| National Commerce Corporation (Parent Company Only) Financial Information |
| (16) |
National Commerce Corporation
(Parent Company Only) Financial Information |
Balance Sheets
December 31, 2014 and 2013
|
|
|
|
|
|
|
|
|
| |
|
2014 |
|
|
2013 |
|
| Assets |
|
|
|
|
|
|
|
|
|
Cash and due from banks
|
|
$ |
829 |
|
|
|
805 |
|
|
Investment in subsidiaries
|
|
|
133,909 |
|
|
|
87,609 |
|
|
Other assets
|
|
|
1,557 |
|
|
|
535 |
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
136,295 |
|
|
|
88,949 |
|
|
|
|
|
|
|
|
|
|
| Liabilities and
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Other liabilities
|
|
$ |
134 |
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities
|
|
|
134 |
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
Commitments
|
|
|
|
|
|
|
|
|
|
Shareholders’ equity:
|
|
|
|
|
|
|
|
|
|
Common stock
|
|
|
75 |
|
|
|
5,730 |
|
|
Additional paid-in capital
|
|
|
131,455 |
|
|
|
91,774 |
|
|
Accumulated deficit
|
|
|
(3,453 |
) |
|
|
(8,856 |
) |
|
Accumulated other comprehensive income
|
|
|
845 |
|
|
|
291 |
|
|
|
|
|
|
|
|
|
|
|
Total shareholders’ equity attributable to NCC
|
|
|
128,922 |
|
|
|
88,939 |
|
|
Noncontrolling interest
|
|
|
7,239 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Total shareholders’ equity
|
|
|
136,161 |
|
|
|
88,939 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and shareholders’ equity
|
|
$ |
136,295 |
|
|
|
88,949 |
|
|
|
|
|
|
|
|
|
|
Statements of Earnings
For the Years Ended December 31, 2014, 2013 and
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
Income
|
|
$ |
— |
|
|
|
— |
|
|
|
— |
|
|
Other expense
|
|
|
458 |
|
|
|
123 |
|
|
|
97 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
458 |
|
|
|
123 |
|
|
|
97 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before equity in undistributed earnings of subsidiaries
|
|
|
(458 |
) |
|
|
(123 |
) |
|
|
(97 |
) |
|
Equity in undistributed earnings of subsidiaries
|
|
|
5,764 |
|
|
|
4,079 |
|
|
|
2,117 |
|
|
Income tax benefit
|
|
|
97 |
|
|
|
50 |
|
|
|
37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings
|
|
$ |
5,403 |
|
|
|
4,006 |
|
|
|
2,057 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Cash Flows
For the Years Ended December 31, 2014, 2013 and
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings
|
|
$ |
5,403 |
|
|
|
4,006 |
|
|
|
2,057 |
|
|
Adjustments to reconcile net earnings to net cash used by operating
activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in undistributed earnings of subsidiaries
|
|
|
(5,764 |
) |
|
|
(4,079 |
) |
|
|
(2,117 |
) |
|
Depreciation
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
Deferred income tax expense (benefit)
|
|
|
162 |
|
|
|
(81 |
) |
|
|
(37 |
) |
|
Change in other assets
|
|
|
(285 |
) |
|
|
— |
|
|
|
— |
|
|
Change in other liabilities
|
|
|
121 |
|
|
|
10 |
|
|
|
(25 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used by operating activities
|
|
|
(362 |
) |
|
|
(144 |
) |
|
|
(122 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid in acquisition
|
|
|
(3,201 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used by financing activities
|
|
|
(3,201 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from stock offerings, net of offering expenses of $28
|
|
|
2,972 |
|
|
|
— |
|
|
|
— |
|
|
Proceeds from exercise of stock options and warrants
|
|
|
615 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by financing activities
|
|
|
3,587 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash
|
|
|
24 |
|
|
|
(144 |
) |
|
|
(122 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash at beginning of year
|
|
|
805 |
|
|
|
949 |
|
|
|
1,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash at end of year
|
|
$ |
829 |
|
|
|
805 |
|
|
|
949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|