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Parent Company Only Financial Information | 3 Months Ended
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Mar. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Financial Information | Parent Company Only Financial Information Interim Condensed Balance Sheets
| March 31 2024 |  | December 31 2023
ASSETS |  |  |
Cash on deposit at the Bank | $ | 27,902 |  |  | $ | 25,010 |
Investments in subsidiaries | 153,127 |  |  | 157,671 |
Premises and equipment | 1,182 |  |  | 1,196 |
Other assets | 48,175 |  |  | 47,949 |
TOTAL ASSETS | $ | 230,386 |  |  | $ | 231,826 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |
Subordinated debt, net of unamortized issuance costs | $ | 29,357 |  |  | $ | 29,335 |
Other liabilities | 355 |  |  | 89 |
Shareholders' equity | 200,674 |  |  | 202,402 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 230,386 |  |  | $ | 231,826 |
Interim Condensed Statements of Income
|  |  | Three Months Ended March 31
|  |  |  |  | 2024 |  | 2023
Income |  |  |  |  |  |  |
Dividends from subsidiaries |  |  |  |  | $ | 6,000 |  |  | $ | 5,000 |
Interest income |  |  |  |  | 108 |  |  | 22 |
Other income |  |  |  |  | 3 |  |  | 3 |
Total income |  |  |  |  | 6,111 |  |  | 5,025 |
Expenses |  |  |  |  |  |  |
Interest expense |  |  |  |  | 266 |  |  | 266 |
Management fee |  |  |  |  | 297 |  |  | 238 |
Audit, consulting, and legal fees |  |  |  |  | 142 |  |  | 119 |
Director fees |  |  |  |  | 94 |  |  | 111 |
Other |  |  |  |  | 96 |  |  | 91 |
Total expenses |  |  |  |  | 895 |  |  | 825 |
Income before income tax benefit and equity in undistributed earnings of subsidiaries |  |  |  |  | 5,216 |  |  | 4,200 |
Federal income tax benefit |  |  |  |  | 165 |  |  | 168 |
Income before equity in undistributed earnings of subsidiaries |  |  |  |  | 5,381 |  |  | 4,368 |
Undistributed earnings of subsidiaries |  |  |  |  | (2,250) |  |  | 953 |
Net income |  |  |  |  | $ | 3,131 |  |  | $ | 5,321 |
Interim Condensed Statements of Cash Flows
| Three Months Ended March 31
| 2024 |  | 2023
Operating activities |  |  |
Net income | $ | 3,131 |  |  | $ | 5,321 |
Adjustments to reconcile net income to cash provided by operations |  |  |
Undistributed earnings of subsidiaries | 2,250 |  |  | (953) |
Share-based payment awards under the Directors Plan | 218 |  |  | 346 |
Share-based payment awards under the RSP | 25 |  |  | 42 |
Amortization of subordinated debt issuance costs | 22 |  |  | 22 |
Depreciation | 14 |  |  | 13 |
Changes in operating assets and liabilities which provided (used) cash |  |  |
Other assets | (226) |  |  | (135) |
Other liabilities | 266 |  |  | 50 |
Net cash provided by (used in) operating activities | 5,700 |  |  | 4,706 |
Investing activities - none |  |  |
Financing activities |  |  |
Cash dividends paid on common stock | (2,095) |  |  | (2,066) |
Proceeds from the issuance of common stock | 447 |  |  | 462 |
Common stock repurchased | (740) |  |  | (937) |
Common stock purchased for deferred compensation obligations | (420) |  |  | (508) |
Net cash provided by (used in) financing activities | (2,808) |  |  | (3,049) |
Increase (decrease) in cash and cash equivalents | 2,892 |  |  | 1,657 |
Cash and cash equivalents at beginning of period | 25,010 |  |  | 8,525 |
Cash and cash equivalents at end of period | $ | 27,902 |  |  | $ | 10,182 |

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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