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Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Parent Company Only Financial Statements | Note 25. Parent Company Only Financial Statements FIRST NATIONAL CORPORATION (Parent Company Only) Balance Sheets December 31, 2016 and 2015 (in thousands)
|  | 2016 |  |  | 2015 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 5,690 |  |  | $ | 4,412 |
Investment in subsidiaries, at cost, plus undistributed net income |  |  | 60,344 |  |  |  | 55,334 |
Other assets |  |  | 335 |  |  |  | 408 |
Total assets |  | $ | 66,369 |  |  | $ | 60,154 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Subordinated debt |  | $ | 4,930 |  |  | $ | 4,913 |
Junior subordinated debt |  |  | 9,279 |  |  |  | 9,279 |
Other liabilities |  |  | 9 |  |  |  | 9 |
Total liabilities |  | $ | 14,218 |  |  | $ | 14,201 |
Preferred stock |  | $ | — |  |  | $ | — |
Common stock |  |  | 6,162 |  |  |  | 6,145 |
Surplus |  |  | 7,093 |  |  |  | 6,956 |
Retained earnings |  |  | 39,756 |  |  |  | 34,440 |
Accumulated other comprehensive loss, net |  |  | (860 | ) |  |  | (1,588 | )
Total shareholders’ equity |  | $ | 52,151 |  |  | $ | 45,953 |
Total liabilities and shareholders’ equity |  | $ | 66,369 |  |  | $ | 60,154 |
FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Income Years Ended December 31, 2016 and 2015 (in thousands)
|  | 2016 |  |  | 2015 |
Income |  |  |  |  |  |  |  |
Dividends from subsidiary |  | $ | 2,325 |  |  | $ | 13,500 |
Total income |  | $ | 2,325 |  |  | $ | 13,500 |
Expense |  |  |  |  |  |  |  |
Interest expense |  | $ | 620 |  |  | $ | 286 |
Supplies |  |  | 2 |  |  |  | 17 |
Legal and professional fees |  |  | 104 |  |  |  | 78 |
Data processing |  |  | 61 |  |  |  | 60 |
Management fee-subsidiary |  |  | 258 |  |  |  | 250 |
Other expense |  |  | 17 |  |  |  | 21 |
Total expense |  | $ | 1,062 |  |  | $ | 712 |
Income before allocated tax benefits and undistributed income of subsidiary |  | $ | 1,263 |  |  | $ | 12,788 |
Allocated income tax benefit |  |  | 361 |  |  |  | 242 |
Income before equity in undistributed income of subsidiary |  | $ | 1,624 |  |  | $ | 13,030 |
Equity in undistributed (distributed) income of subsidiary |  |  | 4,283 |  |  |  | (10,375 | )
Net income |  | $ | 5,907 |  |  | $ | 2,655 |
Effective dividend on preferred stock |  |  | — |  |  |  | 1,113 |
Net income available to common shareholders |  | $ | 5,907 |  |  | $ | 1,542 |
FIRST NATIONAL CORPORATION (Parent Company Only) Statements of Cash Flows Years Ended December 31, 2016 and 2015 (in thousands)
|  | 2016 |  |  | 2015 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |
Net income |  | $ | 5,907 |  |  | $ | 2,655 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Equity in undistributed (income) loss of subsidiary |  |  | (4,283 | ) |  |  | 10,375 |
Amortization of debt issuance costs |  |  | 17 |  |  |  | 3 |
Decrease in other assets |  |  | 74 |  |  |  | 279 |
Increase in other liabilities |  |  | — |  |  |  | 1 |
Net cash provided by operating activities |  | $ | 1,715 |  |  | $ | 13,313 |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |
Proceeds from subordinated debt, net of issuance costs |  | $ | — |  |  | $ | 4,910 |
Cash dividends paid on common stock, net of reinvestment |  |  | (550 | ) |  |  | (454 | )
Cash dividends paid on preferred stock |  |  | — |  |  |  | (1,281 | )
Net proceeds from issuance of common stock |  |  | 113 |  |  |  | 99 |
Repurchase of common stock |  |  | — |  |  |  | (1 | )
Redemption of preferred stock |  |  | — |  |  |  | (14,595 | )
Net cash used in financing activities |  | $ | (437 | ) |  | $ | (11,322 | )
Increase in cash and cash equivalents |  | $ | 1,278 |  |  | $ | 1,991 |
Cash and Cash Equivalents |  |  |  |  |  |  |  |
Beginning |  |  | 4,412 |  |  |  | 2,421 |
Ending |  | $ | 5,690 |  |  | $ | 4,412 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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