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Parent Company Only Financial Information
3 Months Ended
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 subsidiaries153,127 157,671 
Premises and equipment1,182 1,196 
Other assets48,175 47,949 
TOTAL ASSETS$230,386 $231,826 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Subordinated debt, net of unamortized issuance costs
$29,357 $29,335 
Other liabilities355 89 
Shareholders' equity200,674 202,402 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$230,386 $231,826 
Interim Condensed Statements of Income
Three Months Ended 
 March 31
20242023
Income
Dividends from subsidiaries$6,000 $5,000 
Interest income108 22 
Other income
Total income6,111 5,025 
Expenses
Interest expense266 266 
Management fee297 238 
Audit, consulting, and legal fees142 119 
Director fees94 111 
Other96 91 
Total expenses895 825 
Income before income tax benefit and equity in undistributed earnings of subsidiaries5,216 4,200 
Federal income tax benefit165 168 
Income before equity in undistributed earnings of subsidiaries5,381 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
20242023
Operating activities
Net income$3,131 $5,321 
Adjustments to reconcile net income to cash provided by operations
Undistributed earnings of subsidiaries2,250 (953)
Share-based payment awards under the Directors Plan218 346 
Share-based payment awards under the RSP25 42 
Amortization of subordinated debt issuance costs22 22 
Depreciation14 13 
Changes in operating assets and liabilities which provided (used) cash
Other assets(226)(135)
Other liabilities266 50 
Net cash provided by (used in) operating activities5,700 4,706 
Investing activities - none
Financing activities
Cash dividends paid on common stock(2,095)(2,066)
Proceeds from the issuance of common stock447 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 equivalents2,892 1,657 
Cash and cash equivalents at beginning of period25,010 8,525 
Cash and cash equivalents at end of period$27,902 $10,182