Note 18 - Parent Only Condensed Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Condensed Balance Sheet [Table Text Block]

	2020		2019
ASSETS
Cash and cash equivalents	$	415,000	$	510,000
Investment in bank subsidiary		109,087,000		93,670,000
Other assets		978,000		658,000
Total assets	$	110,480,000	$	94,838,000
LIABILITIES AND SHAREHOLDERS' EQUITY
Other liabilities	$	16,000	$	23,000
Junior subordinated deferrable interest debentures		10,310,000		10,310,000
Total liabilities		10,326,000		10,333,000
Shareholders' equity:
Common stock		7,656,000		7,312,000
Retained earnings		87,753,000		75,144,000
Accumulated other comprehensive income (loss)		4,745,000		2,049,000
Total shareholders' equity		100,154,000		84,505,000
Total liabilities and shareholders' equity	$	110,480,000	$	94,838,000

Condensed Income Statement [Table Text Block]

	2020		2019		2018
Income:
Dividends declared by bank subsidiary	$	2,375,000	$	2,800,000	$	2,000,000
Earnings from investment in Plumas Statuory Trust I and II		11,000		16,000		15,000
Total income		2,386,000		2,816,000		2,015,000
Expenses:
Interest on junior subordinated deferrable interest debentures		385,000		531,000		510,000
Other expenses		369,000		315,000		326,000
Total expenses		754,000		846,000		836,000
Income before equity in undistributed income of subsidiary		1,632,000		1,970,000		1,179,000
Equity in undistributed income of subsidiary		12,623,000		13,261,000		12,479,000
Income before income taxes		14,255,000		15,231,000		13,658,000
Income tax benefit		220,000		281,000		334,000
Net income	$	14,475,000	$	15,512,000	$	13,992,000
Total comprehensive income	$	17,171,000	$	19,578,000	$	12,545,000

Condensed Cash Flow Statement [Table Text Block]

	2020			2019			2018
Cash flows from operating activities:
Net income	$	14,475,000		$	15,512,000		$	13,992,000
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed income of subsidiary		(12,623,000	)		(13,261,000	)		(12,479,000	)
Stock-based compensation expense		57,000			54,000			47,000
(Increase) decrease in other assets		(220,000	)		(56,000	)		51,000
(Decrease) increase in other liabilities		(7,000	)		(17,000	)		25,000
Net cash provided by operating activities		1,682,000			2,232,000			1,636,000
Cash flows from financing activities:
Cash dividends paid on common stock		(1,866,000	)		(2,373,000	)		(1,842,000	)
Proceeds from exercise of stock options		89,000			144,000			330,000
Net cash used in financing activities		(1,777,000	)		(2,229,000	)		(1,512,000	)
(Decrease) increase in cash and cash equivalents		(95,000	)		3,000			124,000
Cash and cash equivalents at beginning of year		510,000			507,000			383,000
Cash and cash equivalents at end of year	$	415,000		$	510,000		$	507,000