Auburn National Bancorporation - Parent Company Financials

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE 20: AUBURN NATIONAL BANCORPORATION (PARENT COMPANY)

The Parent Company’s condensed balance sheets and related condensed statements of earnings and cash flows are as follows:

CONDENSED BALANCE SHEETS
				December 31
(Dollars in thousands)	2013		2012
Assets:
Cash and due from banks	$	2,408		1,316
Investment in bank subsidiary		70,164		76,547
Premises and equipment		—		158
Other assets		846		1,162
Total assets	$	73,418		79,183
Liabilities:
Accrued expenses and other liabilities	$	1,716		1,817
Long-term debt		7,217		7,217
Total liabilities		8,933		9,034
Stockholders' equity		64,485		70,149
Total liabilities and stockholders' equity	$	73,418		79,183

CONDENSED STATEMENTS OF EARNINGS
		Year ended December 31
(Dollars in thousands)		2013		2012		2011
Income:
Dividends from bank subsidiary		$	3,304		3,231	3,158
Noninterest income			1,284		288	385
	Total income		4,588		3,519	3,543
Expense:
Interest expense			236		236	236
Noninterest expense			302		318	485
	Total expense		538		554	721
Earnings before income tax benefit and equity
	in undistributed earnings of bank subsidiary		4,050		2,965	2,822
Income tax expense (benefit)			275		(45)	(31)
Earnings before equity in undistributed earnings
	of bank subsidiary		3,775		3,010	2,853
Equity in undistributed earnings of bank subsidiary			3,343		3,753	2,685
	Net earnings	$	7,118		6,763	5,538

CONDENSED STATEMENTS OF CASH FLOWS
						Year ended December 31
(Dollars in thousands)					2013		2012	2011
Cash flows from operating activities:
	Net earnings				$	7,118	6,763	5,538
	Adjustments to reconcile net earnings to net cash
		provided by operating activities:
			Depreciation and amortization			28	29	80
			Net gain on disposition of premises and equipment			(1,018)	—	—
			Net decrease in other assets			316	16	22
			Net decrease in other liabilities			(101)	(109)	(727)
			Equity in undistributed earnings of bank subsidiary			(3,343)	(3,753)	(2,685)
				Net cash provided by operating activities		3,000	2,946	2,228
Cash flows from investing activities:
	Purchases of premises and equipment					—	(17)	—
	Proceeds from sale of premises and equipment to third party					1,148	—	—
	Proceeds from sale of premises and equipment to bank subsidiary					—	—	4,450
	Capital contribution to bank subsidiary					—	—	(3,200)
				Net cash provided by (used in) investing activities		1,148	(17)	1,250
Cash flows from financing activities:
	Proceeds from sale of treasury stock					4	5	1
	Dividends paid					(3,060)	(2,987)	(2,914)
				Net cash used in financing activities		(3,056)	(2,982)	(2,913)
Net change in cash and cash equivalents						1,092	(53)	565
Cash and cash equivalents at beginning of period						1,316	1,369	804
Cash and cash equivalents at end of period					$	2,408	1,316	1,369