CONDENSED PARENT ONLY DATA

12 Months Ended

Dec. 31, 2014

CONDENSED PARENT ONLY DATA [Abstract]

CONDENSED PARENT ONLY DATA

NOTE T – CONDENSED PARENT ONLY DATA

Condensed Balance Sheets (Parent Company Only)    

(DOLLARS IN THOUSANDS)

	December 31,
	2014			2013
		$			$
Assets
Cash		702			315
Securities available for sale (at fair value)		208			171
Equity in bank subsidiary		91,786			83,222
Other assets		71			68
Total assets		92,767			83,776
Stockholders' Equity
Capital stock		574			574
Capital surplus		4,375			4,353
Retained earnings		87,200			83,165
Unrealized gain (loss) on AFS securities		1,002			(3,940	)
Treasury stock		(384	)		(376	)
Total stockholders' equity		92,767			83,776

Condensed Statements of Comprehensive Income

(DOLLARS IN THOUSANDS)

	Year Ended December 31,
	2014		2013			2012
		$		$			$
Income
Dividend income - investment securities		9		7			—
Gains on securities transactions		49		25			—
Dividend income		3,556		2,966			2,853
Undistributed earnings of bank subsidiary		3,621		4,855			4,927
Total income		7,235		7,853			7,780
Expense
Shareholder expenses		129		131			137
Other expenses		14		12			1
Total expense		143		143			138
Net Income		7,092		7,710			7,642
Comprehensive Income (Loss)		12,034		(2,893	)		10,084

Condensed Statements of Cash Flows  

(DOLLARS IN THOUSANDS)

	Year Ended December 31,
	2014			2013			2012
Cash Flows from Operating Activities:		$			$			$
Net Income		7,092			7,710			7,642
Equity in undistributed earnings of subsidiaries		(3,621	)		(4,855	)		(4,927	)
Gains on securities transactions, net		(49	)		(25	)		—
Net change in other assets		(3	)		4			(23	)
Net cash provided by operating activities		3,419			2,834			2,692
Cash Flows from Investing Activities:
Proceeds from sales of securities available for sale		338			120			—
Purchases of securities available for sale		(327	)		(246	)		—
Net cash provided by (used for) investing activities		11			(126	)		—
Cash Flows from Financing Activities:
Proceeds from issuance of treasury stock		499			477			432
Payment to repurchase common stock		(485	)		(357	)		(619	)
Dividends paid		(3,057	)		(2,966	)		(2,853	)
Net cash used for financing activities		(3,043	)		(2,846	)		(3,040	)
Cash and Cash Equivalents:
Net change in cash and cash equivalents		387			(138	)		(348	)
Cash and cash equivalents at beginning of period		315			453			801
Cash and cash equivalents at end of period		702			315			453