Condensed Financial Information - Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2016

BALANCE SHEETS


		2016		2015
Cash	$	1,302	$	918
Investment in subsidiaries		158,967		156,396
Premises		687		688
Other assets		137		320
Total assets	$	161,093	$	158,322

Liabilities
Total liabilities	$	4,353	$	4,170

Shareholders' equity
Total shareholders' equity	$	156,740	$	154,152

Liabilities and Shareholders' equity	$	161,093	$	158,322

STATEMENTS OF INCOME


		2016			2015			2014
Dividend income from subsidiaries	$	6,473		$	5,407		$	5,697
Equity in undistributed earnings of subsidiaries		10,380			11,272			10,141
Bankshares expenses		(2,949	)		(2,183	)		(1,705	)
Tax benefit		1,029			657			480
Net income	$	14,933		$	15,153		$	14,613

STATEMENTS OF CASH FLOWS


		2016			2015			2014
Cash flows from operating activities:
Net income	$	14,933		$	15,153		$	14,613

Adjustments to reconcile net income to cash
provided by operating activities:
Depreciation		1			1			--
Recognition of stock based expense		1,114			711			418
Net change in other assets		38			(281	)		(189	)
Net change in other liabilities		183			423			415
Equity in undistributed earnings of subsidiaries		(10,380	)		(11,272	)		(10,141	)

Net cash provided by operating activities		5,889			4,735			5,116

Cash flows from investing activities:
Additional investments in subsidiaries		--			--			--
Capital expenditures		(1	)		(1	)		(1	)

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

Cash flows from financing activities:
Purchases of treasury stock		(497	)		(24	)		(8	)
Purchase of preferred stock and warrants		--			--			--
Proceeds from issuance of equity instruments		--			--			--
Proceeds from stock option exercises		1,570			1,127			616
Dividend paid		(6,577	)		(6,040	)		(5,362	)

Net cash used in financing activities		(5,504	)		(4,937	)		(4,754	)

Net (decrease) increase in cash		384			(203	)		361
Cash and cash equivalents, beginning of year		918			1,121			760
Cash and cash equivalents, end of year	$	1,302		$	918		$	1,121