Norwood Financial Corp (Parent Company Only) Financial Information

12 Months Ended

Dec. 31, 2012

Norwood Financial Corp (Parent Company Only) Financial Information [Abstract]

NORWOOD FINANCIAL CORP (PARENT COMPANY ONLY) FINANCIAL INFORMATION

NOTE 16 - NORWOOD FINANCIAL CORP (PARENT COMPANY ONLY) FINANCIAL INFORMATION                                          BALANCE SHEETS

	December 31,
	2012		2011
	(In Thousands)
ASSETS
Cash on deposit in bank subsidiary	$	1,120	$	1,230
Securities available for sale		319		238
Investment in bank subsidiary		88,412		84,187
Other assets		3,591		3,434
	$	93,442	$	89,089
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities	$	1,021	$	1,028
Stockholders' equity		92,421		88,061
	$	93,442	$	89,089

STATEMENTS OF INCOME

	Years Ended December 31,
	2012			2011			2010
Income:	(In Thousands)
Dividends from bank subsidiary	$	3,971		$	16,496		$	3,120
Other interest income		6			9			17
Net realized gain on sales of securities		73			-			66
		4,050			16,505			3,203
Expenses		296			980			323
		3,754			15,525			2,880
Income tax benefit		(74	)		(290	)		(82	)
		3,828			15,815			2,962
Equity in undistributed earnings of subsidiary		4,575			(8,459	)		4,351
Net Income	$	8,403		$	7,356		$	7,313
Comprehensive Income	$	7,885		$	9,534		$	6,360

STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2012			2011			2010
	(In Thousands)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	8,403		$	7,356		$	7,313
Adjustments to reconcile net income to
net cash provided by operating activities:
Undistributed earnings of bank subsidiary		(4,575	)		8,459			(4,351	)
Net gains on sales of securities		(68	)		—			(66	)
Other, net		(181	)		(506	)		(144	)
Net Cash Provided by Operating Activities		3,579			15,309			2,752
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of securities		114			—			166
Outlays for business acquisitions		—			(10,518	)		—
Purchase of securities		(185	)		—			—
Net Cash Provided by (used in) Investing Activities		(71	)		(10,518	)		166
CASH FLOWS FROM FINANCING ACTIVITIES
Stock options exercised		455			51			163
Tax benefit of stock options exercised		30			5			34
ESOP purchase of shares from treasury stock		149			153			156
Acquisition of treasury stock		(320	)		(602	)		(529	)
Cash dividends paid		(3,932	)		(3,514	)		(3,093	)
Net Cash Used in Financing Activities		(3,618	)		(3,907	)		(3,269	)
Net Increase (Decrease) in Cash and Cash Equivalents		(110	)		884			(351	)
CASH AND CASH EQUIVALENTS - BEGINNING		1,230			346			697
CASH AND CASH EQUIVALENTS - ENDING	$	1,120		$	1,230		$	346