Condensed Financial Information Of Parent Company

12 Months Ended

Dec. 31, 2011

Condensed Financial Information Of Parent Company [Abstract]

Condensed Financial Information Of Parent Company

Note 22. Condensed Financial Information of Parent Company

Financial information pertaining only to Bay Banks of Virginia, Inc. is as follows:

Condensed Balance Sheets	2011		2010
Assets
Cash and due from banks	$	63,129	$	49,227
Investments in subsidiaries		27,917,081		27,304,266
Premises and equipment, net		1,760		2,458
Other assets		316,962		341,935
Total assets	$	28,298,932	$	27,697,886
Liabilities and Shareholders' Equity
Liabilities
Deferred directors' compensation	$	210,973	$	259,796
Other liabilities		168,216		190,821
Total liabilities	$	379,189	$	450,617
Total shareholders' equity		27,919,743		27,247,269
Total liabilities and shareholders' equity	$	28,298,932	$	27,697,886

Condensed Income Statements	2011			2010
Dividends from subsidiaries	$	—		$	—
Other income		480,076			383,483
Total non-interest income		480,076			383,483
Total non-interest expense		448,405			501,791
Income (loss) before income taxes and equity in undistributed earnings of subsidiaries		31,671			(118,308	)
Income tax expense		3,083			14,846
Income (loss) before equity in undistributed earnings of subsidiaries		28,588			(133,154	)
Equity in undistributed earnings of subsidiaries		321,554			505,423
Net income	$	350,142		$	372,269
Condensed Statements of Cash Flows	2011			2010
Cash Flows from Operating Activities:
Net income	$	350,142		$	372,269
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization		698			20,287
Stock-based compensation		31,071			14,279
Equity in undistributed earnings of subsidiaries		(321,554	)		(505,423	)
Decrease in other assets		24,974			198,177
Net change in deferred directors' compensation		(48,823	)		18,441
(Decrease) in other liabilities		(22,606	)		(124,022	)
Net cash provided by (used in) operating activities		13,902			(5,992	)
Cash Flows from Financing Activities:
Dividends paid and cash in lieu		—			(1,210	)
Net cash used in financing activities		—			(1,210	)
Net increase (decrease) in cash and due from banks		13,902			(7,202	)
Cash and due from banks at January 1		49,227			56,429
Cash and due from banks at December 31	$	63,129		$	49,227