Parent Company Financial Information

12 Months Ended

Dec. 31, 2011

Parent Company Financial Information [Abstract]

Note 15. Parent Company Financial Information

Information as to the financial position of CommerceFirst Bancorp, Inc. as of December 31, 2011 and 2010 and results of operations and cash flows for the years then ended follows:


In thousands	December 31,		December 31,
Statements of Financial Condition	2011		2010
Assets
Cash in CommerceFirst Bank	$	1,202	$	1,448
Investment in subsidiary		22,917		20,957
Other assets		152		—

	$	24,271	$	22,405

Liabilities and Stockholders’ Equity
Accrued expenses	$	91	$	40
Stockholders’ equity		24,180		22,365

	$	24,271	$	22,405


	Year ended			Year ended
In thousands	December 31,			December 31,
Statements of Operations	2011			2010
Interest income from deposit in CommerceFirst Bank	$	6		$	9
Administrative expenses		226			145

Loss before equity in undistributed net income of bank subsidiary and income tax benefit		(220	)		(136	)
Income tax benefit		75			46

Loss before equity in undistributed net income of bank subsidiary		(145	)		(90	)
Equity in undistributed net income of bank subsidiary		1,960			1,513

Net income	$	1,815		$	1,423


	Year ended			Year ended
In thousands	December 31,			December 31,
Statements of Cash Flows	2011			2010
Cash flows from operating activities:
Net income	$	1,815		$	1,423
Equity in undistributed earnings of bank subsidiary		(1,960	)		(1,513	)
Increase in other assets		(152	)		—
Increase in payables		51			2

Net cash used in operating activities		(246	)		(88	)


(Decrease) in cash and cash equivalents		(246	)		(88	)
Cash and cash equivalents at beginning of period		1,448			1,536

Cash and cash equivalents at end of period	$	1,202		$	1,448

- 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.

+ References+ Details

COMMERCEFIRST BANCORP INC 10-K