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Parent Corporation Only Statements
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Parent Corporation Only Statements
Parent Corporation Only Statements

ACCESS NATIONAL CORPORATION
(Parent Corporation Only)
Balance Sheets

 
 
Year Ended December 31,
 
 
2017
 
2016
 
 
(In Thousands)
Assets
 
 

 
 

Cash
 
$
10,949

 
$
11,339

Investment in subsidiaries
 
410,981

 
109,825

Other assets
 
1,792

 
585

Total assets
 
$
423,722

 
$
121,749

Liabilities
 
 

 
 

Other liabilities
 
$
2,098

 
$
1,219

Total liabilities
 
2,098

 
1,219

Shareholders' Equity
 
 

 
 

Common stock
 
17,146

 
8,881

Capital surplus
 
307,614

 
21,779

Retained earnings
 
98,584

 
91,439

Accumulated other comprehensive loss
 
(1,720
)
 
(1,569
)
Total shareholders' equity
 
421,624

 
120,530

Total liabilities and shareholders' equity
 
$
423,722

 
$
121,749



ACCESS NATIONAL CORPORATION
(Parent Corporation Only)
Statements of Income

 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
 
 
(In Thousands)
Income
 
 

 
 

 
 

Dividends from subsidiaries
 
$
4,500

 
$
8,000

 
$
8,625

Interest
 
25

 
20

 
15

Other
 
222

 
134

 
113

 
 
4,747

 
8,154

 
8,753

Expenses
 
 

 
 

 
 

Other expenses
 
7,981

 
3,079

 
1,660

Total expenses
 
7,981

 
3,079

 
1,660

Income (loss) before income taxes and undistributed income of subsidiaries
 
(3,234
)
 
5,075

 
7,093

Income tax benefit
 
(2,242
)
 
(588
)
 
(467
)
Income (loss) before undistributed income of subsidiaries
 
(992
)
 
5,663

 
7,560

Undistributed income of subsidiaries
 
17,492

 
10,741

 
7,859

Net income
 
$
16,500

 
$
16,404

 
$
15,419



ACCESS NATIONAL CORPORATION
(Parent Corporation Only)
Statements of Comprehensive Income
(In Thousands)

 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Net income
 
$
16,500

 
$
16,404

 
$
15,419

Other comprehensive income:
 
 

 
 

 
 

Unrealized gains (losses) on securities
 
 

 
 

 
 

Unrealized holding gains (losses) arising during period
 
(417
)
 
(816
)
 
(528
)
Less: reclassification adjustment for gains included in net income
 
—

 
(52
)
 
(188
)
Unrealized gains on interest rate swaps
 
64

 
—

 
—

Tax effect
 
146

 
304

 
255

Net of tax amount
 
(207
)
 
(564
)
 
(461
)
Comprehensive income
 
$
16,293

 
$
15,840

 
$
14,958



ACCESS NATIONAL CORPORATION
(Parent Corporation Only)
Statements of Cash Flows

 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
 
 
(In Thousands)
Cash Flows from Operating Activities
 
 

 
 

 
 

Net income
 
$
16,500

 
$
16,404

 
$
15,419

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 

 
 

 
 

Undistributed income of subsidiaries
 
(17,492
)
 
(10,741
)
 
(7,859
)
(Increase) decrease in other assets
 
(990
)
 
3

 
12

Increase (decrease) in other liabilities
 
1,418

 
51

 
(75
)
Stock-based compensation
 
495

 
335

 
332

Net cash provided by (used in) operating activities
 
(69
)
 
6,052

 
7,829

Cash Flows from Investing Activities
 
 

 
 

 
 

Payments for investments in and advances to subsidiaries
 
146

 
(127
)
 
(592
)
Cash acquired in business combination
 
3

 
—

 
—

Cash paid in business combination
 
(608
)
 
—

 
—

Sale or repayment of investments in and advances to subsidiaries
 
1,167

 
728

 
968

Net cash provided by investing activities
 
708

 
601

 
376

Cash Flows from Financing Activities
 
 

 
 

 
 

Net proceeds from issuance of common stock
 
8,326

 
1,567

 
1,145

Dividends paid
 
(9,355
)
 
(6,350
)
 
(9,866
)
Net cash provided by (used in) financing activities
 
(1,029
)
 
(4,783
)
 
(8,721
)
Increase (decrease) in cash and cash equivalents
 
(390
)
 
1,870

 
(516
)
Cash and Cash Equivalents
 
 

 
 

 
 

Beginning
 
11,339

 
9,469

 
9,985

Ending
 
$
10,949

 
$
11,339

 
$
9,469