Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2022



	2022		2021
Assets
Cash and cash equivalents	$	487	$	819
Equity securities		5,000		5,000
Investment in banking subsidiary		175,123		155,391
Investment in and advances to other subsidiary		247		243
Other assets		3,027		3,374
Total assets	$	183,884	$	164,827

Liabilities and Equity
Subordinated debentures	$	14,922	$	14,883
Other borrowings		29,461		24,277
Accrued expenses and other liabilities		253		337
Stockholders' equity		139,248		125,330
Total liabilities and stockholders' equity	$	183,884	$	164,827


	2022		2021		2020
Dividend income	$	10,000	$	-	$	-
Interest income		-		414		-
Other income		675		230		178
Interest expense		1,882		1,527		1,209
Other expense		796		851		830
Loss before income tax and before undistributed subsidiary income		7,997		(1,734)		(1,861)
Tax effect		463		407		390
Loss after income tax and before undistributed subsidiary income		8,460		(1,327)		(1,471)
Equity in undistributed subsidiary income		9,704		19,780		31,079
Net income	$	18,164	$	18,453	$	29,608
Comprehensive income	$	16,297	$	18,187	$	29,676


	2022		2021		2020
Cash flows from operating activities
Net Income	$	18,164	$	18,453	$	29,608
Adjustments:
Effect of subsidiaries' operations		(9,704)		(19,780)		(31,079)
Amortization, net		39		39		38
Change in other assets and other liabilities		263		(681)		(480)
Net cash used by operating activities		8,762		(1,969)		(1,913)

Cash flows from investing activities
Investments in banking subsidiary		(11,000)		(10,000)		(5,000)
Purchase of equity securities		-		-		(5,000)
Net cash used by investing activities		(11,000)		(10,000)		(10,000)

Cash flows from financing activities
Proceeds from other borrowings		15,184		19,277		15,000
Repayments of other borrowings		(10,000)		(4,500)		(10,500)
Proceeds from exercise of stock options		387		185		36
Acquisition of treasury shares surrendered upon vesting of restricted stock for payment of taxes and exercise proceeds		(173)		(139)		(32)
Purchase of treasury shares		(2,339)		(2,972)		(648)
Dividends paid		(1,153)		(848)		(195)
Net cash from financing activities		1,906		11,003		3,661
Net change in cash and cash equivalents		(332)		(966)		(8,252)
Beginning cash and cash equivalents		819		1,785		10,037
Ending cash and cash equivalents	$	487	$	819	$	1,785