CONDENSED PARENT COMPANY STATEMENTS

12 Months Ended

Dec. 31, 2011

CONDENSED PARENT COMPANY STATEMENTS [Abstract]

CONDENSED PARENT COMPANY STATEMENTS

NOTE P – CONDENSED PARENT COMPANY STATEMENTS

Balance sheets as of December 31, 2011 and 2010, and statements of income and cash flows for the years ended December 31, 2011, 2010, and 2009 of Security Capital Corporation (parent company only) are presented below:

BALANCE SHEET
	December 31,
	2011		2010
	(In thousands)
Assets
Cash and cash equivalents	$	1,311	$	1,352
Investment in subsidiaries		59,631		57,602
Loans		2,692		2,988
Other real estate		10,226		10,386
Other assets		404		327
	$	74,264	$	72,655
Liabilities and Shareholders' Equity
Accrued payables	$	110	$	78
Other liabilities		665		664
Shareholders' equity		73,489		71,913
	$	74,264	$	72,655

INCOME STATEMENT
	Years Ended December 31,
	2011		2010			2009
	(In thousands)
Income
Dividends (including from subsidiary)	$	1,456	$	777		$	780
Other		144		127			74
		1,600		904			854
Expenses (total)		464		1,332			349
Income (loss) before income taxes and equity in
undistributed earnings of subsidiaries		1,136		(428	)		505
Income tax benefit		118		447			99
Income before equity in undistributed earnings
of subsidiaries		1,254		19			604
Equity in undistributed earnings of subsidiaries
in excess of dividends		962		1,283			194
Net income	$	2,216	$	1,302		$	798

STATEMENT OF CASH FLOWS
	Years Ended December 31,
	2011			2010			2009
				(In thousands)
Cash Flows from Operating Activities
Net income	$	2,216		$	1,302		$	798
Equity in subsidiaries' undistributed earnings		(962	)		(1,283	)		(194	)
Provision for loan losses		154			271			-
Other real estate writedown		-			602			-
Deferred income tax benefit		(79	)		(303	)		-
Loss on sale of other real estate		25			53			-
Other, net		126			(90	)		219
Net cash provided by operating activities		1,480			552			823
Cash Flows From Investing Activities
Purchases of assets		-			(281	)		(14,861	)
Proceeds from sale of other assets		135			167			-
Other, net		142			629			81
Net cash provided by (used in) investing activities		277			515			(14,780	)
Cash Flows From Financing Activities
Dividends paid on common stock		(1,442	)		(1,442	)		(1,441	)
Dividends paid on preferred stock		(358	)		(845	)		(354	)
Proceeds from issuance of preferred stock		-			-			17,388
Other, net		2			1			(123	)
Net cash provided by (used in)  financing activities		(1,798	)		(2,286	)		15,470
Net increase (decrease) in cash and cash equivalents		(41	)		(1,219	)		1,513
Cash and cash equivalents at beginning of year		1,352			2,571			1,058
Cash and cash equivalents at end of year	$	1,311		$	1,352		$	2,571