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Norwood Financial Corp (Parent Company Only) Financial Information (Tables) - Parent Company [Member]
 12 Months Ended
Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]  
Parent Company Only - Balance Sheets



 

 

 

 

 

 



 

 

 

 

 

 



 

December 31,



 

2017

 

2016



 

(In Thousands)

ASSETS

 

 

 

 

 

 

Cash on deposit in bank subsidiary

 

$

 4,782 

 

$

 3,005 

Securities available for sale

 

 

 -

 

 

 397 

Investment in bank subsidiary

 

 

 110,218 

 

 

 105,138 

Other assets

 

 

 2,858 

 

 

 4,539 

   Total assets

 

$

 117,858 

 

$

 113,079 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

Liabilities

 

$

 2,119 

 

$

 2,000 

Stockholders’ equity

 

 

 115,739 

 

 

 111,079 

   Total liabilities and stockholders' equity

 

$

 117,858 

 

$

 113,079 



Parent Company Only - Statements of Income

STATEMENTS OF INCOME





 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Years Ended December 31,



 

2017

 

2016

 

2015

Income:

 

(In Thousands)

Dividends from bank subsidiary

 

$

 5,412 

 

$

 28,598 

 

$

 4,574 

Net realized gain on sales of securities

 

 

 130 

 

 

 -

 

 

 -

Other interest income

 

 

 8 

 

 

 12 

 

 

 11 



 

 

 5,550 

 

 

 28,610 

 

 

 4,585 

Expenses

 

 

 511 

 

 

 1,347 

 

 

 313 



 

 

 5,039 

 

 

 27,263 

 

 

 4,272 

Income tax benefit

 

 

 (127)

 

 

 (225)

 

 

 (103)



 

 

 5,166 

 

 

 27,488 

 

 

 4,375 

Equity in undistributed earnings of subsidiary

 

 

 3,032 

 

 

 (20,777)

 

 

 1,533 

Net Income

 

$

 8,198 

 

$

 6,711 

 

$

 5,908 

Comprehensive Income

 

$

 10,084 

 

$

 2,104 

 

$

 5,934 



Parent Company Only - Statements of Cash Flows

STATEMENTS OF CASH FLOWS





 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Years Ended December 31,



 

2017

 

2016

 

2015



 

(In Thousands)

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

 

Net income

 

$

 8,198 

 

$

 6,711 

 

$

 5,908 

Adjustments to reconcile net income to

 

 

 

 

 

 

 

 

 

net cash provided by operating activities:

 

 

 

 

 

 

 

 

 

Undistributed earnings of bank subsidiary

 

 

 (3,032)

 

 

 20,777 

 

 

 (1,533)

Net gains on sales of securities

 

 

 (130)

 

 

 -

 

 

 -

Decrease in prepaid federal income tax

 

 

 1,736 

 

 

 -

 

 

 -

Other, net

 

 

 389 

 

 

 (267)

 

 

 (3)

Net Cash Provided by Operating Activities

 

 

 7,161 

 

 

 27,221 

 

 

 4,372 



 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

 

 

 

   Proceeds from sales of securities

 

 

 422 

 

 

 -

 

 

 -

   Outlays for business acquisitions

 

 

 -

 

 

 (2,324)

 

 

 -

Net Cash Provided by (Used in) Investing Activities

 

 

 422 

 

 

 (2,324)

 

 

 -



 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

 

  Repayment of borrowings

 

 

 -

 

 

 (19,856)

 

 

 -

   Stock options exercised

 

 

 1,040 

 

 

 843 

 

 

 441 

   ESOP purchase of shares from treasury stock

 

 

 127 

 

 

 131 

 

 

 146 

   Purchase of treasury stock

 

 

 (1,587)

 

 

 (447)

 

 

 (127)

   Cash dividends paid

 

 

 (5,386)

 

 

 (4,714)

 

 

 (4,527)

Net Cash Used in Financing Activities

 

 

 (5,806)

 

 

 (24,043)

 

 

 (4,067)

Net Increase in Cash and Cash Equivalents

 

 

 1,777 

 

 

 854 

 

 

 305 



 

 

 

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS - BEGINNING

 

 

 3,005 

 

 

 2,151 

 

 

 1,846 

CASH AND CASH EQUIVALENTS - ENDING

 

$

 4,782 

 

$

 3,005 

 

$

 2,151