XML 43 R28.htm IDEA: XBRL DOCUMENT v3.3.1.900
Condensed Parent Only Financial Information
 12 Months Ended
Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Parent Only Financial Information
Condensed Parent Only Financial Information
The following represents the condensed financial information of FBFS only:
Condensed Balance Sheets
 
 
 
As of December 31,
 
 
2015
 
2014
 
 
(In Thousands)
Assets
 
 
 
 
Cash and cash equivalents
 
$
1,099

 
$
1,179

Investments in subsidiaries, at equity
 
187,530

 
170,923

Leasehold improvements and equipment, net
 
1,519

 
1,388

Other assets
 
2,849

 
2,695

Total assets
 
$
192,997

 
$
176,185

Liabilities and Stockholders’ Equity
 
 
 
 
Borrowed funds
 
$
35,751

 
$
34,251

Other liabilities
 
6,414

 
4,186

Total liabilities
 
42,165

 
38,437

Stockholders’ equity
 
150,832

 
137,748

Total liabilities and stockholders’ equity
 
$
192,997

 
$
176,185


Condensed Statements of Income
 
 
 
For the Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(In Thousands)
Interest income
 
$
—

 
$
—

 
$
—

Interest expense
 
2,777

 
2,071

 
1,952

Net interest expense
 
(2,777
)
 
(2,071
)
 
(1,952
)
Non-interest income
 
 
 
 
 
 
Consulting and rental income from consolidated subsidiaries
 
13,398

 
10,776

 
9,738

Other
 
35

 
34

 
34

Total non-interest income
 
13,433

 
10,810

 
9,772

Non-interest expense
 
16,854

 
13,444

 
10,558

Loss before income tax benefit and equity in undistributed net income of consolidated subsidiaries
 
(6,198
)
 
(4,705
)
 
(2,738
)
Income tax benefit
 
(2,527
)
 
(1,659
)
 
(1,050
)
Loss before equity in undistributed net income of consolidated subsidiaries
 
(3,671
)
 
(3,046
)
 
(1,688
)
Equity in undistributed net income of consolidated subsidiaries
 
20,185

 
17,185

 
15,434

Net income
 
$
16,514

 
$
14,139

 
$
13,746



Condensed Statements of Cash Flows
 
 
 
For the Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(In Thousands)
Operating activities
 
 
 
 
 
 
Net income
 
$
16,514

 
$
14,139

 
$
13,746

Adjustments to reconcile net income to net cash used in operating activities:
 
 
 
 
 
 
Equity in undistributed earnings of consolidated subsidiaries
 
(20,185
)
 
(17,185
)
 
(15,434
)
Share-based compensation
 
448

 
416

 
311

Excess tax benefit from share-based compensation
 
(162
)
 
(305
)
 
(145
)
Increase in other liabilities
 
2,390

 
1,002

 
867

Other, net
 
(319
)
 
(842
)
 
(34
)
Net cash used in operating activities
 
(1,314
)
 
(2,775
)
 
(689
)
Investing activities
 
 
 
 
 
 
Dividends received from subsidiaries
 
7,034

 
8,000

 
8,000

Capital contributions to subsidiaries
 
(3,000
)
 
(32,980
)
 
(850
)
Net cash provided by (used in) investing activities
 
4,034

 
(24,980
)
 
7,150

Financing activities
 
 
 
 
 
 
Net increase in short-term borrowed funds
 
1,500

 
1,000

 
—

Proceeds from issuance of long-term debt, net of issuance costs
 
—

 
14,469

 
—

Repayment of long-term debt
 
—

 
(4,000
)
 
—

Proceeds from issuance of common stock
 
—

 
16,560

 
—

Proceeds from exercise of stock options
 
300

 
936

 
1,474

Purchase of treasury stock
 
(946
)
 
(1,795
)
 
(1,782
)
Excess tax benefit from share-based compensation
 
162

 
305

 
145

Dividends paid
 
(3,816
)
 
(3,396
)
 
(2,475
)
Net cash (used in) provided by financing activities
 
(2,800
)
 
24,079

 
(2,638
)
(Decrease) increase in cash and cash equivalents
 
(80
)
 
(3,676
)
 
3,823

Cash and cash equivalents at the beginning of the period
 
1,179

 
4,855

 
1,032

Cash and cash equivalents at the end of the period
 
$
1,099

 
$
1,179

 
$
4,855