Suffolk Bancorp (Parent Company Only) Condensed Financial Statements

12 Months Ended

Dec. 31, 2011

Suffolk Bancorp (Parent Company Only) Condensed Financial Statements [Abstract]

Suffolk Bancorp (Parent Company Only) Condensed Financial Statements

Note 16 — Suffolk Bancorp (parent company only) Condensed Financial Statements (in thousands)

Condensed Statements of Condition as of December 31,	2011			2010 Restated			2009
Assets
Due From Banks	$	405		$	2,058		$	2,745
Investment in Subsidiaries: SCNB		135,941			134,498			136,448
Other Assets		333			1,786			444
Total Assets	$	136,679		$	138,342		$	139,637
Liabilities and Stockholders' Equity
Dividends Payable	$	—		$	1,454		$	2,115
Other Liabilities		119			68			351
Stockholders' Equity		136,560			136,820			137,171
Total Liabilities and Stockholders' Equity	$	136,679		$	138,342		$	139,637
Condensed Statements of Income for the Years Ended December 31,	2011			2010 Restated			2009
Income:
Dividends From Subsidiary Bank	$	—		$	7,825		$	8,451
Expense:
Other Expense		362			141			291
Income Before Equity in Undistributed Net (Loss) Income of Subsidiaries		(362	)		7,684			8,160
Equity in Undistributed Earnings (Loss) of Subsidiaries		284			(1,428	)		14,388
Net (Loss) Income	$	(78	)	$	6,256		$	22,548
Condensed Statements of Cash Flows for the Years Ended December 31,	2011			2010 Restated			2009
Cash Flows From Operating Activities
Net (Loss) Income	$	(78	)	$	6,256		$	22,548
Less: Equity in Undistributed (Loss) Earnings of Subsidiaries		(285	)		1,428			(14,388	)
Other – Net		1,505			(1,616	)		56
Net Cash Provided by Operating Activities		1,142			6,068			8,216
Cash Flows From Investing Activities
Advances to Subsidiary		(2,000	)		—			—
Net Cash Used in Investing Activities		(2,000	)		—			—
Cash Flows From Financing Activities
Dividend Reinvestment and Stock Option Exercises		659			1,732			809
Dividends Paid		(1,454	)		(8,487	)		(8,443	)
Net Cash Used in Financing Activities		(795	)		(6,755	)		(7,634	)
Net Increase (Decrease) in Cash and Cash Equivalents		(1,653	)		(687	)		582
Cash and Cash Equivalents, Beginning of Year		2,058			2,745			2,163
Cash and Cash Equivalents, End of Year	$	405		$	2,058		$	2,745

Note: No income tax provision has been recorded on the books of Suffolk Bancorp since it files a return consolidated with its subsidiaries.