XML 31 R21.htm IDEA: XBRL DOCUMENT v3.19.1
Parent Company Only Financial Information
 3 Months Ended
Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Parent Company Only Financial Information
Parent Company Only Financial Information
Interim Condensed Balance Sheets

March 31
2019
 
December 31
2018
ASSETS
 
 
 
Cash on deposit at the Bank
$
2,661

 
$
2,499

Investments in subsidiaries
147,110

 
143,942

Premises and equipment
1,573

 
1,912

Other assets
51,819

 
51,674

TOTAL ASSETS
$
203,163

 
$
200,027

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
Other liabilities
$
750

 
$
4,508

Shareholders' equity
202,413

 
195,519

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
203,163

 
$
200,027


Interim Condensed Statements of Income
 
Three Months Ended 
 March 31

2019
 
2018
Income
 
 
 
Dividends from subsidiaries
$
1,000

 
$
2,100

Interest income
2

 
—

Other income
(19
)
 
675

Total income
983

 
2,775

Expenses
 
 
 
Compensation and benefits
—

 
984

Occupancy and equipment
15

 
123

Audit, consulting, and legal fees
130

 
224

Director fees
98

 
103

Other
290

 
136

Total expenses
533

 
1,570

Income before income tax benefit and equity in undistributed earnings of subsidiaries
450

 
1,205

Federal income tax benefit
115

 
188

Income before equity in undistributed earnings of subsidiaries
565

 
1,393

Undistributed earnings of subsidiaries
2,931

 
2,069

Net income
$
3,496

 
$
3,462


Interim Condensed Statements of Cash Flows
 
Three Months Ended 
 March 31

2019
 
2018
Operating activities
 
 
 
Net income
$
3,496

 
$
3,462

Adjustments to reconcile net income to cash provided by operations
 
 
 
Undistributed earnings of subsidiaries
(2,931
)
 
(2,069
)
Undistributed earnings of equity securities without readily determinable fair values
57

 
63

Share-based payment awards under equity compensation plan
131

 
146

Depreciation
11

 
30

Changes in operating assets and liabilities which provided (used) cash
 
 
 
Other assets
26

 
830

Other liabilities
800

 
(97
)
Net cash provided by (used in) operating activities
1,590

 
2,365

Investing activities
 
 
 
Sales (purchases) of premises and equipment
—

 
6

Net cash provided by (used in) investing activities
—

 
6

Financing activities
 
 
 
Cash dividends paid on common stock
(2,043
)
 
(2,041
)
Proceeds from the issuance of common stock
1,433

 
1,616

Common stock repurchased
(632
)
 
(620
)
Common stock purchased for deferred compensation obligations
(186
)
 
(101
)
Net cash provided by (used in) financing activities
(1,428
)
 
(1,146
)
Increase (decrease) in cash and cash equivalents
162

 
1,225

Cash and cash equivalents at beginning of period
2,499

 
185

Cash and cash equivalents at end of period
$
2,661

 
$
1,410