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CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY | 12 Months Ended
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Dec. 31, 2015
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY [Abstract] |
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY | 18. CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY The following is condensed financial information for Citizens Financial Services, Inc.:
CITIZENS FINANCIAL SERVICES, INC.
CONDENSED BALANCE SHEET
| December 31,
(in thousands) | 2015 | 2014
Assets: |  |
Cash | $ 4,593 | $ 7,911
Available-for-sale securities | 2,332 | 1,556
Investment in subsidiary: |  |
First Citizens Community Bank | 120,370 | 98,542
Other assets | 557 | 511
Total assets | $ 127,852 | $ 108,520
Liabilities: |  |
Other liabilities | $ 592 | $ 492
Borrowed funds | 7,500 | 7,500
Total liabilities | 8,092 | 7,992
Stockholders' equity | 119,760 | 100,528
Total liabilities and stockholders' equity | $ 127,852 | $ 108,520
CITIZENS FINANCIAL SERVICES, INC.
CONDENSED STATEMENT OF INCOME
| Year Ended December 31,
(in thousands) | 2015 | 2014 | 2013
Dividends from: |  |  |
Bank subsidiary | $ 5,582 | $ 14,332 | $ 4,142
Available-for-sale securities | 71 | 56 | 51
Total income | 5,653 | 14,388 | 4,193
Realized securities gains | 76 | - | 183
Expenses | 892 | 555 | 638
Income before equity |  |  |
in undistributed earnings |  |  |
of subsidiary | 4,837 | 13,833 | 3,738
Equity in undistributed |  |  |
earnings - First Citizens Community Bank | 6,789 | (448) | 9,637
Net income | $ 11,626 | $ 13,385 | $ 13,375
Comprehensive income | $ 10,623 | $ 15,377 | $ 7,519
CITIZENS FINANCIAL SERVICES, INC.
STATEMENT OF CASH FLOWS
| Year Ended December 31,
(in thousands) | 2015 | 2014 | 2013
Cash flows from operating activities: |  |  |
Net income | $ 11,626 | $ 13,385 | $ 13,375
Adjustments to reconcile net income to net |  |  |
cash provided by operating activities: |  |  |
Equity in undistributed earnings of subsidiaries | (6,789) | 448 | (9,637)
Investment securities gains, net | (76) | - | (183)
Other, net | 322 | 174 | 309
Net cash provided by operating activities | 5,083 | 14,007 | 3,864
Cash flows from investing activities: |  |  |
Purchases of available-for-sale securities | (901) | (602) | (1)
Proceeds from the sale of available-for-sale securities | 113 | - | 538
Net cash provided by (used in) investing activities | (788) | (602) | 537
Cash flows from financing activities: |  |  |
Cash dividends paid | (5,151) | (6,121) | (3,558)
Purchase of treasury stock | (2,455) | (814) | (1,483)
Purchase of restricted stock | (7) | (170) | (115)
Net cash used in financing activities | (7,613) | (7,105) | (5,156)
Net (decrease) increase in cash | (3,318) | 6,300 | (755)
Cash at beginning of year | 7,911 | 1,611 | 2,366
Cash at end of year | $ 4,593 | $ 7,911 | $ 1,611

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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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