downs of individual assets. Additionally, the Company is required to disclose, but not record, the fair value of other financial instruments. Fair Value Hierarchy The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Following is a description of valuation methodologies used for assets and liabilities which are either recorded or disclosed at fair value. Cash and cash equivalents —The carrying value of cash and cash equivalents is a reasonable estimate of fair value. Time Deposits in Other Banks —Fair values for fixed-rate time deposits are estimated using a discounted cash flow analysis that applies interest rates currently being offered on time deposits of similar terms of maturity. Securities Available-for-Sale —Securities available-for-sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange and U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter market funds. Securities are classified as Level 2 within the valuation hierarchy when the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information, and the bond’s terms and conditions, among other things. Level 2 inputs are used to value U.S. Agency securities, mortgage-backed securities, municipal securities, single issue trust preferred securities, certain pooled trust preferred securities, and certain equity securities that are not actively traded. Securities Held-to-Maturity —The fair value of securities held-to-maturity is estimated using the same measurement techniques as securities available-for-sale. Other investments —The carrying value of other investments is a reasonable estimate of fair value. Loans —For disclosure purposes, the fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings. For variable rate loans, the carrying amount is a reasonable estimate of fair value. The Company does not record loans at fair value on a recurring basis. No adjustment to fair value is taken related to illiquidity discounts. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management uses one of three methods to measure impairment, which, include collateral value, market value of similar debt, and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Impaired loans where an allowance is established based on the fair value of collateral or where the loan balance has been charged down to fair value require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the impaired loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and adjusts the appraisal value by taking an additional discount for market conditions and there is no observable market price, the Company records the impaired loan as nonrecurring Level 3. For non-performing loans, collateral valuations currently in file are reviewed for acceptability in terms of timeliness and applicability. Although each determination is made based on the facts and circumstances of each credit, generally valuations are no longer considered acceptable when there has been physical deterioration of the property from when it was last appraised, or there has been a significant change in the underlying assumptions of the appraisal. If the valuation is deemed to be unacceptable, a new appraisal is ordered. New appraisals are typically received within 4-6 weeks. While awaiting new appraisals, the valuation in file is utilized, net of discounts. Discounts are derived from available relevant market data, selling costs, taxes, and insurance. Any perceived collateral deficiency utilizing the discounted value is specifically reserved (as required by ASC Topic 310) until the new appraisal is received or charged off. Thus, provisions or charge-offs are recognized in the period the credit is identified as non-performing. The following sources are utilized to set appropriate discounts: market real estate agents, current local sales data, bank history for devaluation of similar property, Sheriff’s valuations and buy/sell contracts. If a real estate agent is used to market and sell the property, values are discounted 6% for selling costs and an additional 4% for taxes, insurance and maintenance costs. Additional discounts may be applied if research from the above sources indicates a discount is appropriate given devaluation of similar property from the time of the initial valuation. Other Real Estate —Other real estate properties are adjusted to fair value upon transfer of the loans to other real estate, and annually thereafter to insure other real estate assets are carried at the lower of carrying value or fair value. Exceptions to obtaining initial appraisals are properties where a buy/sell agreement exists for the loan value or greater, or where we have received a Sheriff’s valuation for properties liquidated through a Sheriff sale. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the other real estate as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and adjusts the appraisal value by taking an additional discount for market conditions and there is no observable market prices, the Company records the other real estate asset as nonrecurring Level 3. Cash Surrender Value of Life Insurance Policies —Fair value for life insurance cash surrender value is based on cash surrender values indicated by the insurance companies. Deposits —The fair value of demand deposits, savings accounts, NOW accounts, and money market deposits is the amount payable on demand at the reporting date. The fair value of fixed maturity certificates of deposit is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities. The estimated fair value does not include customer related intangibles. Securities Sold Under Agreements to Repurchase —The fair value approximates the carrying value of repurchase agreements due to their short-term nature. Short-term Federal Home Loan Bank advances —The fair value approximates the carrying value of short-term FHLB advances due to their short-term nature. Long-term Federal Home Loan Bank advances —The fair value of of long-term FHLB advances is estimated using a discounted cash flow analysis that applies interest rates currently being offered on similar types of borrowings with similar terms. Junior Subordinated Debentures —For junior subordinated debentures that bear interest on a floating basis, the carrying amount approximates fair value. For junior subordinated debentures that bear interest on a fixed rate basis, the fair value is estimated using a discounted cash flow analysis that applies interest rates currently being offered on similar types of borrowings. Commitments to Extend Credit, Standby Letters of Credit and Credit Card Guarantees —Because commitments to extend credit and standby letters of credit are generally short-term and made using variable rates, the carrying value and estimated fair value associated with these instruments are immaterial. Assets Recorded at Fair Value Below is a table that presents information about certain assets and liabilities measured at fair value on a recurring basis (in thousands): Assets / Liabilities Measured at Fair Value at December 31, 2015 Fair Value Measurements at December 31, 2015 Description Level 1 Level 2 Level 3 Available-for-sale securities: Obligations of state and political subdivisions $ 31,493 $ — $ 31,493 $ — GSE mortgage-backed securities 87,038 — 87,038 — Collateralized mortgage obligations: residential 192,088 — 192,088 — Collateralized mortgage obligations: commercial 5,448 — 5,448 — Mutual funds 2,092 2,092 — — Assets / Liabilities Measured at Fair Value at December 31, 2014 Fair Value Measurements at December 31, 2014 Description Level 1 Level 2 Level 3 Available-for-sale securities: U.S. Government sponsored enterprises $ 10,227 $ — $ 10,227 $ — Obligations of state and political subdivisions 44,605 — 44,605 — GSE mortgage-backed securities 109,103 — 109,103 — Collateralized mortgage obligations: residential 60,839 — 60,839 — Collateralized mortgage obligations: commercial 24,545 — 24,545 — Other asset-backed securities 24,343 — 24,343 — Collateralized debt obligation 1,218 — 1,218 — Mutual funds 2,104 2,104 Certain assets and liabilities are measured at fair value on a nonrecurring basis and therefore are not included in the table above. Impaired loans are level 2 assets measured using appraisals from external parties of the collateral less any prior liens. Other real estate owned are also level 2 assets measured using appraisals from external parties. Assets measured at fair value on a nonrecurring basis are as follows (in thousands): Assets / Liabilities Measured at Fair Value at December 31, 2015 Fair Value Measurements at December 31, 2015 Description Level 1 Level 2 Level 3 Impaired loans $ 17,487 $ — $ 17,487 $ — Other real estate 4,187 — 4,187 — Assets / Liabilities Measured at Fair Value at December 31, 2014 Fair Value Measurements at December 31, 2014 Description Level 1 Level 2 Level 3 Impaired loans $ 5,051 $ — $ 5,051 $ — Other real estate 4,234 — 4,234 — Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial instruments include deferred income taxes and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. The estimated fair values of our financial instruments are as follows at December 31, 2015 and 2014 (in thousands): Fair Value Measurements at December 31, 2015 Using: Carrying Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 89,201 $ 89,201 $ — $ — Securities available-for-sale 318,159 2,092 316,067 — Securities held-to-maturity 116,792 — 117,698 — Other investments 11,188 11,188 — — Loans, net 1,244,634 — 17,487 1,232,497 Cash surrender value of life insurance policies 13,622 — 13,622 — Financial liabilities: Non-interest-bearing deposits 374,261 — 374,261 — Interest-bearing deposits 1,176,589 — 1,007,137 168,633 Securities sold under agreements to repurchase 85,957 85,957 — — Short-term Federal Home Loan Bank advances 25,000 — 25,000 — Long-term Federal Home Loan Bank advances 25,851 — — 26,508 Junior subordinated debentures 22,167 — 22,167 — Fair Value Measurements at December 31, 2014 Using: Carrying Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 86,872 $ 86,872 $ — $ — Securities available-for-sale 276,984 2,104 274,880 — Securities held-to-maturity 141,201 — 141,593 — Other investments 9,990 9,990 — — Loans, net 1,273,205 — 5,051 1,277,882 Cash surrender value of life insurance policies 13,659 — 13,659 — Financial liabilities: Non-interest-bearing deposits 390,863 — 390,863 — Interest-bearing deposits 1,194,371 — 943,255 251,291 Securities sold under agreements to repurchase 62,098 62,098 — — Short-term Federal Home Loan Bank advances 25,000 — 25,000 — Long-term Federal Home Loan Bank advances 26,277 — — 27,193 Junior subordinated debentures 22,167 — 22,167 —

OTHER NON-INTEREST INCOME AND E

OTHER NON-INTEREST INCOME AND EXPENSE	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
OTHER NON-INTEREST INCOME AND EXPENSE	OTHER NON-INTEREST INCOME AND EXPENSE For the years ended December 31, 2015 , 2014 , and 2013 , none of the components of other noninterest income were greater than 1% of interest income and noninterest income. Components of other noninterest expense greater than 1% of interest income and noninterest income consisted of the following for the years ended December 31, 2015 , 2014 , and 2013 (in thousands): 2015 2014 2013 Professional fees $ 1,560 $ 1,802 $ 1,709 FDIC fees 1,513 1,050 1,136 Marketing expenses 1,564 1,658 2,340 Corporate development expense 1,531 1,420 1,507 Data processing 1,888 1,940 1,955 Printing and supplies 923 1,114 1,494 Amortization of intangibles 1,106 1,106 1,106

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company has evaluated all subsequent events and transactions that occurred after December 31, 2015 up through the date of filing this Annual Report on Form 10-K. No events or changes in circumstances were identified that would have an adverse impact on the financial statements.

CONDENSED FINANCIAL INFORMATION

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY	CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY Summarized financial information for MidSouth Bancorp, Inc. (parent company only) follows: Balance Sheets December 31, 2015 and 2014 (in thousands) 2015 2014 Assets Cash and interest-bearing deposits in banks $ 14,795 $ 9,452 Securities available-for-sale — 1,218 Other assets 2,117 4,486 Investment in and advances to subsidiaries 220,753 219,216 Total assets $ 237,665 $ 234,372 Liabilities and Stockholders’ Equity Liabilities: Dividends payable $ 1,195 $ 1,208 Junior subordinated debentures 22,167 22,167 ESOP obligation 1,093 250 Other 73 1,735 Total liabilities 24,528 25,360 Stockholders’ equity 213,137 209,012 Total liabilities and stockholders’ equity $ 237,665 $ 234,372 Statements of Earnings For the Years Ended December 31, 2015, 2014, and 2013 (in thousands) 2015 2014 2013 Revenue: Dividends from Bank and nonbank subsidiaries $ 9,000 $ 15,500 $ 11,000 Gain on sale of securities 1,125 — — Rental and other income 57 87 125 10,182 15,587 11,125 Expenses: Interest on short- and long-term debt 613 1,087 1,415 Professional fees 253 217 345 Other expenses 733 844 547 1,599 2,148 2,307 Income before equity in undistributed earnings of subsidiaries and income taxes 8,583 13,439 8,818 Equity in undistributed earnings of subsidiaries 2,317 4,955 4,600 Income tax benefit 117 716 758 Net earnings $ 11,017 $ 19,110 $ 14,176 Statements of Cash Flows For the Years Ended December 31, 2015, 2014, and 2013 (in thousands) 2015 2014 2013 Cash flows from operating activities: Net earnings $ 11,017 $ 19,110 $ 14,176 Adjustments to reconcile net earnings to net cash provided by operating activities: Undistributed earnings of subsidiaries (2,317 ) (4,955 ) (4,600 ) Gain on sale of securities available-for-sale (1,125 ) — — Other, net 528 (872 ) (668 ) Net cash provided by operating activities 8,103 13,283 8,908 Cash flows from investing activities: Purchase of securities available-for-sale — — (464 ) Proceeds from prepayments of securities available-for-sale — 198 — Proceeds from sale of securities available-for-sale 1,392 — — Other, net (83 ) 217 223 Net cash provided by (used in) investing activities 1,309 415 (241 ) Cash flows from financing activities: Proceeds from exercise of stock options 99 643 69 Payment of preferred dividends (689 ) (704 ) (1,519 ) Payment of common dividends (4,086 ) (3,838 ) (3,320 ) Purchase of treasury stock — (9 ) — Repayment of long-term debt — (8,217 ) (1,000 ) Other, net 607 — — Net cash used in financing activities (4,069 ) (12,125 ) (5,770 ) Net change in cash and cash equivalents 5,343 1,573 2,897 Cash and cash equivalents at beginning of year 9,452 7,879 4,982 Cash and cash equivalents at end of year $ 14,795 $ 9,452 $ 7,879

