XML 58 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 19 - Parent Company-only Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2017
Notes Tables  
Condensed Balance Sheet [Table Text Block]
CONDENSED BALANCE SHEETS
  
 
 
 
  
 
 
 
December 31, 2017 and 2016
  
 
 
 
  
 
 
 
                 
(In thousands)
  
 
 
 
  
 
 
 
   
As of December 31,
 
   
2017
    
2016
  
ASSETS
  
 
 
 
  
 
 
 
Cash and due from banks
   $
2,319
      
3,645
  
Investment in subsidiary
    
84,549
      
78,945
  
Other assets
    
59
      
46
  
                 
Total assets
    
86,927
      
82,636
  
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
  
 
 
 
  
 
 
 
Borrowings
    
19,789
      
19,709
  
Accrued expenses and other liabilities
    
389
      
357
  
Shareholders' equity
    
66,749
      
62,570
  
                 
Total liabilities and shareholders' equity
   $
86,927
      
82,636
  
Condensed Income Statement [Table Text Block]
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
    
 
 
 
Years Ended December 31, 2017, 2016 and 2015
  
 
 
 
  
 
 
 
  
 
 
 
                         
(In thousands)
  
 
 
 
  
 
 
 
  
 
 
 
   
Year ended December 31,
  
   
2017
    
2016
    
2015
  
Expenses:
  
 
 
 
  
 
 
 
  
 
 
 
Interest on subordinated debt
   $
371
      
344
      
303
  
Interest on senior debt
    
915
      
25
      
-
  
Interest on other borrowings
    
-
      
3
      
-
  
Total interest expense
    
1,286
      
372
      
303
  
Other expenses
    
208
      
162
      
519
  
Loss before equity in undistributed net income of subsidiary
    
1,494
      
534
      
822
  
Equity in undistributed net income
    
5,641
      
2,464
      
2,965
  
Net Income
    
4,147
      
1,930
      
2,143
  
Equity in subsidiary other comprehensive
    
(35
 )    
32
      
125
  
                         
Total comprehensive income
   $
4,112
      
1,962
      
2,268
  
Condensed Cash Flow Statement [Table Text Block]
CONDENSED STATEMENTS OF CASH FLOWS
  
 
 
 
  
 
 
 
  
 
 
 
Years Ended December 31, 2017, 2016 and 2015
  
 
 
 
  
 
 
 
  
 
 
 
                         
(In thousands)
  
 
 
 
  
 
 
 
  
 
 
 
   
Year ended December 31,
  
   
2017
    
2016
    
2015
  
Cash Flows from Operating Activities:
  
 
 
 
  
 
 
 
  
 
 
 
Net Income
   $
4,147
      
1,930
      
2,143
  
Adjustments to reconcile net income to net cash
                        
Equity in undistributed income of subsidiary
    
(5,641
 )    
(2,464
 )    
(2,965
 )
Dividends received from Patriot Bank, N.A.
    
-
      
890
      
-
  
Share-based compensation expense
    
146
      
161
      
461
  
Amortization of debt issuance costs
    
82
      
9
      
7
  
Change in assets and liabilities:
                        
(Increase) decrease in other assets
    
(13
 )    
-
      
2
  
Increase (decrease) in accrued expenses and other liabilities
    
32
      
(414
 )    
(3
 )
Net cash (used in) provided by operating activities
    
(1,247
 )    
112
      
(355
 )
                         
Cash Flows from Investing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
Net increase in investment in Patriot Bank N.A.
    
-
      
(7,198
 )    
-
  
Net cash used in investing activities
    
-
      
(7,198
 )    
-
  
                         
Cash Flows from Financing Activities:
  
 
 
 
  
 
 
 
  
 
 
 
Proceeds from issuance of senior notes, net of expenses
    
-
      
11,708
      
-
  
Purchase of treasury stock
    
(2
 )    
(1,017
 )    
-
  
Dividends paid on common stock
    
(77
 )    
-
      
-
  
Net cash (used in) provided by financing activities
    
(79
 )    
10,691
      
-
  
                         
Net (decrease) increase in cash and cash equivalents
    
(1,326
 )    
3,605
      
(355
 )
                         
Cash and cash equivalents at beginning of year
    
3,645
      
40
      
395
  
                         
Cash and cash equivalents at end of year
   $
2,319
      
3,645
      
40
  
                         
                         
Supplemental Disclosures of Cash Flow Information:
  
 
 
 
  
 
 
 
  
 
 
 
Cash paid for interest
   $
1,203
      
777
      
-
  
                         
Cash paid for income taxes
   $
-
      
-
      
-
  
                         
                         
Supplemental Disclosure of Non-cash Activity:
  
 
 
 
  
 
 
 
  
 
 
 
Deferred debt issuance costs
   $
-
      
82
      
-
  
Accounts payable
    
-
      
(82
 )    
-
  
    $ -       -       -