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Parent Company financial statements (Tables) | 12 Months Ended
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Dec. 31, 2020
Parent Company financial statements |
Condensed Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31 |  | 2020 |  | 2019 |
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 1,069 | ​ | $ | 5,192 | ​
Equity securities | ​ | ​ | 138 | ​ | ​ | 423 | ​
Investment in bank subsidiary | ​ |  | 348,584 | ​ |  | 293,415 | ​
Other assets | ​ |  | 273 | ​ |  | 19 | ​
Total assets | ​ | $ | 350,064 | ​ | $ | 299,049 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders’ Equity: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subordinated debt | ​ | $ | 33,000 | ​ | ​ | ​ | ​
Accrued interest payable | ​ | ​ | 148 | ​ | ​ | ​ | ​
Other liabilities | ​ | ​ | 39 | ​ | $ | 39 | ​
Stockholders’ equity | ​ |  | 316,877 | ​ |  | 299,010 | ​
Total liabilities and stockholders’ equity | ​ | $ | 350,064 | ​ | $ | 299,049 | ​
Condensed Statements of Income and Comprehensive Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ended December 31 |  | 2020 |  | 2019 |  | 2018 |
Income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends from subsidiaries | ​ | $ | 10,518 | ​ | $ | 10,131 | ​ | $ | 9,691 | ​
Other income | ​ | ​ | 8 | ​ | ​ | 8 | ​ | ​ | 72 | ​
Net gain realized on sale of equity securities | ​ | ​ | 29 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized holding gains (losses) on equity securities | ​ |  | (35) | ​ |  | 132 | ​ |  | 13 | ​
Total income | ​ |  | 10,520 | ​ |  | 10,271 | ​ |  | 9,776 | ​
Expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense on subordinated debt | ​ | ​ | 1,035 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other expenses | ​ |  | 200 | ​ |  | 145 | ​ |  | 214 | ​
Total expenses | ​ |  | 1,235 | ​ |  | 145 | ​ |  | 214 | ​
Income before taxes and undistributed income | ​ |  | 9,285 | ​ |  | 10,126 | ​ |  | 9,562 | ​
Income tax benefit | ​ | ​ | (255) | ​ |  | (1) | ​ |  | (27) | ​
Income before undistributed income of subsidiaries | ​ |  | 9,540 | ​ |  | 10,127 | ​ |  | 9,589 | ​
Equity in undistributed net income of subsidiaries | ​ |  | 19,814 | ​ |  | 15,609 | ​ |  | 15,331 | ​
Net income | ​ | $ | 29,354 | ​ | $ | 25,736 | ​ | $ | 24,920 | ​
Condensed Statements of Cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year Ended December 31 |  | 2020 |  | 2019 |  | 2018 |
Cash flows from operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 29,354 | ​ | $ | 25,736 | ​ | $ | 24,920 | ​
Adjustments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net losses (gains) on investment securities | ​ |  | 6 | ​ |  | (132) | ​ |  | (14) | ​
Undistributed net income of subsidiaries | ​ |  | (19,814) | ​ |  | (15,609) | ​ |  | (15,331) | ​
Decrease in other assets | ​ |  | (255) | ​ |  | (302) | ​ | ​ | (106) | ​
Increase (decrease) in other liabilities | ​ |  | 148 | ​ |  | ​ | ​ |  | (10) | ​
Stock based compensation | ​ |  | 570 | ​ |  | 554 | ​ |  | 272 | ​
Increase in due from subsidiaries | ​ | ​ | ​ | ​ |  | 1,974 | ​ | ​ | ​ | ​
Net cash provided by operating activities | ​ |  | 10,009 | ​ |  | 12,221 | ​ |  | 9,731 | ​
Cash flows from investing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Purchase of equity securities | ​ |  | ​ | ​ |  | ​ | ​ |  | (234) | ​
Sale of equity securities | ​ | ​ | 279 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash provided by (used in) investing activities | ​ |  | 279 | ​ |  | ​ | ​ |  | (234) | ​
Cash flows used in financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from subordinated debt | ​ | ​ | 33,000 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment in subsidiary | ​ | ​ | (30,000) | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retirement of stock | ​ |  | (6,893) | ​ | ​ | (634) | ​ | ​ | ​ | ​
Cash dividends paid | ​ |  | (10,518) | ​ |  | (10,131) | ​ |  | (9,693) | ​
Net cash used in financing activities | ​ |  | (14,411) | ​ |  | (10,765) | ​ |  | (9,693) | ​
Increase (decrease) in cash | ​ |  | (4,123) | ​ |  | 1,456 | ​ |  | (196) | ​
Cash at beginning of year | ​ |  | 5,192 | ​ |  | 3,736 | ​ |  | 3,932 | ​
Cash at end of year | ​ | $ | 1,069 | ​ | $ | 5,192 | ​ | $ | 3,736 | ​

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