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basic of Presentation	Basis of Presentation —The consolidated financial statements include the accounts of MidSouth Bancorp, Inc. (the “Company”) and its wholly owned subsidiaries MidSouth Bank, N.A. (the “Bank”), Financial Services of the South, Inc. (the “Finance Company”), which has liquidated its loan portfolio, and Peoples General Agency (“PGA”). All significant intercompany accounts and transactions have been eliminated in consolidation. We are subject to regulation under the Bank Holding Company Act of 1956. The Bank is primarily regulated by the Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”). We are a financial holding company headquartered in Lafayette, Louisiana operating principally in the community banking business by providing banking services to commercial and retail customers through the Bank. The Bank is community oriented and focuses primarily on offering competitive commercial and consumer loan and deposit services to individuals and small to middle market businesses in Louisiana and central and east Texas. The accounting principles we follow and the methods of applying these principles conform with accounting principles generally accepted in the United States of America (“GAAP”) and with general practices within the banking industry. In preparing the financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts in the financial statements. Actual results could differ significantly from those estimates. Material estimates common to the banking industry that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, the valuation of real estate acquired in connection with or in lieu of foreclosure on loans, the assessment of goodwill for impairment, and valuation allowances associated with the realization of deferred tax assets which are based on future taxable income. Given the current instability of the economic environment, it is reasonably possible that the methodology of the assessment of potential loan losses, losses on other real estate owned, goodwill impairment, and other fair value measurements could change in the near term or could result in impairment going forward.
Cash and cash equivalents	Cash and cash equivalents —Cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits in other banks with original maturities of less than 90 days, and federal funds sold.
Investment Securities	Investment Securities —We determine the appropriate classification of debt securities at the time of purchase and reassesses this classification periodically. Trading account securities are held for resale in anticipation of short-term market movements. Debt securities are classified as held-to-maturity when we have the positive intent and ability to hold the securities to maturity. Securities not classified as held-to-maturity or trading are classified as available-for-sale. We had no trading account securities during the three years ended December 31, 2015 . Held-to-maturity securities are stated at amortized cost. Available-for-sale securities are stated at fair value, with unrealized gains and losses, net of deferred taxes, reported as a separate component of stockholders’ equity. The amortized cost of debt securities classified as held-to-maturity or available-for-sale is adjusted for amortization of premiums and accretion of discounts to maturity or, in the case of mortgage-backed securities, over the estimated life of the security. Amortization, accretion, and accrued interest are included in interest income on securities. Realized gains and losses on the sale of securities available-for-sale are included in earnings and are determined using the specific-identification method. Management evaluates investment securities for other than temporary impairment on a quarterly basis. A decline in the fair value of available-for-sale and held-to-maturity securities below cost that is deemed other than temporary is charged to earnings for a decline in value deemed to be credit related and a new cost basis for the security is established. The decline in value attributed to non-credit related factors is recognized in other comprehensive income.
Other Investments	Other Investments —Other investments include Federal Reserve Bank and Federal Home Loan Bank stock, as well as other correspondent bank stocks and our CRA investment, which have no readily determined market value and are carried at cost. Due to the redemption provisions of the investments, the fair value equals cost and no impairment exists.
Loans	Loans —Loans that we have the intent and ability to hold for the foreseeable future or until maturity are reported at the principal amount outstanding, net of the allowance for loan losses and any deferred fees or costs on originated loans. Interest income on commercial and real estate mortgage loans is calculated by using the simple interest method on the daily balance of the principal amount outstanding. Unearned income on installment loans is credited to operations based on a method which approximates the interest method. In-house legal counsel and the collections department are responsible for validating loans past due for reporting purposes. Once loans are determined to be past due, the collections department actively works with customers to bring loans back to current status. We consider a loan to be impaired when, based upon current information and events, we believe it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. All loans classified as special mention, substandard, or doubtful, based on credit risk rating factors, are reviewed for impairment. Our impaired loans include troubled debt restructurings and performing and nonperforming major loans in which full payment of principal or interest is not expected. Although our policy requires that non-major homogenous loans, which include all loans under $250,000 , be evaluated on an overall basis, our current volume of impaired loans allows us to evaluate each impaired loan individually. We calculate the allowance required for impaired loans based on the present value of expected future cash flows discounted at the loan’s effective interest rate, or at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. A loan may be impaired but not on nonaccrual status when available information suggests that it is probable the Bank may not receive all contractual principal and interest, however, the loan is still current and payments are received in accordance with the terms of the loan. Payments received for impaired loans not on nonaccrual status are applied to principal and interest. All impaired loans are reviewed, at minimum, on a quarterly basis. Reviews may be performed more frequently if material information is available before the next scheduled quarterly review. Existing valuations are reviewed to determine if additional discounts or new appraisals are required. After this review, when comparing the resulting collateral valuation to the outstanding loan balance, if the discounted collateral value exceeds the loan balance no specific allocation is reserved. All loans included in our impairment analysis are subject to the same procedure and review, with no distinction given to the dollar amount of the loan. Our Special Assets Committee meets monthly on troubled credits to review loans with adverse classifications. Loan officers, loan review officers, and in-house legal counsel contribute updated information on each credit, reviewing potential declines or improvements in the borrower’s repayment ability and our collateral position. If deterioration in our collateral position is determined, additional discounts may be applied to the impairment analysis before the new appraisal is received. The committee makes a determination of whether the loans reviewed have reached a point of collateral dependency and sufficient doubt exists as to collectability. As a matter of policy, loans are placed on nonaccrual status when, in the judgment of committee members, the probability of collection of interest is deemed insufficient to warrant further accrual. For loans placed on nonaccrual status, the accrual of interest is discontinued and subsequent payments received are applied to the principal balance. Interest income is recorded after principal has been satisfied and as payments are received. Additionally, loans may be placed on nonaccrual status when the loan becomes 90 days past due and any of the following conditions exist: it becomes evident that the borrower will not make payments or will not or cannot meet the Bank’s terms for the renewal of a matured loan, full repayment of principal and interest is not expected, the loan has a credit quality of substandard, the borrower files bankruptcy and an approved plan of reorganization or liquidation is not anticipated in the near future, or foreclosure action is initiated. When a loan is placed on nonaccrual status, previously accrued but unpaid interest for the current year is deducted from interest income. Prior year unpaid interest is charged to the allowance for loan losses. Some loans may continue accruing after 90 days if the loan is in the process of renewing, being paid off, or the underlying collateral fully supports both the principal and accrued interest and the loan is in the process of collection. Nonaccrual loans may be returned to accrual status if all principal and interest amounts contractually owed are reasonably assured of repayment within a reasonable period and there is a period of at least six months to one year of repayment performance by the borrower depending on the contractual payment terms. Our Special Assets Committee must approve the return of loans to accrual status as well as exceptions to any requirements of the non-accrual policy. Generally, commercial, financial, and agricultural loans; construction loans; commercial real estate loans; consumer loans; and finance leases which become 90 days delinquent are either in the process of collection through repossession or foreclosure or are deemed currently uncollectible. The portion of loans deemed currently uncollectible, due to insufficient collateral, are charged-off against the allowance for loan losses. All loans requested to be charged-off must be specifically authorized by in-house legal counsel and the CEO. Requests may be initiated by collection personnel, bank counsel, loan review, and lending personnel. Charge-offs will be reviewed by in-house legal counsel and the CEO to ensure the propriety and accuracy of charge-off recommendations. Factors considered when determining loan collectability and amount to be charged off for all segments in our loan portfolio include delinquent principal or interest repayment, the ability of borrower to make future payments, collateral value of outstanding debt, and the adequacy of guarantors support. It is the responsibility of in-house legal counsel to report all charge-offs to the Board of Directors or its designated Committee for ratification.
Credit Risk Rating	Credit Risk Rating —We manage credit risk by observing written underwriting standards and lending policy established by the Board of Directors and management to govern all lending activities. The risk management program requires that each individual loan officer review his or her portfolio on a quarterly basis and assign recommended credit ratings on each loan. These efforts are supplemented by independent reviews performed by a loan review officer and other validations performed by the internal audit department. The results of the reviews are reported directly to the Audit Committee of the Board of Directors. Additionally, Bank concentrations are monitored and reported quarterly for risk rating distributions, major standard industry classification segments, real estate concentrations, and collateral distributions. Consumer and residential real estate loans are normally graded at inception, and the grade generally remains the same throughout the life of the loan. Loan grades on commercial, financial, and agricultural; construction; commercial real estate; and finance leases may be changed at any time when circumstances warrant, and are at a minimum reviewed quarterly. Loans can be classified into the following three risk rating groupings: pass, special mention, and substandard/doubtful. Factors considered in determining a risk rating grade include debt service capacity, capital structure/liquidity, management, collateral quality, industry risk, company trends/operating performance, repayment source, revenue diversification/customer concentration, quality of financial information, and financing alternatives. Pass grade signifies the highest quality of loans to loans with reasonable credit risk, which may include borrowers with marginally adequate financial performance, but have the ability to repay the debt. Special mention loans have potential weaknesses that warrant extra attention from the loan officer and other management personnel, but still have the ability to repay the debt. Substandard classification includes loans with well-defined weaknesses with risk of potential loss. Loans classified as doubtful are considered to have little recovery value and are charged off.
Allowance for Loan Losses	Allowance for Loan Losses —The allowance for loan losses is a valuation account available to absorb probable losses on loans. All losses are charged to the allowance for loan losses when the loss actually occurs or when a determination is made that a loss is likely to occur. Recoveries are credited to the allowance for loan losses at the time of recovery. Quarterly, we estimate the probable level of losses in the existing portfolio through consideration of such factors including, but not limited to, past loan loss experience; estimated losses in significant credits; known deterioration in concentrations of credit; trends in nonperforming assets; volume and composition of the loan portfolio, including percentages of special mention, substandard and past due loans; lending policies and control systems; known inherent risks in the portfolio; adverse situations that may affect the borrower’s ability to repay; the estimated value of any underlying collateral; current national and local economic conditions, including the unemployment rate, the price of oil, and real estate absorption time; the experience, ability and depth of lending management; collections personnel experience; and the results of examinations of the loan portfolio by regulatory agencies and others. Based on these estimates, the allowance for loan losses is increased by charges to earnings and decreased by charge-offs (net of recoveries). The allowance is composed of general reserves and specific reserves. General reserves are determined by applying loss percentages to segments of the portfolio. The loss percentages are based on each segment’s historical loss experience, generally over the past twelve to eighteen months, and adjustment factors derived from conditions in the Bank’s internal and external environment. All loans considered to be impaired are evaluated on an individual basis to determine specific reserve allocations in accordance with GAAP. Loans for which specific reserves are provided are excluded from the calculation of general reserves. We have an internal loan review department that is independent of the lending function to challenge and corroborate the loan grade assigned by the lender and to provide additional analysis in determining the adequacy of the allowance for loan losses. Management and the Board of Directors believe the allowance for loan losses is appropriate at December 31, 2015 . While determination of the allowance for loan losses is based on available information at a given point in time, future additions to the allowance may be necessary based on changes in economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review our allowance for loan losses. Such agencies may require us to recognize additions or deductions to the allowance based on their judgment and information available to them at the time of their examination.
Interest Rate Swap Agreements	Interest Rate Swap Agreements —Derivative financial instruments are recognized as assets and liabilities on the consolidated balance sheets and, as required by ASC 815, the Company records all derivatives at fair value. Interest rate swaps are contracts in which a series of interest rate cash flows are exchanged over a prescribed period. The notional balance of interest rate swap agreements held by the Company at December 31, 2015 and 2014 was minimal and not material to the consolidated balance sheets.
Premises and Equipment	Premises and Equipment —Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives used to compute depreciation are: Buildings and improvements 10 - 40 years Furniture, fixtures, and equipment 3 - 10 years Automobiles 3 - 5 years Leasehold improvements are amortized over the estimated useful lives of the improvements or the term of the lease, whichever is shorter.
Other Real Estate Owned	Other Real Estate Owned —Real estate properties acquired through, or in lieu of, loan foreclosures are initially recorded at fair value less estimated costs to sell based on a current valuation at the time of foreclosure. After foreclosure, valuations are periodically performed by management and a charge to earnings is recorded if the carrying value of a property exceeds its fair value less estimated costs to sell. Revenues and expenses from operations and changes in the valuation allowance are charged to earnings.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets —Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill and other intangible assets deemed to have an indefinite useful life are not amortized but instead are subject to review for impairment annually, or more frequently if deemed necessary. Also, in connection with business combinations involving banks and branch locations, we generally record core deposit intangibles representing the value of the acquired core deposit base. Core deposit intangibles are amortized over the estimated useful life of the deposit base, generally on either a straight-line basis not exceeding 15 years or an accelerated basis over 10 years . The remaining useful lives of core deposit intangibles are evaluated periodically to determine whether events and circumstances warrant revision of the remaining period of amortization.
Cash Surrender Value of Life Insurance	Cash Surrender Value of Life Insurance —Life insurance contracts represent single premium life insurance contracts on the lives of certain officers of the Company. The Company is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in other noninterest income.
Repurchase Agreements	Repurchase Agreements —Securities sold under agreements to repurchase are secured borrowings treated as financing activities and are carried at the amounts at which the securities will be subsequently reacquired as specified in the respective agreements.
Deferred Compensation	Deferred Compensation —We record the expense of deferred compensation agreements over the service periods of the persons covered under these agreements.
Income Taxes	Income Taxes —Deferred tax assets and liabilities are recorded for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Future tax benefits, such as net operating loss carry forwards, are recognized to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income tax expense in the period that includes the enactment date. In the event the future tax consequences of differences between the financial reporting bases and the tax bases of our assets and liabilities results in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such assets is required. A valuation allowance is provided when it is more likely than not that a portion or the full amount of the deferred tax asset will not be realized. In assessing the ability to realize the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. A deferred tax liability is not recognized for portions of the allowance for loan losses for income tax purposes in excess of the financial statement balance. Such a deferred tax liability will only be recognized when it becomes apparent that those temporary differences will reverse in the foreseeable future. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent more likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
Stock-Based Compensation	Stock-Based Compensation —We expense stock-based compensation based upon the grant date fair value of the related equity award over the requisite service period of the employee.
Basic and Diluted Earnings Per Common Share	Basic and Diluted Earnings Per Common Share —Basic earnings per common share (“EPS”) excludes dilution and is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is computed by dividing net earnings by the total of the weighted-average number of shares outstanding plus the dilutive effect of outstanding options. The amounts of common stock and additional paid-in capital are adjusted to give retroactive effect to large stock dividends. Small stock dividends, or dividends less than 25% of issued shares at the declaration date, are reflected as an increase in common stock and additional paid-in capital and a decrease in retained earnings for the market value of the shares on the date the dividend is declared.
Comprehensive Income	Comprehensive Income —Generally all recognized revenues, expenses, gains and losses are included in net earnings. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the consolidated balance sheets, such items, along with net earnings, are components of comprehensive income. We present comprehensive income in a separate consolidated statement of comprehensive income.
Statements of Cash Flows	Statements of Cash Flows —For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold, and interest-bearing deposits in other banks with original maturities of less than 90 days. Generally, federal funds are sold for one -day periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements — ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items was issued as part of the FASB's simplification initiative. ASU 2015-01 eliminates the concept of extraordinary items. The effective date of this Update is for fiscal years beginning on or after December 15, 2015 and interim periods within those annual periods. Adoption of this Update is not expected to have a material effect on the Company’s consolidated financial statements or the interim notes to the consolidated financial statements. ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs was also issued as part of the FASB's simplification initiative. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Currently, debt issuance costs are presented as an asset on the balance sheet. The FASB notes within the ASU, capitalized debt issuance costs do not meet the definition of an asset and are more akin to a debt discount, thereby reducing the carrying amount of the proceeds received. The effective date of this Update is for fiscal years beginning on or after December 15, 2015 and interim periods within those annual periods. Adoption of this Update is not expected to have a material effect on the Company’s consolidated financial statements or the interim notes to the consolidated financial statements. ASU 2016-01, Financial Statements - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities is the first ASU issued under the FASB's financial instruments project. ASU 2016-01 primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. The guidance in this ASU requires all equity securities with readily determinable fair values to be measured at fair value on the balance sheet, with changes in fair value recorded through earnings. For financial liabilities that are measured at fair value in accordance with the fair value option, the guidance requires changes in the fair value of a financial liabilities attributable to a change in instrument-specific credit risk to be recorded separately in other comprehensive income. This ASU eliminates the requirement to disclose the methods and significant assumptions used to estimate fair value. It does require public entities to use the exit price when measuring the fair value of financial instruments measured at amortized cost for disclosure purposes In addition, the new guidance requires financial assets and financial liabilities to be presented separately in the notes to the financial statements, grouped by measurement category and form of financial asset. The effective date of this Update is for fiscal years beginning on or after December 15, 2017. The Company is evaluating the impact, if any, that ASU 2016-01 will have on its financial position, results of operations, and its financial statement disclosures. ASU 2016-02, Leases (Topic 842) was issued with the intention of improving financial reporting about leasing transactions. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP - which requires only capital leases to be recognized on the balance sheet - the guidance in the ASU will require both types of leases to be recognized on the balance sheet. The ASU also will require disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. The effective date of this Update is for fiscal years beginning on or after December 15, 2018. The Company is evaluating the impact that ASU 2016-02 will have on its financial position, results of operations, and its financial statement disclosures. Louisiana Business Corporation Act — Effective January 1, 2015, companies incorporated under Louisiana law became subject to the Louisiana Business Corporation Act. Provisions of the Louisiana Business Corporation Act eliminate the concept of treasury stock. Rather, shares purchased by the Company constitute authorized but unissued shares. Accounting principles generally accepted in the United States of America state that accounting for treasury stock shall conform to state law. The Company's consolidated financial statements as of December 31, 2015 reflect this change. The cost of shares purchased by the Company has been allocated to common stock and additional paid-in capital balances.
Reclassifications	Reclassifications —Certain reclassifications have been made to the prior years’ financial statements in order to conform to the classifications adopted for reporting in 2015 . The reclassifications had no impact on net income or stockholders’ equity.

