Parent Company Condensed Financial Information

12 Months Ended

Dec. 31, 2017

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)	2017		2016
Balance Sheets
Assets
Cash	$	407	$	611
Other assets		3,147		3,333
Investments in subsidiaries		163,892		161,114
Total assets	$	167,446	$	165,058
Liabilities and shareholders’ equity
Trust preferred capital notes	$	25,210	$	25,175
Other liabilities		534		669
Shareholders’ equity		141,702		139,214
Total liabilities and shareholders’ equity	$	167,446	$	165,058

	Year Ended December 31,
(Dollars in thousands)	2017		2016		2015
Statements of Income
Interest expense on borrowings	$	(1,151)	$	(1,143)	$	(1,162)
Dividends received from C&F Bank		5,008		4,464		5,255
Equity in undistributed net income of subsidiaries		3,482		10,618		8,568
Other income		31		26		22
Other expenses		(798)		(506)		(153)
Net income	$	6,572	$	13,459	$	12,530

	Year Ended December 31,
(Dollars in thousands)	2017		2016		2015
Statements of Cash Flows
Operating activities:
Net income	$	6,572	$	13,459	$	12,530
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(3,482)		(10,618)		(8,568)
Share-based compensation		1,451		1,218		1,231
Amortization of acquisition-related fair value adjustment		36		35		36
Decrease (increase) in other assets		265		(224)		(661)
(Decrease) increase in other liabilities		(80)		340		(65)
Net cash provided by operating activities		4,762		4,210		4,503
Financing activities:
Net proceeds from issuance of common stock		147		149		135
Common stock repurchases		(560)		(414)		(1,687)
Cash dividends		(4,637)		(4,464)		(4,148)
Proceeds from exercise of stock options		84		362		1,303
Net cash used in financing activities		(4,966)		(4,367)		(4,397)
Net (decrease) increase in cash and cash equivalents		(204)		(157)		106
Cash at beginning of year		611		768		662
Cash at end of year	$	407	$	611	$	768