Condensed Financial Information - Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2015


BALANCE SHEETS
December 31

		2015		2014

Cash	$	918	$	1,121
Investment in subsidiaries		156,396		148,049
Premises		688		689
Other assets		320		175
Total assets	$	158,322	$	150,034

Liabilities
Total liabilities	$	4,170	$	3,747

Shareholders' equity
Total shareholders' equity	$	154,152	$	146,287

Liabilities and Shareholders' equity	$	158,322	$	150,034


STATEMENTS OF INCOME
Years Ended December 31

		2015			2014			2013

Dividend income from subsidiaries	$	5,407		$	5,697		$	4,883
Equity in undistributed earnings of subsidiaries (1)		11,272			10,141			9,468
Bankshares expenses		(2,183	)		(1,705	)		(1,591	)
Tax benefit		657			480			423
Net income	$	15,153		$	14,613		$	13,183

(1) Amount in parentheses represents the excess of dividends over net income subsidiaries.

STATEMENTS OF CASH FLOWS
Years Ended December 31


		2015			2014			2013

Cash flows from operating activities:
Net income	$	15,153		$	14,613		$	13,183

Adjustments to reconcile net income to cash
provided by operating activities:
Depreciation		1			---			1
Recognition of stock based expense		711			418			265
Net change in other assets		(281	)		(189	)		331
Net change in other liabilities		423			415			389
Equity in undistributed earnings of subsidiaries		(11,272	)		(10,141	)		(9,468	)

Net cash provided by operating activities		4,735			5,116			4,701

Cash flows from investing activities:
Capital expenditures		(1	)		(1	)		(1	)

Net cash used in investing activities		(1	)		(1	)		(1	)

Cash flows from financing activities:
Purchases of treasury stock		(24	)		(8	)		(24	)
Proceeds from stock option exercises		1,127			616			461
Dividend paid		(6,040	)		(5,362	)		(4,915	)

Net cash used in financing activities		(4,937	)		(4,754	)		(4,478	)

Net (decrease) increase in cash		(203	)		361			222

Cash and cash equivalents, beginning of year		1,121			760			538

Cash and cash equivalents, end of year	$	918		$	1,121		$	760