SUMMARY OF SIGNIFICANT ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives	The estimated useful lives used to compute depreciation are: Buildings and improvements 10 - 40 years Furniture, fixtures, and equipment 3 - 10 years Automobiles 3 - 5 years

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Portfolio of Available-for-Sale Investment Securities	The portfolio of securities consisted of the following (in thousands): December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: Obligations of state and political subdivisions $ 30,750 $ 770 $ 27 $ 31,493 GSE mortgage-backed securities 84,946 2,321 229 87,038 Collateralized mortgage obligations: residential 194,067 297 2,276 192,088 Collateralized mortgage obligations: commercial 5,512 1 65 5,448 Mutual funds 2,100 — 8 2,092 $ 317,375 $ 3,389 $ 2,605 $ 318,159 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale: U.S. Government sponsored enterprises $ 10,339 $ — $ 112 $ 10,227 Obligations of state and political subdivisions 43,079 1,555 29 44,605 GSE mortgage-backed securities 106,208 3,183 288 109,103 Collateralized mortgage obligations: residential 62,093 266 1,520 60,839 Collateralized mortgage obligations: commercial 24,462 190 107 24,545 Other asset-backed securities 24,041 321 19 24,343 Collateralized debt obligation 266 952 — 1,218 Mutual funds 2,100 4 — 2,104 $ 272,588 $ 6,471 $ 2,075 $ 276,984
Portfolio of Held-to-Maturity Securities	December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity: Obligations of state and political subdivisions $ 43,737 $ 697 $ 6 $ 44,428 GSE mortgage-backed securities 55,696 705 131 56,270 Collateralized mortgage obligations: residential 10,803 — 361 10,442 Collateralized mortgage obligations: commercial 6,556 2 — 6,558 $ 116,792 $ 1,404 $ 498 $ 117,698 December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Held-to-maturity: Obligations of state and political subdivisions $ 45,914 $ 267 $ 192 $ 45,989 GSE mortgage-backed securities 67,268 1,080 164 68,184 Collateralized mortgage obligations: residential 12,709 — 479 12,230 Collateralized mortgage obligations: commercial 15,310 53 173 15,190 $ 141,201 $ 1,400 $ 1,008 $ 141,593
Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity	The amortized cost and fair value of debt securities at December 31, 2015 by contractual maturity are shown below (in thousands). Except for mortgage backed securities, collateralized mortgage obligations, other asset backed securities, and collateralized debt obligations, expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value Available-for-sale: Due in one year or less $ 5,670 $ 5,702 Due after one year through five years 19,456 20,002 Due after five years through ten years 3,929 4,118 Due after ten years 1,695 1,671 Mortgage-backed securities and collateralized mortgage obligations: Residential 279,013 279,126 Commercial 5,512 5,448 Mutual funds 2,100 2,092 $ 317,375 $ 318,159 Amortized Cost Fair Value Held-to-maturity: Due in one year or less $ 472 $ 473 Due after one year through five years 3,406 3,431 Due after five years through ten years 10,575 10,756 Due after ten years 29,284 29,768 Mortgage-backed securities and collateralized mortgage obligations: Residential 66,499 66,712 Commercial 6,556 6,558 $ 116,792 $ 117,698
Schedule of Investment Securities with Unrealized Losses	Details concerning investment securities with unrealized losses are as follows (in thousands): December 31, 2015 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Available-for-sale: Obligations of state and political subdivisions $ 1,192 $ 27 $ — $ — $ 1,192 $ 27 GSE mortgage-backed securities 21,607 229 — — 21,607 229 Collateralized mortgage obligations: residential 140,999 1,207 30,029 1,069 171,028 2,276 Collateralized mortgage obligations: commercial — — 2,946 65 2,946 65 Mutual funds 2,092 8 — — 2,092 8 $ 165,890 $ 1,471 $ 32,975 $ 1,134 $ 198,865 $ 2,605 December 31, 2014 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Available-for-sale: U.S. Government sponsored enterprises $ 4,973 $ 32 $ 5,254 $ 80 $ 10,227 $ 112 Obligations of state and political subdivisions 2,029 29 — — 2,029 29 GSE mortgage-backed securities 6,668 25 21,538 263 28,206 288 Collateralized mortgage obligations: residential 9,366 53 37,997 1,467 47,363 1,520 Collateralized mortgage obligations: commercial — — 3,747 107 3,747 107 Other asset-backed securities 6,401 19 — — 6,401 19 $ 29,437 $ 158 $ 68,536 $ 1,917 $ 97,973 $ 2,075 December 31, 2015 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Held-to-maturity: Obligations of state and political subdivisions $ 541 $ 1 $ 505 $ 5 $ 1,046 $ 6 GSE mortgage-backed securities — — 7,021 131 7,021 131 Collateralized mortgage obligations: residential — — 10,442 361 10,442 361 $ 541 $ 1 $ 17,968 $ 497 $ 18,509 $ 498 December 31, 2014 Securities with losses under 12 months Securities with losses over 12 months Total Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Held-to-maturity: Obligations of state and political subdivisions $ 11,761 $ 35 $ 13,263 $ 157 $ 25,024 $ 192 GSE mortgage-backed securities — — 8,142 164 8,142 164 Collateralized mortgage obligations: residential — — 12,230 479 12,230 479 Collateralized mortgage obligations: commercial 7,599 173 — — 7,599 173 $ 19,360 $ 208 $ 33,635 $ 800 $ 52,995 $ 1,008

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Summary of the Loan Portfolio	The loan portfolio consisted of the following (in thousands): December 31, 2015 2014 Commercial, financial and agricultural $ 454,028 $ 467,147 Real estate – construction 74,952 68,577 Real estate – commercial 471,141 467,172 Real estate – residential 149,064 154,602 Installment loans to individuals 111,009 119,328 Lease financing receivable 1,968 4,857 Other 1,483 2,748 1,263,645 1,284,431 Less allowance for loan losses (19,011 ) (11,226 ) $ 1,244,634 $ 1,273,205
Summary of Activity in Allowance for Loan Losses	An analysis of the activity in the allowance for loan losses is as follows (in thousands): December 31, 2015 2014 2013 Balance, beginning of year $ 11,226 $ 8,779 $ 7,370 Provision for loan losses 13,900 5,625 3,050 Recoveries 459 738 265 Loans charged-off (6,574 ) (3,916 ) (1,906 ) Balance, end of year $ 19,011 $ 11,226 $ 8,779
Roll Forward of Activity	A rollforward of the activity within the allowance for loan losses by loan type and recorded investment in loans for the years ended December 31, 2015 and 2014 is as follows (in thousands): December 31, 2015 Real Estate Coml, fin, and agric Construction Commercial Residential Installment loans to individuals Lease financing receivable Other Total Allowance for loan losses: Beginning balance $ 5,729 $ 954 $ 2,402 $ 810 $ 1,311 $ 16 $ 4 $ 11,226 Charge-offs (4,936 ) (105 ) (183 ) (87 ) (1,263 ) — — (6,574 ) Recoveries 235 3 26 12 183 — — 459 Provision 10,240 (33 ) 2,369 81 1,237 (2 ) 8 13,900 Ending balance $ 11,268 $ 819 $ 4,614 $ 816 $ 1,468 $ 14 $ 12 $ 19,011 Ending balance: individually evaluated for impairment $ 961 $ — $ 1,585 $ 160 $ 221 $ — $ — $ 2,927 Ending balance: collectively evaluated for impairment $ 10,307 $ 819 $ 3,029 $ 656 $ 1,247 $ 14 $ 12 $ 16,084 Loans: Ending balance $ 454,028 $ 74,952 $ 471,141 $ 149,064 $ 111,009 $ 1,968 $ 1,483 $ 1,263,645 Ending balance: individually evaluated for impairment $ 27,718 $ 37 $ 19,890 $ 1,903 $ 404 $ — $ — $ 49,952 Ending balance: collectively evaluated for impairment $ 426,310 $ 74,915 $ 450,631 $ 147,080 $ 110,605 $ 1,968 $ 1,483 $ 1,212,992 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ 620 $ 81 $ — $ — $ — $ 701 December 31, 2014 Real Estate Coml, fin, and agric Construction Commercial Residential Installment loans to individuals Lease financing receivable Other Total Allowance for loan losses: Beginning balance $ 3,906 $ 1,046 $ 1,389 $ 1,141 $ 1,273 $ 21 $ 3 $ 8,779 Charge-offs (2,843 ) (1 ) (93 ) (273 ) (706 ) — — (3,916 ) Recoveries 164 — 407 47 120 — — 738 Provision 4,502 (91 ) 699 (105 ) 624 (5 ) 1 5,625 Ending balance $ 5,729 $ 954 $ 2,402 $ 810 $ 1,311 $ 16 $ 4 $ 11,226 Ending balance: individually evaluated for impairment $ 1,010 $ — $ 907 $ 68 $ 179 $ — $ — $ 2,164 Ending balance: collectively evaluated for impairment $ 4,719 $ 954 $ 1,495 $ 742 $ 1,132 $ 16 $ 4 $ 9,062 Loans: Ending balance $ 467,147 $ 68,577 $ 467,172 $ 154,602 $ 119,328 $ 4,857 $ 2,748 $ 1,284,431 Ending balance: individually evaluated for impairment $ 2,656 $ 54 $ 6,388 $ 1,072 $ 377 $ — $ — $ 10,547 Ending balance: collectively evaluated for impairment $ 464,491 $ 68,523 $ 460,118 $ 153,436 $ 118,951 $ 4,857 $ 2,748 $ 1,273,124 Ending balance: loans acquired with deteriorated credit quality $ — $ — $ 666 $ 94 $ — $ — $ — $ 760
Age Analysis of Past Due Loans	An age analysis of past due loans (including both accruing and non-accruing loans) is as follows (in thousands): December 31, 2015 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loans Recorded Investment > 90 days and Accruing Commercial, financial, and agricultural $ 1,362 $ 2,317 $ 25,696 $ 29,375 $ 424,653 $ 454,028 $ 59 Commercial real estate - construction 1,047 — 12 1,059 55,839 56,898 — Commercial real estate - other 1,164 514 19,512 21,190 449,951 471,141 — Residential - construction — — — — 18,054 18,054 — Residential - prime 1,703 367 1,563 3,633 145,431 149,064 19 Consumer - credit card 38 25 22 85 5,970 6,055 22 Consumer - other 984 219 387 1,590 103,364 104,954 47 Lease financing receivable — — — — 1,968 1,968 — Other loans 101 4 — 105 1,378 1,483 — $ 6,399 $ 3,446 $ 47,192 $ 57,037 $ 1,206,608 $ 1,263,645 $ 147 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Total Loans Recorded Investment > 90 days and Accruing Commercial, financial, and agricultural $ 2,179 $ 654 $ 2,556 $ 5,389 $ 461,758 $ 467,147 $ 26 Commercial real estate - construction 15 — 105 120 43,390 43,510 97 Commercial real estate - other 4,989 270 2,464 7,723 459,449 467,172 — Residential - construction 431 — — 431 24,636 25,067 — Residential - prime 1,843 523 704 3,070 151,532 154,602 — Consumer - credit card 5 19 18 42 5,970 6,012 18 Consumer - other 671 392 107 1,170 112,146 113,316 46 Lease financing receivable — — — — 4,857 4,857 — Other loans 134 — — 134 2,614 2,748 — $ 10,267 $ 1,858 $ 5,954 $ 18,079 $ 1,266,352 $ 1,284,431 $ 187
Schedule of Non-Accrual Loans	Non-accrual loans are as follows (in thousands): December 31, 2015 2014 Commercial, financial and agricultural $ 27,705 $ 2,642 Commercial real estate – construction 37 54 Commercial real estate – other 19,907 6,429 Residential - construction — — Residential - prime 1,998 1,194 Consumer – credit card — — Consumer - other 404 382 Lease financing receivable — — Other — — $ 50,051 $ 10,701
Schedule of Loans that are Individually Evaluated for Impairment	Loans that are individually evaluated for impairment are as follows (in thousands): December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial, financial, and agricultural $ 22,529 $ 22,793 $ — $ 11,484 $ 745 Commercial real estate – construction 37 37 — 45 — Commercial real estate – other 5,886 5,886 — 3,903 97 Residential – prime 1,365 1,385 — 954 17 Consumer – other 34 34 — 56 — Subtotal: 29,851 30,135 — 16,442 859 With an allowance recorded: Commercial, financial, and agricultural 5,189 6,373 961 3,704 138 Commercial real estate – other 14,004 14,004 1,585 9,236 161 Residential – prime 538 538 160 533 7 Consumer – other 370 384 221 334 8 Subtotal: 20,101 21,299 2,927 13,807 314 Totals: Commercial 47,645 49,093 2,546 28,372 1,141 Residential 1,903 1,923 160 1,487 24 Consumer 404 418 221 390 8 Grand total: $ 49,952 $ 51,434 $ 2,927 $ 30,249 $ 1,173 December 31, 2014 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized With no related allowance recorded: Commercial, financial, and agricultural $ 438 $ 521 $ — $ 554 $ — Commercial real estate – construction 54 54 — 58 — Commercial real estate – other 1,921 1,921 — 1,885 17 Residential – prime 543 543 — 534 15 Consumer – other 78 78 — 72 — Subtotal: 3,034 3,117 — 3,103 32 With an allowance recorded: Commercial, financial, and agricultural 2,218 2,333 1,010 1,394 35 Commercial real estate – construction — — — 19 — Commercial real estate – other 4,467 4,467 907 2,416 220 Residential – prime 529 548 68 452 3 Consumer – other 299 313 179 252 4 Subtotal: 7,513 7,661 2,164 4,533 262 Totals: Commercial 9,098 9,296 1,917 6,326 272 Residential 1,072 1,091 68 986 18 Consumer 377 391 179 324 4 Grand total: $ 10,547 $ 10,778 $ 2,164 $ 7,636 $ 294
Schedule of Classes of Loans by Risk Rating	The following tables present the classes of loans by risk rating (in thousands): December 31, 2015 Commercial Credit Exposure Credit Risk Profile by Creditworthiness Category Commercial, financial, and agricultural Commercial real estate –construction Commercial real estate – other Percentage of Total Pass $ 383,897 $ 56,740 $ 412,141 86.84 % Special mention 32,506 34 28,217 6.18 % Substandard 37,353 124 30,783 6.95 % Doubtful 272 — — 0.03 % $ 454,028 $ 56,898 $ 471,141 100.00 % Consumer Credit Exposure Credit Risk Profile by Creditworthiness Category Residential – construction Residential – prime Residential – subprime Percentage of Total Pass $ 18,054 $ 144,704 $ — 97.39 % Special mention — 1,225 — 0.73 % Substandard — 3,135 — 1.88 % $ 18,054 $ 149,064 $ — 100.00 % Consumer and Commercial Credit Exposure Credit Risk Profile Based on Payment Activity Consumer - credit card Consumer –other Lease financing receivable Other Percentage of Total Performing $ 6,033 $ 104,503 $ 1,968 $ 1,483 99.59 % Nonperforming 22 451 — — 0.41 % $ 6,055 $ 104,954 $ 1,968 $ 1,483 100.00 % December 31, 2014 Commercial Credit Exposure Credit Risk Profile by Creditworthiness Category Commercial, financial, and agricultural Commercial real estate –construction Commercial real estate – other Percentage of Total Pass $ 456,221 $ 43,320 $ 440,281 96.11 % Special mention 4,861 132 7,120 1.24 % Substandard 5,541 58 19,771 2.60 % Doubtful 524 — — 0.05 % $ 467,147 $ 43,510 $ 467,172 100.00 % Consumer Credit Exposure Credit Risk Profile by Creditworthiness Category Residential – construction Residential – prime Residential – subprime Percentage of Total Pass $ 25,067 $ 150,664 $ — 97.81 % Special mention — 1,184 — 0.66 % Substandard — 2,754 — 1.53 % $ 25,067 $ 154,602 $ — 100.00 % Consumer and Commercial Credit Exposure Credit Risk Profile Based on Payment Activity Consumer - credit card Consumer –other Lease financing receivable Other Percentage of Total Performing $ 5,995 $ 112,893 $ 4,857 $ 2,748 99.65 % Nonperforming 17 423 — — 0.35 % $ 6,012 $ 113,316 $ 4,857 $ 2,748 100.00 %
Summary of Troubled Debt Restructurings	Information about the Company’s TDRs is as follows (in thousands): December 31, 2015 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial, financial and agricultural $ 16 $ — $ 20,865 $ 20,881 Real estate - commercial — 148 — 148 $ 16 $ 148 $ 20,865 $ 21,029 December 31, 2014 Current Past Due Greater Than 30 Days Nonaccrual TDRs Total TDRs Commercial, financial and agricultural $ 21 $ — $ 234 $ 255 Real estate - commercial 155 — — 155 $ 176 $ — $ 234 $ 410
Analysis of Activity in Related Party Loans and Commitments to Extend Credit	An analysis of the 2015 activity with respect to these related party loans and commitments to extend credit is as follows (in thousands): Balance, beginning of year $ 2,977 New loans — Repayments and adjustments (1,137 ) Balance, end of year $ 1,840

