Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

Parent Company Financial Statements

Schedule of parent only consolidated balance sheets

	December 31,		December 31,
(dollars in thousands, except per share data)	2018		2017
Investments in subsidiaries		109,867	—
Total assets	$	109,867	—
Stockholders’ equity:
Common stock, $1 par value. Authorized 10,000,000 shares; issued and outstanding 6,406,795 and 6,392,287 as of December 31, 2018 and December 31, 2017		6,407	—
Surplus		79,919	—
Retained earnings		23,931	—
Accumulated other comprehensive loss		(390)	—
Total stockholders’ equity		109,867	—
Total liabilities and stockholders’ equity	$	109,867	—

Schedule of parent only consolidated statements of operations

	Year ended
	December 31,
(dollars in thousands, except per share data)	2018		2017
Dividends from subsidiaries	$	—	—
Net interest and other income		—	—
Total operating income		—	—
Expenses		—	—
Income before equity in undistributed income of subsidiaries		—	—
Equity in undistributed income of subsidiaries		8,163	—
Income before income taxes		8,163	—
Income tax (benefit) expense		—	—
Net income		8,163	—
Total other comprehensive income		(92)	—
Total comprehensive income	$	8,071

Schedule of parent only consolidated statements of cash flows

	Year ended
	December 31,
(dollars in thousands)	2018		2017
Net income	$	8,163	—
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiaries		(8,163)	—
Net cash provided by operating activities		—	—
Cash flows from investing activities:
Net cash used in investing activities		—	—
Cash flows from financing activities:
Net cash provided by financing activities		—	—
Net change in cash and cash equivalents		—	—
Cash and cash equivalents at beginning of period		—	—
Cash and cash equivalents at end of period	$	—	—