Condensed Financial Information of the Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Balance Sheets
	December 31,
(in thousands)	2016			2015
Assets
Cash and due from bank subsidiaries		$	3,945		$	4,971
Investment in equity securities			1,486			1,486
Investment in subsidiaries			139,686			134,099
Deferred tax asset			2,558			2,116
Other assets			23			7
Total assets		$	147,698		$	142,679
Liabilities and Stockholders’ Equity
Subordinated notes		$	49,486		$	49,486
Other liabilities			7,195			5,907
Stockholders’ equity			91,017			87,286
Total liabilities and stockholders’ equity		$	147,698		$	142,679

Condensed Statements of Income
	For the Years Ended December 31,
	2016			2015			2014
Income
Interest and dividends received from subsidiaries		$	46		$	1,039		$	2,538
Total income			46			1,039			2,538
Expenses
Interest on subordinated notes			1,494			1,293			1,264
Other			2,039			2,138			1,730
Total expenses			3,533			3,431			2,994
Income before income tax benefit and equity in undistributed income of subsidiaries			(3,487)			(2,392)			(456)
Income tax benefit			1,337			1,065			1,100
Equity in undistributed income of subsidiaries			9,432			9,926			7,010
Net income		$	7,282		$	8,599		$	7,654

Condensed Statements of Cash Flows
	For the Years Ended December 31,
(in thousands)	2016			2015			2014
Cash flows from operating activities:
Net income		$	7,282		$	8,599		$	7,654
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiaries			(9,432)			(9,926)			(7,010)
Stock based compensation expense			17			10			20
Increase in deferred tax asset			(442)			(127)			(1,415)
Other, net			769			732			1,942
Net cash (used) provided by operating activities		$	(1,806)		$	(712)		$	1,191
Cash flows from investing activities:
Investment in subsidiary		$	2,500		$	5,750		$	400
Net cash provided by investing activities		$	2,500		$	5,750		$	400
Cash flows from financing activities:
Cash dividends paid - common stock		$	(1,097)		$	(1,058)		$	(1,017)
Purchase of treasury stock			(623)			(33)			0
Net cash used in financing activities		$	(1,720)		$	(1,091)		$	(1,017)
Net (decrease) increase in cash and due from banks			(1,026)			3,947			574
Cash and due from banks at beginning of year			4,971			1,024			450
Cash and due from banks at end of year		$	3,945		$	4,971		$	1,024