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Note 20 - Parent Company | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
20. | PARENT COMPANY
Following are condensed financial statements of the Parent Company.
CONDENSED BALANCE SHEET |
(Dollar amounts in thousands) |
|  | December 31, |
|  | 2024 |  |  | 2023 |
ASSETS |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 4,036 |  |  | $ | 4,065 |
Other investments |  |  | 503 |  |  |  | 544 |
Investment in nonbank subsidiary |  |  | 1 |  |  |  | 1 |
Investment in bank subsidiary |  |  | 213,720 |  |  |  | 208,098 |
Other assets |  |  | 1,168 |  |  |  | 2,125 |
TOTAL ASSETS |  | $ | 219,428 |  |  | $ | 214,833 |
LIABILITIES |  |  |  |  |  |  |  |
Other borrowings |  | $ | 8,248 |  |  | $ | 8,248 |
Other liabilities |  |  | 618 |  |  |  | 904 |
TOTAL LIABILITIES |  |  | 8,866 |  |  |  | 9,152 |
STOCKHOLDERS' EQUITY |  |  | 210,562 |  |  |  | 205,681 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |  | $ | 219,428 |  |  | $ | 214,833 |
CONDENSED STATEMENT OF OPERATIONS
(Dollar amounts in thousands)
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
INCOME |  |  |  |  |  |  |  |
Dividends from bank subsidiary |  | $ | 9,500 |  |  | $ | 17,000 |
Loss on equity securities |  |  | (40 | ) |  |  | (100 | )
Other income |  |  | 2 |  |  |  | 3 |
Total income |  |  | 9,462 |  |  |  | 16,903 |
EXPENSES |  |  |  |  |  |  |  |
Interest expense |  |  | 597 |  |  |  | 605 |
Salaries and employee benefits |  |  | 1,074 |  |  |  | 751 |
Ohio state franchise tax |  |  | 1,583 |  |  |  | 1,578 |
Other expense |  |  | 1,246 |  |  |  | 1,032 |
Total expenses |  |  | 4,500 |  |  |  | 3,966 |
Income before income taxes |  |  | 4,962 |  |  |  | 12,937 |
Income taxes |  |  | (953 | ) |  |  | (854 | )
Income before equity in undistributed net income of subsidiaries |  |  | 5,915 |  |  |  | 13,791 |
Equity in undistributed net income of subsidiaries |  |  | 9,604 |  |  |  | 3,578 |
NET INCOME |  | $ | 15,519 |  |  | $ | 17,368 |
COMPREHENSIVE INCOME |  | $ | 11,536 |  |  | $ | 23,422 |
CONDENSED STATEMENT OF CASH FLOWS
(Dollar amounts in thousands)
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
OPERATING ACTIVITIES |  |  |  |  |  |  |  |
Net income |  | $ | 15,519 |  |  | $ | 17,368 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (9,604 | ) |  |  | (3,578 | )
Stock-based compensation, net |  |  | 374 |  |  |  | 260 |
Loss on equity securities |  |  | 41 |  |  |  | 100 |
Other, net |  |  | 1,153 |  |  |  | 1,084 |
Net cash provided by operating activities |  |  | 7,483 |  |  |  | 15,234 |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |
Repurchase of common shares |  |  | (1,055 | ) |  |  | (4,506 | )
Cash dividends |  |  | (6,457 | ) |  |  | (6,864 | )
Net cash used in financing activities |  |  | (7,512 | ) |  |  | (11,370 | )
Increase (decrease) in cash |  |  | (29 | ) |  |  | 3,864 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR |  |  | 4,065 |  |  |  | 201 |
CASH AND CASH EQUIVALENTS AT END OF YEAR |  | $ | 4,036 |  |  | $ | 4,065 |

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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/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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