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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Schedule of condensed balance sheets |
Schedule of condensed balance sheets |  |  |  |  |  |  |  |
|  | December 31, |
(dollars in thousands) |  |  | 2023 |  |  |  | 2022 |
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 9,408 |  |  |  | 13,882 |
Investment in subsidiaries |  |  | 339,516 |  |  |  | 317,102 |
Other assets |  |  | 146 |  |  |  | 21 |
Total assets |  | $ | 349,070 |  |  |  | 331,005 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Accrued expenses |  | $ | 281 |  |  |  | 279 |
Subordinated debentures |  |  | 36,322 |  |  |  | 36,214 |
Shareholders’ equity |  |  | 312,467 |  |  |  | 294,512 |
Total liabilities and shareholders’ equity |  | $ | 349,070 |  |  |  | 331,005 |
Schedule of condensed statements of income |
Schedule of condensed statements of income |  |  |  |  |  |  |  |  |  |  |  |
|  | For the years ended December 31, |
(dollars in thousands) |  |  | 2023 |  |  |  | 2022 |  |  |  | 2021 |
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 15 |  |  |  | 20 |  |  |  | 17 |
Total revenue |  |  | 15 |  |  |  | 20 |  |  |  | 17 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 2,197 |  |  |  | 1,730 |  |  |  | 1,523 |
Other expenses |  |  | 249 |  |  |  | 240 |  |  |  | 285 |
Total expenses |  |  | 2,446 |  |  |  | 1,970 |  |  |  | 1,808 |
Income tax benefit |  |  | 511 |  |  |  | 409 |  |  |  | 376 |
Loss before equity in undistributed net income of subsidiaries |  |  | (1,920 | ) |  |  | (1,541 | ) |  |  | (1,415 | )
Equity in undistributed net income of subsidiaries |  |  | 15,346 |  |  |  | 30,656 |  |  |  | 48,126 |
Net income |  | $ | 13,426 |  |  |  | 29,115 |  |  |  | 46,711 |
Schedule of condensed statements of cash flows |
Schedule of condensed statements of cash flows |  |  |  |  |  |  |  |  |  |  |  |
|  | For the years ended December 31, |
(dollars in thousands) |  |  | 2023 |  |  |  | 2022 |  |  |  | 2021 |
Operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 13,426 |  |  |  | 29,115 |  |  |  | 46,711 |
Adjustments to reconcile net income to cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (15,346 | ) |  |  | (30,656 | ) |  |  | (48,126 | )
Compensation expense related to stock options and restricted stock grants |  |  | 1,943 |  |  |  | 2,026 |  |  |  | 1,647 |
(Increase) decrease in other assets |  |  | (125 | ) |  |  | - |  |  |  | 8 |
Increase in accrued expenses and subordinated debentures |  |  | 110 |  |  |  | 113 |  |  |  | 108 |
Net cash provided by operating activities |  |  | 8 |  |  |  | 598 |  |  |  | 348 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries, net |  |  | (5,000 | ) |  |  | - |  |  |  | - |
Net cash used for investing activities |  |  | (5,000 | ) |  |  | - |  |  |  | - |
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | - |  |  |  | - |  |  |  | - |
Proceeds from the exercise of stock options and warrants |  |  | 518 |  |  |  | 905 |  |  |  | 3,012 |
Net cash provided by financing activities |  |  | 518 |  |  |  | 905 |  |  |  | 3,012 |
Net increase (decrease) in cash and cash equivalents |  |  | (4,474 | ) |  |  | 1,503 |  |  |  | 3,360 |
Cash and cash equivalents, beginning of year |  |  | 13,882 |  |  |  | 12,379 |  |  |  | 9,019 |
Cash and cash equivalents, end of year |  | $ | 9,408 |  |  |  | 13,882 |  |  |  | 12,379 |

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