Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2018



	2018		2017
Assets
Cash and cash equivalents	$	2,675	$	523
Investment in banking subsidiary		62,479		43,633
Investment in and advances to other subsidiary		233		228
Other assets		1,213		1,232
Total assets	$	66,600	$	45,616

Liabilities and Equity
Subordinated debentures	$	14,767	$	5,155
Other borrowings		6,000		-
Accrued expenses and other liabilities		274		200
Stockholders' equity		45,559		40,261
Total liabilities and stockholders' equity	$	66,600	$	45,616



	2018		2017

Interest income	$	-	$	4
Other income		95		48
Interest expense		604		212
Other expense		877		815
Loss before income tax and before undistributed subsidiary income		(1,386)		(975)
Tax effect		290		330
Loss after income tax and before undistributed subsidiary income		(1,096)		(645)
Equity in undistributed subsidiary income		5,369		1,991
Net income	$	4,273	$	1,346
Comprehensive income	$	4,247	$	1,297


	2018		2017
Cash flows from operating activities
Net Income	$	4,273	$	1,346
Adjustments:
Effect of subsidiaries' operations		(5,369)		(1,991)
Change in other assets and other liabilities		95		(268)
Net cash used by operating activities		(1,001)		(913)

Cash flows from investing activities
Investments in banking subsidiary		(13,133)		-
Net cash used by investing activities		(13,133)		-

Cash flows from financing activities
Proceeds from other borrowings		8,000		-
Repayments of other borrowings		(2,000)		-
Net proceeds from issuance of subordinated debentures		9,612		-
Acquisition of treasury shares surrendered upon vesting of restricted stock for payment of taxes		(42)		(49)
Exercise of warrants to common stock		716		38
Dividends paid on Series B preferred stock		-		(750)
Net cash from (used by) financing activities		16,286		(761)
Net change in cash and cash equivalents		2,152		(1,674)
Beginning cash and cash equivalents		523		2,197
Ending cash and cash equivalents	$	2,675	$	523