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PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets | Condensed Balance Sheets
PARENT COMPANY FINANCIAL INFORMATION |
|  | At December 31, |
(Dollars in thousands) |  | 2020 |  |  | 2019 |
Assets: |  |  |  |  |  |  |  |
Cash on deposit |  | $ | 3,357 |  |  | $ | 2,987 |
Interest bearing deposits |  |  | — |  |  |  | — |
Securities purchased under agreement to resell |  |  | — |  |  |  | — |
Investment in bank subsidiary |  |  | 147,140 |  |  |  | 131,584 |
Other |  |  | 1,046 |  |  |  | 809 |
Total assets |  | $ | 151,543 |  |  | $ | 135,380 |
Liabilities: |  |  |  |  |  |  |  |
Junior subordinated debentures |  | $ | 14,964 |  |  | $ | 14,964 |
Other |  |  | 242 |  |  |  | 222 |
Total liabilities |  |  | 15,206 |  |  |  | 15,186 |
Shareholders’ equity |  |  | 136,337 |  |  |  | 120,194 |
Total liabilities and shareholders’ equity |  | $ | 151,543 |  |  | $ | 135,380 |
Condensed Statements of Operations | Condensed Statements of Operations
PARENT COMPANY FINANCIAL INFORMATION (Details 2) |
|  | Year ended December 31, |
(Dollars in thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Income: |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 17 |  |  | $ | 24 |  |  | $ | 23 |
Equity in undistributed earnings of subsidiary |  |  | 6,759 |  |  |  | 4,776 |  |  |  | 8,348 |
Dividend income from bank subsidiary |  |  | 4,158 |  |  |  | 7,057 |  |  |  | 3,721 |
Total income |  |  | 10,934 |  |  |  | 11,857 |  |  |  | 12,092 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 536 |  |  |  | 760 |  |  |  | 718 |
Other |  |  | 518 |  |  |  | 381 |  |  |  | 386 |
Total expense |  |  | 1,055 |  |  |  | 1,141 |  |  |  | 1,104 |
Income before taxes |  |  | 9,879 |  |  |  | 10,716 |  |  |  | 10,988 |
Income tax benefit |  |  | (219 | ) |  |  | (255 | ) |  |  | (241 | )
Net income |  | $ | 10,099 |  |  | $ | 10,971 |  |  | $ | 11,229 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
PARENT COMPANY FINANCIAL INFORMATION (Details 3) |
|  | Year ended December 31, |
(Dollars in thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 10,099 |  |  | $ | 10,971 |  |  | $ | 11,229 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of subsidiary |  |  | (6,759 | ) |  |  | (4,776 | ) |  |  | (8,348 | )
Other-net |  |  | 42 |  |  |  | 322 |  |  |  | 12 |
Net cash provided by operating activities |  |  | 3,382 |  |  |  | 6,517 |  |  |  | 2,893 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sale of federal funds |  |  | — |  |  |  | — |  |  |  | 129 |
Net cash provided by investing activities |  |  | — |  |  |  | — |  |  |  | 129 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Dividends paid: common stock |  |  | (3,573 | ) |  |  | (3,306 | ) |  |  | (3,033 | )
Repurchase of common stock |  |  | — |  |  |  | (5,636 | ) |  |  | — |
Proceeds from issuance of common stock |  |  | 4 |  |  |  | — |  |  |  | — |
Dividend Reinvestment Plan |  |  | 372 |  |  |  | 570 |  |  |  | 362 |
Issuance of restricted stock |  |  | — |  |  |  | (75 | ) |  |  | — |
Restricted shares surrendered |  |  | (15 | ) |  |  | (159 | ) |  |  | (57 | )
Deferred compensation shares |  |  | 200 |  |  |  | 265 |  |  |  | 19 |
Net cash used in financing activities |  |  | (3,012 | ) |  |  | (8,341 | ) |  |  | (2,709 | )
Increase (decrease) in cash and cash equivalents |  |  | 370 |  |  |  | (1,824 | ) |  |  | 313 |
Cash and cash equivalents at beginning of year |  |  | 2,987 |  |  |  | 4,811 |  |  |  | 4,498 |
Cash and cash equivalents at end of year |  | $ | 3,357 |  |  | $ | 2,987 |  |  | $ | 4,811 |

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