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Condensed Financial Statements of Parent Company
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Statements of Parent Company Parent Company Condensed Financial Statements
The following tables present the Parent Company-only condensed financial statements:

Condensed Balance Sheets
December 31,
($ in thousands)20212020
Assets
Cash and cash equivalents$2,431 $3,468 
Investment in bank subsidiary162,666 140,311 
Deferred tax assets22 25 
Other assets136 9 
Total assets$165,255 $143,813 
Liabilities and Shareholders' Equity
Other liabilities$33 $447 
Shareholders’ equity165,222 143,366 
Total liabilities and shareholders' equity$165,255 $143,813 
Condensed Statements of Income and Comprehensive Income
Year Ended December 31,
($ in thousands)202120202019
Income
Dividends from bank subsidiary$5,123 $13,921 $11,390 
Expense
Salaries and employee benefits226 325 785 
Occupancy and equipment65 74 110 
FDIC insurance and regulatory assessments8 1 — 
Directors’ fees135 527 — 
Other expense169 120 116 
Total expense603 1,047 1,011 
Income before income tax benefit and undistributed net income of bank subsidiary4,520 12,874 10,379 
Income tax benefit141 275 288 
Equity in undistributed net income (loss) of bank subsidiary24,178 (22)6,090 
Net income28,839 13,127 16,757 
Other comprehensive (loss) income, net of tax(2,037)652 736 
Comprehensive income$26,802 $13,779 $17,493 

Condensed Statements of Cash Flows
Year Ended December 31,
($ in thousands)202120202019
Cash flows from operating activities
Net income$28,839 $13,127 $16,757 
Adjustments:
Equity in undistributed net loss of bank subsidiary(29,301)(13,899)(17,480)
Change in other assets(124)107 6 
Change in other liabilities(414)359 88 
Net cash used in operating activities(1,000)(306)(629)
Cash flows from investing activities
Net cash from investing activities— — — 
Cash flows from financing activities
Repurchase of common stock(28)(8,104)(5,391)
Cash dividend paid on common stock(5,132)(4,262)(3,151)
Proceeds from subsidiaries5,123 13,921 11,390 
Net cash (used in) provided by financing activities(37)1,555 2,848 
Net change in cash and cash equivalents(1,037)1,249 2,219 
Cash and cash equivalents at beginning of year3,468 2,219 — 
Cash and cash equivalents at end of year$2,431 $3,468 $2,219