Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Statements of Parent Company [Abstract]

Balance Sheets

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

	December 31,
Balance Sheets	2015			2014
	(in thousands)
Assets
Cash and cash equivalents	$	2,198		$	1,349
Securities available-for-sale		99			85
Investment in common stock of subsidiaries		90,836			87,005
Other assets		58			58
Total assets	$	93,191		$	88,497
Liabilities and Stockholders' Equity
Note payable - subsidiary	$	15		$	0
Common stock		24,795			24,795
Additional paid-in capital		16,392			16,392
Retained earnings		55,151			53,203
Accumulated other comprehensive loss		(3,162	)		(5,893	)
Total liabilities and stockholders' equity	$	93,191		$	88,497

Statements of Income

	Years Ended December 31,
Statements of Income	2015			2014
	(in thousands)
Income:
Dividends from subsidiaries	$	2,900		$	2,475
Other income		200			200
Total income		3,100			2,675
Expenses:
Salaries and benefits		432			428
Legal expenses		180			107
Service fees		137			143
Other operating expenses		19			(125	)
Total expenses		768			553
Income before income taxes and equity in undistributed net income of subsidiaries		2,332			2,122
Income tax benefit		(193	)		(120	)
		2,525			2,242
Equity in undistributed net income of subsidiaries		1,109			1,874
Net income	$	3,634		$	4,116

Statements of Cash Flows

	Years Ended December 31,
Statements of Cash Flows	2015			2014
	(in thousands)
Cash flows from operating activities:
Net income	$	3,634		$	4,116
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries		(1,109	)		(1,874	)
(Increase) decrease in other assets		(5	)		124
Increase (decrease) in other liabilities		15			(1	)
Net cash provided by operating activities		2,535			2,365
Cash flows from investing activities:		0			0
Cash flows from financing activities: cash dividends paid on common stock		(1,686	)		(1,289	)
Net increase in cash and cash equivalents		849			1,076
Cash and cash equivalents at beginning of year		1,349			273
Cash and cash equivalents at end of year	$	2,198		$	1,349
Supplemental schedule of noncash transactions:
Unrealized loss on securities available-for-sale	$	(1	)	$	(15	)
Book value of equity securities transferred from other assets to available-for-sale	$	0		$	100