Condensed Financial Information - Parent Company Only

12 Months Ended

Dec. 31, 2016

CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY [Abstract]

CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY

NOTE 24. CONDENSED FINANCIAL INFORMATION - PARENT COMPANY ONLY

Condensed financial information for the parent company only follows. 

CONDENSED BALANCE SHEETS

	As of December 31,
(In thousands)	2016		2015
Assets
Cash	$	1,027	$	10,152
Investment in non-bank subsidiaries		5,490		26,212
Investment in Royal Bank		70,856		61,309
Other assets		59		15
Total assets	$	77,432	$	97,688
Liabilities and Stockholders' Equity
Subordinated debentures	$	25,774	$	25,774
Other liabilities		10		10
Stockholders' equity		51,648		71,904
Total liabilities and stockholders' equity	$	77,432	$	97,688

CONDENSED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME

	For the years ended December 31,
(In thousands)	2016		2015
Income
Other income	$	22	$	20
Total Income		22		20
Expenses
Other expenses		230		303
Interest on subordinated debentures		742		639
Total Expenses		972		942
Loss before income taxes and equity in undistributed net income		(950)		(922)
Equity in undistributed net income		11,325		11,915
Net income	$	10,375	$	10,993
Other comprehensive loss of subsidiaries		(1,300)		(1,427)
Comprehensive income	$	9,075	$	9,566

CONDENSED STATEMENTS OF CASH FLOWS

	For the years ended December 31,
(In thousands)	2016		2015
Cash flows from operating activities
Net income	$	10,375	$	10,993
Adjustments to reconcile net income to net cash provided by operating activities:
Stock compensation expense		85		78
Undistributed income from subsidiaries		(11,325)		(11,915)
Dividend proceeds from non-banking subsidiaries		21,193		5,000
Other, net		56		(264)
Net cash provided by operating activities		20,384		3,892
Net cash provided by investing activities		—		—
Cash flows from financing activities
Redemption of preferred stock		(29,509)		—
Net cash used in financing activities		(29,509)		—
Net (decrease) increase in cash and cash equivalents		(9,125)		3,892
Cash and cash equivalents at beginning of period		10,152		6,260
Cash and cash equivalents at end of period	$	1,027	$	10,152