Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Parent Company Only Condensed Financial Information [Abstract]

Condensed Balance Sheets

	2020		2019
Assets
Cash and cash equivalents	$	1,785	$	10,037
Equity securities		5,000		-
Investment in banking subsidiary		125,172		88,317
Investment in and advances to other subsidiary		241		238
Other assets		2,533		2,045
Total assets	$	134,731	$	100,637
Liabilities and Equity
Subordinated debentures	$	14,844	$	14,806
Other borrowings		9,500		5,000
Accrued expenses and other liabilities		177		167
Stockholders' equity		110,210		80,664
Total liabilities and stockholders' equity	$	134,731	$	100,637

Condensed Statements Of Operations

	2020		2019
Interest income	$	-	$	-
Other income		178		70
Interest expense		1,209		1,353
Other expense		830		758
Loss before income tax and before undistributed subsidiary income		(1,861)		(2,041)
Tax effect		390		427
Loss after income tax and before undistributed subsidiary income		(1,471)		(1,614)
Equity in undistributed subsidiary income		31,079		11,215
Net income	$	29,608	$	9,601
Comprehensive income	$	29,676	$	9,702

Condensed Statements Of Cash Flows

	2020		2019
Cash flows from operating activities
Net Income	$	29,608	$	9,601
Adjustments:
Effect of subsidiaries' operations		(31,079)		(11,215)
Amortization, net		38		39
Change in other assets and other liabilities		(480)		(939)
Net cash used by operating activities		(1,913)		(2,514)
Cash flows from investing activities
Investments in banking subsidiary		(5,000)		(14,000)
Purchase of equity securities		(5,000)		-
Net cash used by investing activities		(10,000)		(14,000)
Cash flows from financing activities
Proceeds from other borrowings		15,000		4,000
Repayments of other borrowings		(10,500)		(5,000)
Net proceeds from the issuance of preferred stock private placement		-		14,000
Net proceeds from the issuance of common stock private placement		-		9,641
Proceeds from exercise of stock options		36		-
Acquisition of treasury shares surrendered upon vesting of restricted stock for payment of taxes		(32)		(23)
Purchase of treasury shares		(648)		-
Exercise of warrants to common stock		-		1,258
Dividends paid		(195)		-
Net cash from financing activities		3,661		23,876
Net change in cash and cash equivalents		(8,252)		7,362
Beginning cash and cash equivalents		10,037		2,675
Ending cash and cash equivalents	$	1,785	$	10,037