Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
NOTE 18 - Parent Company Only Statements
|
|
(Dollars in thousands) |
|
|
|
NorthWest Indiana Bancorp |
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|
|
Condensed Balance Sheets |
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|
|
December 31, |
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|
|
2011 |
|
|
2010 |
|
Assets |
|
|
|
|
|
|
|
|
Cash on deposit with Peoples Bank |
|
$ |
1,191 |
|
|
$ |
1,093 |
|
Investment in Peoples Bank |
|
|
62,601 |
|
|
|
55,754 |
|
Dividends receivable from Peoples Bank |
|
|
425 |
|
|
|
427 |
|
Other assets |
|
|
127 |
|
|
|
102 |
|
Total assets |
|
$ |
64,344 |
|
|
$ |
57,376 |
|
|
|
|
|
|
|
|
|
|
Liabilities and stockholders’ equity |
|
|
|
|
|
|
|
|
Dividends payable |
|
$ |
425 |
|
|
$ |
427 |
|
Other liabilities |
|
|
959 |
|
|
|
860 |
|
Total liabilities |
|
|
1,384 |
|
|
|
1,287 |
|
|
|
|
|
|
|
|
|
|
Common stock |
|
|
361 |
|
|
|
361 |
|
Additional paid in capital |
|
|
5,173 |
|
|
|
5,140 |
|
Accumulated other comprehensive income (loss) |
|
|
2,536 |
|
|
|
(492 |
) |
Retained earnings |
|
|
56,032 |
|
|
|
52,398 |
|
Treasury stock |
|
|
(1,142 |
) |
|
|
(1,318 |
) |
Total stockholders’ equity |
|
|
62,960 |
|
|
|
56,089 |
|
Total liabilities and stockholders’ equity |
|
$ |
64,344 |
|
|
$ |
57,376 |
|
|
|
(Dollars in thousands) |
|
|
|
NorthWest Indiana Bancorp |
|
|
|
Condensed Statements of Income |
|
|
|
Year Ended December 31, |
|
|
|
2011 |
|
|
2010 |
|
|
|
|
|
|
|
|
Dividends from Peoples Bank |
|
$ |
1,699 |
|
|
$ |
1,443 |
|
Operating expenses |
|
|
204 |
|
|
|
201 |
|
Income before income taxes and equity in undistributed income of Peoples Bank |
|
|
1,495 |
|
|
|
1,242 |
|
Income tax benefit |
|
|
(69 |
) |
|
|
(72 |
) |
Income before equity in undistributed income of Peoples Bank |
|
|
1,564 |
|
|
|
1,314 |
|
Equity in undistributed income of Peoples Bank |
|
|
3,821 |
|
|
|
3,865 |
|
Net income |
|
$ |
5,385 |
|
|
$ |
5,179 |
|
|
|
(Dollars in thousands) |
|
|
|
NorthWest Indiana Bancorp |
|
|
|
Condensed Statements of Cash Flows |
|
|
|
Year Ended December 31, |
|
|
|
2011 |
|
|
2010 |
|
|
|
|
|
|
|
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Net income |
|
$ |
5,385 |
|
|
$ |
5,179 |
|
Adjustments to reconcile net income to |
|
|
|
|
|
|
|
|
net cash from operating activities |
|
|
|
|
|
|
|
|
Equity in undistributed net income of Peoples Bank |
|
|
(4,139 |
) |
|
|
(2,877 |
) |
Deferred tax expense/(benefit) |
|
|
318 |
|
|
|
(988 |
) |
Stock based compensation expense |
|
|
33 |
|
|
|
36 |
|
Change in other assets |
|
|
(23 |
) |
|
|
(421 |
) |
Change in other liabilities |
|
|
99 |
|
|
|
(478 |
) |
Total adjustments |
|
|
(3,712 |
) |
|
|
(4,728 |
) |
Net cash from operating activities |
|
|
1,673 |
|
|
|
451 |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Dividends paid |
|
|
(1,699 |
) |
|
|
(2,200 |
) |
Proceeds from sale of treasury stock |
|
|
124 |
|
|
|
151 |
|
Net cash used in financing activities |
|
|
(1,575 |
) |
|
|
(2,049 |
) |
Net change in cash |
|
|
98 |
|
|
|
(1,598 |
) |
Cash at beginning of year |
|
|
1,093 |
|
|
|
2,691 |
|
Cash at end of year |
|
$ |
1,191 |
|
|
$ |
1,093 |
|
|