Condensed Financial Information (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Balance Sheet

Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company (in thousands):

Condensed Balance Sheets
	2021		2020
Assets
Cash and cash equivalents	$	21,545	$	32,736
Investment in subsidiaries	156,269		157,034
Other assets	4,950		4,810
Total assets	$	182,764	$	194,580
Other Liabilities	$	2,283	$	1,867
Stockholders' Equity	180,481		192,713
Total liabilities and stockholders' equity	$	182,764	$	194,580

Condensed Statement of Income and Comprehensive Income

Condensed Statements of Income and Comprehensive Income
	2021		2020
Other income	$	464	$	668
Expenses - other expenses	3,329		2,140
Loss before income taxes and equity in undistributed net income (loss) of subsidiaries	(2,865)		(1,472)
Income tax benefit	(639)		(372)
Loss before equity in undistributed net income (loss) of subsidiary	(2,226)		(1,100)
Equity in undistributed net income (loss) of subsidiaries	13,371		11,118
Net Income	$	11,145	$	10,018
Comprehensive Income	$	6,224	$	14,387

Condensed Cash Flow Statement

Condensed Statements of Cash Flows
	2021		2020
Operating Activities
Net income	$	11,145	$	10,018
Undistributed equity of subsidiaries	(13,371)		(11,118)
ESOP expense	796		648
Other changes	(509)		(538)
Stock based compensation	1,811		811
Net cash used in operating activities	(128)		(179)
Investing Activities
Dividends received from subsidiaries	10,000		—
Net cash provided by investing activities	10,000		—
Financing Activities
Dividends paid	(9,277)		(1,839)
Repurchase of common stock	(11,914)		(9,081)
Proceeds from stock option exercises	128		—
Net cash used in financing activities	(21,063)		(10,920)
Net Change in Cash and Cash Equivalents	(11,191)		(11,099)
Cash and Cash Equivalents, Beginning of Period	32,736		43,835
Cash and Cash Equivalents, End of Period	$	21,545	$	32,736