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Parent Company Only Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Parent Company Only Financial Information [Abstract] |
Condensed Statement of Financial Condition |
|  | December 31,
(In thousands) |  | 2014 |  | 2013
Assets |  |  |  |
Cash | $ | 1,036 | $ | 3,025
Investment in bank subsidiary |  | 150,209 |  | 152,254
Investment in non-bank subsidiaries |  | 1,255 |  | 4,036
Other assets |  | 5,872 |  | 4,031
Total Assets | $ | 158,372 | $ | 163,346
Liabilities and Shareholder’s Equity |  |  |  |
Accrued interest and other liabilities | $ | 2,643 | $ | 14,733
Dividends payable |  | 0 |  | 0
Junior subordinated debt |  | 46,730 |  | 46,730
Shareholder’s equity |  | 108,999 |  | 101,883
Total Liabilities and Shareholder’s Equity | $ | 158,372 | $ | 163,346
Condensed Statements of Income |
|  | Year Ended
|  | December 31,
(In thousands) |  | 2014 |  | 2013
Income: |  |  |  |
Dividend income from bank subsidiary | $ | 10,972 | $ | 0
Other income |  | 240 |  | 469
Total Income |  | 11,212 |  | 469
Expenses: |  |  |  |
Interest expense |  | 2,492 |  | 2,881
Other expenses |  | 354 |  | 513
Total Expenses |  | 2,846 |  | 3,394
Income/(loss) before income taxes and equity in undistributed |  |  |  |
net loss of subsidiaries |  | 8,366 |  | (2,925)
Applicable income tax benefit |  | 3,120 |  | 1,002
Net income/(loss) before equity in undistributed net loss of subsidiaries |  | 11,486 |  | (1,923)
Equity in undistributed net (loss)/income of subsidiaries: |  |  |  |
Bank |  | (5,870) |  | 8,424
Non-bank |  | (19) |  | (26)
Net Income | $ | 5,597 | $ | 6,475
Condensed Statement of Comprehensive Income |
| Year Ended
| December 31,
Components of Comprehensive Income (in thousands) | 2014 | 2013
Net Income | $ | 5,597 | $ | 6,475
Unrealized gains on cash flow hedges, net of tax |  | 155 |  | 233
Other comprehensive income, net of tax |  | 155 |  | 233
Comprehensive income | $ | 5,752 | $ | 6,708
Condensed Cash Flow Statement | Condensed Statement of Cash Flows
|  | Year Ended
|  | December 31,
(In thousands) |  | 2014 |  | 2013
Operating Activities |  |  |  |
Net Income | $ | 5,597 | $ | 6,475
Adjustments to reconcile net income to net cash (used in)/provided |  |  |  |
by operating activities: |  |  |  |
Equity in undistributed net income of subsidiaries |  | 5,889 |  | (8,398)
Increase in other assets |  | (1,686) |  | (993)
(Decrease)/increase in accrued interest payable and other liabilities |  | (12,089) |  | 4,047
Stock Compensation |  | 134 |  | 88
Net cash (used in)/provided by operating activities |  | (2,155) |  | 1,219
Investing Activities |  |  |  |
Net investment in subsidiaries |  | 2,761 |  | 1,066
Net cash provided by investing activities |  | 2,761 |  | 1,066
Financing Activities |  |  |  |
Dividends – common stock |  | 0 |  | 0
Dividends – preferred stock paid |  | 0 |  | 0
Dividends - preferred stock paid |  | (2,595) |  | (1,709)
Proceeds from issuance of common stock |  | 0 |  | 0
Proceeds from long-term borrowings |  | 0 |  | 0
Net cash used in financing activities |  | (2,595) |  | (1,709)
(Decrease)increase in cash and cash equivalents |  | (1,989) |  | 576
Cash and cash equivalents at beginning of year |  | 3,025 |  | 2,449
Cash and cash equivalents at end of year | $ | 1,036 | $ | 3,025
Condensed Statement of Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income
Components of Comprehensive Income (in thousands) | Before Tax Amount | Tax (Expense) Benefit | Net
For the period ended December 31, 2014 |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |
Unrealized holding gains | $ | 258 | $ | (103) | $ | 155
Other comprehensive income | $ | 258 | $ | (103) | $ | 155
For the period ended December 31, 2013 |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |
Unrealized holding gains | $ | 392 | $ | (159) | $ | 233
Other comprehensive income | $ | 392 | $ | (159) | $ | 233

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