Note 20 - Condensed Parent Company Financial Information

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 20. Condensed Parent Company Financial Information

Financial information pertaining only to HomeTown Bankshares Corporation follows. The parent company was formed on September 4, 2009.

CONDENSED BALANCE SHEETS
Dollars In Thousands	December 31, 2013		December 31, 2012
Assets
Cash and due from banks	$	1,352	$	721
Investment in bank subsidiary		38,195		35,853
Other assets	–			145
Total assets	$	39,547	$	36,719
Liabilities and Stockholders’ Equity
Total liabilities	$	9	–
Stockholders’ equity:
Total stockholders’ equity		39,538		36,719
Total liabilities and stockholders’ equity	$	39,547	$	36,719

CONDENSED STATEMENTS OF INCOME
Dollars In Thousands	For the year ended December 31, 2013			For the year ended December 31, 2012
Expenses	$	(145	)	$	(140	)
Net loss before income taxes		(145	)		(140	)
Income tax benefit		49			49
Net loss before equity in undistributed net income of subsidiary		(96	)		(91	)
Undistributed net income of subsidiary		2,825			4,687
Net Income	$	2,729		$	4,596

CONDENSED STATEMENTS OF CASH FLOWS
Dollars In Thousands	For the year ended December 31, 2013			For the year ended December 31, 2012
Cash flows from operating activities:
Net income	$	2,729		$	4,596
Equity in undistributed net income of subsidiary bank		(2,825	)		(4,687	)
Decrease (increase) in other assets		145			(145	)
Increase in other liabilities		9		–
Net cash flows provided by (used in) operating activities		58			(236	)
Cash flows from investing activities:
Capital contribution to bank subsidiary		(1,500	)	–
Net cash flows used in investing activities		(1,500	)	–
Cash flows from financing activities:
Issuance of preferred stock net of issuance costs		13,293		–
Preferred stock redeemed		(10,374	)	–
Preferred dividend payment		(846	)		(1,335	)
Net cash flows provided by (used in) financing activities		2,073			(1,335	)
Net increase (decrease) in cash and cash equivalents		631			(1,571	)
Cash and cash equivalents, beginning		721			2,292
Cash and cash equivalents, ending	$	1,352		$	721