Note 19 - Parent Company

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]

19. PARENT COMPANY

Following are condensed financial statements for the Company.  

CONDENSED BALANCE SHEET
(Dollar amounts in thousands)	December 31,
	2014		2013
ASSETS
Cash and due from banks	$	466	$	797
Investment securities available for sale		783		750
Investment in nonbank subsidiary		2,534		2,560
Investment in subsidiary bank		69,514		59,951
Other assets		1,981		1,615
TOTAL ASSETS	$	75,278	$	65,673
LIABILITIES
Trust preferred securities	$	8,248	$	8,248
Short-term borrowings		3,136		3,895
Other liabilities		27		57
TOTAL LIABILITIES		11,411		12,200
STOCKHOLDERS' EQUITY		63,867		53,473
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	75,278	$	65,673

CONDENSED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
	Year Ended December 31,
(Dollar amounts in thousands)	2014			2013			2012
INCOME
Dividends from subsidiary bank	$	3,142		$	2,198		$	2,327
Other		8			5			8
Total income		3,150			2,203			2,335
EXPENSES
Interest expense		304			361			417
Other		816			475			594
Total expenses		1,120			836			1,011
Income before income tax benefit		2,030			1,367			1,324
Income tax benefit		(378	)		(283	)		(342	)
Income before equity in undistributed net income of subsidiaries		2,408			1,650			1,666
Equity in undistributed net income of subsidiaries		4,772			5,378			4,615
NET INCOME	$	7,180		$	7,028		$	6,281
Comprehensive Income (Loss)	$	11,965		$	(600	)	$	7,131

CONDENSED STATEMENT OF CASH FLOWS
	Year Ended December 31,
(Dollar amounts in thousands)	2014			2013			2012
OPERATING ACTIVITIES
Net income	$	7,180		$	7,028		$	6,281
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of Middlefield Banking Company		(4,798	)		(4,884	)		(4,655	)
Equity in undistributed net income of Emerald Bank		-			(598	)		(240	)
Equity in undistributed net loss of EMORECO		26			104			280
Stock-based compensation expense		10			-			32
Other		(409	)		(253	)		(885	)
Net cash provided by operating activities		2,009			1,397			813
FINANCING ACTIVITIES
Net decrease in short-term borrowings		(759	)		(976	)		(804	)
Common stock issued		-			74			2,329
Stock options exercised		(50	)		(77	)		-
Proceeds from dividend reinvestment plan		590			736			694
Cash dividends		(2,121	)		(2,097	)		(2,002	)
Net cash (used for) provided by financing activities		(2,340	)		(2,340	)		217
(Decrease) increase in cash		(331	)		(943	)		1,030
CASH AT BEGINNING OF YEAR		797			1,740			710
CASH AT END OF YEAR	$	466		$	797		$	1,740