Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2016

Parent Company Only Condensed Financial Information [Abstract]

Parent Company Only Condensed Financial Information

NOTE 22 – PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of Central Federal Corporation follows:

	2016		2015
Assets
Cash and cash equivalents	$	2,197	$	2,673
Investment in banking subsidiary		41,448		37,745
Investment in and advances to other subsidiary		225		222
Other assets		901		3,112
Total assets	$	44,771	$	43,752
Liabilities and Equity
Subordinated debentures	$	5,155	$	5,155
Accrued expenses and other liabilities		324		285
Stockholders' equity		39,292		38,312
Total liabilities and stockholders' equity	$	44,771	$	43,752

	2016		2015
Interest income	$	2	$	1
Other income		131		291
Interest expense		185		164
Other expense		646		548
Loss before income tax and undistributed subsidiary income		(698)		(420)
Tax effect		236		1,798
Gain (loss) after income tax and undistributed subsidiary income		(462)		1,378
Equity in undistributed subsidiary income		2,089		3,099
Net income	$	1,627	$	4,477
Comprehensive income	$	1,638	$	4,417

	2016		2015
Cash flows from operating activities
Net Income	$	1,627	$	4,477
Adjustments:
Effect of subsidiaries' operations		(2,089)		(3,099)
Change in other assets and other liabilities		766		(980)
Net cash from (used by) operating activities		304		398
Cash flows from financing activities
Purchase of treasury shares		(30)		-
Dividends paid on Series B preferred stock		(750)		(750)
Net cash from (used by) financing activities		(780)		(750)
Net change in cash and cash equivalents		(476)		(352)
Beginning cash and cash equivalents		2,673		3,025
Ending cash and cash equivalents	$	2,197	$	2,673