Note 18 - California First National Bancorp (Parent Only) Financial Information

12 Months Ended

Jun. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

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

Note 18 – California First National Bancorp (Parent Only) Financial Information:

The condensed financial statements of California First National Bancorp as of June 30, 2015 and 2014 and for the years ended June 30, 2015, 2014 and 2013 are presented as follows:

Condensed Balance Sheets	June 30,
(in thousands, except share amounts)	2015		2014
ASSETS
Cash and cash equivalents	$	3,091	$	2,796
Intercompany receivable		69		32
Investment in banking subsidiary		109,382		103,000
Investment in nonbanking subsidiaries		75,706		77,337
Intercompany note receivable		-		-
Other assets		664		1,170
Premises and other fixed assets		197		261
	$	189,109	$	184,596
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Accrued liabilities	$	492	$	495
Intercompany payable		120		126
Income taxes payable- deferred		279		230
		891		851
Stockholders' equity
Preferred stock; 2,500,000 shares authorized; none issued		-		-
Common stock, $.01 par value; 20,000,000 shares authorized; 10,459,924 (2015) and 10,459,924 (2014) issued and outstanding		105		105
Additional paid in capital		3,376		3,372
Retained earnings		184,506		179,844
Other comprehensive income, net of tax		231		424
		188,218		183,745
	$	189,109	$	184,596

Condensed Statements of Earnings	Years Ended June 30,
(in thousands)	2015			2014			2013
Income:
Dividends from non-bank subsidiary	$	5,000		$	-		$	-
Management fee income bank subsidiary		676			569			336
Management fee income non-bank subsidiaries		151			151			628
Interest income non-bank subsidiaries		-			22			331
Other interest income		1			1			5
		5,828			743			1,300
Non-interest Expenses:
Salaries & benefits		1,209			1,186			1,332
Occupancy		95			140			142
Professional services		244			274			282
Other general & administrative		322			488			171
		1,870			2,088			1,927
Income (loss) before taxes and equity in undistributed earnings of subsidiaries		3,958			(1,345	)		(627	)
Income tax expense		(154	)		(498	)		(204	)
Equity in undistributed earnings of subsidiaries		4,943			7,898			7,777
Net Income	$	9,055		$	7,051		$	7,354

Condensed Statements of Cash Flows	Years Ended June 30,
(in thousands)	2015			2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	9,055		$	7,051		$	7,354
Adjustments to reconcile net earnings to cash flows:
Deferred income taxes		49			(706	)		558
Equity in undistributed earnings of subsidiaries		(4,943	)		(7,898	)		(7,777	)
Net change in other liabilities		(3	)		74			(797	)
Net change in other assets		510			37			(347	)
Other, net		64			(68	)		(25	)
Net cash provided by (used for) operating activities		4,732			(1,510	)		(1,034	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for investments in and (advances to) subsidiaries		(44	)		3,745			22,192
Net cash (used for) provided by investing activities		(44	)		3,745			22,192
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock		-			156			164
Dividends paid		(4,393	)		(4,179	)		(22,985	)
Net cash used for financing activities		(4,393	)		(4,023	)		(22,821	)
NET CHANGE IN CASH AND CASH EQUIVALENTS		295			(1,788	)		(1,663	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		2,796			4,584			6,247
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	3,091		$	2,796		$	4,584