Parent Company Only Financial (Tables)

12 Months Ended

Dec. 31, 2016

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



BALANCE SHEETS
	December 31,
(Dollars in thousands)	2016		2015
Assets
Cash	$	129	$	69
Investment in subsidiary	89,956		65,986
Accrued interest and other assets	2,919		1,466
Total Assets	$	93,004	$	67,521
Liabilities and Stockholders' Equity
Other liabilities	$	92	$	693
Long-term borrowings	5,000		—
Subordinated debentures	27,840		12,887
Stockholders' equity	60,072		53,941
Total Liabilities and Stockholders' Equity	$	93,004	$	67,521



STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
	Year Ended December 31,
(Dollars in thousands)	2016			2015
Interest expense on borrowings	$	(52	)	$	—
Interest expense on debentures	(391		)	(220		)
Other expenses	(203		)	(311		)
Loss before income tax benefit and equity in
undistributed net income of subsidiaries	(646		)	(531		)
Income tax benefit	243			179
Loss before equity in undistributed net
income of subsidiaries	(403		)	(352		)
Equity in undistributed net income of subsidiaries	5,926			4,052
Net Income	5,523			3,700
Comprehensive income	$	5,680		$	3,617



STATEMENTS OF CASH FLOWS
	Year Ended December 31,
(Dollars in thousands)	2016			2015
Cash Flows from Operating Activities:
Net Income	$	5,523		$	3,700
Adjustments to reconcile net income to net cash provided by operating activities:
Net change in other assets and liabilities	852			1,699
Equity in undistributed net income of subsidiaries	(5,926		)	(4,052		)
Net Cash Provided by Operating Activities	449			1,347
Cash Flows from Investing Activities:
Capital contribution to subsidiaries	(19,568		)	—
Net Cash Used in Investing Activities	(19,568		)	—
Cash Flows from Financing Activities:
Cash dividends paid	(752		)	(746		)
Proceeds from long-term borrowings	5,000			—
Proceeds from subordinated debenture, net of issuance costs of $47	14,953			—
Proceeds from exercise of stock options	4			—
Purchase of treasury stock	(26		)	(533		)
Net Cash Provided by (Used in) Financing Activities	19,179			(1,279		)
Net Increase in Cash and Cash Equivalents	60			68
Cash and Cash Equivalents - Beginning of Year	69			1
Cash and Cash Equivalents - End of Year	$	129		$	69