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Parent Company financial statements (Tables)

12 Months Ended

Dec. 31, 2016

Parent Company financial statements

Condensed Balance Sheets


December 31		2016			2015
Assets:
Cash and cash equivalents		$	3,948		$	4,119
Investment in bank subsidiary			250,869			242,765
Due from subsidiaries			1,903			2,063
Total assets		$	256,720		$	248,947

Liabilities and Stockholders’ Equity:
Other liabilities		$	102		$	179
Stockholders’ equity			256,618			248,768
Total liabilities and stockholders’ equity		$	256,720		$	248,947

Condensed Statements of Income and Comprehensive Income


Year Ended December 31		2016			2015			2014
Income:
Dividends from subsidiaries		$	9,170		$	9,319		$	9,360
Other income			46			40			430
Total income			9,216			9,359			9,790
Expense:
Other expenses			259			243			251
Total expenses			259			243			251
Income before taxes and undistributed income			8,957			9,116			9,539
Income tax benefit			(75)			(70)
Income before undistributed income of subsidiaries			9,032			9,186			9,539
Equity in undistributed net income (loss) of subsidiaries			10,551			8,537			8,110
Net income		$	19,583		$	17,723		$	17,649
Comprehensive Income		$	17,553		$	16,427		$	17,518

Condensed Statements of Cash Flows


Year Ended December 31		2016			2015			2014
Cash flows from operating activities:
Net income		$	19,583		$	17,723		$	17,649
Adjustments:
Net realized gains on sales of securities									(375)
Undistributed net income of subsidiaries			(10,551)			(8,537)			(8,110)
Increase in other assets			577			5,257			1,182
Decrease in other liabilities			(77)			(69)			(511)
Stock based compensation			71			69			70
Deferred income tax expense
Increase in due from subsidiaries
Net cash provided by operating activities			9,603			14,443			9,905
Cash flows from investing activities:
Proceeds from sale of available-for-sale securities									722
Net cash provided by investing activities									722
Cash flows from financing activities:
Redemption of common stock			(604)			(5,188)			(109)
Retirement of stock options									(83)
Reissuance of treasury stock									21
Purchase of treasury stock									(70)
Cash dividends paid			(9,170)			(9,319)			(9,360)
Net cash used in financing activities			(9,774)			(14,507)			(9,601)
(Decrease) increase in cash			(171)			(64)			1,026
Cash at beginning of year			4,119			4,183			3,157
Cash at end of year		$	3,948		$	4,119		$	4,183