Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2016

Parent Company Financial Information [Abstract]

Schedule of Condensed Statements of Financial Condition

Condensed Statements of Financial Condition	December 31
(Dollars in thousands)	2016		2015
Assets
Cash	$	1,354	$	75
Investment securities, at fair value		-		-
Investment in subsidiary		112,150		74,243
Other assets		484		302
Total assets	$	113,988	$	74,620
Liabilities and Stockholders’ Equity
Liabilities
Junior subordinated debentures	$	9,279	$	9,279
Subordinated debt		9,750		9,750
Other liabilities		119		103
Total liabilities		19,148		19,132
Stockholders’ equity		94,840		55,488
Total liabilities and stockholders’ equity	$	113,988	$	74,620

Schedule of Condensed Statements of Income

	Year Ended
Condensed Statements of Income	December 31
(Dollars in thousands)	2016		2015
Income:
Equity in undistributed income of subsidiary	$	(3,213)	$	1,429
Loss on sale of equity securities		-		(8)
Dividends from subsidiary		8,950		4,359
Total income		5,737		5,780
Expense:
Interest expense		758		642
Total expense		758		642
Net income	$	4,979	$	5,138

Schedule of Condensed Statement of Comprehensive Income

Condensed Statements of Comprehensive Income		Year Ended
(Dollars in thousands)		December 31
		2016		2015
Net income	$	4,979	$	5,138
Other comprehensive (loss) income:
Unrealized holding losses on AFS investment securities arising during the period
Before tax amount		(56)		(437)
Tax effect		19		149
		(37)		(288)
Accretion of discount on AFS to HTM reclassification(1)
Before tax amount		9		7
Tax effect(2)		(3)		(2)
		6		5
Less reclassification for gains on sales of AFS investment securities included in net income(3)
Before tax amount		(410)		(78)
Tax effect(2)		139		27
		(271)		(51)
Other comprehensive loss - securities		(302)		(334)
Unrealized actuarial gains (losses) - pension
Before tax amount		20		(79)
Tax effect		(7)		27
		13		(52)
Total other comprehensive loss		(289)		(386)
Total comprehensive income	$	4,690	$	4,752
(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)	2016		2015
Cash Flows From Operating Activities:
Net income	$	4,979	$	5,138
Adjustments to reconcile net income to net cash provided by
operating activities:
Equity in income of subsidiary and dividends		(5,737)		(5,787)
Loss on sale of equity securities		-		8
Stock based compensation		940		342
Dividends to holding company		8,950		4,358
Net change in other liabilities		16		(198)
Net change in other assets		(1,397)		(198)
Net Cash Provided by Operating Activities		7,751		3,663
Cash Flows From Investing Activities:
Net cash disbursed in connection with acquisition		(5,488)		-
Sale of available-for-sale equity securities		-		19
Net Cash (Used in) Provided by Investing Activities		(5,488)		19
Cash Flows From Financing Activities:
Sale of treasury stock		424		387
Proceeds from exercise of stock options		-		402
Tax benefit for restricted stock vesting		188		(3)
Taxes on exercise of stock options		(701)		(469)
Proceeds from issuance of subordinated debt		-		9,750
Payment to repurchase preferred stock		-		(13,000)
Dividends paid		(895)		(834)
Net Cash Used in Financing Activities		(984)		(3,767)
Net Change in Cash and Cash Equivalents		1,279		(85)
Cash and cash equivalents at Beginning of Period		75		160
Cash and cash equivalents at End of Period	$	1,354	$	75