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Note 25 - Parent Company Condensed Financial Information (Tables)
12 Months Ended
Dec. 31, 2023
Notes Tables  
Condensed Financial Information of Parent Company Only, Statements of Financial Condition [Table Text Block]

Balance Sheets

 

(In thousands)

 
  

As of December 31,

 
  

2023

  

2022

 

Assets:

        

Cash and cash equivalents

 $3,798  $2,697 

Other assets

  2,528   2,816 

Investment in subsidiaries

  99,437   80,425 
         
  $105,763  $85,938 
         

Liabilities and Equity:

        

Accrued expenses

 $530  $780 

Stockholders' equity

  105,233   85,158 
         
  $105,763  $85,938 
Condensed Financial Information of Parent Company Only, Statement of Income [Table Text Block]

Statements of Income

 

(In thousands)

 
  

Years Ended December 31,

 
  

2023

  

2022

  

2021

 
             

Dividend income from subsidiaries

 $3,745  $4,475  $2,685 

Other income

  115   105   69 

Income (loss) on equity securities

  (207)  (414)  328 

Other operating expenses

  (681)  (825)  (835)
             

Income before income taxes and equity in undistributed net income of shareholders

  2,972   3,341   2,247 
             

Income tax benefit

  164   249   106 
             

Income before equity in undistributed net income of subsidiaries

  3,136   3,590   2,353 

Equity in undistributed net income of subsidiaries

  9,654   8,312   9,071 
             

Net Income

 $12,790  $11,902  $11,424 
             

Comprehensive Income (Loss)

 $24,498  $(25,573) $6,336 
Condensed Financial Information of Parent Company Only, Statements of Cash Flows [Table Text Block]

Statements of Cash Flows

 

(In thousands)

 
  

Years Ended December 31,

 
  

2023

  

2022

  

2021

 

Operating Activities:

            

Net income

 $12,790  $11,902  $11,424 

Adjustments to reconcile net income to cash provided by operating activities:

            

Equity in undistributed net income of subsidiaries

  (9,654)  (8,312)  (9,071)

Dissolution of Captive

  1,822   -   - 

Stock compensation expense

  252   436   487 

Unrealized loss (gain) on equity securities

  207   414   (328)

Net change in other assets and liabilities

  80   (53)  191 

Net cash provided by operating activities

  5,497   4,387   2,703 
             

Investing Activities:

            

Investment in technology fund

  (250)  (100)  (120)

Net cash used in investing activities

  (250)  (100)  (120)
             

Financing Activities:

            

Purchase of treasury stock

  (502)  -   (40)

Tax paid on stock award shares for employees

  (23)  (26)  (85)

Cash dividends paid

  (3,621)  (3,507)  (3,509)

Net cash used in financing activities

  (4,146)  (3,533)  (3,634)
             

Net increase (decrease) in cash

  1,101   754   (1,051)
             

Cash at beginning of year

  2,697   1,943   2,994 
             

Cash at end of year

 $3,798  $2,697  $1,943