Parent Company Condensed Financial Information

12 Months Ended

Dec. 31, 2016

Parent Company Condensed Financial Information

Parent Company Condensed Financial Information

NOTE 20: Parent Company Condensed Financial Information

Financial information for the parent company is as follows:

	December 31,
(Dollars in thousands)	2016		2015
Balance Sheets
Assets
Cash	$	611	$	768
Other assets		3,333		3,155
Investments in subsidiaries		161,114		152,724
Total assets	$	165,058	$	156,647
Liabilities and shareholders’ equity
Trust preferred capital notes	$	25,174	$	25,139
Other liabilities		670		449
Shareholders’ equity		139,214		131,059
Total liabilities and shareholders’ equity	$	165,058	$	156,647

	Year Ended December 31,
(Dollars in thousands)	2016		2015		2014
Statements of Income
Interest expense on borrowings	$	(1,143)	$	(1,162)	$	(916)
Dividends received from C&F Bank		4,464		5,255		5,596
Equity in undistributed net income of subsidiaries		10,618		8,568		8,180
Other income		26		22		20
Other expenses		(506)		(153)		(536)
Net income	$	13,459	$	12,530	$	12,344

	Year Ended December 31,
(Dollars in thousands)	2016		2015		2014
Statements of Cash Flows
Operating activities:
Net income	$	13,459	$	12,530	$	12,344
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(10,618)		(8,568)		(8,180)
Share-based compensation		1,218		1,231		1,104
Amortization of acquisition-related fair value adjustment		35		36		27
Decrease (increase) in other assets		(224)		(661)		4,882
(Decrease) increase in other liabilities		340		(65)		(4,263)
Net cash provided by operating activities		4,210		4,503		5,914
Investing activities:
Merger of Central Virginia Bankshares, Inc. into C&F Financial Corporation		—		—		160
Net cash provided by investing activities		—		—		160
Financing activities:
Net proceeds from issuance of common stock		149		135		133
Repurchase of common stock warrant		—		—		(2,303)
Common stock repurchases		(414)		(1,687)		(161)
Cash dividends		(4,464)		(4,148)		(4,050)
Proceeds from exercise of stock options		362		1,303		11
Net cash used in financing activities		(4,367)		(4,397)		(6,370)
Net (decrease) increase in cash and cash equivalents		(157)		106		(296)
Cash at beginning of year		768		662		958
Cash at end of year	$	611	$	768	$	662