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	Premises and equipment consisted of the following (in thousands): December 31, 2015 2014 Land $ 16,253 $ 16,078 Buildings and improvements 54,126 50,731 Furniture, fixtures, and equipment 28,165 27,121 Automobiles 1,787 1,512 Leasehold improvements 10,725 10,178 Construction-in-process 1,418 2,088 112,474 107,708 Less accumulated depreciation and amortization (43,369 ) (37,750 ) $ 69,105 $ 69,958

GOODWILL AND OTHER INTANGIBLE37

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Core Deposit Intangible Assets	A summary of core deposit intangible assets as of December 31, 2015 and 2014 is as follows (in thousands): 2015 2014 Gross carrying amount $ 11,674 $ 11,674 Less accumulated amortization (5,946 ) (4,840 ) Net carrying amount $ 5,728 $ 6,834
Schedule of Estimated Amortization Expense	The estimated amortization expense on the core deposit intangible assets for the five succeeding years and thereafter is as follows (in thousands): 2016 $ 1,106 2017 1,106 2018 1,106 2019 1,107 2020 726 Thereafter 577 $ 5,728

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
Summary of Deposits	Deposits consisted of the following (in thousands): December 31, 2015 2014 Noninterest-bearing $ 374,261 $ 390,863 Savings and money market 531,449 473,290 NOW accounts 475,346 469,627 Time deposits less than $250 132,349 166,385 Time deposits $250 or more 37,445 85,069 $ 1,550,850 $ 1,585,234
Schedule of Time Deposits	Time deposits held consist primarily of certificates of deposits. The maturities for these deposits at December 31, 2015 are as follows (in thousands): 2016 $ 127,255 2017 24,363 2018 7,361 2019 3,129 2020 7,684 Thereafter 2 $ 169,794

LONG-TERM FEDERAL HOME LOAN B39

LONG-TERM FEDERAL HOME LOAN BANK ADVANCES (Tables)	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
Scheduled Maturities of Long-term FHLB Advances	The scheduled maturities of long-term FHLB advances at December 31, 2015 are summarized as follows (in thousands): Amount Weighted Average Rate 2016 $ 427 5.057 % 2017 15,403 3.412 % 2019 10,021 1.985 % Total FHLB advances $ 25,851

JUNIOR SUBORDINATED DEBENTURES

JUNIOR SUBORDINATED DEBENTURES (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Description of Junior Subordinated Debentures	A description of the junior subordinated debentures outstanding is as follows (in thousands): December 31, Date Issued Maturity Date Interest Rate Callable After 2015 2014 July 31, 2001 July 9, 2031 3 month LIBOR plus 3.30% July 31, 2006 $ 5,671 $ 5,671 September 20, 2004 September 20, 2034 3 month LIBOR plus 2.50% September 20, 2009 8,248 8,248 October 12, 2006 October 12, 2036 3 month LIBOR plus 1.85% June 26, 2011 5,155 5,155 June 21, 2007 June 21, 2037 3 month LIBOR plus 1.70% June 15, 2012 3,093 3,093 $ 22,167 $ 22,167

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Annual Minimum Rental Payments	At December 31, 2015 , future annual minimum rental payments due under non-cancellable operating leases are as follows (in thousands): 2016 $ 1,910 2017 1,660 2018 1,618 2019 1,624 2020 1,624 Thereafter 7,191 $ 15,627

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities as of December 31, 2015 and 2014 are as follows (in thousands): 2015 2014 Deferred tax assets: Allowance for loan losses $ 7,750 $ 5,593 Alternative minimum tax credit — 388 Other 1,118 1,914 Total deferred tax assets 8,868 7,895 Deferred tax liabilities: Premises and equipment 3,634 4,336 Goodwill 1,446 1,035 FHLB stock dividends 70 65 Unrealized gains on securities 274 1,538 Other 1,272 1,798 Total deferred tax liabilities 6,696 8,772 Net deferred tax asset (liability) $ 2,172 $ (877 )
Components of Income Tax Expense	Components of income tax expense are as follows (in thousands): 2015 2014 2013 Current $ 6,368 $ 8,847 $ 3,323 Deferred (benefit) expense (1,785 ) (1,489 ) 2,828 Total income tax expense $ 4,583 $ 7,358 $ 6,151
Income Tax Reconciliation	The provision for federal income taxes differs from the amount computed by applying the U.S. Federal income tax statutory rate of 35% on pre-tax income as follows (in thousands): December 31, 2015 2014 2013 Taxes calculated at statutory rate $ 5,460 $ 9,264 $ 7,114 Increase (decrease) resulting from: Tax-exempt interest, net (766 ) (923 ) (1,095 ) Executive officer life insurance proceeds — (1,050 ) — Other (111 ) 67 132 $ 4,583 $ 7,358 $ 6,151

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Summary of ESOP Shares	ESOP shares as of December 31, 2015 and 2014 were as follows: 2015 2014 Allocated shares 570,905 554,741 Shares released for allocation 10,130 1,892 Unreleased shares 80,504 14,108 Total ESOP shares 661,539 570,741 Fair value of unreleased shares at December 31 $ 731,000 $ 245,000

EMPLOYEE STOCK PLANS (Tables)

EMPLOYEE STOCK PLANS (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	The following table summarizes activity relating to stock options: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2012 307,845 $ 13.36 Granted 131,280 15.82 Exercised (6,155 ) 11.10 Forfeited or expired (328 ) 20.88 Outstanding at December 31, 2013 432,642 $ 14.13 Granted 17,500 18.99 Exercised (49,560 ) 12.97 Forfeited or expired (42,509 ) 16.24 Outstanding at December 31, 2014 358,073 $ 14.28 Granted 5,000 13.17 Exercised (7,655 ) 12.97 Forfeited or expired (16,042 ) 17.73 Outstanding at December 31, 2015 339,376 $ 14.13 6.98 $ — Exercisable at December 31, 2013 70,457 $ 14.81 Exercisable at December 31, 2014 109,691 13.98 Exercisable at December 31, 2015 162,679 13.81 6.79 $ —
Summary of Changes in Unvested Options	A summary of changes in unvested options for the period ended December 31, 2015 is as follows: Number of Options Weighted Average Grant Date Fair Value Unvested options outstanding, beginning of year 248,382 $ 4.93 Granted 5,000 3.17 Vested (72,685 ) 4.87 Forfeited (4,000 ) 5.59 Unvested options outstanding, end of year 176,697 $ 4.89
Assumptions Made in Estimating the Fair Value of the Options	The following assumptions were made in estimating the fair value of the options granted in 2015 and 2014 : 2015 2014 Risk free rate of interest 1.5 % 1.7 % Expected volatility 37.4 % 39.2 % Dividend yield 2.8 % 1.9 % Average expected life (in years) 5 5 Weighted-average grant-date fair value $ 3.17 $ 5.77
Summary of Activity Relating to Non-Vested Restricted Stock	The following table summarizes activity relating to non-vested restricted stock awards: 2015 Balance at beginning of year — Granted 11,250 Forfeited — Vested — Balance at end of year 11,250

OTHER COMPREHENSIVE (LOSS) IN45

OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Summary of the Tax Effects Allocated to Each Component of Other Comprehensive (Loss) Income	The following is a summary of the tax effects allocated to each component of other comprehensive (loss) income (in thousands): December 31, 2015 2014 2013 Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount Before Tax Amount Tax Effect Net of Tax Amount Other comprehensive (loss) income: Securities available-for-sale: Change in unrealized gain/loss during period $ (2,369 ) $ 829 $ (1,540 ) $ 4,687 $ (1,641 ) $ 3,046 $ (12,481 ) $ 4,368 $ (8,113 ) Reclassification adjustment for net gains included in net income (1,243 ) 435 (808 ) (128 ) 45 (83 ) (234 ) 82 (152 ) Total other comprehensive (loss) income $ (3,612 ) $ 1,264 $ (2,348 ) $ 4,559 $ (1,596 ) $ 2,963 $ (12,715 ) $ 4,450 $ (8,265 )
Reclassification Out of Accumulated Other Comprehensive Income	The reclassifications out of accumulated other comprehensive income into net earnings are presented below (in thousands): December 31, 2015 2014 2013 Details about Accumulated Other Comprehensive Income Components Reclassifications Out of Accumulated Other Comprehensive Income Statement of Earnings Line Item Reclassifications Out of Accumulated Other Comprehensive Income Statement of Earnings Line Item Reclassifications Out of Accumulated Other Comprehensive Income Statement of Earnings Line Item Unrealized gains and losses on securities available-for-sale: $ (1,243 ) Gain on securities, net $ (128 ) Gain on securities, net $ (234 ) Gain on securities, net 435 Income tax expense 45 Income tax expense 82 Income tax expense $ (808 ) Net of tax $ (83 ) Net of tax $ (152 ) Net of tax

NET EARNINGS PER COMMON SHARE (

NET EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Summary of Information used in the Computation of Earnings per Common Share	Following is a summary of the information used in the computation of earnings per common share (in thousands): December 31, 2015 2014 2013 Net earnings available to common stockholders $ 10,330 $ 18,412 $ 12,844 Dividends on Series C preferred stock 367 378 400 Adjusted net earnings available to common stockholders $ 10,697 $ 18,790 $ 13,244 Weighted average number of common shares outstanding used in computation of basic earnings per common share 11,309 11,282 11,247 Effect of dilutive securities: Stock options 5 77 50 Preferred stock 507 542 564 Weighted average number of common shares outstanding plus effect of dilutive securities used in computation of diluted earnings per common share 11,821 11,901 11,861

FINANCIAL INSTRUMENTS WITH OF47

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Tables)	12 Months Ended
	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Schedule of Financial Instruments Whose Contract Amounts Represent Credit Risk	The Bank uses the same credit policies, including considerations of collateral requirements, in making these commitments and conditional obligations as it does for on-balance sheet instruments. Contract or Notional Amount 2015 2014 Financial instruments whose contract amounts represent credit risk: (in thousands) Commitments to extend credit $ 306,587 $ 269,672 Letters of credit 10,084 6,524

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Schedule of Actual Capital Amounts and Ratios	The Company’s and the Bank’s actual capital amounts and ratios are presented in the table below (in thousands): Actual Required for Minimum Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Common equity Tier I capital to risk-weighted assets: Company $ 128,470 8.91 % $ 64,907 4.50 % N/A N/A Bank $ 177,057 12.27 % $ 64,947 4.50 % $ 93,812 6.50 % Total capital to risk-weighted assets: Company $ 209,132 14.50 % $ 115,390 8.00 % N/A N/A Bank $ 195,111 13.52 % $ 115,461 8.00 % $ 144,326 10.00 % Tier I capital to risk-weighted assets: Company $ 191,089 13.25 % $ 86,543 6.00 % N/A N/A Bank $ 177,057 12.27 % $ 86,595 6.00 % $ 115,461 8.00 % Tier I capital to average assets: Company $ 191,089 10.10 % $ 75,689 4.00 % N/A N/A Bank $ 177,057 9.36 % $ 75,683 4.00 % $ 94,603 5.00 % Actual Required for Minimum Capital Adequacy Purposes To be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2014: Total capital to risk-weighted assets: Company $ 190,060 13.73 % $ 110,758 8.00 % N/A N/A Bank $ 179,225 12.94 % $ 110,842 8.00 % $ 138,552 10.00 % Tier I capital to risk-weighted assets: Company $ 178,649 12.90 % $ 55,379 4.00 % N/A N/A Bank $ 167,814 12.11 % $ 55,421 4.00 % $ 83,131 6.00 % Tier I capital to average assets: Company $ 178,649 9.52 % $ 75,029 4.00 % N/A N/A Bank $ 167,814 8.95 % $ 74,994 4.00 % $ 112,492 5.00 %

FAIR VALUE MEASUREMENTS AND D49

FAIR VALUE MEASUREMENTS AND DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Below is a table that presents information about certain assets and liabilities measured at fair value on a recurring basis (in thousands): Assets / Liabilities Measured at Fair Value at December 31, 2015 Fair Value Measurements at December 31, 2015 Description Level 1 Level 2 Level 3 Available-for-sale securities: Obligations of state and political subdivisions $ 31,493 $ — $ 31,493 $ — GSE mortgage-backed securities 87,038 — 87,038 — Collateralized mortgage obligations: residential 192,088 — 192,088 — Collateralized mortgage obligations: commercial 5,448 — 5,448 — Mutual funds 2,092 2,092 — — Assets / Liabilities Measured at Fair Value at December 31, 2014 Fair Value Measurements at December 31, 2014 Description Level 1 Level 2 Level 3 Available-for-sale securities: U.S. Government sponsored enterprises $ 10,227 $ — $ 10,227 $ — Obligations of state and political subdivisions 44,605 — 44,605 — GSE mortgage-backed securities 109,103 — 109,103 — Collateralized mortgage obligations: residential 60,839 — 60,839 — Collateralized mortgage obligations: commercial 24,545 — 24,545 — Other asset-backed securities 24,343 — 24,343 — Collateralized debt obligation 1,218 — 1,218 — Mutual funds 2,104 2,104
Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis	Assets measured at fair value on a nonrecurring basis are as follows (in thousands): Assets / Liabilities Measured at Fair Value at December 31, 2015 Fair Value Measurements at December 31, 2015 Description Level 1 Level 2 Level 3 Impaired loans $ 17,487 $ — $ 17,487 $ — Other real estate 4,187 — 4,187 — Assets / Liabilities Measured at Fair Value at December 31, 2014 Fair Value Measurements at December 31, 2014 Description Level 1 Level 2 Level 3 Impaired loans $ 5,051 $ — $ 5,051 $ — Other real estate 4,234 — 4,234 —
Schedule of Estimated Fair Values of Financial Instruments	The estimated fair values of our financial instruments are as follows at December 31, 2015 and 2014 (in thousands): Fair Value Measurements at December 31, 2015 Using: Carrying Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 89,201 $ 89,201 $ — $ — Securities available-for-sale 318,159 2,092 316,067 — Securities held-to-maturity 116,792 — 117,698 — Other investments 11,188 11,188 — — Loans, net 1,244,634 — 17,487 1,232,497 Cash surrender value of life insurance policies 13,622 — 13,622 — Financial liabilities: Non-interest-bearing deposits 374,261 — 374,261 — Interest-bearing deposits 1,176,589 — 1,007,137 168,633 Securities sold under agreements to repurchase 85,957 85,957 — — Short-term Federal Home Loan Bank advances 25,000 — 25,000 — Long-term Federal Home Loan Bank advances 25,851 — — 26,508 Junior subordinated debentures 22,167 — 22,167 — Fair Value Measurements at December 31, 2014 Using: Carrying Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 86,872 $ 86,872 $ — $ — Securities available-for-sale 276,984 2,104 274,880 — Securities held-to-maturity 141,201 — 141,593 — Other investments 9,990 9,990 — — Loans, net 1,273,205 — 5,051 1,277,882 Cash surrender value of life insurance policies 13,659 — 13,659 — Financial liabilities: Non-interest-bearing deposits 390,863 — 390,863 — Interest-bearing deposits 1,194,371 — 943,255 251,291 Securities sold under agreements to repurchase 62,098 62,098 — — Short-term Federal Home Loan Bank advances 25,000 — 25,000 — Long-term Federal Home Loan Bank advances 26,277 — — 27,193 Junior subordinated debentures 22,167 — 22,167 —

OTHER NON-INTEREST INCOME AND50

OTHER NON-INTEREST INCOME AND EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Components of Other Noninterest Expense	Components of other noninterest expense greater than 1% of interest income and noninterest income consisted of the following for the years ended December 31, 2015 , 2014 , and 2013 (in thousands): 2015 2014 2013 Professional fees $ 1,560 $ 1,802 $ 1,709 FDIC fees 1,513 1,050 1,136 Marketing expenses 1,564 1,658 2,340 Corporate development expense 1,531 1,420 1,507 Data processing 1,888 1,940 1,955 Printing and supplies 923 1,114 1,494 Amortization of intangibles 1,106 1,106 1,106

