Note 13 - Condensed Financial Statements of Parent Company

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

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

Note

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3

: Condensed Financial Statements of Parent Company

Financial information pertaining only to NBI (Parent) is as follows:

Condensed Balance Sheets	December 31,
	20 16		20 15
Assets
Cash due from subsidiaries	$	74	$	19
Interest-bearing deposits		1,310		170
Securities available for sale , at fair value		163		127
Securities held to maturity (fair value approximates $449 at December 31, 2015)		---		451
Investments in subsidiaries, at equity		177,150		172,017
Refundable income taxes		22		---
Other assets		561		575
Total assets	$	179,280	$	173,359
Liabilities a nd Stockholders’ Equity
Other liabilities	$	1,017	$	1,245
Stockholders ’ equity		178,263		172,114
Total liabilities and stockholders ’ equity	$	179,280	$	173,359

Condensed Statements of Income

	Years Ended December 31,
	20 16		20 15		20 14
Income
Dividends from subsidiaries	$	9,421	$	7,930	$	7,853
Interest on securities – taxable		2		3		2
Interest on securities – nontaxable		---		---		1
Other income		987		1,208		1,250
Total income		10,410		9,141		9,106
Expenses
Other expenses		1,992		2,051		2,046
Income before income tax benefit and equity in undistributed net income of subsidiaries		8,418		7,090		7,060
Applicable income tax benefit		628		210		136
Income before equity in undistributed net income of subsidiaries		9,046		7,300		7,196
Equity in undistributed net income of subsidiaries		5,896		8,533		9,718
Net income	$	14,942	$	15,833	$	16,914

Condensed Statements of Cash Flows 

	Years ended December 31,
	20 16			20 15			20 14
Cash Flows f rom Operating Expenses
Net income	$	14,942		$	15,833		$	16,914
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries		(5,896	)		(8,533	)		(9,718	)
Amortization of premiums and accretion of discounts, net		1			1			1
Depreciation expense		---			3			9
Losses on disposal of fixed assets		---			2			94
Net change in refundable income taxes due from subsidiaries		(223	)		106			96
Net change in other assets		219			(81	)		(63	)
Net change in other liabilities		(227	)		128			(33	)
Net cash provided by operating activities		8,816			7,459			7,300
Cash Flows f rom Investing Activities
Net change in interest-bearing deposits		(1,140	)		307			213
Purchases of securities held to maturity		---			---			(453	)
Maturities and calls of securities available for sale		---			---			455
Maturities and calls of securities held to maturity		450			---			---
Proceeds from sale of premises and equipment		---			---			263
Net cash (used in) provided by investing activities		(690	)		307			478
Cash Flows f rom Financing Activities
Cash dividends paid		(8,071	)		(7,930	)		(7,853	)
Exercise of stock options		---			173			58
Net cash used in financing activities		(8,071	)		(7,757	)		(7,795	)
Net change in cash		55			9			17
Cash due from subsidiaries at beginning of year		19			10			27
Cash due from subsidiaries at end of year	$	74		$	19		$	10