Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2013

Financial information pertaining to Old Point Financial Corporation (parent company only) is as follows:

	December 31,
Balance Sheets	2013			2012
	(in thousands)
Assets
Cash and cash equivalents	$	273		$	220
Investment in common stock of subsidiaries		80,212			88,815
Other assets		277			265
Total assets	$	80,762		$	89,300

Liabilities and Stockholders' Equity
Note payable - subsidiary	$	1		$	0
Common stock		24,795			24,795
Additional paid-in capital		16,392			16,392
Retained earnings		50,376			48,305
Accumulated other comprehensive loss		(10,802	)		(192	)
Total liabilities and stockholders' equity	$	80,762		$	89,300

	Years Ended December 31,
Statements of Income	2013		2012
	(in thousands)
Income:
Dividends from subsidiary	$	1,480	$	1,100
Interest on investments		0		8
Other income		201		660
Total income		1,681		1,768
Expenses:
Salary and benefits		432		500
Legal expenses		78		66
Service fees		164		147
Other operating expenses		19		33
Total expenses		693		746
Income before income taxes and equity in undistributed net income of subsidiaries		988		1,022
Income tax benefit		167		6
		1,155		1,028
Equity in undistributed net income of subsidiaries		2,008		3,159
Net income	$	3,163	$	4,187

	Years Ended December 31,
Statements of Cash Flows	2013			2012
	(in thousands)
Cash flows from operating activities:
Net income	$	3,163		$	4,187
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries		(2,008	)		(3,159	)
Stock compensation expense		0			82
Increase in other assets		(11	)		(4	)
Decrease in other liabilities		1			(1	)
Net cash provided by operating activities		1,145			1,105

Cash flows from investing activities: maturity of investment securities		0			145

Cash flows from financing activities:
Repayment of advances from subsidiaries		0			(124	)
Cash dividends paid on common stock		(1,092	)		(991	)
Net cash used in financing activities		(1,092	)		(1,115	)
Net increase in cash and cash equivalents		53			135
Cash and cash equivalents at beginning of year		220			85
Cash and cash equivalents at end of year	$	273		$	220