Parent Company Financial Information

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Information

Note 19. Parent Company Financial Information

Condensed financial information of Parkway Acquisition Corp. is presented as follows:

Balance Sheets

December 31, 2016 and 2015

(dollars in thousands)	2016			2015
Assets
Cash and due from banks	$	1,621		$	29
Investment in affiliate bank		53,168			30,456
Other assets		677			256
Total assets	$	55,466		$	30,741
Liabilities
Other liabilities	$	—		$	85
Stockholders’ equity
Common stock		—			2,149
Surplus		26,166			522
Retained earnings		30,654			28,709
Accumulated other comprehensive loss		(1,354	)		(724	)
Total stockholders’ equity		55,466			30,656
Total liabilities and stockholders’ equity	$	55,466		$	30,741

Statements of Income

For the years ended December 31, 2016 and 2015

(dollars in thousands)	2016			2015
Income
Dividends from affiliate bank	$	573		$	272
Bargain purchase gain		891			—
Other income		7			1
		1,471			273
Expenses
Management and professional fees		56			148
Other expenses		27			24
		83			172
Income before tax benefit and equity in undistributed income of affiliate		1,388			101
Federal income tax (expense) benefit		(225	)		58
Income before equity in undistributed income of affiliate		1,163			159
Equity in undistributed income of affiliate		1,255			838
Net income	$	2,418		$	997

Statements of Cash Flows

For the years ended December 31, 2016 and 2015

(dollars in thousands)	2016			2015
Cash flows from operating activities
Net income	$	2,418		$	997
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of affiliate		(1,255	)		(838	)
Bargain purchase gain		(891	)		—
Change in other assets		59			(69	)
Change in other liabilities		(85	)		85
Net cash provided by operating activities		246			175
Cash flows from investing activities
Net decrease in loans		1,002			—
Cash received in business combination		822			—
Net cash provided by investing activities		1,824			—
Cash flows from financing activities
Cash paid for fractional shares		(5	)		—
Dividends paid		(473	)		(172	)
Net cash used by financing activities		(478	)		(172	)
Net increase in cash and cash equivalents		1,592			3
Cash and cash equivalents, beginning		29			26
Cash and cash equivalents, ending	$	1,621		$	29