CONDENSED FINANCIAL INFORMATI51

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Financial Information of Parent Company	Summarized financial information for MidSouth Bancorp, Inc. (parent company only) follows: Balance Sheets December 31, 2015 and 2014 (in thousands) 2015 2014 Assets Cash and interest-bearing deposits in banks $ 14,795 $ 9,452 Securities available-for-sale — 1,218 Other assets 2,117 4,486 Investment in and advances to subsidiaries 220,753 219,216 Total assets $ 237,665 $ 234,372 Liabilities and Stockholders’ Equity Liabilities: Dividends payable $ 1,195 $ 1,208 Junior subordinated debentures 22,167 22,167 ESOP obligation 1,093 250 Other 73 1,735 Total liabilities 24,528 25,360 Stockholders’ equity 213,137 209,012 Total liabilities and stockholders’ equity $ 237,665 $ 234,372 Statements of Earnings For the Years Ended December 31, 2015, 2014, and 2013 (in thousands) 2015 2014 2013 Revenue: Dividends from Bank and nonbank subsidiaries $ 9,000 $ 15,500 $ 11,000 Gain on sale of securities 1,125 — — Rental and other income 57 87 125 10,182 15,587 11,125 Expenses: Interest on short- and long-term debt 613 1,087 1,415 Professional fees 253 217 345 Other expenses 733 844 547 1,599 2,148 2,307 Income before equity in undistributed earnings of subsidiaries and income taxes 8,583 13,439 8,818 Equity in undistributed earnings of subsidiaries 2,317 4,955 4,600 Income tax benefit 117 716 758 Net earnings $ 11,017 $ 19,110 $ 14,176 Statements of Cash Flows For the Years Ended December 31, 2015, 2014, and 2013 (in thousands) 2015 2014 2013 Cash flows from operating activities: Net earnings $ 11,017 $ 19,110 $ 14,176 Adjustments to reconcile net earnings to net cash provided by operating activities: Undistributed earnings of subsidiaries (2,317 ) (4,955 ) (4,600 ) Gain on sale of securities available-for-sale (1,125 ) — — Other, net 528 (872 ) (668 ) Net cash provided by operating activities 8,103 13,283 8,908 Cash flows from investing activities: Purchase of securities available-for-sale — — (464 ) Proceeds from prepayments of securities available-for-sale — 198 — Proceeds from sale of securities available-for-sale 1,392 — — Other, net (83 ) 217 223 Net cash provided by (used in) investing activities 1,309 415 (241 ) Cash flows from financing activities: Proceeds from exercise of stock options 99 643 69 Payment of preferred dividends (689 ) (704 ) (1,519 ) Payment of common dividends (4,086 ) (3,838 ) (3,320 ) Purchase of treasury stock — (9 ) — Repayment of long-term debt — (8,217 ) (1,000 ) Other, net 607 — — Net cash used in financing activities (4,069 ) (12,125 ) (5,770 ) Net change in cash and cash equivalents 5,343 1,573 2,897 Cash and cash equivalents at beginning of year 9,452 7,879 4,982 Cash and cash equivalents at end of year $ 14,795 $ 9,452 $ 7,879

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015USD ($)Grade
Loans [Abstract]
Amount of non-major homogenous loan, maximum | $	$ 250,000
Number of days past due for loan to be placed on nonaccrual status	90 days
Period of repayment performance for nonaccrual loan to be returned to accrual status, lower range limit	6 months
Period of repayment performance for nonaccrual loan to be returned to accrual status, upper range limit	1 year
Credit Risk Rating [Abstract]
Number of risk rating grades | Grade	3
Allowance for Loan Losses [Abstract]
Period of historical loss experience in determining general reserves, minimum	12 months
Period of historical loss experience in determining general reserves, maximum	18 months
Basic and Diluted Earnings Per Common Share [Abstract]
Percentage of issued shares on which small stock dividend is declared, maximum (in hundredths)	25.00%
Statements of Cash Flows [Abstract]
Period over which federal funds are sold	1 day
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Furniture, fixtures, and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Furniture, fixtures, and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years
Automobiles | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Automobiles | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Core deposit intangibles | Straight-line basis
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	15 years
Core deposit intangibles | Accelerated basis
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years

INVESTMENT SECURITIES - Portfol

INVESTMENT SECURITIES - Portfolio of Available-for-Sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Available-for-sale:
Amortized Cost	$ 317,375	$ 272,588
Gross Unrealized Gains	3,389	6,471
Gross Unrealized Losses	2,605	2,075
Fair Value	318,159	276,984
Obligations of state and political subdivisions
Available-for-sale:
Amortized Cost	30,750	43,079
Gross Unrealized Gains	770	1,555
Gross Unrealized Losses	27	29
Fair Value	31,493	44,605
U.S. Government sponsored enterprises
Available-for-sale:
Amortized Cost		10,339
Gross Unrealized Gains		0
Gross Unrealized Losses		112
Fair Value		10,227
GSE mortgage-backed securities
Available-for-sale:
Amortized Cost	84,946	106,208
Gross Unrealized Gains	2,321	3,183
Gross Unrealized Losses	229	288
Fair Value	87,038	109,103
Collateralized mortgage obligations: residential
Available-for-sale:
Amortized Cost	194,067	62,093
Gross Unrealized Gains	297	266
Gross Unrealized Losses	2,276	1,520
Fair Value	192,088	60,839
Collateralized mortgage obligations: commercial
Available-for-sale:
Amortized Cost	5,512	24,462
Gross Unrealized Gains	1	190
Gross Unrealized Losses	65	107
Fair Value	5,448	24,545
Other asset-backed securities
Available-for-sale:
Amortized Cost		24,041
Gross Unrealized Gains		321
Gross Unrealized Losses		19
Fair Value		24,343
Collateralized debt obligation
Available-for-sale:
Amortized Cost		266
Gross Unrealized Gains		952
Gross Unrealized Losses		0
Fair Value		1,218
Mutual funds
Available-for-sale:
Amortized Cost	2,100	2,100
Gross Unrealized Gains	0	4
Gross Unrealized Losses	8	0
Fair Value	$ 2,092	$ 2,104

INVESTMENT SECURITIES - Portf54

INVESTMENT SECURITIES - Portfolio of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Held-to-maturity:
Amortized Cost	$ 116,792	$ 141,201
Gross Unrealized Gains	1,404	1,400
Gross Unrealized Losses	498	1,008
Fair Value	117,698	141,593
Obligations of state and political subdivisions
Held-to-maturity:
Amortized Cost	43,737	45,914
Gross Unrealized Gains	697	267
Gross Unrealized Losses	6	192
Fair Value	44,428	45,989
GSE mortgage-backed securities
Held-to-maturity:
Amortized Cost	55,696	67,268
Gross Unrealized Gains	705	1,080
Gross Unrealized Losses	131	164
Fair Value	56,270	68,184
Collateralized mortgage obligations: residential
Held-to-maturity:
Amortized Cost	10,803	12,709
Gross Unrealized Gains	0	0
Gross Unrealized Losses	361	479
Fair Value	10,442	12,230
Collateralized mortgage obligations: commercial
Held-to-maturity:
Amortized Cost	6,556	15,310
Gross Unrealized Gains	2	53
Gross Unrealized Losses	0	173
Fair Value	$ 6,558	$ 15,190

INVESTMENT SECURITIES - Summary

INVESTMENT SECURITIES - Summary of Amortized Cost and Fair Value - Available-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortized Cost
Due in one year or less	$ 5,670
Due after one year through five years	19,456
Due after five years through ten years	3,929
Due after ten years	1,695
Mortgage-backed securities and collateralized mortgage obligations: Residential	279,013
Mortgage-backed securities and collateralized mortgage obligations: Commercial	5,512
Mutual funds	2,100
Amortized Cost	317,375	$ 272,588
Fair Value
Due in one year or less	5,702
Due after one year through five years	20,002
Due after five years through ten years	4,118
Due after ten years	1,671
Mortgage-backed securities and collateralized mortgage obligations: Residential	279,126
Mortgage-backed securities and collateralized mortgage obligations: Commercial	5,448
Mutual funds	2,092
Fair Value	$ 318,159	$ 276,984

INVESTMENT SECURITIES - Summa56

INVESTMENT SECURITIES - Summary of Amortized Cost and Fair Value - Held-To-Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortized Cost
Due in one year or less	$ 472
Due after one year through five years	3,406
Due after five years through ten years	10,575
Due after ten years	29,284
Mortgage-backed securities and collateralized mortgage obligations: Residential	66,499
Mortgage-backed securities and collateralized mortgage obligations: Commercial	6,556
Amortized Cost	116,792	$ 141,201
Fair Value
Due in one year or less	473
Due after one year through five years	3,431
Due after five years through ten years	10,756
Due after ten years	29,768
Mortgage-backed securities and collateralized mortgage obligations: Residential	66,712
Mortgage-backed securities and collateralized mortgage obligations: Commercial	6,558
Fair Value	$ 117,698	$ 141,593

INVESTMENT SECURITIES - Summa57

INVESTMENT SECURITIES - Summary of Unrealized Losses - Available-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value	$ 165,890	$ 29,437
Securities with losses under 12 months, Gross Unrealized Loss	1,471	158
Securities with losses over 12 months, Fair Value	32,975	68,536
Securities with losses over 12 months, Gross Unrealized Loss	1,134	1,917
Total, Fair Value	198,865	97,973
Total, Gross Unrealized Loss	2,605	2,075
U.S. Government sponsored enterprises
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value		4,973
Securities with losses under 12 months, Gross Unrealized Loss		32
Securities with losses over 12 months, Fair Value		5,254
Securities with losses over 12 months, Gross Unrealized Loss		80
Total, Fair Value		10,227
Total, Gross Unrealized Loss		112
Obligations of state and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value	1,192	2,029
Securities with losses under 12 months, Gross Unrealized Loss	27	29
Securities with losses over 12 months, Fair Value	0	0
Securities with losses over 12 months, Gross Unrealized Loss	0	0
Total, Fair Value	1,192	2,029
Total, Gross Unrealized Loss	27	29
GSE mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value	21,607	6,668
Securities with losses under 12 months, Gross Unrealized Loss	229	25
Securities with losses over 12 months, Fair Value	0	21,538
Securities with losses over 12 months, Gross Unrealized Loss	0	263
Total, Fair Value	21,607	28,206
Total, Gross Unrealized Loss	229	288
Collateralized mortgage obligations: residential
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value	140,999	9,366
Securities with losses under 12 months, Gross Unrealized Loss	1,207	53
Securities with losses over 12 months, Fair Value	30,029	37,997
Securities with losses over 12 months, Gross Unrealized Loss	1,069	1,467
Total, Fair Value	171,028	47,363
Total, Gross Unrealized Loss	2,276	1,520
Collateralized mortgage obligations: commercial
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value	0	0
Securities with losses under 12 months, Gross Unrealized Loss	0	0
Securities with losses over 12 months, Fair Value	2,946	3,747
Securities with losses over 12 months, Gross Unrealized Loss	65	107
Total, Fair Value	2,946	3,747
Total, Gross Unrealized Loss	65	107
Mutual funds
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value	2,092
Securities with losses under 12 months, Gross Unrealized Loss	8
Securities with losses over 12 months, Fair Value	0
Securities with losses over 12 months, Gross Unrealized Loss	0
Total, Fair Value	2,092
Total, Gross Unrealized Loss	$ 8
Other asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Securities with losses under 12 months, Fair Value		6,401
Securities with losses under 12 months, Gross Unrealized Loss		19
Securities with losses over 12 months, Fair Value		0
Securities with losses over 12 months, Gross Unrealized Loss		0
Total, Fair Value		6,401
Total, Gross Unrealized Loss		$ 19

INVESTMENT SECURITIES - Summa58

INVESTMENT SECURITIES - Summary of Unrealized Losses - Held-to-Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Held-to-maturity Securities [Line Items]
Securities with losses under 12 months, Fair Value	$ 541	$ 19,360
Securities with losses under 12 months, Gross Unrealized Loss	1	208
Securities with losses over 12 months, Fair Value	17,968	33,635
Securities with losses over 12 months, Gross Unrealized Loss	497	800
Total, Fair Value	18,509	52,995
Total, Gross Unrealized Loss	498	1,008
Obligations of state and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Securities with losses under 12 months, Fair Value	541	11,761
Securities with losses under 12 months, Gross Unrealized Loss	1	35
Securities with losses over 12 months, Fair Value	505	13,263
Securities with losses over 12 months, Gross Unrealized Loss	5	157
Total, Fair Value	1,046	25,024
Total, Gross Unrealized Loss	6	192
GSE mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Securities with losses under 12 months, Fair Value	0	0
Securities with losses under 12 months, Gross Unrealized Loss	0	0
Securities with losses over 12 months, Fair Value	7,021	8,142
Securities with losses over 12 months, Gross Unrealized Loss	131	164
Total, Fair Value	7,021	8,142
Total, Gross Unrealized Loss	131	164
Collateralized mortgage obligations: residential
Schedule of Held-to-maturity Securities [Line Items]
Securities with losses under 12 months, Fair Value	0	0
Securities with losses under 12 months, Gross Unrealized Loss	0	0
Securities with losses over 12 months, Fair Value	10,442	12,230
Securities with losses over 12 months, Gross Unrealized Loss	361	479
Total, Fair Value	10,442	12,230
Total, Gross Unrealized Loss	$ 361	479
Collateralized mortgage obligations: commercial
Schedule of Held-to-maturity Securities [Line Items]
Securities with losses under 12 months, Fair Value		7,599
Securities with losses under 12 months, Gross Unrealized Loss		173
Securities with losses over 12 months, Fair Value		0
Securities with losses over 12 months, Gross Unrealized Loss		0
Total, Fair Value		7,599
Total, Gross Unrealized Loss		$ 173

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2015USD ($)security	Dec. 31, 2014USD ($)security
Investments, Debt and Equity Securities [Abstract]
Number of private-label collateralized mortgage obligations | security	2	3
Combined balance of private-label collateralized mortgage obligations	$ 27,000	$ 44,000
Number of securities in unrealized loss positions | security	48
Unrealized losses as a percentage of individual securities, amortized cost basis	1.41%
Unrealized losses as percentage of Company's total amortized cost basis	0.71%
Number of securities in an unrealized loss position for more than 12 months | security	16
Amortized cost basis of securities in a continuous loss position	$ 52,600,000
Unrealized loss on securities in a continuous loss position	1,600,000
Impairment related to credit quality	$ 0
Number of available-for-sale securities sold | security	22	4
Available-for-sale securities, gain	$ 1,200,000	$ 128,000
Number of available-for-sale securities sold with gains | security	12
Available-for-sale securities, total gains	$ 1,400,000
Number of available-for-sale securities sold with loss | security	10
Available-for-sale securities sold at a loss	$ 135,000
Securities pledged as collateral for public funding	$ 285,400,000	$ 279,800,000

LOANS - Summary of Loan Portfol

LOANS - Summary of Loan Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Loan portfolio [Abstract]
Total loans	$ 1,263,645	$ 1,284,431
Less allowance for loan losses	(19,011)	(11,226)
Loans, net	1,244,634	1,273,205
Commercial, financial and agricultural
Loan portfolio [Abstract]
Total loans	454,028	467,147
Real estate – construction
Loan portfolio [Abstract]
Total loans	74,952	68,577
Real estate – commercial
Loan portfolio [Abstract]
Total loans	471,141	467,172
Real estate – residential
Loan portfolio [Abstract]
Total loans	149,064	154,602
Installment loans to individuals
Loan portfolio [Abstract]
Total loans	111,009	119,328
Lease financing receivable
Loan portfolio [Abstract]
Total loans	1,968	4,857
Other
Loan portfolio [Abstract]
Total loans	$ 1,483	$ 2,748

