Condensed Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information (Parent Company Only)

Note 20: Condensed Financial Information (Parent Company Only)

Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company:

Condensed Balance Sheets

	December 31,
	2015		2014
	(In thousands)
Assets
Cash and cash equivalents	$	3,455	$	2,608
Investment in the Bank		39,412		38,644
Corporate owned life insurance		—		318
Other assets		2,814		3,076
Total assets	$	45,681	$	44,646
Liabilities and Stockholders’ Equity
Subordinated debentures	$	4,124	$	4,124
Other liabilities		61		133
Stockholders’ equity		41,496		40,389
Total liabilities and stockholders’ equity	$	45,681	$	44,646

Condensed Statements of Income and Comprehensive Income

	Years Ended December 31,
	2015		2014
	(In thousands)
Operating Income
Dividends from subsidiary	$	3,550	$	3,842
Interest and dividend income from securities and federal funds		43		11
Total operating income		3,593		3,853
General, Administrative and Other Expenses		1,755		1,946
Income Before Income Taxes and Equity in Undistributed Income of Subsidiary		1,838		1,907
Income Tax Benefits		569		648
Income Before Equity in Undistributed Income of Subsidiary		2,407		2,555
Equity in Undistributed Income of Subsidiary		817		96
Net Income	$	3,224	$	2,651
Comprehensive Income	$	2,986	$	2,899

Condensed Statements of Cash Flows

	Years Ended December 31,
	2015		2014
	(In thousands)
Operating Activities
Net income	$	3,224	$	2,651
Items not requiring (providing) cash
Depreciation and amortization		13		12
Equity in undistributed income of subsidiary		(817)		(96)
Amortization of ESOP and share-based compensation plans		360		355
Gain on Corporate owned life insurance		29		—
Net change in other assets and other liabilities		(11)		(697)
Net cash provided by operating activities		2,798		2,225
Investing Activities
Redemption of Corporate owned life insurance		289		39
Net cash provided by financing activities		289		(1,734)
Financing Activities
Dividends paid to stockholders		(2,259)		(1,773)
Treasury stock –net		19		39
Net cash used in financing activities		(2,240)		(1,734)
Net Change in Cash and Cash Equivalents		847		491
Cash and Cash Equivalents at Beginning of Year		2,608		2,117
Cash and Cash Equivalents at End of Year	$	3,455	$	2,608