Parent Company Only Financial

12 Months Ended

Dec. 31, 2012

Parent Company Only Financial [Abstract]

Parent Company Only Financial

NOTE 20 – PARENT COMPANY ONLY FINANCIAL

Condensed financial information pertaining only to the parent company, Sussex Bancorp, is as follows:

BALANCE SHEETS
	December 31,
(Dollars in thousands)	2012		2011
Assets
Cash	$	979	$	704
Investment in subsidiary		50,680		50,044
Securities available for sale		324		340
Loans		-		598
Foreclosed real estate		-		99
Accrued interest and other assets		1,480		1,130
Total Assets	$	53,463	$	52,915
Liabilities and Stockholders' Equity
Other liabilities	$	204	$	126
Junior subordinated debentures		12,887		12,887
Stockholders' equity		40,372		39,902
Total Liabilities and Stockholders' Equity	$	53,463	$	52,915

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
		Year Ended December 31,
(Dollars in thousands)		2012		2011
Interest and fees on loans	$	60	$	57
Interest on investments		11		13
Net realized gain (loss) on sale of securities		2		(2)
Net gain on sale of foreclosed real estate		3		-
Impairment charge on equity securities		-		(231)
Interest expense on debentures		(241)		(222)
Other expenses		(232)		(132)
Loss before income tax benefit and equity in
undistributed net income of subsidiaries		(397)		(517)
Income tax benefit		135		176
Loss before equity in undistributed net
income of subsidiaries		(262)		(341)
Equity in undistributed net income of subsidiaries		997		2,811
Net Income		735		2,470
Other comprehensive (loss) income:
Unrealized losses on available for sale securities arising during the period		(2)		(40)
Reclassification adjustment for (gain) loss on securities transactions included in net income		(2)		233
Income tax (benefit) expense related to other comprehensive (loss) income		(1)		77
Other comprehensive (loss) income, net of income taxes		(5)		270
Comprehensive income	$	730	$	2,740

STATEMENTS OF CASH FLOWS
	Year Ended December 31,
(Dollars in thousands)	2012		2011
Cash Flows from Operating Activities:
Net Income	$	735	$	2,470
Adjustments to reconcile net income to net cash used in operating activities:
Impairment charge on equity securities		-		231
Net change in other assets and liabilities		(116)		(409)
Equity in undistributed net income of subsidiaries		(997)		(2,811)
Net Cash Used in Operating Activities		(378)		(519)
Cash Flows from Investing Activities:
Securities available for sale:
Sales		7		67
Maturities, calls and principal repayments		4		30
Net decrease in loans		697		270
Net Cash Provided by Investing Activities		708		367
Cash Flows from Financing Activities:
Purchase of treasury stock		(55)		-
Net Cash Used In Financing Activities		(55)		-
Net Increase (Decrease) in Cash and Cash Equivalents		275		(152)
Cash and Cash Equivalents - Beginning of Year		704		856
Cash and Cash Equivalents - End of Year	$	979	$	704