Condensed financial information for TF Financial Corporation (parent company only) follows:

BALANCE SHEETS

	At December 31,
	2013		2012
	(in thousands)
ASSETS
Cash	$	2,220	$	2,031
Investment in 3rd Fed		89,501		78,032
Investment in Penns Trail Development		1,065		1,077
Notes receivable ESOP		1,161		1,208
Other assets		964		723
Total assets	$	94,911	$	83,071

LIABILITIES AND STOCKHOLDERS’ EQUITY
Total liabilities	$	36	$	126
Stockholders’ equity		94,875		82,945
Total liabilities and stockholders’ equity	$	94,911	$	83,071

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	For the years ended December 31,
		2013			2012
	(in thousands)
INCOME
Equity in earnings of subsidiaries	$	7,929		$	5,963
Interest and dividend income		18			22
Total income		7,947			5,985
EXPENSES
Other		1,372			602
Total expenses		1,372			602
NET INCOME		6,575			5,383
Total other comprehensive income (loss) (1)		(2,148	)		224
Total comprehensive income	$	4,427		$	5,607

(1)

See Consolidated Statements of Comprehensive Income for other comprehensive income detail.

STATEMENTS OF CASH FLOWS

	For the years ended December 31,
	2013			2012
	(in thousands)
Cash flows from operating activities
Net income	$	6,575		$	5,383
Adjustments to reconcile net income to net cash used in operating activities
Stock compensation plans		457			176
Equity in earnings of subsidiaries		(7,929	)		(5,963	)
Net change in assets and liabilities		(180	)		(16	)
Net cash used in operating activities		(1,077	)		(420	)

Cash flows from investing activities
Capital distribution from subsidiaries		7,800			1,600
Acquisition net of cash acquired		(5,568	)		—
Net cash provided by investing activities		2,232			1,600

Cash flows from financing activities
Common stock dividends paid		(884	)		(543	)
Treasury stock acquired		(274	)		—
Exercise of stock options		216			7
Deferred tax adjustment arising from stock compensation		(24	)		(27	)
Net cash used in financing activities		(966	)		(563	)
NET INCREASE IN CASH		189			617
Cash at beginning of year		2,031			1,414
Cash at end of year	$	2,220		$	2,031