XML 20 R10.htm IDEA: XBRL DOCUMENT v3.21.2
Parent Company Only Financial Information
 6 Months Ended
Jun. 30, 2021
Condensed Financial Information Disclosure [Abstract]  
Interim Condensed Balance Sheets Interim Condensed Balance Sheets
June 30
2021		December 31
2020
ASSETS
Cash on deposit at the Bank$28,027 $2,670 
Investments in subsidiaries173,014 166,096 
Premises and equipment1,504 1,529 
Other assets47,800 48,352 
TOTAL ASSETS$250,345 $218,647 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debt, net of unamortized issuance costs
$29,121 $— 
Other liabilities234 59 
Shareholders' equity220,990 218,588 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$250,345 $218,647 
Interim Condensed Statements of Income Interim Condensed Statements of Income
Three Months Ended 
 June 30		Six Months Ended 
 June 30
2021202020212020
Income
Dividends from subsidiaries$700 $1,850 $2,000 $3,600 
Interest income1 — 1 1 
Other income4 126 10 127 
Total income705 1,976 2,011 3,728 
Expenses
Interest expense83 — 83 — 
Occupancy and equipment17 15 33 30 
Audit, consulting, and legal fees135 175 253 307 
Director fees86 89 171 183 
Other311 310 575 603 
Total expenses632 589 1,115 1,123 
Income before income tax benefit and equity in undistributed earnings of subsidiaries73 1,387 896 2,605 
Federal income tax benefit131 97 231 209 
Income before equity in undistributed earnings of subsidiaries204 1,484 1,127 2,814 
Undistributed earnings of subsidiaries4,417 2,703 8,892 4,437 
Net income$4,621 $4,187 $10,019 $7,251 
Interim Condensed Statements of Cash Flows Interim Condensed Statements of Cash Flows
Six Months Ended 
 June 30
20212020
Operating activities
Net income$10,019 $7,251 
Adjustments to reconcile net income to cash provided by operations
Undistributed earnings of subsidiaries(8,892)(4,437)
Undistributed earnings of equity securities without readily determinable fair values— (31)
Share-based payment awards under the Directors Plan256 233 
Share-based payment awards under the RSP25 — 
Amortization of subordinated debt issuance costs7 — 
Depreciation25 23 
Changes in operating assets and liabilities which provided (used) cash
Other assets552 (168)
Other liabilities175 16 
Net cash provided by (used in) operating activities2,167 2,887 
Investing activities
Financing activities
Issuance of subordinated debt, net of unamortized issuance costs
29,114 — 
Cash dividends paid on common stock(4,275)(4,249)
Proceeds from the issuance of common stock806 2,343 
Common stock repurchased(1,860)(1,195)
Common stock purchased for deferred compensation obligations(595)(970)
Net cash provided by (used in) financing activities23,190 (4,071)
Increase (decrease) in cash and cash equivalents25,357 (1,184)
Cash and cash equivalents at beginning of period2,670 1,360 
Cash and cash equivalents at end of period$28,027 $176