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Parent Company Only Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Interim Condensed Balance Sheets | Condensed Balance Sheets
| December 31
| 2022 |  | 2021
ASSETS |  |  |
Cash on deposit at the Bank | $ | 8,525 |  |  | $ | 11,535 |
Investments in subsidiaries | 158,125 |  |  | 178,395 |
Premises and equipment | 1,171 |  |  | 1,482 |
Other assets | 47,922 |  |  | 48,923 |
TOTAL ASSETS | $ | 215,743 |  |  | $ | 240,335 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
Subordinated debt, net of unamortized issuance costs | $ | 29,245 |  |  | $ | 29,158 |
Other liabilities | 288 |  |  | 129 |
Shareholders' equity | 186,210 |  |  | 211,048 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 215,743 |  |  | $ | 240,335 |
Interim Condensed Statements of Income | Condensed Statements of Income
| Year Ended December 31
| 2022 |  | 2021 |  | 2020
Income |  |  |  |  |
Dividends from subsidiaries | $ | 6,000 |  |  | $ | 3,600 |  |  | $ | 9,300 |
Interest income | 15 |  |  | 12 |  |  | 1 |
Net income on CSS joint venture | — |  |  | — |  |  | 577 |
Other income | 14 |  |  | 17 |  |  | — |
Total income | 6,029 |  |  | 3,629 |  |  | 9,878 |
Expenses |  |  |  |  |
Interest expense | 1,065 |  |  | 615 |  |  | 5 |
Occupancy and equipment | 67 |  |  | 67 |  |  | 61 |
Audit, consulting, and legal fees | 522 |  |  | 590 |  |  | 573 |
Director fees | 417 |  |  | 352 |  |  | 356 |
Other | 1,172 |  |  | 1,145 |  |  | 1,167 |
Total expenses | 3,243 |  |  | 2,769 |  |  | 2,162 |
Income before income tax benefit and equity in undistributed earnings of subsidiaries | 2,786 |  |  | 860 |  |  | 7,716 |
Federal income tax benefit | 670 |  |  | 500 |  |  | 216 |
Income before equity in undistributed earnings of subsidiaries | 3,456 |  |  | 1,360 |  |  | 7,932 |
Undistributed earnings of subsidiaries | 18,782 |  |  | 18,139 |  |  | 2,953 |
Net income | $ | 22,238 |  |  | $ | 19,499 |  |  | $ | 10,885 |
Interim Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
| Year Ended December 31
| 2022 |  | 2021 |  | 2020
Operating activities |  |  |  |  |
Net income | $ | 22,238 |  |  | $ | 19,499 |  |  | $ | 10,885 |
Adjustments to reconcile net income to cash provided by operations |  |  |  |  |
Undistributed earnings of subsidiaries | (18,782) |  |  | (18,139) |  |  | (2,953) |
Undistributed earnings of equity securities without readily determinable fair values | — |  |  | — |  |  | (394) |
Loss on sale of joint venture investment | — |  |  | — |  |  | 394 |
Share-based payment awards under the Directors Plan | 463 |  |  | 433 |  |  | 413 |
Share-based payment awards under the RSP | 147 |  |  | 86 |  |  | 14 |
Amortization of subordinated debt issuance costs | 87 |  |  | 52 |  |  | — |
Depreciation | 50 |  |  | 50 |  |  | 47 |
Deferred income tax expense (benefit) | (133) |  |  | (267) |  |  | 351 |
Changes in operating assets and liabilities which provided (used) cash |  |  |  |  |
Other assets | 1,383 |  |  | (304) |  |  | 183 |
Other liabilities | 160 |  |  | 70 |  |  | 40 |
Net cash provided by (used in) operating activities | 5,613 |  |  | 1,480 |  |  | 8,980 |
Investing activities |  |  |  |  |
Purchase of equity investments | (250) |  |  | — |  |  | — |
Sale of joint venture investment | — |  |  | — |  |  | 1,000 |
Net sales (purchases) of premises and equipment | 260 |  |  | (2) |  |  | (37) |
Net cash provided by (used in) investing activities | 10 |  |  | (2) |  |  | 963 |
Financing activities |  |  |  |  |
Issuance of subordinated debt, net of unamortized issuance costs | — |  |  | 29,106 |  |  | — |
Cash dividends paid on common stock | (8,082) |  |  | (8,367) |  |  | (8,524) |
Proceeds from the issuance of common stock | 1,762 |  |  | 1,593 |  |  | 4,185 |
Common stock repurchased | (1,124) |  |  | (13,758) |  |  | (2,702) |
Common stock purchased for deferred compensation obligations | (1,189) |  |  | (1,187) |  |  | (1,592) |
Net cash provided by (used in) financing activities | (8,633) |  |  | 7,387 |  |  | (8,633) |
Increase (decrease) in cash and cash equivalents | (3,010) |  |  | 8,865 |  |  | 1,310 |
Cash and cash equivalents at beginning of period | 11,535 |  |  | 2,670 |  |  | 1,360 |
Cash and cash equivalents at end of period | $ | 8,525 |  |  | $ | 11,535 |  |  | $ | 2,670 |

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