Condensed Financial Statements Of Parent Company (Tables)

12 Months Ended

Dec. 31, 2017


	December 31,
	2017	2016
Assets
Cash	$859	$281
Taxes receivable	120	73

Investment in subsidiaries	55,668	49,049

Other assets	18	18

Total assets	$56,665	$49,421

Liabilities and stockholders’ equity

Capital notes	$5,000	$ -
Total Liabilities	$5,000	$ -

Common stock $2.14 par value	$9,370	$9,370
Additional paid-in-capital	31,495	31,495
Retained earnings	12,269	10,156
Accumulated other comprehensive (loss)	(1,469)	(1,600)
Total stockholders’ equity	$51,665	$49,421

Total liabilities and stockholders’ equity	$56,665	$49,421

Statements of Income
	Years Ended December 31,
	2017	2016
Income
Dividends from subsidiary	$ -	$600

Operating expenses
Interest on capital notes	187	8
Legal and professional fees	174	145
Other expense	131	126

Total expenses	492	279

Income tax (benefit)	(167)	(94)

(Loss) income before equity in undistributed income of subsidiaries	(325)	415

Equity in undistributed income of subsidiaries	3,247	2,871

Net income	$2,922	$3,286


Statements of Cash Flows
	Years Ended December 31,
	2017	2016

Cash flows from operating activities
Net income	$2,922	$3,286

Adjustments to reconcile net income to net cash used in operating activities
(Increase) decrease in income taxes receivable	(47)	259
Decrease in other assets	-	10
(Decrease) in other liabilities	-	(248)
Equity in undistributed net (income) of subsidiaries	(3,247)	(2,871)

Net cash (used in) provided by operating activities	$(372)	$436

Cash flows from investing activities Capital contribution to subsidiary Bank of the James	$(3,000)	$ -
Net cash (used in) provided by investing activities	$(3,000)	$ -

Cash flows from financing activities
Dividends paid to common stockholders	$(1,050)	$(1,050)
Retirement of capital notes	-	(10,000)
Proceeds from sale of 4% capital notes due 1/24/2022	5,000	-

Net cash provided by (used in) by financing activities	$3,950	$(11,050)

Increase (decrease) in cash and cash equivalents	$578	$(10,614)

Cash and cash equivalents at beginning of period	281	10,895

Cash and cash equivalents at end of period	$859	$281