PARENT-ONLY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

PARENT-ONLY FINANCIAL INFORMATION

NOTE 17 – PARENT-ONLY FINANCIAL INFORMATION

Condensed Statements of Financial Condition

(Dollar amounts in thousands)	2021
ASSETS
Cash and due from banks	$	20,736
Investment in subsidiary bank		121,233
Loan from Bogota Savings Bank		5,626
Total assets	$	147,595
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Other liabilities		19
Total liabilities		19
Total stockholders' equity		147,576
Total liabilities and stockholders' equity	$	147,595

Condensed Statements of Income

(Dollar amounts in thousands)	2021
Interest income
Loans	$	276
Total interest income		276
Non-interest expenses
Merger costs		392
Total non-interest expenses		392
Income(loss) before income taxes		(116	)
Income tax expense		133
Net income before undistributed earnings of subsidiaries		(249	)
Undistibuted earnings of subsidiaries		7,769
Net income	$	7,520

Condensed Statements of Cash Flows

	2021
Cash flows from operating activities
Net income before undistributed earnings of subsidiaries	$	7,520
Undistributed earnings of subsidiaries		(7,769	)
Net changes in other liabilities		(11	)
Net cash used in operating activities		(260	)
Cash flows from investing activities
Net decrease in loans		195
Net cash provided by (used in) investing activities		195
Cash flows from financing activities
Repurchase of common stock		(482	)
Net cash used in financing activities		(482	)
Net increase (decrease) in cash and cash equivalents		(547	)
Cash and cash equivalents – beginning of year		21,283
Cash and cash equivalents – end of year	$	20,736