Note 18 - Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Condensed Balance Sheet [Table Text Block]

Condensend Balance Sheets	December 31,
	2021		2020
(in thousands)
Assets
Cash	$	114	$	1,027
Investment in subsidiary		70,475		59,201
Other assets		27		27
Total assets	$	70,616	$	60,255
Liabilities and Stockholders' Equity
Liabilities:
Other borrowings	$	3,575	$	-
Accrued interest		10		-
Total liabilities		3,585		-
Stockholders' equity		67,031		60,255
Total liabilities and stockholders' equity	$	70,616	$	60,255

Condensed Income Statement [Table Text Block]

Condensed Statements of Earnings	Year Ended December 31,
	2021			2020
(in thousands)
Revenues	$	-		$	-
Expenses		(590	)		(505	)
Income tax benefit		140			124
Loss before earnings of subsidiary		(450	)		(381	)
Net earnings of subsidiary		8,797			4,839
Net earnings	$	8,347		$	4,458

Condensed Cash Flow Statement [Table Text Block]

Condensed Statements of Cash Flows		Year Ended December 31,
(in thousands)	2021			2020
Cash flows from operating activities:
Net Earnings	$	8,347		$	4,458
Adjustments to reconcile net earnings to net cash used in operating activities:
Equity in earnings of subsidiary		(8,797	)		(4,839	)
Stock issued as compensation		111			93
Net change in other assets and other liabilities		11			(7	)
Net cash used in operating activities		(328	)		(295	)
Cash flows from investment activities-
Cash infusion to subsidiary		(3,725	)		(6,000	)
Net cash used in investing activities		(3,725	)		(6,000	)
Cash flows from financing activities:
Proceeds from other borrowings		3,575			-
Common stock retirement		-			(1,217	)
Cash dividend paid		(438	)		(383	)
Proceeds from stock options exercised		3			27
Net cash provided by (used in) financing activities		3,140			(1,573	)
Net decrease in cash		(913	)		(7,868	)
Cash at beginning of the year		1,027			8,895
Cash at end of year	$	114		$	1,027
Supplemental disclosure of cash flow information-
Noncash items:
Net change in accumulated other comprehensive income of subsidiary, net of change in
unrealized gain on debt securities available for sale, net of tax	$	(1,474	)	$	1,201
Stock-based compensation expense of subsidiary	$	338		$	301