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Parent Company Only Financial Information

3 Months Ended

Mar. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Information

Parent Company Only Financial Information

Interim Condensed Balance Sheets

			March 31 2023						December 31 2022
ASSETS
Cash on deposit at the Bank			$	10,182					$	8,525
Investments in subsidiaries			163,540						158,125
Premises and equipment			1,158						1,171
Other assets			48,058						47,922
TOTAL ASSETS			$	222,938					$	215,743
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debt, net of unamortized issuance costs			$	29,267					$	29,245
Other liabilities			338						288
Shareholders' equity			193,333						186,210
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			$	222,938					$	215,743

Interim Condensed Statements of Income

									Three Months Ended   March 31
															2023						2022
Income
Dividends from subsidiaries															$	5,000					$	800
Interest income															22						3
Other income															3						4
Total income															5,025						807
Expenses
Interest expense															266						266
Management fee															238						225
Audit, consulting, and legal fees															119						120
Director fees															111						106
Other															91						72
Total expenses															825						789
Income before income tax benefit and equity in undistributed earnings of subsidiaries															4,200						18
Federal income tax benefit															168						163
Income before equity in undistributed earnings of subsidiaries															4,368						181
Undistributed earnings of subsidiaries															953						4,553
Net income															$	5,321					$	4,734

Interim Condensed Statements of Cash Flows

			Three Months Ended   March 31
			2023						2022
Operating activities
Net income			$	5,321					$	4,734
Adjustments to reconcile net income to cash provided by operations
Undistributed earnings of subsidiaries			(953)						(4,553)
Share-based payment awards under the Directors Plan			346						149
Share-based payment awards under the RSP			42						31
Amortization of subordinated debt issuance costs			22						23
Depreciation			13						13
Changes in operating assets and liabilities which provided (used) cash
Other assets			(135)						(140)
Other liabilities			50						230
Net cash provided by (used in) operating activities			4,706						487
Investing activities
Financing activities
Cash dividends paid on common stock			(2,066)						(2,031)
Proceeds from the issuance of common stock			462						439
Common stock repurchased			(937)						(185)
Common stock purchased for deferred compensation obligations			(508)						(151)
Net cash provided by (used in) financing activities			(3,049)						(1,928)
Increase (decrease) in cash and cash equivalents			1,657						(1,441)
Cash and cash equivalents at beginning of period			8,525						11,535
Cash and cash equivalents at end of period			$	10,182					$	10,094

X

- References

No definition available.

+ Details

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X

- 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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