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Condensed Financial Statements of Parent Company

12 Months Ended

Dec. 31, 2011

Condensed Financial Statements of Parent Company [Abstract]

Condensed Financial Statements of Parent Company

Note 17 - Condensed Financial Statements of Parent Company

Balance Sheet


	(In Thousands)
	2011		2010
Assets
Cash	$	983	$	598
Related party receivables:
Dividends & Accounts receivable from subsidiary		1,214		1,103
Note receivable from Bank subsidiary		15,000		15,000
Investment in subsidiary		89,178		78,963


Total Assets	$	106,375	$	95,664

Liabilities
Accrued expenses	$	394	$	367
Dividends payable		890		894

Total Liabilities		1,284		1,261

Stockholders’ Equity
Total Stockholders’ Equity		105,091		94,403


Total Liabilities and Stockholders’ Equity	$	106,375	$	95,664

Statement of Income


	(In Thousands)
	2011		2010		2009
Income
Dividends from subsidiary	$	4,000	$	4,205	$	3,940
Interest		713		713		713

Total Income		4,713		4,918		4,653

Operating Expenses		499		472		460

Income Before Income Taxes and Equity in Undistributed Earnings (Distributions in excessof earnings) and Subsidiary		4,214		4,446		4,193
Income Taxes		72		82		161

		4,142		4,364		4,032

Equity in undistributed earnings (Distributions inexcess of earnings) of subsidiary		4,372		2,617		2,573

Net Income	$	8,514	$	6,981	$	6,605

Statements of Cash Flows


	(In Thousands)
	2011			2010			2009
Cash Flows from Operating Activities
Net income	$	8,514		$	6,981		$	6,605
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Equity in undistributed net income (Distributions in excess earnings) of subsidiaries		(4,372	)		(2,617	)		(2,573	)
Changes in Assets and Liabilities:
Account receivable		—			—			—
Dividends receivable		(111	)		(42	)		(97	)
Other Liabilities		229			101			193

Net Cash Provided by Operating Activities		4,260			4,423			4,128
Cash Flows from Investing Activities
Return of Capital from Investment in Subsidiary		—			—			—
Cash Flows from Financing Activities
Payment of dividends		(3,566	)		(3,402	)		(3,417	)
Purchase of Treasury Stock		(309	)		(894	)		(555	)

Net Change in Cash and Cash Equivalents		385			127			156
Cash and Cash Equivalents
Beginning of year		598			471			315

Cash and Cash Equivalents
End of year	$	983		$	598		$	471

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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