Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2019


		December 31,
		2019		2018
		(in thousands)
ASSETS
Cash	$	1,027	$	1,446
Other assets		407		403
Investment in subsidiaries		159,620		142,268
Total assets	$	161,054	$	144,117

LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES:
Junior subordinated debentures	$	11,330	$	11,330
Other liabilities		1,271		1,141
Total liabilities		12,601		12,471

STOCKHOLDERS’ EQUITY
Total Stockholders’ Equity	$	148,453	$	131,646
Total liabilities and stockholders’ equity	$	161,054	$	144,117


		December 31,
		2019		2018		2017
		(in thousands)
Dividends from subsidiaries	$	4,500	$	8,300	$	2,100

Income		4		147		-

Expenses		(1,323)		(927)		(771)

Income before equity in undistributed
earnings of subsidiaries		3,181		7,520		1,329

Equity in undistributed earnings of subsidiaries		13,833		8,836		9,150

Net income		17,014		16,356		10,479

Other comprehensive income		-		-		-

Comprehensive income	$	17,014	$	16,356	$	10,479


		Year Ended
		2019		2018		2017
		(in thousands)
Operating Activities:
Net income	$	17,014	$	16,356	$	10,479
Adjustments to reconcile net income to
net cash provided by operating activities:
Undistributed earnings of subsidiaries		(13,833)		(8,836)		(9,150)
Changes in assets and liabilities affecting cash flow:
Other assets		130		(470)		(13)
Other liabilities		4		250		(183)
Other		180		153		-
Net cash provided by operating activities		3,495		7,453		1,133

Investing Activities:
Proceeds from equity securities sales		-		1,960		-
Investment in subsidiaries		-		(5,000)		(11,791)
Net cash used in investing activities		-		(3,040)		(11,791)

Financing Activities:
Proceeds from issuance of common stock		1,178		1,025		15,015
Cash dividends paid		(5,092)		(4,428)		(3,819)
Purchase of Treasury stock		-		-		(342)
Net cash used in financing activities		(3,914)		(3,403)		10,854

Net increase (decrease) in cash		(419)		1,010		196

Cash beginning of year		1,446		436		240

Cash ending of year	$	1,027	$	1,446	$	436