Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2015



	2015		2014
Assets
Cash and cash equivalents	$	2,673	$	3,025
Investment in banking subsidiary		37,745		34,572
Investment in and advances to other subsidiary		222		220
Other assets		3,112		2,202
Total assets	$	43,752	$	40,019

Liabilities and Equity
Subordinated debentures	$	5,155	$	5,155
Accrued expenses and other liabilities		285		355
Stockholders' equity		38,312		34,509
Total liabilities and stockholders' equity	$	43,752	$	40,019



	2015		2014

Interest income	$	1	$	5
Other income		291		260
Interest expense		164		164
Other expense		548		687
Loss before income tax and undistributed subsidiary income		(420)		(586)
Tax effect		1,798		-
Gain (loss) after income tax and undistributed subsidiary income		1,378		(586)
Equity in undistributed subsidiary income		3,099		1,065
Net income	$	4,477	$	479
Comprehensive income	$	4,417	$	432


	2015		2014
Cash flows from operating activities
Net Income	$	4,477	$	479
Adjustments:
Effect of subsidiaries' operations		(3,099)		(1,065)
Change in other assets and other liabilities		(980)		(1,142)
Net cash from (used by) operating activities		398		(1,728)

Cash flows from investing activities
Investment in bank subsidiary		-		(9,700)
Investments in other subsidiaries		-		54
Net cash used by investing activities		-		(9,646)

Cash flows from financing activities
Stock issuance costs		-		-
Dividends paid on Series B preferred stock		(750)		(233)
Net proceeds from issuance of Series B preferred stock		-		11,369
Net cash from (used by) financing activities		(750)		11,136

Net change in cash and cash equivalents		(352)		(238)

Beginning cash and cash equivalents		3,025		3,263

Ending cash and cash equivalents	$	2,673	$	3,025