LOANS - Activity in the Allowan

LOANS - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan losses:
Beginning balance	$ 11,226	$ 8,779	$ 7,370
Provision for loan losses	13,900	5,625	3,050
Recoveries	459	738	265
Loans charged-off	(6,574)	(3,916)	(1,906)
Ending balance	$ 19,011	$ 11,226	$ 8,779

LOANS - Roll Forward of Activit

LOANS - Roll Forward of Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan losses:
Beginning balance	$ 11,226	$ 8,779	$ 7,370
Charge-offs	(6,574)	(3,916)	(1,906)
Recoveries	459	738	265
Provision	13,900	5,625	3,050
Ending balance	19,011	11,226	8,779
Ending balance: individually evaluated for impairment	2,927	2,164
Ending balance: collectively evaluated for impairment	16,084	9,062
Loans:
Ending balance	1,263,645	1,284,431
Ending balance: individually evaluated for impairment	49,952	10,547
Ending balance: collectively evaluated for impairment	1,212,992	1,273,124
Ending balance: loans acquired with deteriorated credit quality	701	760
Commercial, financial and agricultural
Allowance for loan losses:
Beginning balance	5,729	3,906
Charge-offs	(4,936)	(2,843)
Recoveries	235	164
Provision	10,240	4,502
Ending balance	11,268	5,729	3,906
Ending balance: individually evaluated for impairment	961	1,010
Ending balance: collectively evaluated for impairment	10,307	4,719
Loans:
Ending balance	454,028	467,147
Ending balance: individually evaluated for impairment	27,718	2,656
Ending balance: collectively evaluated for impairment	426,310	464,491
Ending balance: loans acquired with deteriorated credit quality	0	0
Real estate – construction
Allowance for loan losses:
Beginning balance	954	1,046
Charge-offs	(105)	(1)
Recoveries	3	0
Provision	(33)	(91)
Ending balance	819	954	1,046
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	819	954
Loans:
Ending balance	74,952	68,577
Ending balance: individually evaluated for impairment	37	54
Ending balance: collectively evaluated for impairment	74,915	68,523
Ending balance: loans acquired with deteriorated credit quality	0	0
Real estate – commercial
Allowance for loan losses:
Beginning balance	2,402	1,389
Charge-offs	(183)	(93)
Recoveries	26	407
Provision	2,369	699
Ending balance	4,614	2,402	1,389
Ending balance: individually evaluated for impairment	1,585	907
Ending balance: collectively evaluated for impairment	3,029	1,495
Loans:
Ending balance	471,141	467,172
Ending balance: individually evaluated for impairment	19,890	6,388
Ending balance: collectively evaluated for impairment	450,631	460,118
Ending balance: loans acquired with deteriorated credit quality	620	666
Real estate – residential
Allowance for loan losses:
Beginning balance	810	1,141
Charge-offs	(87)	(273)
Recoveries	12	47
Provision	81	(105)
Ending balance	816	810	1,141
Ending balance: individually evaluated for impairment	160	68
Ending balance: collectively evaluated for impairment	656	742
Loans:
Ending balance	149,064	154,602
Ending balance: individually evaluated for impairment	1,903	1,072
Ending balance: collectively evaluated for impairment	147,080	153,436
Ending balance: loans acquired with deteriorated credit quality	81	94
Installment loans to individuals
Allowance for loan losses:
Beginning balance	1,311	1,273
Charge-offs	(1,263)	(706)
Recoveries	183	120
Provision	1,237	624
Ending balance	1,468	1,311	1,273
Ending balance: individually evaluated for impairment	221	179
Ending balance: collectively evaluated for impairment	1,247	1,132
Loans:
Ending balance	111,009	119,328
Ending balance: individually evaluated for impairment	404	377
Ending balance: collectively evaluated for impairment	110,605	118,951
Ending balance: loans acquired with deteriorated credit quality	0	0
Lease financing receivable
Allowance for loan losses:
Beginning balance	16	21
Charge-offs	0	0
Recoveries	0	0
Provision	(2)	(5)
Ending balance	14	16	21
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	14	16
Loans:
Ending balance	1,968	4,857
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	1,968	4,857
Ending balance: loans acquired with deteriorated credit quality	0	0
Other
Allowance for loan losses:
Beginning balance	4	3
Charge-offs	0	0
Recoveries	0	0
Provision	8	1
Ending balance	12	4	$ 3
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	12	4
Loans:
Ending balance	1,483	2,748
Ending balance: individually evaluated for impairment	0	0
Ending balance: collectively evaluated for impairment	1,483	2,748
Ending balance: loans acquired with deteriorated credit quality	$ 0	$ 0

LOANS - Age Analysis of Past Du

LOANS - Age Analysis of Past Due Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	$ 6,399	$ 10,267
60-89 Days Past Due	3,446	1,858
Greater than 90 Days Past Due	47,192	5,954
Total Past Due	57,037	18,079
Current	1,206,608	1,266,352
Total Loans	1,263,645	1,284,431
Recorded Investment > 90 days and Accruing	147	187
Commercial, financial and agricultural
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	1,362	2,179
60-89 Days Past Due	2,317	654
Greater than 90 Days Past Due	25,696	2,556
Total Past Due	29,375	5,389
Current	424,653	461,758
Total Loans	454,028	467,147
Recorded Investment > 90 days and Accruing	59	26
Commercial real estate - construction
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	1,047	15
60-89 Days Past Due	0	0
Greater than 90 Days Past Due	12	105
Total Past Due	1,059	120
Current	55,839	43,390
Total Loans	56,898	43,510
Recorded Investment > 90 days and Accruing	0	97
Commercial real estate - other
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	1,164	4,989
60-89 Days Past Due	514	270
Greater than 90 Days Past Due	19,512	2,464
Total Past Due	21,190	7,723
Current	449,951	459,449
Total Loans	471,141	467,172
Recorded Investment > 90 days and Accruing	0	0
Residential - construction
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	0	431
60-89 Days Past Due	0	0
Greater than 90 Days Past Due	0	0
Total Past Due	0	431
Current	18,054	24,636
Total Loans	18,054	25,067
Recorded Investment > 90 days and Accruing	0	0
Residential - prime
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	1,703	1,843
60-89 Days Past Due	367	523
Greater than 90 Days Past Due	1,563	704
Total Past Due	3,633	3,070
Current	145,431	151,532
Total Loans	149,064	154,602
Recorded Investment > 90 days and Accruing	19	0
Consumer - credit card
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	38	5
60-89 Days Past Due	25	19
Greater than 90 Days Past Due	22	18
Total Past Due	85	42
Current	5,970	5,970
Total Loans	6,055	6,012
Recorded Investment > 90 days and Accruing	22	18
Consumer - other
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	984	671
60-89 Days Past Due	219	392
Greater than 90 Days Past Due	387	107
Total Past Due	1,590	1,170
Current	103,364	112,146
Total Loans	104,954	113,316
Recorded Investment > 90 days and Accruing	47	46
Lease financing receivable
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	0	0
60-89 Days Past Due	0	0
Greater than 90 Days Past Due	0	0
Total Past Due	0	0
Current	1,968	4,857
Total Loans	1,968	4,857
Recorded Investment > 90 days and Accruing	0	0
Other loans
Age Analysis of Past Due Loans by Class of Loans [Abstract]
30-59 Days Past Due	101	134
60-89 Days Past Due	4	0
Greater than 90 Days Past Due	0	0
Total Past Due	105	134
Current	1,378	2,614
Total Loans	1,483	2,748
Recorded Investment > 90 days and Accruing	$ 0	$ 0

LOANS - Schedule of Non-Accrual

LOANS - Schedule of Non-Accrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	$ 50,051	$ 10,701
Commercial, financial and agricultural
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	27,705	2,642
Commercial real estate - construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	37	54
Commercial real estate - other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	19,907	6,429
Residential - construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	0	0
Residential - prime
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	1,998	1,194
Consumer - credit card
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	0	0
Consumer - other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	404	382
Lease financing receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	0	0
Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on Nonaccrual Status	$ 0	$ 0

LOANS - Individually Evaluated

LOANS - Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
With no related allowance recorded:
Recorded Investment	$ 29,851	$ 3,034
Unpaid Principal Balance	30,135	3,117
Average Recorded Investment	16,442	3,103
Interest Income Recognized	859	32
With an allowance recorded:
Recorded Investment	20,101	7,513
Unpaid Principal Balance	21,299	7,661
Related Allowance	2,927	2,164
Average Recorded Investment	13,807	4,533
Interest Income Recognized	314	262
Totals:
Recorded Investment	49,952	10,547
Unpaid Principal Balance	51,434	10,778
Related Allowance	2,927	2,164
Average Recorded Investment	30,249	7,636
Interest Income Recognized	1,173	294
Commercial, financial and agricultural
With no related allowance recorded:
Recorded Investment	22,529	438
Unpaid Principal Balance	22,793	521
Average Recorded Investment	11,484	554
Interest Income Recognized	745	0
With an allowance recorded:
Recorded Investment	5,189	2,218
Unpaid Principal Balance	6,373	2,333
Related Allowance	961	1,010
Average Recorded Investment	3,704	1,394
Interest Income Recognized	138	35
Totals:
Related Allowance	961	1,010
Commercial real estate - construction
With no related allowance recorded:
Recorded Investment	37	54
Unpaid Principal Balance	37	54
Average Recorded Investment	45	58
Interest Income Recognized	0	0
With an allowance recorded:
Recorded Investment		0
Unpaid Principal Balance		0
Related Allowance		0
Average Recorded Investment		19
Interest Income Recognized		0
Totals:
Related Allowance		0
Commercial real estate - other
With no related allowance recorded:
Recorded Investment	5,886	1,921
Unpaid Principal Balance	5,886	1,921
Average Recorded Investment	3,903	1,885
Interest Income Recognized	97	17
With an allowance recorded:
Recorded Investment	14,004	4,467
Unpaid Principal Balance	14,004	4,467
Related Allowance	1,585	907
Average Recorded Investment	9,236	2,416
Interest Income Recognized	161	220
Totals:
Related Allowance	1,585	907
Residential - prime
With no related allowance recorded:
Recorded Investment	1,365	543
Unpaid Principal Balance	1,385	543
Average Recorded Investment	954	534
Interest Income Recognized	17	15
With an allowance recorded:
Recorded Investment	538	529
Unpaid Principal Balance	538	548
Related Allowance	160	68
Average Recorded Investment	533	452
Interest Income Recognized	7	3
Totals:
Related Allowance	160	68
Consumer - other
With no related allowance recorded:
Recorded Investment	34	78
Unpaid Principal Balance	34	78
Average Recorded Investment	56	72
Interest Income Recognized	0	0
With an allowance recorded:
Recorded Investment	370	299
Unpaid Principal Balance	384	313
Related Allowance	221	179
Average Recorded Investment	334	252
Interest Income Recognized	8	4
Totals:
Related Allowance	221	179
Commercial
With an allowance recorded:
Related Allowance	2,546	1,917
Totals:
Recorded Investment	47,645	9,098
Unpaid Principal Balance	49,093	9,296
Related Allowance	2,546	1,917
Average Recorded Investment	28,372	6,326
Interest Income Recognized	1,141	272
Residential
With an allowance recorded:
Related Allowance	160	68
Totals:
Recorded Investment	1,903	1,072
Unpaid Principal Balance	1,923	1,091
Related Allowance	160	68
Average Recorded Investment	1,487	986
Interest Income Recognized	24	18
Consumer
With an allowance recorded:
Related Allowance	221	179
Totals:
Recorded Investment	404	377
Unpaid Principal Balance	418	391
Related Allowance	221	179
Average Recorded Investment	390	324
Interest Income Recognized	$ 8	$ 4

LOANS - Risk Rating (Details)

LOANS - Risk Rating (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 1,263,645	$ 1,284,431
Percentage of Total	100.00%	100.00%
Commercial, financial and agricultural
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 454,028	$ 467,147
Commercial real estate - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	56,898	43,510
Commercial real estate - other
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 471,141	$ 467,172
Commercial
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	100.00%	100.00%
Residential - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 18,054	$ 25,067
Residential - prime
Financing Receivable, Recorded Investment [Line Items]
Loans	149,064	154,602
Residential – subprime
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0
Residential
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	100.00%	100.00%
Consumer - credit card
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 6,055	$ 6,012
Consumer - other
Financing Receivable, Recorded Investment [Line Items]
Loans	104,954	113,316
Lease financing receivable
Financing Receivable, Recorded Investment [Line Items]
Loans	1,968	4,857
Other
Financing Receivable, Recorded Investment [Line Items]
Loans	1,483	2,748
Pass | Commercial, financial and agricultural
Financing Receivable, Recorded Investment [Line Items]
Loans	383,897	456,221
Pass | Commercial real estate - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	56,740	43,320
Pass | Commercial real estate - other
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 412,141	$ 440,281
Pass | Commercial
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	86.84%	96.11%
Pass | Residential - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 18,054	$ 25,067
Pass | Residential - prime
Financing Receivable, Recorded Investment [Line Items]
Loans	144,704	150,664
Pass | Residential – subprime
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0
Pass | Residential
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	97.39%	97.81%
Special mention | Commercial, financial and agricultural
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 32,506	$ 4,861
Special mention | Commercial real estate - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	34	132
Special mention | Commercial real estate - other
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 28,217	$ 7,120
Special mention | Commercial
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	6.18%	1.24%
Special mention | Residential - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0
Special mention | Residential - prime
Financing Receivable, Recorded Investment [Line Items]
Loans	1,225	1,184
Special mention | Residential – subprime
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0
Special mention | Residential
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	0.73%	0.66%
Substandard | Commercial, financial and agricultural
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 37,353	$ 5,541
Substandard | Commercial real estate - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	124	58
Substandard | Commercial real estate - other
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 30,783	$ 19,771
Substandard | Commercial
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	6.95%	2.60%
Substandard | Residential - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0
Substandard | Residential - prime
Financing Receivable, Recorded Investment [Line Items]
Loans	3,135	2,754
Substandard | Residential – subprime
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0
Substandard | Residential
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	1.88%	1.53%
Doubtful | Commercial, financial and agricultural
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 272	$ 524
Doubtful | Commercial real estate - construction
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Doubtful | Commercial real estate - other
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0
Doubtful | Commercial
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	0.03%	0.05%
Performing
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	99.59%	99.65%
Performing | Consumer - credit card
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 6,033	$ 5,995
Performing | Consumer - other
Financing Receivable, Recorded Investment [Line Items]
Loans	104,503	112,893
Performing | Lease financing receivable
Financing Receivable, Recorded Investment [Line Items]
Loans	1,968	4,857
Performing | Other
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 1,483	$ 2,748
Nonperforming
Financing Receivable, Recorded Investment [Line Items]
Percentage of Total	0.41%	0.35%
Nonperforming | Consumer - credit card
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 22	$ 17
Nonperforming | Consumer - other
Financing Receivable, Recorded Investment [Line Items]
Loans	451	423
Nonperforming | Lease financing receivable
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Nonperforming | Other
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 0	$ 0

LOANS - Troubled Debt Restructu

LOANS - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Modifications [Line Items]
Current	$ 16	$ 176
Past Due Greater Than 30 Days	148	0
Nonaccrual TDRs	20,865	234
Total TDRs	21,029	410
Commercial, financial and agricultural
Financing Receivable, Modifications [Line Items]
Current	16	21
Past Due Greater Than 30 Days	0	0
Nonaccrual TDRs	20,865	234
Total TDRs	20,881	255
Real estate – commercial
Financing Receivable, Modifications [Line Items]
Current	0	155
Past Due Greater Than 30 Days	148	0
Nonaccrual TDRs	0	0
Total TDRs	$ 148	$ 155

