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Parent Company Only Financial Information | 3 Months Ended
--- | ---
Mar. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Interim Condensed Balance Sheets | Interim Condensed Balance Sheets
| March 31 2022 |  | December 31 2021
ASSETS |  |  |
Cash on deposit at the Bank | $ | 10,094 |  |  | $ | 11,535 |
Investments in subsidiaries | 164,756 |  |  | 178,395 |
Premises and equipment | 1,469 |  |  | 1,482 |
Other assets | 49,063 |  |  | 48,923 |
TOTAL ASSETS | $ | 225,382 |  |  | $ | 240,335 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
Subordinated debt, net of unamortized issuance costs | $ | 29,181 |  |  | $ | 29,158 |
Other liabilities | 359 |  |  | 129 |
Shareholders' equity | 195,842 |  |  | 211,048 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 225,382 |  |  | $ | 240,335 |
Interim Condensed Statements of Income | Interim Condensed Statements of Income
| Three Months Ended March 31 |  |
| 2022 |  | 2021 |  |  |  |
Income |  |  |  |  |  |  |
Dividends from subsidiaries | $ | 800 |  |  | $ | 1,300 |  |  |  |  |
Interest income | 3 |  |  | — |  |  |  |  |
Other income | 4 |  |  | 6 |  |  |  |  |
Total income | 807 |  |  | 1,306 |  |  |  |  |
Expenses |  |  |  |  |  |  |
Interest expense | 266 |  |  | — |  |  |  |  |
Occupancy and equipment | 17 |  |  | 16 |  |  |  |  |
Audit, consulting, and legal fees | 120 |  |  | 118 |  |  |  |  |
Director fees | 106 |  |  | 85 |  |  |  |  |
Other | 280 |  |  | 264 |  |  |  |  |
Total expenses | 789 |  |  | 483 |  |  |  |  |
Income before income tax benefit and equity in undistributed earnings of subsidiaries | 18 |  |  | 823 |  |  |  |  |
Federal income tax benefit | 163 |  |  | 100 |  |  |  |  |
Income before equity in undistributed earnings of subsidiaries | 181 |  |  | 923 |  |  |  |  |
Undistributed earnings of subsidiaries | 4,553 |  |  | 4,475 |  |  |  |  |
Net income | $ | 4,734 |  |  | $ | 5,398 |  |  |  |  |
Interim Condensed Statements of Cash Flows | Interim Condensed Statements of Cash Flows
| Three Months Ended March 31
| 2022 |  | 2021
Operating activities |  |  |
Net income | $ | 4,734 |  |  | $ | 5,398 |
Adjustments to reconcile net income to cash provided by operations |  |  |
Undistributed earnings of subsidiaries | (4,553) |  |  | (4,475) |
Share-based payment awards under the Directors Plan | 149 |  |  | 160 |
Share-based payment awards under the RSP | 31 |  |  | 4 |
Amortization of subordinated debt issuance costs | 23 |  |  | — |
Depreciation | 13 |  |  | 13 |
Changes in operating assets and liabilities which provided (used) cash |  |  |
Other assets | (140) |  |  | 478 |
Other liabilities | 230 |  |  | 1,204 |
Net cash provided by (used in) operating activities | 487 |  |  | 2,782 |
Investing activities |  |  |
Financing activities |  |  |
Cash dividends paid on common stock | (2,031) |  |  | (2,130) |
Proceeds from the issuance of common stock | 439 |  |  | 387 |
Common stock repurchased | (185) |  |  | (1,149) |
Common stock purchased for deferred compensation obligations | (151) |  |  | (194) |
Net cash provided by (used in) financing activities | (1,928) |  |  | (3,086) |
Increase (decrease) in cash and cash equivalents | (1,441) |  |  | (304) |
Cash and cash equivalents at beginning of period | 11,535 |  |  | 2,670 |
Cash and cash equivalents at end of period | $ | 10,094 |  |  | $ | 2,366 |

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