Auburn National Bancorporation - Parent Company Financials

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 20: AUBURN NATIONAL BANCORPORATION (PARENT COMPANY)

The Parent Company’s condensed balance sheets and related condensed statements of earnings and cash flows are as follows:

CONDENSED BALANCE SHEETS
				December 31
(Dollars in thousands)	2014		2013
Assets:
Cash and due from banks	$	2,311		2,408
Investment in bank subsidiary		81,410		70,164
Other assets		846		846
Total assets	$	84,567		73,418
Liabilities:
Accrued expenses and other liabilities	$	1,551		1,716
Long-term debt		7,217		7,217
Total liabilities		8,768		8,933
Stockholders' equity		75,799		64,485
Total liabilities and stockholders' equity	$	84,567		73,418

CONDENSED STATEMENTS OF EARNINGS
		Year ended December 31
(Dollars in thousands)		2014		2013		2012
Income:
Dividends from bank subsidiary		$	3,377		3,304	3,231
Noninterest income			147		1,284	288
	Total income		3,524		4,588	3,519
Expense:
Interest expense			236		236	236
Noninterest expense			206		302	318
	Total expense		442		538	554
Earnings before income tax (benefit) expense and equity
	in undistributed earnings of bank subsidiary		3,082		4,050	2,965
Income tax (benefit) expense			(114)		275	(45)
Earnings before equity in undistributed earnings
	of bank subsidiary		3,196		3,775	3,010
Equity in undistributed earnings of bank subsidiary			4,252		3,343	3,753
	Net earnings	$	7,448		7,118	6,763

CONDENSED STATEMENTS OF CASH FLOWS
						Year ended December 31
(Dollars in thousands)					2014		2013	2012
Cash flows from operating activities:
	Net earnings				$	7,448	7,118	6,763
	Adjustments to reconcile net earnings to net cash
		provided by operating activities:
			Depreciation and amortization			—	28	29
			Net gain on disposition of premises and equipment			—	(1,018)	—
			Net decrease in other assets			—	316	16
			Net decrease in other liabilities			(159)	(97)	(104)
			Equity in undistributed earnings of bank subsidiary			(4,252)	(3,343)	(3,753)
				Net cash provided by operating activities		3,037	3,004	2,951
Cash flows from investing activities:
	Purchases of premises and equipment					—	—	(17)
	Proceeds from sale of premises and equipment to third party					—	1,148	—
				Net cash provided by (used in) investing activities		—	1,148	(17)
Cash flows from financing activities:
	Dividends paid					(3,134)	(3,060)	(2,987)
				Net cash used in financing activities		(3,134)	(3,060)	(2,987)
Net change in cash and cash equivalents						(97)	1,092	(53)
Cash and cash equivalents at beginning of period						2,408	1,316	1,369
Cash and cash equivalents at end of period					$	2,311	2,408	1,316