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Note 27 - Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2021
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | 2021 |  |  | 2020 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 7,303 |  |  | $ | 16,440 |
Investment in subsidiaries, at cost, plus undistributed net income |  |  | 122,964 |  |  |  | 87,109 |
Other assets |  |  | 6,256 |  |  |  | 740 |
Total assets |  | $ | 136,523 |  |  | $ | 104,289 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Subordinated debt |  | $ | 9,993 |  |  | $ | 9,991 |
Junior subordinated debt |  |  | 9,279 |  |  |  | 9,279 |
Other liabilities |  |  | 212 |  |  |  | 103 |
Total liabilities |  | $ | 19,484 |  |  | $ | 19,373 |
Preferred stock |  | $ | — |  |  | $ | — |
Common stock |  |  | 7,785 |  |  |  | 6,075 |
Surplus |  |  | 31,966 |  |  |  | 6,151 |
Retained earnings |  |  | 76,990 |  |  |  | 69,292 |
Accumulated other comprehensive income, net |  |  | 298 |  |  |  | 3,398 |
Total shareholders’ equity |  | $ | 117,039 |  |  | $ | 84,916 |
Total liabilities and shareholders’ equity |  | $ | 136,523 |  |  | $ | 104,289 |
Condensed Income Statement [Table Text Block] |
|  | 2021 |  |  | 2020 |
Income |  |  |  |  |  |  |  |
Dividends from subsidiary |  | $ | 6,000 |  |  | $ | 6,600 |
Total income |  | $ | 6,000 |  |  | $ | 6,600 |
Expense |  |  |  |  |  |  |  |
Interest expense |  | $ | 889 |  |  | $ | 794 |
Supplies |  |  | 56 |  |  |  | 3 |
Legal and professional fees |  |  | 107 |  |  |  | 215 |
Data processing |  |  | 29 |  |  |  | 29 |
Management fee-subsidiary |  |  | 305 |  |  |  | 294 |
Other expense |  |  | 104 |  |  |  | 80 |
Total expense |  | $ | 1,490 |  |  | $ | 1,415 |
Income before allocated tax benefits and undistributed income of subsidiary |  | $ | 4,510 |  |  | $ | 5,185 |
Allocated income tax benefit |  |  | 312 |  |  |  | 297 |
Income before equity in undistributed income of subsidiary |  | $ | 4,822 |  |  | $ | 5,482 |
Equity in undistributed income of subsidiary |  |  | 5,537 |  |  |  | 3,376 |
Net income |  | $ | 10,359 |  |  | $ | 8,858 |
Condensed Cash Flow Statement [Table Text Block] |
|  | 2021 |  |  | 2020 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |
Net income |  | $ | 10,359 |  |  | $ | 8,858 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |
Equity in undistributed income of subsidiary |  |  | (5,537 | ) |  |  | (3,376 | )
Stock-based compensation |  |  | 354 |  |  |  | 290 |
Amortization of debt issuance costs |  |  | 2 |  |  |  | 18 |
(Increase) decrease in other assets |  |  | (5,020 | ) |  |  | 3 |
Increase in other liabilities |  |  | 1 |  |  |  | 4 |
Net cash (used in) provided by operating activities |  | $ | 159 |  |  | $ | 5,797 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |
Net cash paid in acquisition of The Bank of Fincastle |  | $ | (6,752 | ) |  | $ | — |
Net cash used in investing activities |  | $ | (6,752 | ) |  | $ | — |
Cash Flows from Financing Activities |  |  |  |  |  |  |  |
Proceeds from subordinated debt, net of issuance costs |  | $ | — |  |  | $ | 4,990 |
Cash dividends paid on common stock, net of reinvestment |  |  | (2,505 | ) |  |  | (2,007 | )
Repurchase of common stock |  |  | (39 | ) |  |  | (2,118 | )
Net cash (used in) provided by financing activities |  | $ | (2,544 | ) |  | $ | 865 |
(Decrease) increase in cash and cash equivalents |  | $ | (9,137 | ) |  | $ | 6,662 |
Cash and Cash Equivalents |  |  |  |  |  |  |  |
Beginning |  |  | 16,440 |  |  |  | 9,778 |
Ending |  | $ | 7,303 |  |  | $ | 16,440 |

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