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Note 24 - Parent Company Only Financial Information (Tables)
12 Months Ended
Dec. 31, 2023
Notes Tables  
Condensed Balance Sheet [Table Text Block]

Condensed Balance Sheets

 

December 31,

 

Assets

 

2023

   

2022

 

Cash and due from banks

  $ 9,094     $ 7,195  

Investment in subsidiary

    305,315       274,092  

Other assets

    458       704  

Total assets

  $ 314,867     $ 281,991  

Liabilities and Stockholders' Equity

               

Subordinated notes, net

    49,527       49,461  

Other liabilities

    852       833  

Total liabilities

    50,379       50,294  

Stockholders' equity

    264,488       231,697  

Total liabilities and stockholders' equity

  $ 314,867     $ 281,991  
Condensed Income Statement [Table Text Block]

Condensed Statements of Income

 

Year Ended December 31,

 
   

2023

   

2022

   

2021

 

Interest expense on subordinated note

  $ (1,942 )   $ (1,942 )   $ (1,722 )

Dividends received from subsidiary

    8,919       9,110       9,800  

Other expenses

    (278 )     (274 )     (272 )

Income before income tax benefit and equity in undistributed net income of subsidiary

    6,699       6,894       7,806  

Income tax benefit

    458       465       419  

Equity in undistributed earnings of subsidiary

    28,896       22,290       29,187  

Net income

  $ 36,053     $ 29,649     $ 37,412  
Condensed Cash Flow Statement [Table Text Block]

Condensed Statements of Cash Flows

 

Year Ended December 31,

 
   

2023

   

2022

   

2021

 

Cash flows from operating activities:

                       

Net income

  $ 36,053     $ 29,649     $ 37,412  

Equity in undistributed net income of subsidiary

    (28,896 )     (22,290 )     (29,187 )

Amortization

    66       67       61  

ESOP compensation expense for allocated shares

                1,482  

Share-based compensation expense related to stock options and restricted stock

    2,010       1,971       1,446  

Changes in operating assets and liabilities

                       

Other assets

    246       (297 )     (205 )

Other liabilities

    18       55       569  

Net cash from operating activities

    9,497       9,155       11,578  

Cash flows used by investing activities:

                       

Net proceeds from ESOP

                291  

Investment in subsidiary

                (25,000 )

Net cash used by investing activities

                (24,709 )

Cash flows (used by) from financing activities:

                       

Net proceeds from issuance of subordinated notes

                49,333  

Repayment of subordinated notes

                (10,000 )

Stock options exercised, net

    (273 )     568       (2,076 )

Common stock repurchased for employee/director taxes paid on restricted stock awards

    (355 )     (190 )     (211 )

Issuance of common stock - employee stock purchase plan

    1,017       503        

Common stock repurchased

    (223 )     (15,628 )     (13,961 )

Dividends paid on common stock

    (7,764 )     (7,096 )     (4,602 )

Net cash (used by) from financing activities

    (7,598 )     (21,843 )     18,483  

Net increase (decrease) in cash and cash equivalents

    1,899       (12,688 )     5,352  

Cash and cash equivalents, beginning of year

    7,195       19,883       14,531  

Cash and cash equivalents, end of year

  $ 9,094     $ 7,195     $ 19,883