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Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Balance Sheets | FIRST NATIONAL CORPORATION (Parent Company Only) Balance Sheets December 31, 2015 and 2014 (in thousands)
|  | 2015 |  |  | 2014 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 4,412 |  |  | $ | 2,421 |
Investment in subsidiaries, at cost, plus |  |  |  |  |  |  |  |
undistributed net income |  |  | 55,334 |  |  |  | 65,744 |
Other assets |  |  | 408 |  |  |  | 685 |
Total assets |  | $ | 60,154 |  |  | $ | 68,850 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Subordinated debt |  | $ | 4,913 |  |  | $ | — |
Junior subordinated debt |  |  | 9,279 |  |  |  | 9,279 |
Other liabilities |  |  | 9 |  |  |  | 7 |
Total liabilities |  | $ | 14,201 |  |  | $ | 9,286 |
Preferred stock |  | $ | — |  |  | $ | 14,595 |
Common stock |  |  | 6,145 |  |  |  | 6,131 |
Surplus |  |  | 6,956 |  |  |  | 6,835 |
Retained earnings |  |  | 34,440 |  |  |  | 33,557 |
Accumulated other comprehensive loss, net |  |  | (1,588 | ) |  |  | (1,554 | )
Total shareholders’ equity |  | $ | 45,953 |  |  | $ | 59,564 |
Total liabilities and shareholders’ equity |  | $ | 60,154 |  |  | $ | 68,850 |
Statements of Income | FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Income Years Ended December 31, 2015 and 2014 (in thousands)
|  | 2015 |  |  | 2014 |
Income |  |  |  |  |  |  |  |
Dividends from subsidiary |  | $ | 13,500 |  |  | $ | — |
Other income |  |  | — |  |  |  | 26 |
|  | $ | 13,500 |  |  | $ | 26 |
Expense |  |  |  |  |  |  |  |
Interest expense |  | $ | 286 |  |  | $ | 218 |
Supplies |  |  | 17 |  |  |  | 18 |
Legal and professional fees |  |  | 78 |  |  |  | 37 |
Data processing |  |  | 60 |  |  |  | 67 |
Management fee-subsidiary |  |  | 250 |  |  |  | 251 |
Other expense |  |  | 21 |  |  |  | 13 |
Total expense |  | $ | 712 |  |  | $ | 604 |
Income (loss) before allocated tax benefits and undistributed income of subsidiary |  | $ | 12,788 |  |  | $ | (578 | )
Allocated income tax benefit |  |  | 242 |  |  |  | 197 |
Income (loss) before equity in undistributed income of subsidiary |  | $ | 13,030 |  |  | $ | (381 | )
Equity in (distributed) undistributed income of subsidiary |  |  | (10,375 | ) |  |  | 8,012 |
Net income |  | $ | 2,655 |  |  | $ | 7,631 |
Effective dividend and accretion on preferred stock |  |  | 1,113 |  |  |  | 1,138 |
Net income available to common shareholders |  | $ | 1,542 |  |  | $ | 6,493 |
Statements of Cash Flows | FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Cash Flows Years Ended December 31, 2015 and 2014 (in thousands)
|  | 2015 |  |  | 2014 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |
Net income |  | $ | 2,655 |  |  | $ | 7,631 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |
Equity in undistributed loss (income) of subsidiary |  |  | 10,375 |  |  |  | (8,012 | )
Amortization of debt issuance costs |  |  | 3 |  |  |  | — |
(Increase) decrease in other assets |  |  | 279 |  |  |  | (216 | )
Increase in other liabilities |  |  | 1 |  |  |  | — |
Net cash provided by (used in) operating activities |  | $ | 13,313 |  |  | $ | (597 | )
Cash Flows from Investing Activities |  |  |  |  |  |  |  |
Distribution of capital to subsidiary |  | $ | — |  |  | $ | (1,000 | )
Net cash used in investing activities |  | $ | — |  |  | $ | (1,000 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |
Proceeds from subordinated debt, net of issuance costs |  | $ | 4,910 |  |  | $ | — |
Cash dividends paid on common stock, net of reinvestment |  |  | (454 | ) |  |  | (342 | )
Cash dividends paid on preferred stock |  |  | (1,281 | ) |  |  | (1,035 | )
Net proceeds from issuance of common stock |  |  | 99 |  |  |  | — |
Repurchase of common stock |  |  | (1 | ) |  |  | — |
Redemption of preferred stock |  |  | (14,595 | ) |  |  | — |
Net cash used in financing activities |  | $ | (11,322 | ) |  | $ | (1,377 | )
Increase (decrease) in cash and cash equivalents |  | $ | 1,991 |  |  | $ | (2,974 | )
Cash and Cash Equivalents |  |  |  |  |  |  |  |
Beginning |  |  | 2,421 |  |  |  | 5,395 |
Ending |  | $ | 4,412 |  |  | $ | 2,421 |

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