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Condensed Financial Information
 12 Months Ended
Dec. 31, 2016
Condensed Financial Information [Abstract]  
Condensed Financial Information

Note 19: Condensed Financial Information

 

Presented below is condensed financial information of the parent company only ($ in thousands):

 

Condensed Balance Sheets

 

 2016  2015 
Assets      
Cash and cash equivalents $4,681  $9,157 
Investment in banking subsidiaries  91,308   82,245 
Investment in nonbanking subsidiaries  1,417   1,488 
Other assets  673   274 
         
Total assets $98,079  $93,164 
Liabilities        
Trust preferred securities $10,000  $10,000 
Borrowings from nonbanking subsidiaries  310   310 
Other liabilities & accrued interest payable  1,221   1,613 
         
Total liabilities  11,531   11,923 
         
Stockholders' Equity  86,548   81,241 
         
Total liabilities and stockholders' equity $98,079  $93,164 

 

 2016  2015 
Condensed Statements of Income & Comprehensive Income        
Dividends from subsidiaries:        
Banking subsidiaries $-  $1,000 
Total income  -   1,000 
         
Expenses        
Interest expense  253   212 
Other expense  969   922 
Total expenses  1,222   1,134 
Income before income tax  (1,222)  (134)
         
Income tax benefit  (416)  (385)
Income before equity in undistributed income of subsidiaries  (806)  251 
        
Equity in undistributed income of subsidiaries        
Banking subsidiaries  9,662   7,369 
Nonbanking subsidiaries  (72)  (1)
         
Total  9,590   7,368 
         
Net income $8,784  $7,619 
         
Preferred stock dividends  975   956 
         
Net income available to common shareholders $7,809  $6,663 
         
Comprehensive income $8,185  $7,351 

 

Condensed Statements of Cash Flows

 

 2016  2015 
Operating Activities      
Net income $8,784  $7,619 
Items not requiring (providing) cash        
Equity in undistributed net income of subsidiaries  (9,590)  (7,368)
Expense of stock option plan  114   81 
Other assets  (401)  (166)
Other liabilities  (391)  (1,581)
Net cash used in operating activities  (1,484)  (1,415)
         
Financing Activities        
Dividends on common stock  (1,180)  (983)
Dividends on preferred stock  (975)  (956)
Proceeds from stock compensation  331   67 
Repurchase of common stock  (1,168)  (2)
Net cash used in financing activities  (2,992)  (1,874)
         
Net Change in Cash and Cash Equivalents  (4,476)  (3,289)
         
Cash and Cash Equivalents at Beginning of Year  9,157   12,446 
Cash and Cash Equivalents at End of Year $4,681  $9,157