Note 12 - Condensed Financial Statements of Parent Company

12 Months Ended

Dec. 31, 2022

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 and for the years indicated, is as follows:

Condensed Balance Sheets	December 31,
	2022		2021
Assets
Cash due from subsidiaries	$	14,927	$	2,324
Investments in subsidiaries		107,746		189,027
Refundable income taxes		70		647
Other assets		648		847
Total assets	$	123,391	$	192,845
Liabilities and Stockholders’ Equity
Other liabilities	$	704	$	1,094
Stockholders’ equity		122,687		191,751
Total liabilities and stockholders’ equity	$	123,391	$	192,845

Condensed Statements of Income	Years ended December 31,
	2022			2021
Income
Dividends from subsidiaries	$	25,000		$	14,508
Gain on sale of private equity investments		3,823			-
Other income		-			1
Total income		28,823			14,509
Expenses
Other expenses		1,220			1,135
Income before income tax (expense) benefit and equity in undistributed net income of subsidiaries		27,604			13,374
Applicable income tax (expense) benefit		491			(293	)
Income before equity (deficit) in undistributed net income of subsidiaries		27,112			13,667
Equity (deficit) in undistributed net income of subsidiaries		(1,180	)		6,715
Net income	$	25,932		$	20,382

Condensed Statements of Cash Flows	Years ended December 31,
	2022			2021
Cash Flows from Operating Activities
Net income	$	25,932		$	20,382
Adjustments to reconcile net income to net cash provided by operating activities:
(Equity) deficit in undistributed net income of subsidiaries		1,180			(6,715	)
Net change in refundable income taxes due from subsidiaries		576			(201	)
Net change in other assets		593			221
Net change in other liabilities		(390	)		(217	)
Net cash provided by operating activities		27,891			13,470
Cash Flows from Investing Activities
Net change in interest-bearing deposits		-			10,027
Net cash provided by investing activities		-			10,027
Cash Flows from Financing Activities
Cash dividends paid		(8,950	)		(8,806	)
Shares repurchased		(6,338	)		(13,354	)
Net cash used in financing activities		(15,288	)		(22,160	)
Net change in cash		12,603			1,337
Cash due from subsidiaries at beginning of year		2,324			987
Cash due from subsidiaries at end of year	$	14,927		$	2,324