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Parent Company Only Financial Information
9 Months Ended
Sep. 30, 2023
Condensed Financial Information Disclosure [Abstract]  
Interim Condensed Balance Sheets Interim Condensed Balance Sheets
September 30
2023
December 31
2022
ASSETS
Cash on deposit at the Bank$19,984 $8,525 
Investments in subsidiaries145,777 158,125 
Premises and equipment1,169 1,171 
Other assets47,819 47,922 
TOTAL ASSETS$214,749 $215,743 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debt, net of unamortized issuance costs
$29,312 $29,245 
Other liabilities314 288 
Shareholders' equity185,123 186,210 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$214,749 $215,743 
Interim Condensed Statements of Income Interim Condensed Statements of Income
Three Months Ended 
 September 30
Nine Months Ended 
 September 30
2023202220232022
Income
Dividends from subsidiaries$8,333 $1,200 $21,666 $3,000 
Interest income56 103 
Other income10 10 
Total income8,393 1,206 21,779 3,018 
Expenses
Interest expense267 266 799 798 
Management fee238 225 714 675 
Audit, consulting, and legal fees138 135 426 411 
Director fees92 108 315 313 
Other87 67 267 240 
Total expenses822 801 2,521 2,437 
Income before income tax benefit and equity in undistributed earnings of subsidiaries7,571 405 19,258 581 
Federal income tax benefit157 167 500 507 
Income before equity in undistributed earnings of subsidiaries7,728 572 19,758 1,088 
Undistributed earnings of subsidiaries(3,315)5,315 (5,394)14,828 
Net income$4,413 $5,887 $14,364 $15,916 
Interim Condensed Statements of Cash Flows Interim Condensed Statements of Cash Flows
Nine Months Ended 
 September 30
20232022
Operating activities
Net income$14,364 $15,916 
Adjustments to reconcile net income to cash provided by operations
Undistributed earnings of subsidiaries5,394 (14,828)
Share-based payment awards under the Directors Plan477 346 
Share-based payment awards under the RSP219 108 
Amortization of subordinated debt issuance costs67 67 
Depreciation38 38 
Changes in operating assets and liabilities which provided (used) cash
Other assets103 1,461 
Other liabilities26 249 
Net cash provided by (used in) operating activities20,688 3,357 
Investing activities
Net sales (purchases) of premises and equipment(36)— 
Net cash provided by (used in) investing activities(36) 
Financing activities
Cash dividends paid on common stock(6,162)(6,011)
Proceeds from the issuance of common stock1,208 1,344 
Common stock repurchased(2,906)(585)
Common stock purchased for deferred compensation obligations(1,333)(828)
Net cash provided by (used in) financing activities(9,193)(6,080)
Increase (decrease) in cash and cash equivalents11,459 (2,723)
Cash and cash equivalents at beginning of period8,525 11,535 
Cash and cash equivalents at end of period$19,984 $8,812