Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Parent Company Financial Information [Abstract]

Schedule of Condensed Statements of Financial Condition

Condensed Statements of Financial Condition	December 31
(Dollars in thousands)	2015		2014
Assets
Cash	$	75	$	160
Investment securities, at fair value		-		18
Investment in subsidiary		74,243		73,206
Other assets		302		104
Total assets	$	74,620	$	73,488
Liabilities and Stockholders’ Equity
Liabilities
Junior subordinated debentures	$	9,279	$	9,279
Subordinated debt		9,750		-
Other liabilities		103		301
Total liabilities		19,132		9,580
Stockholders’ equity		55,488		63,908
Total liabilities and stockholders’ equity	$	74,620	$	73,488

Schedule of Condensed Statements of Income

	Year Ended
Condensed Statements of Income	December 31
(Dollars in thousands)	2015		2014
Income:
Equity in undistributed income of subsidiary	$	1,429	$	4,548
Loss on sale of equity securities		(8)		-
Dividends from subsidiary		4,359		551
Total income		5,780		5,099
Expense:
Interest expense		642		295
Total expense		642		295
Net income	$	5,138	$	4,804

Schedule of Condensed Statement of Comprehensive Income

Condensed Statements of Comprehensive Income		Year Ended
(Dollars in thousands)		December 31
		2015		2014
Net income	$	5,138	$	4,804
Other comprehensive income (loss):
Unrealized holding gains (losses) on AFS investment securities arising during the period
Before tax amount		(437)		2,237
Tax effect		149		(760)
		(288)		1,477
Accretion of discount on AFS to HTM reclassification(1)
Before tax amount		7		8
Tax effect(2)		(2)		(3)
		5		5
Less reclassification for gains on AFS investment securities included in net income
Before tax amount		(78)		(443)
Tax effect(2)		27		151
		(51)		(292)
Other comprehensive income (loss) - securities		(334)		1,190
Unrealized actuarial losses - pension
Before tax amount		(79)		(630)
Tax effect		27		214
		(52)		(416)
Total other comprehensive (loss) income		(386)		774
Total comprehensive income	$	4,752	$	5,578
(1) Amounts are included in interest and dividends on investment securities in the consolidated statements of income.
(2) Amounts are included in income tax expense in the consolidated statements of income.

Schedule of Condensed Statements of Cash Flows

Condensed Statements of Cash Flows	Year Ended December 31
(Dollars in thousands)	2015		2014
Cash Flows From Operating Activities:
Net income	$	5,138	$	4,804
Adjustments to reconcile net income to net cash used
in operating activities:
Equity in income of subsidiary and dividends		(5,787)		(5,099)
Loss on sale of equity securities		8		-
Stock based compensation		342		267
Deferred tax benefit		(3)		-
Dividends to holding company		4,358		549
Net change in other liabilities		(198)		(5)
Net change in other assets		(198)		7
Net Cash Used in Operating Activities		3,660		523
Cash Flows From Investing Activities:
Sale of available-for-sale equity securities		19		-
Net Cash Provided by Investing Activities		19		-
Cash Flows From Financing Activities:
Sale of treasury stock		387		370
Proceeds from exercise of stock options		402		39
Taxes on exercise of stock options		(469)		(23)
Proceeds from issuance of subordinated debt		9,750		-
Payment to repurchase preferred stock		(13,000)		-
Dividends paid		(834)		(906)
Net Cash Used in Financing Activities		(3,764)		(520)
Net Change in Cash and Cash Equivalents		(85)		3
Cash and cash equivalents at Beginning of Period		160		157
Cash and cash equivalents at End of Period	$	75	$	160