Note 25 - Parent Company Condensed Financial Information (Tables)
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12 Months Ended |
Dec. 31, 2023 |
Notes Tables |
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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 | |
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| | $ | 105,763 | | | $ | 85,938 | |
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Liabilities and Equity: | | | | | | | | |
Accrued expenses | | $ | 530 | | | $ | 780 | |
Stockholders' equity | | | 105,233 | | | | 85,158 | |
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| | $ | 105,763 | | | $ | 85,938 | |
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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 | ) |
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Income before income taxes and equity in undistributed net income of shareholders | | | 2,972 | | | | 3,341 | | | | 2,247 | |
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Income tax benefit | | | 164 | | | | 249 | | | | 106 | |
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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 | |
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Net Income | | $ | 12,790 | | | $ | 11,902 | | | $ | 11,424 | |
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Comprehensive Income (Loss) | | $ | 24,498 | | | $ | (25,573 | ) | | $ | 6,336 | |
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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 | |
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Investing Activities: | | | | | | | | | | | | |
Investment in technology fund | | | (250 | ) | | | (100 | ) | | | (120 | ) |
Net cash used in investing activities | | | (250 | ) | | | (100 | ) | | | (120 | ) |
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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 | ) |
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Net increase (decrease) in cash | | | 1,101 | | | | 754 | | | | (1,051 | ) |
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Cash at beginning of year | | | 2,697 | | | | 1,943 | | | | 2,994 | |
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Cash at end of year | | $ | 3,798 | | | $ | 2,697 | | | $ | 1,943 | |
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