the Bank’s total capital in relation to its assets, deposits, and other such items. Capital adequacy considerations could further  limit the availability of dividends from the Bank. At December 31, 2011, the Bank could have declared additional dividends  of approximately $4.9 million without prior approval of regulatory authorities. As a result of this limitation, approximately $66.9 million of the Company’s investment in the Bank was restricted from transfer in the form of dividends. The Parent Company’s condensed balance sheet and related condensed statements of earnings and cash flows are as  follows: page 76 NOTE 21: AUBURN NATIONAL BANCORPORATION (PARENT COMPANY) Year ended December 31 (Dollars in thousands) 2011 2010 2009 Income: Dividends from bank subsidiary $ 3,158 3,085 3,014 Noninterest income 385 417 445 Total income 3,543 3,502 3,459 Expense: Interest expense 236 236 236 Noninterest expense 485 577 587 Total expense 721 813 823 Earnings before income tax benefit and equity in undistributed earnings of bank subsidiary 2,822 2,689 2,636 Income tax benefit (31) (65) (97) Earnings before equity in undistributed earnings of bank subsidiary 2,853 2,754 2,733 Equity in undistributed (distributed) earnings of bank subsidiary 2,685 2,592 (329) Net earnings $ 5,538 5,346 2,404 CONDENSED STATEMENTS OF EARNINGS December 31 (Dollars in thousands) 2011 2010 Assets: Cash and due from banks $ 1,369 804 Investment in bank subsidiary 71,842 59,534 Premises and equipment 170 3,388 Other assets 1,178 575 Total assets $ 74,559 64,301 Liabilities: Accrued expenses and other liabilities $ 1,926 716 Long-term debt 7,217 7,217 Total liabilities 9,143 7,933 Stockholders' equity 65,416 56,368 Total liabilities and stockholders' equity $ 74,559 64,301 CONDENSED BALANCE SHEETS