Note 26 - Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Condensed Balance Sheet [Table Text Block]

	2020		2019
Assets
Cash	$	16,440	$	9,778
Investment in subsidiaries, at cost, plus undistributed net income		87,109		81,399
Other assets		740		312
Total assets	$	104,289	$	91,489
Liabilities and Shareholders’ Equity
Subordinated debt	$	9,991	$	4,983
Junior subordinated debt		9,279		9,279
Other liabilities		103		8
Total liabilities	$	19,373	$	14,270
Preferred stock	$	—	$	—
Common stock		6,075		6,212
Surplus		6,151		7,700
Retained earnings		69,292		62,583
Accumulated other comprehensive income, net		3,398		724
Total shareholders’ equity	$	84,916	$	77,219
Total liabilities and shareholders’ equity	$	104,289	$	91,489

Condensed Income Statement [Table Text Block]

	2020		2019
Income
Dividends from subsidiary	$	6,600	$	3,600
Total income	$	6,600	$	3,600
Expense
Interest expense	$	794	$	782
Supplies		3		3
Legal and professional fees		215		137
Data processing		29		26
Management fee-subsidiary		294		283
Other expense		80		103
Total expense	$	1,415	$	1,334
Income before allocated tax benefits and undistributed income of subsidiary	$	5,185	$	2,266
Allocated income tax benefit		297		280
Income before equity in undistributed income of subsidiary	$	5,482	$	2,546
Equity in undistributed income of subsidiary		3,376		7,010
Net income	$	8,858	$	9,556

Condensed Cash Flow Statement [Table Text Block]

	2020			2019
Cash Flows from Operating Activities
Net income	$	8,858		$	9,556
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiary		(3,376	)		(7,010	)
Amortization of debt issuance costs		18			18
Decrease in other assets		3			2
Increase (decrease) in other liabilities		4			(2	)
Net cash provided by operating activities	$	5,507		$	2,564
Cash Flows from Financing Activities
Proceeds from subordinated debt, net of issuance costs	$	4,990		$	—
Cash dividends paid on common stock, net of reinvestment		(2,007	)		(1,674	)
Distribution of capital to subsidiary		—			(3,500	)
Net proceeds from issuance of common stock		290			183
Repurchase of common stock		(2,118	)		(52	)
Net cash provided by (used in) financing activities	$	1,155		$	(5,043	)
Increase (decrease) in cash and cash equivalents	$	6,662		$	(2,479	)
Cash and Cash Equivalents
Beginning		9,778			12,257
Ending	$	16,440		$	9,778