Parent Company Financial Statements

12 Months Ended

Dec. 31, 2011

Parent Company Financial Statements [Abstract]

16.	PARENT COMPANY FINANCIAL STATEMENTS

The condensed financial statements of Indiana Community Bancorp are as follows: (dollars in thousands)

As of	Dec 2011		Dec 2010
Condensed Balance Sheets (Parent Company only)
Assets:
Cash	$	1,449	$	3,291
Investment in subsidiary		101,280		100,037
Other		996		954
Total Assets	$	103,725	$	104,282

Liabilities:
Junior subordinated debt	$	15,464	$	15,464
Payable to subsidiary		10		0
Other		117		169
Total liabilities		15,591		15,633
Shareholders' equity		88,134		88,649
Total Liabilities and Shareholders' Equity	$	103,725	$	104,282

Period Ended	Dec 2011			Dec 2010
Condensed Statements of Operations (Parent Company only)
Interest on securities	$	9		$	9
Non interest income		3			35
Total income		12			44
Interest on junior subordinated debt		308			312
Non interest expenses		604			544
Total expenses		912			856
Loss before taxes and change in undistributed earnings of subsidiary		(900	)		(812	)
Applicable income tax benefit		(354	)		(321	)
Loss before change in undistributed earnings of subsidiary		(546	)		(491	)
Increase/(decrease) in undistributed earnings of subsidiary		(1,198	)		6,133
Net Income /(Loss)	$	(1,744	)	$	5,642

Period Ended	Dec 2011			Dec 2010
Condensed Statements of Cash Flows (Parent Company only)
Operating Activities:
Net income/(loss)	$	(1,744	)	$	5,642
Adjustments to reconcile net income to net cash provided by operating activities:
Increase in other assets		(42	)		(1	)
Decrease in other liabilities		(42	)		(154	)
(Increase)/decrease in undistributed earnings of subsidiary		1,198			(6,133	)
Net cash used by operating activities		(630	)		(646	)

Investing Activities:
Investment in subsidiary		0			0
Proceeds from divestiture of inactive subsidiary		0			722
Net cash provided/(used) by investing activities		0			722

Financing Activities:
Payment of dividends on preferred stock		(1,075	)		(1,075	)
Payment of dividends on common stock		(137	)		(135	)
Preferred stock and warrants issued		0			0
Net cash provided/(used) by financing activities		(1,212	)		(1,210	)

Net increase/(decrease) in cash		(1,842	)		(1,134	)
Cash at beginning of period		3,291			4,425
Cash at End of Period	$	1,449		$	3,291

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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