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Condensed Financial Information of the Parent Company Only (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information of the Parent Company Only |
Schedule of Condensed Balance Sheets |
|  | December 31,
(in thousands) |  | 2018 |  | 2017
Assets |  |  |  |  |  |
Cash and due from bank subsidiaries |  | $ | 1,334 |  | $ | 1,415
Investment in bank-issued trust preferred securities |  |  | 1,374 |  |  | 1,486
Investment in subsidiaries |  |  | 152,735 |  |  | 144,589
Deferred tax asset |  |  | 1,307 |  |  | 1,677
Other assets |  |  | 403 |  |  | 133
Total assets |  | $ | 157,153 |  | $ | 149,300
Liabilities and Stockholders' Equity |  |  |  |  |  |
Subordinated notes |  | $ | 49,486 |  | $ | 49,486
Other liabilities |  |  | 8,253 |  |  | 8,443
Stockholders' equity |  |  | 99,414 |  |  | 91,371
Total liabilities and stockholders' equity |  | $ | 157,153 |  | $ | 149,300
Schedule of Condensed Statements of Income |
|  | For the Years Ended December 31,
|  | 2018 |  | 2017 |  | 2016
Income |  |  |  |  |  |  |  |  |
Interest and dividends received from subsidiaries |  | $ | 2,653 |  | $ | 2,653 |  | $ | 46
Other |  |  | 428 |  |  | — |  |  | —
Total income |  |  | 3,081 |  |  | 2,653 |  |  | 46
Expenses |  |  |  |  |  |  |  |  |
Interest on subordinated notes |  |  | 2,229 |  |  | 1,751 |  |  | 1,494
Other |  |  | 3,461 |  |  | 2,358 |  |  | 2,039
Total expenses |  |  | 5,690 |  |  | 4,109 |  |  | 3,533
Income before income tax benefit and equity in undistributed income of subsidiaries |  |  | (195) |  |  | (1,456) |  |  | (3,487)
Income tax benefit |  |  | 1,397 |  |  | 191 |  |  | 1,337
Equity in undistributed income of subsidiaries |  |  | 9,512 |  |  | 4,679 |  |  | 9,432
Net income |  | $ | 10,714 |  | $ | 3,414 |  | $ | 7,282
Schedule of Condensed Statements of Cash Flows |
|  | For the Years Ended December 31,
(in thousands) |  | 2018 |  | 2017 |  | 2016
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 10,714 |  | $ | 3,414 |  | $ | 7,282
Adjustments to reconcile net income to net cash provided (used) by operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed income of subsidiaries |  |  | (9,512) |  |  | (4,679) |  |  | (9,432)
Stock based compensation expense |  |  | — |  |  | 3 |  |  | 17
Decrease (increase) in deferred tax asset |  |  | 370 |  |  | 881 |  |  | (442)
Other, net |  |  | (116) |  |  | 453 |  |  | 769
Net cash provided (used) by operating activities |  | $ | 1,456 |  | $ | 72 |  | $ | (1,806)
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Decrease (increase) in investment in subsidiaries, net |  | $ | 500 |  | $ | (250) |  | $ | 2,500
Net cash provided (used) by investing activities |  | $ | 500 |  | $ | (250) |  | $ | 2,500
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Cash dividends paid - common stock |  | $ | (1,993) |  | $ | (1,474) |  | $ | (1,097)
Issuance of stock under equity compensation plan |  |  | 135 |  |  | — |  |  | —
Purchase of treasury stock |  |  | (179) |  |  | (878) |  |  | (623)
Net cash used in financing activities |  | $ | (2,037) |  | $ | (2,352) |  | $ | (1,720)
Net decrease in cash and due from banks |  |  | (81) |  |  | (2,530) |  |  | (1,026)
Cash and due from banks at beginning of year |  |  | 1,415 |  |  | 3,945 |  |  | 4,971
Cash and due from banks at end of year |  | $ | 1,334 |  | $ | 1,415 |  | $ | 3,945

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