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CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY (Tables) | 12 Months Ended
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Dec. 31, 2015
CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY [Abstract] |
Condensed financial information | 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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