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Condensed Financial Statements of Parent Company | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Statements of Parent Company | Note 18 – Condensed Financial Statements of Parent Company
Balance Sheets |
|  | (In Thousands) |
|  | 2015 |  |  | 2014 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 787 |  |  | $ | 302 |
Related party receivables: |  |  |  |  |  |  |  |
Dividends & Accounts receivable from subsidiaries |  |  | 1,730 |  |  |  | 2,227 |
Accrued interest receivable Municipals |  |  | 63 |  |  |  | 58 |
Securities - Municipals |  |  | 16,388 |  |  |  | 14,998 |
Investment in subsidiaries |  |  | 102,178 |  |  |  | 98,088 |
Total Assets |  | $ | 121,146 |  |  | $ | 115,673 |
Liabilities |  |  |  |  |  |  |  |
Accrued expenses |  | $ | 42 |  |  | $ | 215 |
Dividends payable |  |  | 1,007 |  |  |  | 965 |
Total Liabilities |  |  | 1,049 |  |  |  | 1,180 |
Stockholders’ Equity |  |  | 120,097 |  |  |  | 114,493 |
Total Liabilities and Stockholders’ Equity |  | $ | 121,146 |  |  | $ | 115,673 |
Statements of Income and Comprehensive Income
|  | (In Thousands) |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 6,220 |  |  | $ | 5,725 |  |  | $ | 3,830 |
Interest |  |  | — |  |  |  | — |  |  |  | 566 |
Interest Municipals |  |  | 219 |  |  |  | 215 |  |  |  | 30 |
Gain on sales of available-for-sale securities |  |  | 124 |  |  |  | — |  |  |  | — |
Total Income |  |  | 6,563 |  |  |  | 5,940 |  |  |  | 4,426 |
Operating Expenses |  |  | 677 |  |  |  | 577 |  |  |  | 304 |
Income Before Income Taxes and Equity in |  |  |  |  |  |  |  |  |  |  |  |
Undistributed Earnings of Subsidiaries |  |  | 5,886 |  |  |  | 5,363 |  |  |  | 4,122 |
Income Taxes (Benefit) |  |  | (188 | ) |  |  | (196 | ) |  |  | 89 |
|  |  | 6,074 |  |  |  | 5,559 |  |  |  | 4,033 |
Equity in undistributed earnings of Subsidiaries |  |  | 4,266 |  |  |  | 4,087 |  |  |  | 4,974 |
Net Income |  | $ | 10,340 |  |  | $ | 9,646 |  |  | $ | 9,007 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gains (losses) on securities |  | $ | (232 | ) |  | $ | 438 |  |  | $ | (6,087 | )
Comprehensive Income |  | $ | 10,108 |  |  | $ | 10,084 |  |  | $ | 2,920 |
Statements of Cash Flows |  |  |  |
|  | (In Thousands) |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 10,340 |  |  | $ | 9,646 |  |  | $ | 9,007 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income (Distributions in excess earnings) of subsidiaries |  |  | (4,266 | ) |  |  | (4,087 | ) |  |  | (4,974 | )
Accretion & Amortization of Securities |  |  | 152 |  |  |  | 146 |  |  |  | 21 |
Gain on Sale of Available for Sale Securities |  |  | (124 | ) |  |  | — |  |  |  | — |
Changes in Assets and Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Dividends receivable |  |  | 475 |  |  |  | (1,025 | ) |  |  | (10 | )
Other Assets and Liabilities |  |  | 156 |  |  |  | (12 | ) |  |  | 52 |
Net Cash Provided by Operating Activities |  |  | 6,733 |  |  |  | 4,668 |  |  |  | 4,096 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Investing in Subsidiaries |  |  | — |  |  |  | (250 | ) |  |  | — |
Activitiy in available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Maturities, prepayments and calls |  |  | 1,000 |  |  |  | — |  |  |  | — |
Sales |  |  | 6,282 |  |  |  | — |  |  |  | — |
Purchases |  |  | (8,784 | ) |  |  | — |  |  |  | (14,992 | )
Repayment of Subsidiary Subordinated Debt |  |  | — |  |  |  | — |  |  |  | 15,000 |
Net Cash Provided by (used in) Investing Activities |  |  | (1,502 | ) |  |  | (250 | ) |  |  | 8 |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Payment of dividends |  |  | (3,943 | ) |  |  | (3,862 | ) |  |  | (3,719 | )
Purchase of Treasury Stock |  |  | (803 | ) |  |  | (576 | ) |  |  | (1,236 | )
Net Cash Used in Financing Activities |  |  | (4,746 | ) |  |  | (4,438 | ) |  |  | (4,955 | )
Net Change in Cash and |  |  |  |  |  |  |  |  |  |  |  |
Cash Equivalents |  |  | 485 |  |  |  | (20 | ) |  |  | (851 | )
Cash and Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |
Beginning of year |  |  | 302 |  |  |  | 322 |  |  |  | 1,173 |
Cash and Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |
End of year |  | $ | 787 |  |  | $ | 302 |  |  | $ | 322 |
The intercompany subordinated debt between the Company and the Bank matured during the fourth quarter of 2013. The Company invested the proceeds into tax exempt municipal securities, thereby replacing a revenue stream independent of dividends from the Bank with which to operate. The Company also benefits from a more favorable tax treatment for these holdings. During the fourth quarter of 2014, the Company established a new subsidiary, Farmers & Merchants Risk Management, Inc. which is a Captive insurance company.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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