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Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Financial Statements of Parent Company [Abstract]

Balance Sheet


		(In Thousands)
		2012				2011
Assets
Cash		$	1,173			$	983
Related party receivables:
Dividends & Accounts receivable from subsidiary			954				1,214
Note receivable from Bank subsidiary			15,000				15,000
Investment in subsidiary			94,540				89,178

Total Assets		$	111,667			$	106,375

Liabilities
Accrued expenses		$	497			$	394
Dividends payable			931				890

			1,428				1,284

Stockholders’ Equity
			110,239				105,091

Total Liabilities and Stockholders’ Equity		$	111,667			$	106,375

Statement of Income

Statement of Income


		(In Thousands)
		2012				2011				2010
Income
Dividends from subsidiary		$	3,870			$	4,000			$	4,205
Interest			713				713				713

Total Income			4,583				4,713				4,918

Operating Expenses			305				499				472

Income Before Income Taxes and Equity in Undistributed Earnings (Distributions in excess of earnings) and Subsidiary			4,278				4,214				4,446
Income Taxes			139				72				82

			4,139				4,142				4,364
Equity in undistributed earnings (Distributions in excess of earnings) of subsidiary			5,649				4,372				2,617

Net Income		$	9,788			$	8,514			$	6,981

Statements of Cash Flows

Statements of Cash Flows


		(In Thousands)
		2012				2011				2010
Cash Flows from Operating Activities
Net income		$	9,788			$	8,514			$	6,981
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Equity in undistributed net income (Distributions in excess earnings) of subsidiaries			(5,649	)			(4,372	)			(2,617	)
Changes in Assets and Liabilities:
Dividends receivable			260				(111	)			(42	)
Other Liabilities			282				231				101

Net Cash Provided by
Operating Activities			4,681				4,262				4,423
Cash Flows from Investing Activities
Return of Capital from Investment in Subsidiary			—				—				—
Cash Flows from Financing Activities
Payment of dividends			(3,597	)			(3,567	)			(3,402	)
Purchase of Treasury Stock			(894	)			(310	)			(894	)

Net Change in Cash and
Cash Equivalents			190				385				127
Cash and Cash Equivalents
Beginning of year			983				598				471

Cash and Cash Equivalents
End of year		$	1,173			$	983			$	598