Condensed Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2015

BALANCE SHEETS

	December 31, 2015		December 31, 2014
ASSETS
Cash and due from banks	$	1,099	$	7,713
Investment securities		64		64
Investments in subsidiary		54,921		52,549
Other assets		488		541
Total assets	$	56,572	$	60,867

LIABILITIES & SHAREHOLDERS' EQUITY
Other liabilities	$	275	$	235
Stockholders' equity		56,297		60,632
Total liabilities and stockholders' equity	$	56,572	$	60,867

STATEMENTS OF INCOME

		For the years ended
	December 31, 2015			December 31, 2014
Dividends from subsidiary	$	965		$	788
Noninterest expense		558			449
Income before income taxes	$	407		$	339
Income tax (benefit)		(180	)		(202)
Income before equity in undistributed
earnings of subsidiary	$	587		$	541
Equity in undistributed earnings
of subsidiary		2,534			1,357
Net income	$	3,121		$	1,898

STATEMENTS OF CASH FLOWS

	For the years ended
	December 31, 2015		December 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	3,121	$	1,898
Adjustments to reconcile net income to
net cash provided by operating activities:
Equity in undistributed earnings
of subsidiary		(2,534)		(1,357)
Deferred tax benefit		(79)		(375)
Stock option & stock grant expense		30		52
Decrease (increase) in other assets		57		(122)
Increase in other liabilities		2		1
Net cash provided from operating activities		597		97
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of restricted securities		-		(64)
Net cash used in investing activities		-		(64)
CASH FLOWS FROM FINANCING ACTIVITIES
Stock options exercised or expired		22		180
Stock purchased under stock repurchase plan		(6,342)		(262)
Dividends paid		(891)		(674)
Net cash used in financing activities		(7,211)		(756)
NET DECREASE IN CASH AND CASH EQUIVALENTS		(6,614)		(723)
CASH AND CASH EQUIVALENTS
Beginning of period		7,713		8,436
End of period	$	1,099	$	7,713