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Parent Company Only Condensed Financial Information | 12 Months Ended
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Dec. 31, 2011
Parent Company Only Condensed Financial Information [Abstract] |
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION | NOTE 22 – PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of Central Federal Corporation follows: CONDENSED BALANCE SHEETS December 31, (dollars in thousands except per share data)
|  | 2011 |  |  | 2010 |
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 560 |  |  | $ | 745 |
Investment in banking subsidiary |  |  | 13,827 |  |  |  | 18,661 |
Investment in and advances to other subsidiaries |  |  | 1,212 |  |  |  | 1,851 |
Other assets |  |  | 264 |  |  |  | 94 |
Total assets |  | $ | 15,863 |  |  | $ | 21,351 |
Liabilities and Equity |  |  |  |  |  |  |  |
Subordinated debentures |  | $ | 5,155 |  |  | $ | 5,155 |
Accrued expenses and other liabilities |  |  | 764 |  |  |  | 207 |
Stockholders’ equity |  |  | 9,944 |  |  |  | 15,989 |
Total liabilities and stockholders’ equity |  | $ | 15,863 |  |  | $ | 21,351 |
CONDENSED STATEMENTS OF OPERATIONS Years ended December 31, (dollars in thousands except per share data)
|  | 2011 |  |  | 2010 |  |  | 2009 |
Interest income |  | $ | — |  |  | $ | — |  |  | $ | 20 |
Other income |  |  | — |  |  |  | — |  |  |  | 208 |
Interest expense |  |  | 168 |  |  |  | 167 |  |  |  | 196 |
Other expense |  |  | 663 |  |  |  | 567 |  |  |  | 425 |
Loss before income tax and undistributed subsidiaries’ operations |  |  | (831 | ) |  |  | (734 | ) |  |  | (393 | )
Income tax expense |  |  | — |  |  |  | — |  |  |  | (346 | )
Effect of subsidiaries’ operations |  |  | (4,594 | ) |  |  | (6,136 | ) |  |  | (9,152 | )
Net loss |  | $ | (5,425 | ) |  | $ | (6,870 | ) |  | $ | (9,891 | )
CONDENSED STATEMENTS OF CASH FLOWS Years ended December 31, (dollars in thousands except per share data)
|  | 2011 |  |  | 2010 |  |  | 2009 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (5,425 | ) |  | $ | (6,870 | ) |  | $ | (9,891 | )
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Effect of subsidiaries’ operations |  |  | 4,594 |  |  |  | 6,136 |  |  |  | 9,152 |
Net gain on acquisition |  |  | — |  |  |  | — |  |  |  | (208 | )
Stock-based compensation expense |  |  | — |  |  |  | 2 |  |  |  | 2 |
Change in other assets and other liabilities |  |  | 11 |  |  |  | (51 | ) |  |  | 848 |
Net cash from operating activities |  |  | (820 | ) |  |  | (783 | ) |  |  | (97 | )
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Investments in banking subsidiary |  |  | — |  |  |  | — |  |  |  | (7,225 | )
Investments in other subsidiaries |  |  | 635 |  |  |  | (8 | ) |  |  | (677 | )
Net cash from investing activities |  |  | 635 |  |  |  | (8 | ) |  |  | (7,902 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Costs associated with issuance of preferred stock |  |  | — |  |  |  | — |  |  |  | (13 | )
Dividends paid |  |  | — |  |  |  | (271 | ) |  |  | (546 | )
Net cash from financing activities |  |  | — |  |  |  | (271 | ) |  |  | (559 | )
Net change in cash and cash equivalents |  |  | (185 | ) |  |  | (1,062 | ) |  |  | (8,558 | )
Beginning cash and cash equivalents |  |  | 745 |  |  |  | 1,807 |  |  |  | 10,365 |
Ending cash and cash equivalents |  | $ | 560 |  |  | $ | 745 |  |  | $ | 1,807 |

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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 SEC -Name Regulation S-X (SX) -Number 210 -Article 9 -Section 06 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 7 -Section 05 -Paragraph c Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: 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=6881521&loc=d3e24072-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 7: 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=6921628&loc=d3e5283-111683 + Details
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