Condensed financial information of the parent company only is presented in the following two tables:



Balance Sheets	December 31,
	2015			2014
	(Amounts in thousands)
Assets:
Cash	$	1,540		$	138
Investments in subsidiaries	124,599			116,378
Other assets	5			56
Total assets	$	126,144		$	116,572
Liabilities and Equity:
Subordinated debentures	$	13,403		$	13,403
Other liabilities	700			264
Equity	112,041			102,905
Total liabilities and equity	$	126,144		$	116,572

Statements of Income	Years ended December 31,
	2015			2014
	(Amounts in thousands)
Income:
Dividends from bank subsidiary	$	2,657		$	1,180
Other income	—			—
Total income	2,657			1,180
Expense:
Interest on subordinated debentures	259			251
Salary	160			80
Other expenses	101			51
Total expenses	520			382
Income before income taxes	2,137			798
Equity in undistributed income of subsidiaries	8,560			9,675
Net income	10,697			10,473
Discount on Series A preferred stock	—			—
Preferred stock dividend and discount accretion	(1,200		)	(1,200		)
Net income available to common shareholders	$	9,497		$	9,273



Statements of Cash Flows
	Years ended December 31,
	2015			2014
	(Amounts in thousands)
Cash Flows from Operating Activities
Net income	$	10,697		$	10,473
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(8,560		)	(9,675		)
Changes in operating assets and liabilities:
Decrease in other assets	(51		)	—
Increase (decrease) in accrued interest payable and other accrued liabilities	436			(30		)
Net cash provided by operating activities	2,522			768
Cash Flows from Investing Activities
Net cash used in investing activities	—			—
Cash Flows from Financing Activities
Purchase of treasury stock	(831		)	—
Redemption of Series A preferred stock	—			(250		)
Proceeds from exercise of stock options	2,749			114
Payment of dividend on preferred stock and common stock	(2,661		)	(1,575		)
Other, net	(377		)	(16		)
Net cash used in financing activities	(1,120		)	(1,727		)
Increase/(decrease) in cash and cash equivalents	1,402			(959		)
Cash and Cash Equivalents, January 1,	138			1,097
Cash and Cash Equivalents, December 31,	$	1,540		$	138