Note 22 - Parent Only Balance Sheets, Statements of Operations and Statements of Cash Flows (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Condensed Balance Sheet [Table Text Block]

BALANCE SHEETS
	December 31,
(dollars in thousands)	2021		2020
ASSETS
Cash and due from banks	$	3,193	$	19,678
Equity securities		1,333		1,178
Due from bank subsidiary		968		909
Investment in bank subsidiary		289,640		271,619
Investment in trust		295		202
Trademark intangible		100		100
Other assets		299		63
Total assets	$	295,828	$	293,749
LIABILITIES
Subordinated debt, net of unamortized issuance costs	$	42,989	$	42,897
Junior subordinated debt		8,384		5,949
Accounts payable		87		167
Accrued interest payable		609		606
Dividend payable		829		694
Deferred tax liability		332		152
Total liabilities		53,230		50,465
STOCKHOLDERS’ EQUITY
Common stock		10,343		10,609
Surplus		154,932		159,485
Retained earnings		76,160		71,385
Accumulated other comprehensive income		1,163		1,805
Total stockholders’ equity		242,598		243,284
Total liabilities and stockholders’ equity	$	295,828	$	293,749

Condensed Income Statement [Table Text Block]

STATEMENTS OF OPERATIONS
	For the year ended December 31,
(dollars in thousands)	2021			2020
REVENUE
Dividends received from bank subsidiary	$	35,000		$	—
Dividends on corporate stock		29			78
Partnership income		—			19
Change in the fair value of equity securities		228			258
Interest income from investment in trust		5			5
Total revenue		35,262			360
EXPENSE
Interest on borrowings		2,777			2,713
Management fees to bank subsidiary		360			360
Acquisition expense		22			72
Other expense		411			574
Total expense		3,570			3,719
Income (loss) before income taxes and equity in undistributed (loss) income of bank subsidiary		31,692			(3,359	)
Equity in undistributed (loss) income of bank subsidiary		(24,440	)		16,563
Income tax benefit		748			685
Net income	$	8,000		$	13,889

Condensed Cash Flow Statement [Table Text Block]

STATEMENTS OF CASH FLOWS
	For the year ended December 31,
(dollars in thousands)	2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	8,000		$	13,889
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of bank subsidiary		24,440			(16,563	)
Change in the fair value of equity securities		(228	)		(258	)
Amortization of debt issuance costs and purchase accounting adjustments		200			123
Net change in:
Due from bank subsidiary		(59	)		(197	)
Other assets		18			10
Deferred tax asset		180			142
Accrued other liabilities		1,341			(23	)
Net cash provided by (used in) operating activities		33,892			(2,877	)
CASH FLOWS FROM INVESTING ACTIVITIES
Distributions from investments		—			77
Purchases of equity securities		(500	)		(2,449	)
Proceeds from the sale of equity securities		574			3,144
Purchases of other investments		(233	)		—
Cash paid for acquisition of Cheaha Financial Group, net of cash acquired		(40,935	)		—
Net cash (used in) provided by investing activities		(41,094	)		772
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividends paid on common stock		(3,090	)		(2,686	)
Payments to repurchase common stock		(6,925	)		(11,112	)
Proceeds from stock options exercised		732			46
Net cash used in financing activities		(9,283	)		(13,752	)
Net decrease in cash		(16,485	)		(15,857	)
Cash and cash equivalents, beginning of period		19,678			35,535
Cash and cash equivalents, end of period	$	3,193		$	19,678
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash payments for:
Interest on borrowings	$	2,774		$	2,571