Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2013

Parent Company Only Financial Information [Abstract]

Parent Company Only Financial Information

Condensed Statement of Financial Condition




		December 31,
(In thousands)		2013		2012
Assets
Cash	$	3,025	$	2,449
Investment in bank subsidiary		151,711		146,876
Investment in non-bank subsidiaries		4,036		4,195
Other assets		4,031		2,802
Total Assets	$	162,803	$	156,322

Liabilities and Shareholder’s Equity
Accrued interest and other liabilities	$	14,733	$	10,687
Dividends payable		0		0
Junior subordinated debt		46,730		46,730
Shareholder’s equity		101,340		98,905
Total Liabilities and Shareholder’s Equity	$	162,803	$	156,322

Condensed Statement of Income



		Year Ended
		December 31,
(In thousands)		2103		2012
Income:
Dividend income from bank subsidiary	$	0	$	0
Other income		469		338
Total Income		469		338

Expenses:
Interest expense		2,881		2,802
Other expenses		513		384
Total Expenses		3,394		3,186

Loss before income taxes and equity in undistributed
net loss of subsidiaries		(2,925)		(2,848)
Applicable income tax benefit		1,002		0
Net loss before equity in undistributed net loss of subsidiaries		(1,923)		(2,848)

Equity in undistributed net income/(loss)of subsidiaries:
Bank		8,395		7,462
Non-bank		(26)		49
Net Income	$	6,446	$	4,663

Condensed Statement of Comprehensive Income


	Year ended
	December 31,
Components of Comprehensive Income (in thousands)	2013		2012
Net Income	$	6,446	$	4,663

Unrealized gains on cash flow hedges, net of tax		233		109

Other comprehensive income, net of tax		233		109

Comprehensive income	$	6,679	$	4,772

Condensed Statement of Cash Flows



		Year Ended
		December 31,
(In thousands)		2013		2012
Operating Activities
Net Income	$	6,446	$	4,663
Adjustments to reconcile net income to net cash provided
by/(used in) operating activities:
Equity in undistributed net income of subsidiaries		(8,369)		(7,511)
Increase in other assets		(993)		(303)
Increase in accrued interest payable and other liabilities		4,047		3,958
Stock Compensation		88		73
Net cash provided by operating activities		1,219		880

Investing Activities
Net investment in subsidiaries		1,066		1,252
Net cash provided by investing activities		1,066		1,252

Financing Activities
Dividends - preferred stock deferred		(1,709)		(1,626)
Net cash used in financing activities		(1,709)		(1,626)
Increase in cash and cash equivalents		576		506
Cash and cash equivalents at beginning of year		2,449		1,943
Cash and cash equivalents at end of year	$	3,025	$	2,449

Accumulated Other Comprehensive Income


Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the period ended December 31, 2013
Cash flow hedges:
Unrealized holding gains	$	392	$	(159)	$	233

Other comprehensive income	$	392	$	(159)	$	233

For the period ended December 31, 2012
Cash flow hedges:
Unrealized holding gains	$	185	$	(76)	$	109

Other comprehensive income	$	185	$	(76)	$	109

- 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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