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Holding Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet

The Holding Company’s unconsolidated financial information as of December 31, 2015 and 2014 and for the years then ended follows (in thousands):

Condensed Balance Sheets

		At December 31,
		2015			2014
Assets
Cash		$	13		$	71
Investment in subsidiary			9,036			8,683
Other assets			180			180
Total assets		$	9,229		$	8,934
Liabilities and Stockholders’ Equity
Other liabilities		$	1,107		$	800
Junior subordinated debenture			5,155			5,155
Stockholders’ equity			2,967			2,979
Total liabilities and stockholders’ equity		$	9,229		$	8,934

Condensed Statements of Income and Comprehensive Income

Condensed Statements of Operations

		Year Ended December 31,
		2015			2014
Earnings of subsidiary		$	532		$	2,229
Interest expense			(162	)		(155	)
Other expense			(533	)		(469	)
Net (loss) earnings		$	(163	)	$	1,605

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

		Year Ended December 31,
		2015				2014
Cash flows from operating activities:
Net (loss) earnings		$	(163	)		$	1,605
Adjustments to reconcile net (loss) earnings to net cash used in operating activities:
Stock compensation			242				239
Equity in undistributed earnings of subsidiary			(532	)			(2,229	)
Increase in other liabilities			307				136
Net cash used in operating activities			(146	)			(249	)
Cash flow from investing activities-
Investment in subsidiary			(42	)			(988	)
Cash flow from financing activities-
Proceeds from sale of common stock, net			30				1,272
Proceeds from sale of preferred stock			100
Net cash provided by financing activities			130				1,272
Net (decrease) increase in cash			(58	)			35
Cash at beginning of the year			71				36
Cash at end of year		$	13			$	71
Noncash transaction-
Change in accumulated other comprehensive earnings of subsidiary, net change in unrealized (loss) gain on securities available for sale		$	(221	)		$	79

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