Condensed Financial Statements Of Parent Company

12 Months Ended

Dec. 31, 2012

Condensed Financial Information Of Parent Company [Abstract]

Condensed Financial Statements Of Parent Company

Note 23 – Condensed financial statements of parent company

Financial information pertaining only to Bank of the James Financial Group, Inc. is as follows:

Balance Sheet

	December 31,
	2012	2011
Assets
Cash	$ 2,761	$ 229
Taxes receivable	176	243

Investment in Bank of the James subsidiary	36,641	33,408

Other assets	35	-

Total assets	$ 39,613	$ 33,880

Liabilities and stockholders’ equity

Capital notes, 6% due 4/2012	$ -	$ 7,000
Capital notes, 6% due 4/2017	10,000	-
Other liabilities	-	75
Total liabilities	10,000	7,075

Common stock $2.14 par value	$ 7,175	$ 7,152
Additional paid-in-capital	22,806	22,775
Retained (deficit)	(936)	(3,068)
Accumulated other comprehensive (loss)	568	(54)
Total stockholders’ equity	$ 29,613	$ 26,805

Total liabilities and stockholders’ equity	$ 39,613	$ 33,880

Statements of Income
	Years Ended December 31,
	2012	2011

Income	$ -	$ -

Operating expenses
Interest on capital notes	537	420
Legal and professional fees	157	378
Other expense	32	22

Total expenses	$ (726)	$ (820)

Allocated income tax benefits	$ 247	$ 353

(Loss) before equity in undistributed income of subsidiaries	$ (479)	$ (467)

Equity in undistributed income - Bank of the James	$ 2,611	$ 1,346
Equity in undistributed (loss) - BOTJ Investment Group, Inc.	-	(279)

Net income	$ 2,132	$ 600


Statements of Cash Flows
	Years Ended December 31,
	2012	2011

Cash flows from operating activities
Net income	$ 2,132	$ 600

Adjustments to reconcile net income to net cash used in operating activities
Decrease (increase) in income taxes receivable	67	(7)
(Increase) in other assets	(35)	-
Increase (decrease) in other liabilities	(75)	34
Equity in undistributed net (income) of Bank of the James	(2,611)	(1,346)
Equity in undistributed net loss of BOTJ Investment Group, Inc.	-	279

Net cash (used in) operating activities	$ (522)	$ (440)

Cash flows from financing activities
Proceeds from exercise of stock options	54	72
Payoff of 6% capital notes due 4/1/2012	(7,000)	-
Proceeds from issuance of 6% capital notes due 4/1/2017	10,000

Net cash provided by financing activities	$ 3,054	$ 72

Increase (decrease) in cash and cash equivalents	$ 2,532	$ (368)

Cash and cash equivalents at beginning of period	229	597

Cash and cash equivalents at end of period	$ 2,761	$ 229

- 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.

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