LOANS - Related Parties (Detail

LOANS - Related Parties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Beginning balance	$ 2,977
New loans	0
Repayments and adjustments	(1,137)
Ending balance	$ 1,840

LOANS - Narrative (Details)

LOANS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)industry_concentrationloan	Dec. 31, 2014USD ($)loan	Dec. 31, 2013USD ($)
Financing Receivable, Recorded Investment, Past Due [Line Items]
Number of industry segment concentration above threshold limit | industry_concentration	1
Concentration risk of the loan portfolio (more than)	10.00%
Loans exposure in oil and gas industry	$ 264,700
Exposure in the oil and gas industry specified as percentage of total loans	20.90%
Loans on nonaccrual status	$ 50,051	$ 10,701
Loans with exposure in commercial real estate	528,000
Interest lost on nonaccrual loans	2,000	594	$ 518
Interest received on nonaccrual loans	$ 47	$ 105	$ 312
Number of loans with a pre-modification balance identified as a TDR | loan	1	1
Pre-modification balance	$ 21,400	$ 1,200
Number of defaults on loans modified as TDRs | loan	1	0
TDR defaulted on modified terms, total	$ 20,600
Real estate – commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	$ 19,900
Percentage of loans on nonaccrual status	3.80%
Loans with exposure in commercial real estate	$ 471,100
Percentage of CRE loans secured by owner occupied commercial properties	54.00%
Oil and gas industry
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans on nonaccrual status	$ 27,400
Percentage of loans on nonaccrual status	10.40%

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 112,474	$ 107,708
Less accumulated depreciation and amortization	(43,369)	(37,750)
Premises and equipment, net	69,105	69,958
Depreciation expense	6,168	6,062	$ 5,568
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	16,253	16,078
Buildings and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	54,126	50,731
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	28,165	27,121
Automobiles
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,787	1,512
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	10,725	10,178
Construction-in-process
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 1,418	$ 2,088

GOODWILL AND OTHER INTANGIBLE71

GOODWILL AND OTHER INTANGIBLE ASSETS - Core Deposits (Details) - Core deposit intangibles - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 11,674	$ 11,674
Less accumulated amortization	(5,946)	(4,840)
Net carrying amount	$ 5,728	$ 6,834

GOODWILL AND OTHER INTANGIBLE72

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Expense (Details) - Core deposit intangibles - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
2,016	$ 1,106
2,017	1,106
2,018	1,106
2,019	1,107
2,020	726
Thereafter	577
Net carrying amount	$ 5,728	$ 6,834

GOODWILL AND OTHER INTANGIBLE73

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 42,171	$ 42,171
Finite-Lived Intangible Assets [Line Items]
Amortization expense	1,106	1,106	$ 1,106
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 1,100	$ 1,100	$ 1,100

DEPOSITS - Summary (Details)

DEPOSITS - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Noninterest-bearing	$ 374,261	$ 390,863
Savings and money market	531,449	473,290
NOW accounts	475,346	469,627
Time deposits less than $250	132,349	166,385
Time deposits $250 or more	37,445	85,069
Total deposits	$ 1,550,850	$ 1,585,234

DEPOSITS - Time Deposits (Detai

DEPOSITS - Time Deposits (Details) $ in Thousands	Dec. 31, 2015USD ($)
Banking and Thrift [Abstract]
2,016	$ 127,255
2,017	24,363
2,018	7,361
2,019	3,129
2,020	7,684
Thereafter	2
Total time deposits	$ 169,794

DEPOSITS - Narrative (Details)

DEPOSITS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Deposits from related parties	$ 9.1	$ 9.6

SECURITIES SOLD UNDER AGREEME77

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Short-term Debt [Line Items]
Securities sold under agreements to repurchase	$ 85,957	$ 62,098
Debt to equity threshold evaluation percentage	30.00%	30.00%	30.00%
Retail repurchase agreements
Short-term Debt [Line Items]
Securities sold under agreements to repurchase	$ 73,500	$ 49,600
Average interest rate of outstanding agreements	0.48%	0.43%
Securities pledged as collateral	$ 75,100	$ 60,900
Repurchase agreement with CitiGroup Global Markets, Inc.
Short-term Debt [Line Items]
Securities sold under agreements to repurchase	12,500
Securities pledged as collateral	$ 17,600	$ 15,700
First term of loan	12 months
Fixed interest rate for remainder of term	4.57%	4.57%

SHORT-TERM FEDERAL HOME LOAN 78

SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)loan	Dec. 31, 2014USD ($)loan
Advances from Federal Home Loan Banks [Abstract]
FHLB short term amount	$ 25,000	$ 25,000
Number of FHLB advances | loan	1	1
Maturity period for the advances from the Federal Home Loan Bank	4 months	87 days
Fixed rate on FHLB advances	0.30%	0.13%
Short-term and long-term FHLB advances are collateralized	$ 268,600	$ 364,400
Additional FHLB advances available	$ 218,500	$ 314,200

LONG-TERM FEDERAL HOME LOAN B79

LONG-TERM FEDERAL HOME LOAN BANK ADVANCES (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amount
2,016	$ 427
2,017	15,403
2,019	10,021
Total FHLB advances	$ 25,851	$ 26,300
Weighted Average Rate
2,016	5.06%
2,017	3.41%
2,019	1.99%

JUNIOR SUBORDINATED DEBENTURE80

JUNIOR SUBORDINATED DEBENTURES (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Junior subordinated debentures		$ 22,167	$ 22,167
Redemption of Statutory Trust I		0	7,217	$ 0
Trust Preferred Securities
Debt Instrument [Line Items]
Junior subordinated debentures		22,167	22,167
Trust Preferred Securities | Date Issued: July 31, 2001
Debt Instrument [Line Items]
Junior subordinated debentures		$ 5,671	5,671
Trust Preferred Securities | Date Issued: July 31, 2001 | LIBOR
Debt Instrument [Line Items]
Interest Rate		3.30%
Trust Preferred Securities | Date Issued: September 20, 2004
Debt Instrument [Line Items]
Junior subordinated debentures		$ 8,248	8,248
Trust Preferred Securities | Date Issued: September 20, 2004 | LIBOR
Debt Instrument [Line Items]
Interest Rate		2.50%
Trust Preferred Securities | Date Issued: October 12, 2006
Debt Instrument [Line Items]
Junior subordinated debentures		$ 5,155	5,155
Trust Preferred Securities | Date Issued: October 12, 2006 | LIBOR
Debt Instrument [Line Items]
Interest Rate		1.85%
Trust Preferred Securities | Date Issued: June 21, 2007
Debt Instrument [Line Items]
Junior subordinated debentures		$ 3,093	$ 3,093
Trust Preferred Securities | Date Issued: June 21, 2007 | LIBOR
Debt Instrument [Line Items]
Interest Rate		1.70%
Trust Preferred Securities | Junior subordinated debentures
Debt Instrument [Line Items]
Fixed interest rate	10.20%
Early extinguishment charge, after tax	$ 168

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Summary (Details) $ in Thousands	Dec. 31, 2015USD ($)
Future annual minimum rental payments due under non-cancellable operating leases [Abstract]
2,016	$ 1,910
2,017	1,660
2,018	1,618
2,019	1,624
2,020	1,624
Thereafter	7,191
Total future annual minimum rental payments	$ 15,627

COMMITMENTS AND CONTINGENCIES82

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Line of Credit Facility [Line Items]
Rental expense under operating leases	$ 2.5	$ 2.5	$ 2.6
Additional FHLB advances available	218.5	$ 314.2
Federal Home Loan Bank advances
Line of Credit Facility [Line Items]
Additional FHLB advances available	218.5
Line of credit
Line of Credit Facility [Line Items]
Amount of federal funds lines of credit available through correspondent banks	53.5
Federal Reserve Bank advances
Line of Credit Facility [Line Items]
Loan collateral pledged	$ 221.6

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Allowance for loan losses	$ 7,750	$ 5,593
Alternative minimum tax credit	0	388
Other	1,118	1,914
Total deferred tax assets	8,868	7,895
Deferred tax liabilities:
Premises and equipment	3,634	4,336
Goodwill	1,446	1,035
FHLB stock dividends	70	65
Unrealized gains on securities	274	1,538
Other	1,272	1,798
Total deferred tax liabilities	6,696	8,772
Net deferred tax asset (liability)	$ 2,172
Net deferred tax asset (liability)		$ 877

INCOME TAXES - Expense (Details

INCOME TAXES - Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current	$ 6,368	$ 8,847	$ 3,323
Deferred tax (benefit) expense	(1,785)	(1,489)	2,828
Total income tax expense	$ 4,583	$ 7,358	$ 6,151

INCOME TAXES - Reconciliation (

INCOME TAXES - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
U.S. Federal income tax statutory rate	35.00%	35.00%	35.00%
Taxes calculated at statutory rate	$ 5,460	$ 9,264	$ 7,114
Increase (decrease) resulting from:
Tax-exempt interest, net	(766)	(923)	(1,095)
Executive officer life insurance proceeds	0	(1,050)	0
Other	(111)	67	132
Total income tax expense	$ 4,583	$ 7,358	$ 6,151

EMPLOYEE BENEFITS - Narrative (

EMPLOYEE BENEFITS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]
ESOP loan	$ 997	$ 283
Number of shares purchased (in shares)	76,526	16,000
Purchase price per share (in dollars per share)	$ 13.02	$ 17.71
Total balance of ESOP loan	$ 1,100	$ 250
ESOP compensation expense	720	720	$ 720
Deferred compensation liability	1,400	1,300
Deferred compensation expense	82	80	74
Defined contribution plan expense	$ 14	7	12
Defined contribution plan participation service period	90 days
Employer contribution to 401(k) retirement plan	$ 60	$ 60	$ 60

EMPLOYEE BENEFITS - Summary of

EMPLOYEE BENEFITS - Summary of ESOP Shares (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Allocated shares	570,905	554,741
Shares released for allocation	10,130	1,892
Unreleased shares	80,504	14,108
Total ESOP shares	661,539	570,741
Fair value of unreleased shares at December 31	$ 731	$ 245

EMPLOYEE STOCK PLANS - Summary

EMPLOYEE STOCK PLANS - Summary of Activity (Details) - Employee stock option - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Options
Outstanding, beginning of period (in shares)	358,073	432,642	307,845
Granted (in shares)	5,000	17,500	131,280
Exercised (in shares)	(7,655)	(49,560)	(6,155)
Forfeited or expired (in shares)	(16,042)	(42,509)	(328)
Outstanding, end of period (in shares)	339,376	358,073	432,642
Exercisable (in shares)	162,679	109,691	70,457
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 14.28	$ 14.13	$ 13.36
Granted (in dollars per share)	13.17	18.99	15.82
Exercised (in dollars per share)	12.97	12.97	11.10
Forfeited or expired (in dollars per share)	17.73	16.24	20.88
Outstanding, end of period (in dollars per share)	14.13	14.28	14.13
Exercisable (in dollars per share)	$ 13.81	$ 13.98	$ 14.81
Weighted Average Remaining Contractual Term
Outstanding	6 years 358 days
Exercisable	6 years 288 days
Aggregate Intrinsic Value
Outstanding	$ 0
Exercisable	$ 0

EMPLOYEE STOCK PLANS - Unvested

EMPLOYEE STOCK PLANS - Unvested Options (Details) - Employee stock option	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Number of Options
Unvested options outstanding, beginning of year (in shares) | shares	248,382
Granted (in shares) | shares	5,000
Vested (in shares) | shares	(72,685)
Forfeited (in shares) | shares	(4,000)
Unvested options outstanding, end of year (in shares) | shares	176,697
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested options outstanding, beginning of year (in dollars per share) | $ / shares	$ 4.93
Granted (in dollars per share) | $ / shares	3.17
Vested (in dollars per share) | $ / shares	4.87
Forfeited (in dollars per share) | $ / shares	5.59
Unvested options outstanding, end of year (in dollars per share) | $ / shares	$ 4.89

EMPLOYEE STOCK PLANS - Weighted

EMPLOYEE STOCK PLANS - Weighted Average Assumptions (Details) - Employee stock option - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free rate of interest	1.50%	1.70%
Expected volatility	37.40%	39.20%
Dividend yield	2.80%	1.90%
Average expected life (in years)	5 years	5 years
Weighted-average grant-date fair value	$ 3.17	$ 5.77

EMPLOYEE STOCK PLANS - Restrict

EMPLOYEE STOCK PLANS - Restricted Stock Awards (Details) - Omnibus Incentive Compensation Plan 2007 - Restricted stock - shares	Aug. 17, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested options outstanding, beginning of year (in shares)		0
Granted (in shares)	11,250	11,250
Unvested options outstanding, end of year (in shares)		11,250

EMPLOYEE STOCK PLANS - Narrativ

EMPLOYEE STOCK PLANS - Narrative (Details) - USD ($)	Aug. 17, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2007
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		339,376	358,073	432,642	307,845
Vesting period		10 years
Options vesting on an annual basis, 20% of group per year (in shares)		296,874
Annual vesting percentage, vesting group 20% per year		20.00%
Options vesting on an annual basis, 16.67% of group per year (in shares)		42,502
Annual vesting percentage, vesting group 16.67% per year		16.67%
Unrecognized compensation cost related to non-vested share-based compensation arrangements		$ 682,000
Share-based compensation expense		336,000	$ 442,000	$ 308,000
Intrinsic value of the options exercised		$ 10,000	217,000	41,000
Shares granted (in shares)		5,000
Shares granted (in dollars per share)		$ 3.17
Omnibus Incentive Compensation Plan 2007
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares outstanding reserved for issuance under the plan (in shares)						525,000
Shares available for grant (in shares)		99,226
Omnibus Incentive Compensation Plan 2007 | Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		339,376
Omnibus Incentive Compensation Plan 2007 | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Share-based compensation expense		$ 19,000	$ 0	$ 21,000
Shares granted (in shares)	11,250	11,250
Shares granted (in dollars per share)	$ 13.92
Unrecognized compensation cost		$ 137,000

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)	Feb. 25, 2016	Dec. 28, 2012	Jan. 09, 2009	Aug. 31, 2011	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2009
Class of Stock [Line Items]
Funds available to pay dividends to the Parent Company without regulatory approval							$ 11,900,000
Series A preferred stock
Class of Stock [Line Items]
Stock issued during period (in shares)			20,000
Proceeds from issuance of preferred stock			$ 20,000,000
Dividend rate on preferred stock								5.00%
Number of securities called by warrants (in shares)			208,768					104,384
Exercise price of warrants (in dollars per share)			$ 14.37
Dividend rate increase required if funding not repaid, term				4 years 6 months
Stock redeemed during the period (in shares)				20,000
Stated value (in dollars per share)				$ 1,000
Series B preferred stock
Class of Stock [Line Items]
Stock issued during period (in shares)				32,000
Dividend rate on preferred stock					1.00%
Proceeds from issuance of preferred stock used for additional capital				$ 12,000,000
Target growth rate in qualified small business loans						10.00%
Series B preferred stock | Subsequent event
Class of Stock [Line Items]
Dividend rate on preferred stock	9.00%
Common stock
Class of Stock [Line Items]
Stock issued during period (in shares)		756,511
Series C Preferred Stock
Class of Stock [Line Items]
Stock issued during period (in shares)		99,971
Dividend rate on preferred stock							4.00%
Conversion price (in dollars per share)							$ 18
Company right period to require conversion in trading days							20 days
Company right period to require conversion in consecutive days							30 days
Company right to require conversion above conversion price							130.00%

