Condensed Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2013

Financial Information Parent Company Only

Condensed Financial Information (Parent Company Only)

Note 21: Condensed Financial Information (Parent Company Only)

Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company at December 31, 2013 and 2012:

Condensed Balance Sheets

	2013			2012
	(In thousands)
Assets
Cash and due from banks	$	1,064		$	1,113
Notes receivable from the Bank		607			688
Investment in the Bank		36,913			37,987
Prepaid expenses and other assets		228			219
Total assets	$	38,812		$	40,007
Liabilities and Stockholders’ Equity
Accrued expenses and other liabilities	$	260		$	222
Stockholders’ equity
Common stock and additional paid-in capital		36,374			36,373
Retained earnings		18,743			17,567
Shares acquired by ESOP		(492	)		(572	)
Treasury stock – at cost		(16,138	)		(14,923	)
Accumulated other comprehensive income		65			1,340
Total stockholders’ equity		38,552			39,785
Total liabilities and stockholders’ equity	$	38,812		$	40,007

Condensed Statements of Income and Comprehensive Income

	2013			2012
	(In thousands)
Operating Income
Interest income	$	41		$	46
Dividends from the Bank		2,138			2,401
Total operating income		2,179			2,447
Noninterest Expense		323			256
Earnings before Federal Income Tax Benefits      and equity in undistributed      income of the Bank		1,856			2,191
Federal Income Tax Benefits		(96	)		(68	)
Income before equity in undistributed      income of the Bank		1,952			2,259
Equity in undistributed (excess distributed)      income of the Bank		104			(537	)
Net Income	$	2,056		$	1,722
Total Comprehensive income	$	781		$	1,181

Condensed Statements of Cash Flows

	2013			2012
	(In thousands)
Operating Activities
Net income	$	2,056		$	1,722
Items not requiring (providing) cash
Equity in (undistributed) excess distributed net income of the Bank		(104	)		537
Increase (decrease) in cash due to changes in:
Prepaid expenses and other assets		(25	)		(251	)
Accrued expenses and other liabilities		38			26
Net cash provided by operating activities		1,965			2,034
Investing Activities
Repayment of ESOP loan		81			82
Net cash provided by investing activities		81			82
Financing Activities
Payment of dividends on common stock		(880	)		(760	)
Purchase of treasury stock		(1,215	)		(393	)
Net cash used in financing activities		(2,095	)		(1,153	)
Net Change in Cash and Cash Equivalents		(49	)		963
Cash and Cash Equivalents at Beginning of Period		1,113			150
Cash and Cash Equivalents at End of Period	$	1,064		$	1,113