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Parent Company Only Financial Information

3 Months Ended

Mar. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Information

Parent Company Only Financial Information

Interim Condensed Balance Sheets

	March 31 2020				December 31 2019
ASSETS
Cash on deposit at the Bank	$	216			$	1,360
Investments in subsidiaries	163,889				157,415
Premises and equipment	1,528				1,539
Other assets	49,892				49,887
TOTAL ASSETS	$	215,525			$	210,201
LIABILITIES AND SHAREHOLDERS’ EQUITY
Other liabilities	$	27			$	19
Shareholders' equity	215,498				210,182
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	215,525			$	210,201

Interim Condensed Statements of Income

	Three Months Ended   March 31
	2020				2019
Income
Dividends from subsidiaries	$	1,750			$	1,000
Interest income	1				2
Other income (loss)	1				(19		)
Total income	1,752				983
Expenses
Occupancy and equipment	15				15
Audit, consulting, and legal fees	132				130
Director fees	94				98
Other	293				290
Total expenses	534				533
Income before income tax benefit and equity in undistributed earnings of subsidiaries	1,218				450
Federal income tax benefit	112				115
Income before equity in undistributed earnings of subsidiaries	1,330				565
Undistributed earnings of subsidiaries	1,734				2,931
Net income	$	3,064			$	3,496

Interim Condensed Statements of Cash Flows

	Three Months Ended   March 31
	2020				2019
Operating activities
Net income	$	3,064			$	3,496
Adjustments to reconcile net income to cash provided by operations
Undistributed earnings of subsidiaries	(1,734		)		(2,931		)
Undistributed earnings of equity securities without readily determinable fair values	94				57
Share-based payment awards under equity compensation plan	123				131
Depreciation	11				11
Changes in operating assets and liabilities which provided (used) cash
Other assets	(100		)		26
Other liabilities	8				800
Net cash provided by (used in) operating activities	1,466				1,590
Investing activities - none
Financing activities
Cash dividends paid on common stock	(2,122		)		(2,043		)
Proceeds from the issuance of common stock	1,330				1,433
Common stock repurchased	(1,168		)		(632		)
Common stock purchased for deferred compensation obligations	(650		)		(186		)
Net cash provided by (used in) financing activities	(2,610		)		(1,428		)
Increase (decrease) in cash and cash equivalents	(1,144		)		162
Cash and cash equivalents at beginning of period	1,360				2,499
Cash and cash equivalents at end of period	$	216			$	2,661

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- References

No definition available.

+ Details

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Namespace Prefix:	srt_
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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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