Parent Company Financial Information

12 Months Ended

Dec. 31, 2011

Parent Company Financial Information [Abstract]

Parent Company Financial Information

Note 16. Parent Company Financial Information

Condensed financial information of Cardinal Bankshares Corporation is presented as follows:

Balance Sheets

December 31, (In thousands)	2011			2010
Assets
Cash and due from banks	$	1,765		$	709
Investment securities available for sale, at fair value		1,412			2,269
Total loans		5,546			6,855
Allowance for loan losses		(287	)		(342	)
Net loans		5,259			6,513
Investment in affiliate bank at equity		23,910			22,223
Other assets		694			173
Total assets	$	33,040		$	31,887
Liabilities
Other liabilities	$	7		$	—
Total liabilities		7			—
Stockholders' equity
Common stock		15,357			15,357
Additional paid-in capital		2,925			2,925
Retained earnings		14,292			13,439
Accumulated other comprehensive loss		459			166
Total stockholders' equity		33,033			31,887
Total liabilities and stockholders' equity	$	33,040		$	31,887

Statements of Income

Years ended December 31, (In thousands)	2011			2010
Income
Dividends from affiliate bank	$	—		$	—
Interest on loans		306			339
Interest on investment securities		113			138
Other income		4			—
Total income		423			477
Expenses
Management and professional fees		350			345
Provision for loan losses		46			—
Other expenses		449			59
Total expenses		845			404
Income (loss) before income tax (expense) benefit and equity in undistributed net income of subsidiaries		(422	)		73
Income tax (expense) benefit		156			(25	)
Income (loss) before equity in undistributed net income of subsidiaries		(266	)		48
Equity in undistributed net income of subsidiaries		1,365			921
Net income	$	1,099		$	969

Statements of Cash Flows

Years ended December 31, (In thousands)	2011			2010
Cash flows from operating activities
Net income	$	1,099		$	969
Adjustments to reconcile net income to net cash (used) provided by operating activities:
Accretion of discount on securities, net of amortization of premiums		10			3
Provision for loan losses		46			—
Net realized gains on securities		(9	)		—
Equity in undistributed income of subsidiaries		(1,365	)		(921	)
Net other-than-temporary impairment on investments		300			—
Net change in other assets		(70	)		(3	)
Net change in other liabilities		7			—
Net cash (used) provided by operating activities		18			48
Cash flows from investing activities
Net decrease (increase) in loans		773			685
Sales of available for sale securities		511			—
Capitalization of subsidiaries		—			(1,000	)
Net cash (used) provided by investing activities		1,284			(315	)
Cash flows from financing activities
Dividends paid		(246	)		(246	)
Net cash used by financing activities		(246	)		(246	)
Net increase (decrease) in cash and cash equivalents		1,056			(513	)
Cash and cash equivalents, beginning		709			1,222
Cash and cash equivalents, ending	$	1,765		$	709
Supplemental disclosures of noncash activities Transfer of loans to foreclosed assets	$	435		$	__—