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Parent Company Only Financial Information

9 Months Ended

Sep. 30, 2022

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Information

Parent Company Only Financial Information

Interim Condensed Balance Sheets

			September 30 2022						December 31 2021
ASSETS
Cash on deposit at the Bank			$	8,812					$	11,535
Investments in subsidiaries			148,497						178,395
Premises and equipment			1,444						1,482
Other assets			47,462						48,923
TOTAL ASSETS			$	206,215					$	240,335
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debt, net of unamortized issuance costs			$	29,225					$	29,158
Other liabilities			378						129
Shareholders' equity			176,612						211,048
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			$	206,215					$	240,335

Interim Condensed Statements of Income

			Three Months Ended   September 30												Nine Months Ended   September 30
			2022						2021						2022						2021
Income
Dividends from subsidiaries			$	1,200					$	800					$	3,000					$	2,800
Interest income			3						7						8						8
Other income			3						4						10						14
Total income			1,206						811						3,018						2,822
Expenses
Interest expense			266						266						798						349
Occupancy and equipment			17						16						50						49
Audit, consulting, and legal fees			135						187						411						440
Director fees			108						87						313						258
Other			275						277						865						852
Total expenses			801						833						2,437						1,948
Income before income tax benefit and equity in undistributed earnings of subsidiaries			405						(22)						581						874
Federal income tax benefit			167						172						507						403
Income before equity in undistributed earnings of subsidiaries			572						150						1,088						1,277
Undistributed earnings of subsidiaries			5,315						4,536						14,828						13,428
Net income			$	5,887					$	4,686					$	15,916					$	14,705

Interim Condensed Statements of Cash Flows

			Nine Months Ended   September 30
			2022						2021
Operating activities
Net income			$	15,916					$	14,705
Adjustments to reconcile net income to cash provided by operations
Undistributed earnings of subsidiaries			(14,828)						(13,428)
Share-based payment awards under the Directors Plan			346						343
Share-based payment awards under the RSP			108						58
Amortization of subordinated debt issuance costs			67						30
Depreciation			38						38
Changes in operating assets and liabilities which provided (used) cash
Other assets			1,461						673
Other liabilities			249						390
Net cash provided by (used in) operating activities			3,357						2,809
Investing activities
Financing activities
Issuance of subordinated debt, net of unamortized issuance costs			—						29,106
Cash dividends paid on common stock			(6,011)						(6,369)
Proceeds from the issuance of common stock			1,344						1,196
Common stock repurchased			(585)						(2,699)
Common stock purchased for deferred compensation obligations			(828)						(869)
Net cash provided by (used in) financing activities			(6,080)						20,365
Increase (decrease) in cash and cash equivalents			(2,723)						23,174
Cash and cash equivalents at beginning of period			11,535						2,670
Cash and cash equivalents at end of period			$	8,812					$	25,844

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- References

No definition available.

+ Details

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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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
-URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

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