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Parent Company Only Financial Information | 9 Months Ended
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Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Financial Information | Parent Company Only Financial Information Interim Condensed Balance Sheets
| September 30 2019 |  | December 31 2018
ASSETS |  |  |
Cash on deposit at the Bank | $ | 2,447 |  |  | $ | 2,499 |
Investments in subsidiaries | 156,850 |  |  | 143,942 |
Premises and equipment | 1,551 |  |  | 1,912 |
Other assets | 52,119 |  |  | 51,674 |
TOTAL ASSETS | $ | 212,967 |  |  | $ | 200,027 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
Other liabilities | $ | 591 |  |  | $ | 4,508 |
Shareholders' equity | 212,376 |  |  | 195,519 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 212,967 |  |  | $ | 200,027 |
Interim Condensed Statements of Income
| Three Months Ended September 30 |  | Nine Months Ended September 30
| 2019 |  | 2018 |  | 2019 |  | 2018
Income |  |  |  |  |  |  |
Dividends from subsidiaries | $ | 2,400 |  |  | $ | 4,900 |  |  | $ | 5,500 |  |  | $ | 10,900 |
Interest income | 1 |  |  | 1 |  |  | 5 |  |  | 1 |
Other income | 181 |  |  | 812 |  |  | 394 |  |  | 2,342 |
Total income | 2,582 |  |  | 5,713 |  |  | 5,899 |  |  | 13,243 |
Expenses |  |  |  |  |  |  |
Compensation and benefits | — |  |  | 1,068 |  |  | — |  |  | 3,227 |
Occupancy and equipment | 15 |  |  | 129 |  |  | 44 |  |  | 378 |
Audit, consulting, and legal fees | 110 |  |  | 154 |  |  | 355 |  |  | 586 |
Director fees | 90 |  |  | 106 |  |  | 277 |  |  | 313 |
Other | 254 |  |  | 142 |  |  | 872 |  |  | 450 |
Total expenses | 469 |  |  | 1,599 |  |  | 1,548 |  |  | 4,954 |
Income before income tax benefit and equity in undistributed earnings of subsidiaries | 2,113 |  |  | 4,114 |  |  | 4,351 |  |  | 8,289 |
Federal income tax benefit | 60 |  |  | 165 |  |  | 239 |  |  | 545 |
Income before equity in undistributed earnings of subsidiaries | 2,173 |  |  | 4,279 |  |  | 4,590 |  |  | 8,834 |
Undistributed earnings of subsidiaries | 2,269 |  |  | (583 | ) |  | 7,536 |  |  | 1,657 |
Net income | $ | 4,442 |  |  | $ | 3,696 |  |  | $ | 12,126 |  |  | $ | 10,491 |
Interim Condensed Statements of Cash Flows
| Nine Months Ended September 30
| 2019 |  | 2018
Operating activities |  |  |
Net income | $ | 12,126 |  |  | $ | 10,491 |
Adjustments to reconcile net income to cash provided by operations |  |  |
Undistributed earnings of subsidiaries | (7,536 | ) |  | (1,657 | )
Undistributed earnings of equity securities without readily determinable fair values | (182 | ) |  | (143 | )
Share-based payment awards under equity compensation plan | 415 |  |  | 449 |
Depreciation | 34 |  |  | 98 |
Changes in operating assets and liabilities which provided (used) cash |  |  |
Other assets | (35 | ) |  | 1,080 |
Other liabilities | 641 |  |  | (597 | )
Net cash provided by (used in) operating activities | 5,463 |  |  | 9,721 |
Investing activities |  |  |
Sales (purchases) of premises and equipment | — |  |  | (79 | )
Net cash provided by (used in) investing activities | — |  |  | (79 | )
Financing activities |  |  |
Cash dividends paid on common stock | (6,149 | ) |  | (6,126 | )
Proceeds from the issuance of common stock | 3,672 |  |  | 5,093 |
Common stock repurchased | (2,140 | ) |  | (6,212 | )
Common stock purchased for deferred compensation obligations | (898 | ) |  | (290 | )
Net cash provided by (used in) financing activities | (5,515 | ) |  | (7,535 | )
Increase (decrease) in cash and cash equivalents | (52 | ) |  | 2,107 |
Cash and cash equivalents at beginning of period | 2,499 |  |  | 185 |
Cash and cash equivalents at end of period | $ | 2,447 |  |  | $ | 2,292 |
On January 1, 2019, there was a transaction to restructure the Bank and the parent holding company for the purpose of better-organizing the entities for present and future needs. The transaction is expected to produce future benefits for us in the form of reduced operational costs and better-managed risk. Assets and liabilities transferred from the parent company to the Bank relate primarily to capital assets, net deferred income tax asset, prepaid assets, employee benefits payable, accrued expenses, and a pension plan. Effective January 1, 2019, employee compensation and benefit expenses will be recognized directly by the Bank, where expenses related to certain administrative functions were previously recognized by the parent holding company. Similarly, expenses related to most capital assets will be recognized directly by the Bank. A portion of employee compensation and benefit expenses, as well as some expenses related to capital assets, will be recognized by the holding company through a management fee paid to the Bank.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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