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Parent Company Financial Information (Tables)
12 Months Ended
Dec. 31, 2012
Parent Company Financial Information [Abstract]  
Schedule of Condensed Statements of Financial Condition [Table Text Block]

 

 

 

 

 

 

 

 

 

 

Condensed Statements of Financial Condition

December 31

(Dollars in thousands)

2012

2011

Assets

 

 

 

 

Cash

$

222 

$

331 

Investment securities

 

14 

 

12 

Investment in subsidiary

 

65,945 

 

60,311 

Other assets

 

118 

 

125 

Total assets

$

66,299 

$

60,779 

Liabilities and Stockholders’ Equity

 

 

 

 

Liabilities

 

 

 

 

Junior subordinated debentures

$

9,279 

$

9,279 

Other liabilities

 

315 

 

444 

Total liabilities

 

9,594 

 

9,723 

Stockholders’ equity

 

56,705 

 

51,056 

Total liabilities and stockholders’ equity

$

66,299 

$

60,779 

 

Schedule of Condensed Statements of Income [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

Year Ended

Condensed Statements of Income

December 31

(Dollars in thousands)

2012

2011

Income:

 

 

 

 

Equity in undistributed income of subsidiary

$

4,843 

$

2,448 

Dividends from subsidiary

 

721 

 

2,762 

Total income

 

5,564 

 

5,210 

Expense:

 

 

 

 

Interest expense

 

325 

 

308 

Total expense

 

325 

 

308 

Net income

$

5,239 

$

4,902 

 

Schedule of Condensed Statement of Comprehensive Income [Table Text Block]

 

 

 

 

 

 

 

 

 

 

Condensed Statement of Comprehensive Income

 

Year Ended

(Dollars in thousands)

 

December 31

 

 

2012

 

2011

Net income

$

5,239 

$

4,902 

Other comprehensive income:

 

 

 

 

Unrealized holding gains arising during the period

 

 

 

 

Before tax amount

 

(1)

 

(1)

Tax effect

 

 -

 

 -

Net of tax

 

(1)

 

(1)

Total other comprehensive income

 

(1)

 

(1)

Total comprehensive income

$

5,238 

$

4,901 

 

Schedule of Condensed Statements of Cash Flows [Table Text Block]

 

 

 

 

 

 

 

 

 

 

Condensed Statements of Cash Flows

Year Ended December 31

(Dollars in thousands)

2012

2011

Cash Flows From Operating Activities:

 

 

 

 

Net income

$

5,239 

$

4,902 

Adjustments to reconcile net income to net cash used

 

 

 

 

in operating activities:

 

 

 

 

Equity in income of subsidiary

 

(5,564)

 

(5,210)

Unvested stock amortization

 

143 

 

80 

Net change in other liabilities

 

 

 -

Net change in other assets

 

 

Net Cash Used in Operating Activities

 

(170)

 

(222)

Cash Flows From Investing Activities:

 

 

 

 

Payments for investments in and advances to subsidiaries

 

(157)

 

(13,077)

Sale or repayment of investments in and advances to subsidiaries

 

877 

 

12,839 

Other, net

 

 

 -

Net Cash Provided by (Used in) Investing Activities

 

722 

 

(238)

Cash Flows From Financing Activities:

 

 

 

 

Proceeds from issuance of common stock

 

332 

 

263 

Issuance of preferred stock and warrants

 

 -

 

12,955 

Repurchase of preferred stock and warrants

 

 -

 

(12,208)

Dividends paid

 

(993)

 

(824)

Net Cash (Used) Provided by Financing Activities

 

(661)

 

186 

Net Change in Cash and Cash Equivalents

 

(109)

 

(274)

Cash and cash equivalents at Beginning of Period

 

331 

 

605 

Cash and cash equivalents at End of Period

$

222 

$

331