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Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Balance Sheets | FIRST NATIONAL CORPORATION (Parent Company Only) Balance Sheets December 31, 2014 and 2013 (in thousands)
|  | 2014 |  |  | 2013 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 2,421 |  |  | $ | 5,395 |
Investment in subsidiaries, at cost, plus undistributed net income |  |  | 65,744 |  |  |  | 56,982 |
Other assets |  |  | 685 |  |  |  | 470 |
Total assets |  | $ | 68,850 |  |  | $ | 62,847 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Trust preferred capital notes |  | $ | 9,279 |  |  | $ | 9,279 |
Other liabilities |  |  | 7 |  |  |  | 8 |
Total liabilities |  | $ | 9,286 |  |  | $ | 9,287 |
Preferred stock |  | $ | 14,595 |  |  | $ | 14,564 |
Common stock |  |  | 6,131 |  |  |  | 6,127 |
Surplus |  |  | 6,835 |  |  |  | 6,813 |
Retained earnings |  |  | 33,557 |  |  |  | 27,360 |
Accumulated other comprehensive loss, net |  |  | (1,554 | ) |  |  | (1,304 | )
Total shareholders’ equity |  | $ | 59,564 |  |  | $ | 53,560 |
Total liabilities and shareholders’ equity |  | $ | 68,850 |  |  | $ | 62,847 |
Statements of Income | FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Income Three Years Ended December 31, 2014 (in thousands)
|  | 2014 |  |  | 2013 |  |  | 2012 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Dividends from subsidiary |  | $ | — |  |  | $ | — |  |  | $ | 500 |
Gain on sale of securities available for sale |  |  | — |  |  |  | — |  |  |  | 139 |
Other income |  |  | 26 |  |  |  | 51 |  |  |  | 41 |
|  | $ | 26 |  |  | $ | 51 |  |  | $ | 680 |
Expense |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | 218 |  |  | $ | 222 |  |  | $ | 237 |
Stationery and supplies |  |  | 18 |  |  |  | 17 |  |  |  | 1 |
Legal and professional fees |  |  | 37 |  |  |  | 40 |  |  |  | — |
Data processing |  |  | 67 |  |  |  | 53 |  |  |  | — |
Management fee-subsidiary |  |  | 251 |  |  |  | 95 |  |  |  | — |
Other expense |  |  | 13 |  |  |  | 51 |  |  |  | 6 |
Total expense |  | $ | 604 |  |  | $ | 478 |  |  | $ | 244 |
Income (loss) before allocated tax benefits and undistributed income of subsidiary |  | $ | (578 | ) |  | $ | (427 | ) |  | $ | 436 |
Allocated income tax benefit |  |  | 197 |  |  |  | 145 |  |  |  | 22 |
Income (loss) before equity in undistributed income of subsidiary |  | $ | (381 | ) |  | $ | (282 | ) |  | $ | 458 |
Equity in undistributed income of subsidiary |  |  | 8,012 |  |  |  | 10,156 |  |  |  | 2,342 |
Net income |  | $ | 7,631 |  |  | $ | 9,874 |  |  | $ | 2,800 |
Effective dividend and accretion on preferred stock |  |  | 1,138 |  |  |  | 913 |  |  |  | 904 |
Net income available to common shareholders |  | $ | 6,493 |  |  | $ | 8,961 |  |  | $ | 1,896 |
Statements of Cash Flows | FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Cash Flows Three Years Ended December 31, 2014 (in thousands)
|  | 2014 |  |  | 2013 |  |  | 2012 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 7,631 |  |  | $ | 9,874 |  |  | $ | 2,800 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed income of subsidiary |  |  | (8,012 | ) |  |  | (10,156 | ) |  |  | (2,342 | )
Gain on sale of securities available for sale |  |  | — |  |  |  | — |  |  |  | (139 | )
(Increase) decrease in other assets |  |  | (216 | ) |  |  | 29 |  |  |  | (42 | )
Decrease in other liabilities |  |  | — |  |  |  | — |  |  |  | (2 | )
Net cash provided by (used in) operating activities |  | $ | (597 | ) |  | $ | (253 | ) |  | $ | 275 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sale of securities available for sale |  | $ | — |  |  | $ | — |  |  | $ | 164 |
Distribution of capital to subsidiary |  |  | (1,000 | ) |  |  | — |  |  |  | (1,000 | )
Net cash used in investing activities |  | $ | (1,000 | ) |  | $ | — |  |  | $ | (836 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid on common stock, net of reinvestment |  | $ | (342 | ) |  | $ | — |  |  | $ | — |
Cash dividends paid on preferred stock |  |  | (1,035 | ) |  |  | (758 | ) |  |  | (758 | )
Net proceeds from issuance of common stock |  |  | — |  |  |  | — |  |  |  | 7,601 |
Net cash provided by (used in) financing activities |  | $ | (1,377 | ) |  | $ | (758 | ) |  | $ | 6,843 |
Increase (decrease) in cash and cash equivalents |  | $ | (2,974 | ) |  | $ | (1,011 | ) |  | $ | 6,282 |
Cash and Cash Equivalents |  |  |  |  |  |  |  |  |  |  |  |
Beginning |  |  | 5,395 |  |  |  | 6,406 |  |  |  | 124 |
Ending |  | $ | 2,421 |  |  | $ | 5,395 |  |  | $ | 6,406 |

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