XML 45 R47.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Parent Only Financial Information (Tables)
 12 Months Ended
Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Balance Sheet
The following represents the condensed financial information of FBFS - Only:
Condensed Balance Sheets
 
 
 
As of December 31,
 
 
2013
 
2012
 
 
(In Thousands)
Assets
 
 
 
 
Cash and cash equivalents
 
$
4,855

 
$
1,032

Investments in subsidiaries, at equity
 
127,450

 
121,122

Leasehold improvements and equipment, net
 
789

 
475

Other assets
 
1,921

 
2,199

Total assets
 
$
135,015

 
$
124,828

Liabilities and Stockholders’ Equity
 
 
 
 
Borrowed funds
 
$
22,251

 
$
22,251

Other liabilities
 
3,489

 
3,038

Total liabilities
 
25,740

 
25,289

Stockholders’ equity
 
109,275

 
99,539

Total liabilities and stockholders’ equity
 
$
135,015

 
$
124,828
Condensed Income Statement
Condensed Statements of Income
 
 
 
For the Year Ended December 31,
 
 
2013
 
2012
 
 
(In Thousands)
Interest income
 
$
—

 
$
—

Interest expense
 
1,952

 
3,825

Net interest expense
 
(1,952
)
 
(3,825
)
Non-interest income
 
 
 
 
Consulting and rental income from consolidated subsidiaries
 
9,738

 
8,904

Other
 
34

 
34

Total non-interest income
 
9,772

 
8,938

Non-interest expense
 
10,558

 
9,615

Loss before income tax benefit and equity in undistributed net income of consolidated subsidiaries
 
(2,738
)
 
(4,502
)
Income tax benefit
 
(1,050
)
 
(1,722
)
Loss before equity in undistributed net income of consolidated subsidiaries
 
(1,688
)
 
(2,780
)
Equity in undistributed net income of consolidated subsidiaries
 
15,434

 
11,706

Net income
 
$
13,746

 
$
8,926
Condensed Cash Flow Statement
Condensed Statements of Cash Flows
 
 
 
For the Year Ended December 31,
 
 
2013
 
2012
 
 
(In Thousands)
Operating activities
 
 
 
 
Net income
 
$
13,746

 
$
8,926

Adjustments to reconcile net income to net cash used in operating activities:
 
 
 
 
Equity in undistributed earnings of consolidated subsidiaries
 
(15,434
)
 
(11,706
)
Share-based compensation
 
311

 
254

Excess tax benefit from share-based compensation
 
(145
)
 
(47
)
Increase (decrease) in other liabilities
 
867

 
(1,131
)
Other, net
 
(34
)
 
(297
)
Net cash used in operating activities
 
(689
)
 
(4,001
)
Investing activities
 
 
 
 
Dividends received from subsidiaries
 
8,000

 
6,000

Capital contributions to subsidiaries
 
(850
)
 
—

Net provided by investing activities
 
7,150

 
6,000

Financing activities
 
 
 
 
Net decrease in short-term borrowed funds
 
—

 
(800
)
Proceeds from issuance of long-term debt
 
—

 
6,215

Repayment of long-term debt
 
—

 
(33,289
)
Proceeds from issuance of common stock
 
—

 
27,074

Proceeds from exercise of stock options
 
1,474

 
22

Purchase of treasury stock
 
(1,782
)
 
(216
)
Excess tax benefit from share-based compensation
 
145

 
47

Dividends paid
 
(2,475
)
 
(738
)
Net cash used in financing activities
 
(2,638
)
 
(1,685
)
Increase in cash and cash equivalents
 
3,823

 
314

Cash and cash equivalents at the beginning of the period
 
1,032

 
718

Cash and cash equivalents at the end of the period
 
$
4,855

 
$
1,032