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Condensed Parent Company Only Financial Information (Tables)
12 Months Ended
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Balance Sheets

CONDENSED BALANCE SHEETS (IN THOUSANDS):

 

December 31, 2014 2013   2012

Assets

Investments in subsidiaries, at underlying equity:

  Bank subsidiary

 $ 91,179    $ 94,883    $ 106,266   

  Nonbank subsidiary

  1      1      1   

Cash in bank subsidiary

  160      487      360   

Other assets

  3,611      3,937      4,288   
  

 

 

 

Total assets

 $ 94,951    $ 99,308    $ 110,915   
  

 

 

 

Liabilities and Shareholders’ Equity:

Other liabilities

 $      $ 161    $ 161   
  

 

 

 

Total liabilities

  161      161   

Shareholders’ equity

  94,951      99,147      110,754   
  

 

 

 

Total liabilities and shareholders’ equity

 $         94,951    $         99,308    $         110,915   
  

 

 

 

Condensed Statements of Income

CONDENSED STATEMENTS OF OPERATIONS (IN THOUSANDS):

 

Years Ended December 31, 2014 2013 2012  

Income

Earnings of unconsolidated bank subsidiary:

  Distributed earnings

 $      $      $ 1,150    

  Undistributed earnings (loss)

  (10,025 )    (494 )    1,845    

Loss on impairment of other investments

  (360)   

Other income

  (53 )    57      (71)   
  

 

 

 

Total income (loss)

  (10,078 )    (437 )    2,564    
  

 

 

 

Expenses

Other

  124      122      105    
  

 

 

 

Total expenses

  124      122      105    
  

 

 

 

Income (loss) before income taxes

  (10,202 )    (559 )    2,459    

Income tax benefit

  (198 )    (21 )    (182)   
  

 

 

 

Net income (loss)

   $        (10,004 )    $        (538 )    $        2,641    
  

 

 

 

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS (IN THOUSANDS):

 

Years Ended December 31, 2014 2013 2012  

Cash flows from operating activities:

Net income (loss)

  $        (10,004 )    $            (538 )    $            2,641    

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

(Income) loss on other investments

  64      (42 )    84    

Loss on impairment of other investments

  360    

Undistributed (income) loss of unconsolidated subsidiaries

  10,025      494      (1,845)   

Other assets

  25      164      (182)   

Other liabilities

  (161 )    (1)   
  

 

 

 

Net cash provided by (used in) operating activities

  (51 )    78      1,057    
  

 

 

 

Cash flows from investing activities:

Redemption of equity securities

  236      230      36    
  

 

 

 

Net cash provided by investing activities

  236      230      36    
  

 

 

 

Cash flows from financing activities:

Retirement of stock

  (181 ) 

Dividends paid

  (512 )    (1,541)   
  

 

 

 

Net cash used in financing activities

  (512 )    (181 )    (1,541)   
  

 

 

 

Net increase (decrease) in cash

  (327 )    127      (448)   

Cash, beginning of year

  487      360      808    
  

 

 

 

Cash, end of year

$ 160    $ 487    $ 360