OTHER COMPREHENSIVE (LOSS) IN94

OTHER COMPREHENSIVE (LOSS) INCOME - Summary of the Tax Effects (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other comprehensive income (loss): Securities available-for-sale: Before Tax Amount
Change in unrealized gain/loss during period	$ (2,369)	$ 4,687	$ (12,481)
Reclassification adjustment for net gains included in net income	(1,243)	(128)	(234)
Total other comprehensive (loss) income, before tax	(3,612)	4,559	(12,715)
Other comprehensive income (loss): Securities available-for-sale: Tax Effect
Change in unrealized gain/loss during period	829	(1,641)	4,368
Reclassification adjustment for net gains included in net income	435	45	82
Total other comprehensive (loss) income	1,264	(1,596)	4,450
Other comprehensive income (loss): Securities available-for-sale: Net of Tax Amount
Change in unrealized gain/loss during period	(1,540)	3,046	(8,113)
Reclassification adjustment for net gains included in net income	(808)	(83)	(152)
Total other comprehensive (loss) income, net of tax	$ (2,348)	$ 2,963	$ (8,265)

OTHER COMPREHENSIVE (LOSS) IN95

OTHER COMPREHENSIVE (LOSS) INCOME - Reclassifications (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustment for net gains included in net income	$ (1,243)	$ (128)	$ (234)
Income tax expense	435	45	82
Reclassifications Out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustment for net gains included in net income	(1,243)	(128)	(234)
Income tax expense	435	45	82
Net earnings	$ (808)	$ (83)	$ (152)

NET EARNINGS PER COMMON SHARE96

NET EARNINGS PER COMMON SHARE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Net earnings available to common stockholders	$ 10,330	$ 18,412	$ 12,844
Dividends on Series C preferred stock	367	378	400
Adjusted net earnings available to common stockholders	$ 10,697	$ 18,790	$ 13,244
Weighted average number of common shares outstanding used in computation of basic earnings per common share (in shares)	11,309,000	11,282,000	11,247,000
Effect of dilutive securities:
Stock options (in shares)	5,000	77,000	50,000
Preferred stock (in shares)	507,000	542,000	564,000
Weighted average number of common shares outstanding plus effect of dilutive securities used in computation of diluted earnings per common share	11,821,000	11,901,000	11,861,000
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computing diluted earnings per share (in shares)	220,596	24,855	134,611
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computing diluted earnings per share (in shares)	11,250
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computing diluted earnings per share (in shares)	104,384

FINANCIAL INSTRUMENTS WITH OF97

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Commitments to extend credit
Financial instruments whose contract amounts represent credit risk
Contract or Notional Amount	$ 306,587	$ 269,672
Letters of credit
Financial instruments whose contract amounts represent credit risk
Contract or Notional Amount	$ 10,084	$ 6,524
Letters of credit secured by marketable securities	91.00%	83.00%

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Actual
Common equity Tier I capital to risk-weighted assets, Amount	$ 128,470,000
Total capital to risk-weighted assets, Amount	209,132,000	$ 190,060,000
Tier I capital to risk-weighted assets, Amount	191,089,000	178,649,000
Tier I capital to average assets, Amount	$ 191,089,000	$ 178,649,000
Common equity Tier I capital to risk-weighted assets, Amount	8.91%
Total capital to risk-weighted assets, Ratio	14.50%	13.73%
Tier I capital to risk-weighted assets, Ratio	13.25%	12.90%
Tier I capital to average assets, Ratio	10.10%	9.52%
Required for Minimum Capital Adequacy Purposes
Common equity Tier I capital to risk-weighted assets, Amount	$ 64,907,000
Total capital to risk-weighted assets, Amount	115,390,000	$ 110,758,000
Tier I capital to risk-weighted assets, Amount	86,543,000	55,379,000
Tier I capital to average assets, Amount	$ 75,689,000	$ 75,029,000
Common equity Tier I capital to risk-weighted assets, Ratio	4.50%
Total capital to risk-weighted assets, Ratio	8.00%	8.00%
Tier I capital to risk-weighted assets, Ratio	6.00%	4.00%
Tier I capital to average assets, Ratio	4.00%	4.00%
To be Well Capitalized Under Prompt Corrective Action Provisions
Risk based capital requirement, Consolidated assets minimum	$ 500,000,000
Bank
Actual
Common equity Tier I capital to risk-weighted assets, Amount	177,057,000
Total capital to risk-weighted assets, Amount	195,111,000	$ 179,225,000
Tier I capital to risk-weighted assets, Amount	177,057,000	167,814,000
Tier I capital to average assets, Amount	$ 177,057,000	$ 167,814,000
Common equity Tier I capital to risk-weighted assets, Amount	12.27%
Total capital to risk-weighted assets, Ratio	13.52%	12.94%
Tier I capital to risk-weighted assets, Ratio	12.27%	12.11%
Tier I capital to average assets, Ratio	9.36%	8.95%
Required for Minimum Capital Adequacy Purposes
Common equity Tier I capital to risk-weighted assets, Amount	$ 64,947,000
Total capital to risk-weighted assets, Amount	115,461,000	$ 110,842,000
Tier I capital to risk-weighted assets, Amount	86,595,000	55,421,000
Tier I capital to average assets, Amount	$ 75,683,000	$ 74,994,000
Common equity Tier I capital to risk-weighted assets, Ratio	4.50%
Total capital to risk-weighted assets, Ratio	8.00%	8.00%
Tier I capital to risk-weighted assets, Ratio	6.00%	4.00%
Tier I capital to average assets, Ratio	4.00%	4.00%
To be Well Capitalized Under Prompt Corrective Action Provisions
Common equity Tier I capital to risk-weighted assets, Amount	$ 93,812,000
Total capital to risk-weighted assets, Amount	144,326,000	$ 138,552,000
Tier I capital to risk-weighted assets, Amount	115,461,000	83,131,000
Tier I capital to average assets, Amount	$ 94,603,000	$ 112,492,000
Common equity Tier I capital to risk-weighted assets, Ratio	6.50%
Total capital to risk-weighted assets, Ratio	10.00%	10.00%
Tier I capital to risk-weighted assets, Ratio	8.00%	6.00%
Tier I capital to average assets, Ratio	5.00%	5.00%

FAIR VALUE MEASUREMENTS AND D99

FAIR VALUE MEASUREMENTS AND DISCLOSURES - On a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Recurring
Available-for-sale securities:
U.S. Government sponsored enterprises		$ 10,227
Obligations of state and political subdivisions	$ 31,493	44,605
GSE mortgage-backed securities	87,038	109,103
Collateralized mortgage obligations: residential	192,088	60,839
Collateralized mortgage obligations: commercial	5,448	24,545
Other asset-backed securities		24,343
Collateralized debt obligation		1,218
Mutual funds	2,092	2,104
Recurring | Level 1
Available-for-sale securities:
U.S. Government sponsored enterprises		0
Obligations of state and political subdivisions	0	0
GSE mortgage-backed securities	0	0
Collateralized mortgage obligations: residential	0	0
Collateralized mortgage obligations: commercial	0	0
Other asset-backed securities		0
Collateralized debt obligation		0
Mutual funds	2,092	2,104
Recurring | Level 2
Available-for-sale securities:
U.S. Government sponsored enterprises		10,227
Obligations of state and political subdivisions	31,493	44,605
GSE mortgage-backed securities	87,038	109,103
Collateralized mortgage obligations: residential	192,088	60,839
Collateralized mortgage obligations: commercial	5,448	24,545
Other asset-backed securities		24,343
Collateralized debt obligation		1,218
Mutual funds	0
Recurring | Level 3
Available-for-sale securities:
U.S. Government sponsored enterprises		0
Obligations of state and political subdivisions	0	0
GSE mortgage-backed securities	0	0
Collateralized mortgage obligations: residential	0	0
Collateralized mortgage obligations: commercial	0	0
Other asset-backed securities		0
Collateralized debt obligation		0
Mutual funds	0
Nonrecurring
Assets and Liabilities Measured on a Nonrecurring Basis [Abstract]
Impaired loans	17,487	5,051
Other real estate	4,187	4,234
Nonrecurring | Level 1
Assets and Liabilities Measured on a Nonrecurring Basis [Abstract]
Impaired loans	0	0
Other real estate	0	0
Nonrecurring | Level 2
Assets and Liabilities Measured on a Nonrecurring Basis [Abstract]
Impaired loans	17,487	5,051
Other real estate	4,187	4,234
Nonrecurring | Level 3
Assets and Liabilities Measured on a Nonrecurring Basis [Abstract]
Impaired loans	0	0
Other real estate	$ 0	$ 0

FAIR VALUE MEASUREMENTS AND 100

FAIR VALUE MEASUREMENTS AND DISCLOSURES - By Balance Sheet Grouping and Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discounts for selling costs	6.00%
Discount for taxes, insurance and maintenance costs	4.00%
Financial assets:
Fair Value	$ 318,159	$ 276,984
Securities held-to-maturity	117,698	141,593
Carrying Value
Financial assets:
Cash and cash equivalents	89,201	86,872
Fair Value	318,159	276,984
Securities held-to-maturity	116,792	141,201
Other investments	11,188	9,990
Loans, net	1,244,634	1,273,205
Cash surrender value of life insurance policies	13,622	13,659
Financial liabilities:
Non-interest-bearing deposits	374,261	390,863
Interest-bearing deposits	1,176,589	1,194,371
Securities sold under agreements to repurchase	85,957	62,098
Short-term Federal Home Loan Bank advances	25,000	25,000
Long-term Federal Home Loan Bank advances	25,851	26,277
Junior subordinated debentures	22,167	22,167
Fair Value | Level 1
Financial assets:
Cash and cash equivalents	89,201	86,872
Fair Value	2,092	2,104
Securities held-to-maturity	0	0
Other investments	11,188	9,990
Loans, net	0	0
Cash surrender value of life insurance policies	0	0
Financial liabilities:
Non-interest-bearing deposits	0	0
Interest-bearing deposits	0	0
Securities sold under agreements to repurchase	85,957	62,098
Short-term Federal Home Loan Bank advances	0	0
Long-term Federal Home Loan Bank advances	0	0
Junior subordinated debentures	0	0
Fair Value | Level 2
Financial assets:
Cash and cash equivalents	0	0
Fair Value	316,067	274,880
Securities held-to-maturity	117,698	141,593
Other investments	0	0
Loans, net	17,487	5,051
Cash surrender value of life insurance policies	13,622	13,659
Financial liabilities:
Non-interest-bearing deposits	374,261	390,863
Interest-bearing deposits	1,007,137	943,255
Securities sold under agreements to repurchase	0	0
Short-term Federal Home Loan Bank advances	25,000	25,000
Long-term Federal Home Loan Bank advances	0	0
Junior subordinated debentures	22,167	22,167
Fair Value | Level 3
Financial assets:
Cash and cash equivalents	0	0
Fair Value	0	0
Securities held-to-maturity	0	0
Other investments	0	0
Loans, net	1,232,497	1,277,882
Cash surrender value of life insurance policies	0	0
Financial liabilities:
Non-interest-bearing deposits	0	0
Interest-bearing deposits	168,633	251,291
Securities sold under agreements to repurchase	0	0
Short-term Federal Home Loan Bank advances	0	0
Long-term Federal Home Loan Bank advances	26,508	27,193
Junior subordinated debentures	$ 0	$ 0
Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Period when new appraisals are received	28 days
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Period when new appraisals are received	42 days

OTHER NON-INTEREST INCOME AN101

OTHER NON-INTEREST INCOME AND EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Income and Expenses [Abstract]
Threshold for analysis of noninterest income	1.00%
Threshold for analysis of noninterest expense	1.00%
Professional fees	$ 1,560	$ 1,802	$ 1,709
FDIC fees	1,513	1,050	1,136
Marketing expenses	1,564	1,658	2,340
Corporate development expense	1,531	1,420	1,507
Data processing	1,888	1,940	1,955
Printing and supplies	923	1,114	1,494
Amortization of intangibles	$ 1,106	$ 1,106	$ 1,106

CONDENSED FINANCIAL INFORMAT102

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets
Cash and interest-bearing deposits in banks	$ 37,170	$ 45,142
Securities available-for-sale	318,159	276,984
Other assets	6,352	4,997
Total assets	1,927,733	1,936,740
Liabilities:
Junior subordinated debentures	22,167	22,167
Other	4,771	6,952
Total liabilities	1,714,596	1,727,728
Stockholders’ equity	213,137	209,012	$ 190,749	$ 189,241
Total liabilities and stockholders’ equity	1,927,733	1,936,740
Expenses:
Professional fees	1,560	1,802	1,709
Income before income taxes	15,600	26,468	20,327
Income tax benefit	(4,583)	(7,358)	(6,151)
Net earnings	11,017	19,110	14,176
Cash flows from operating activities:
Net earnings	11,017	19,110	14,176
Adjustments to reconcile net earnings to net cash provided by operating activities:
Net cash provided by operating activities	29,185	29,758	25,884
Cash flows from investing activities:
Purchases of securities available-for-sale	(156,449)	(1,250)	(68,043)
Proceeds from maturities and calls of securities available-for-sale	70,934	48,464	72,728
Proceeds from sale of securities available-for-sale	40,277	22,153	55,879
Net cash used in investing activities	(12,297)	(65,313)	(38,931)
Cash flows from financing activities:
Proceeds from exercise of stock options	99	643	69
Payment of dividends on preferred stock	(689)	(704)	(1,519)
Payment of dividends on common stock	(4,086)	(3,838)	(3,320)
Purchase of treasury stock	0	(9)	0
Repayments of notes payable	0	(1,000)	(1,000)
Net cash used in financing activities	(14,559)	62,696	(795)
Net increase (decrease) in cash and cash equivalents	2,329	27,141	(13,842)
Cash and cash equivalents, beginning of year	86,872	59,731	73,573
Cash and cash equivalents, end of year	89,201	86,872	59,731
Parent Company
Assets
Cash and interest-bearing deposits in banks	14,795	9,452
Securities available-for-sale	0	1,218
Other assets	2,117	4,486
Investment in and advances to subsidiaries	220,753	219,216
Total assets	237,665	234,372
Liabilities:
Dividends payable	1,195	1,208
Junior subordinated debentures	22,167	22,167
ESOP obligation	1,093	250
Other	73	1,735
Total liabilities	24,528	25,360
Stockholders’ equity	213,137	209,012
Total liabilities and stockholders’ equity	237,665	234,372
Revenue:
Dividends from Bank and nonbank subsidiaries	9,000	15,500	11,000
Gain on sale of securities	1,125	0	0
Rental and other income	57	87	125
Total revenue	10,182	15,587	11,125
Expenses:
Interest on short- and long-term debt	613	1,087	1,415
Professional fees	253	217	345
Other expenses	733	844	547
Total expenses	1,599	2,148	2,307
Income before income taxes	8,583	13,439	8,818
Equity in undistributed earnings of subsidiaries	2,317	4,955	4,600
Income tax benefit	117	716	758
Net earnings	11,017	19,110	14,176
Cash flows from operating activities:
Net earnings	11,017	19,110	14,176
Adjustments to reconcile net earnings to net cash provided by operating activities:
Undistributed earnings of subsidiaries	(2,317)	(4,955)	(4,600)
Gain on sale of securities available-for-sale	(1,125)	0	0
Other, net	528	(872)	(668)
Net cash provided by operating activities	8,103	13,283	8,908
Cash flows from investing activities:
Purchases of securities available-for-sale	0	0	(464)
Proceeds from maturities and calls of securities available-for-sale	0	198	0
Proceeds from sale of securities available-for-sale	1,392	0	0
Other, net	(83)	217	223
Net cash used in investing activities	1,309	415	(241)
Cash flows from financing activities:
Proceeds from exercise of stock options	99	643	69
Payment of dividends on preferred stock	(689)	(704)	(1,519)
Payment of dividends on common stock	(4,086)	(3,838)	(3,320)
Purchase of treasury stock	0	(9)	0
Repayments of notes payable	0	(8,217)	(1,000)
Other, net	607	0	0
Net cash used in financing activities	(4,069)	(12,125)	(5,770)
Net increase (decrease) in cash and cash equivalents	5,343	1,573	2,897
Cash and cash equivalents, beginning of year	9,452	7,879	4,982
Cash and cash equivalents, end of year	$ 14,795	$ 9,452	$ 7,879