Note 12 - Condensed Financial Statements of Parent Company

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 12: Condensed Financial Statements of Parent Company

Financial information pertaining only to NBI (Parent) as of the dates indicated, is as follows:

Condensed Balance Sheets	December 31,
	2021		2020
Assets
Cash due from subsidiaries	$	2,324	$	987
Interest-bearing deposits		-		10,027
Investments in subsidiaries		189,027		189,667
Refundable income taxes		647		446
Other assets		847		791
Total assets	$	192,845	$	201,918
Liabilities and Stockholders’ Equity
Other liabilities	$	1,094	$	1,311
Stockholders’ equity		191,751		200,607
Total liabilities and stockholders’ equity	$	192,845	$	201,918

Condensed Statements of Income	Years ended December 31,
	2021		2020
Income
Dividends from subsidiaries	$	14,508	$	22,000
Other income		1		4
Total income		14,509		22,004
Expenses
Other expenses		1,135		1,179
Income before income tax benefit and equity in undistributed net income of subsidiaries		13,374		20,825
Applicable income tax benefit		293		301
Income before equity in undistributed net income of subsidiaries		13,667		21,126
Equity (deficit) in undistributed net income of subsidiaries		6,715		(5,049	)
Net income	$	20,382	$	16,077

Condensed Statements of Cash Flows	Years ended December 31,
	2021			2020
Cash Flows from Operating Expenses
Net income	$	20,382		$	16,077
Adjustments to reconcile net income to net cash provided by operating activities:
Deficit (equity) in undistributed net income of subsidiaries		(6,715	)		5,049
Net change in refundable income taxes due from subsidiaries		(201	)		(23	)
Net change in other assets		221			(45	)
Net change in other liabilities		(217	)		(2	)
Net cash provided by operating activities		13,470			21,056
Cash Flows from Investing Activities
Net change in interest-bearing deposits		10,027			(9,404	)
Net cash provided by (used in) investing activities		10,027			(9,404	)

(continued)

Cash Flows from Financing Activities
Cash dividends paid		(8,806	)		(9,000	)
Repurchase of shares		(13,354	)		(1,722	)
Net cash used in financing activities		(22,160	)		(10,722	)
Net change in cash		1,337			930
Cash due from subsidiaries at beginning of year		987			57
Cash due from subsidiaries at end of year	$	2,324		$	987