XML 68 R54.htm IDEA: XBRL DOCUMENT
v3.23.1

Note 27 - Parent Company Only Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | 2022 |  |  | 2021 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 9,501 |  |  | $ | 7,303 |
Investment in subsidiaries, at cost, plus undistributed net income |  |  | 110,682 |  |  |  | 122,964 |
Other assets |  |  | 3,024 |  |  |  | 6,256 |
Total assets |  | $ | 123,207 |  |  | $ | 136,523 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Subordinated debt |  | $ | 4,995 |  |  | $ | 9,993 |
Junior subordinated debt |  |  | 9,279 |  |  |  | 9,279 |
Other liabilities |  |  | 573 |  |  |  | 212 |
Total liabilities |  | $ | 14,847 |  |  | $ | 19,484 |
Preferred stock |  | $ | — |  |  | $ | — |
Common stock |  |  | 7,831 |  |  |  | 7,785 |
Surplus |  |  | 32,716 |  |  |  | 31,966 |
Retained earnings |  |  | 90,284 |  |  |  | 76,990 |
Accumulated other comprehensive (loss) income, net |  |  | (22,471 | ) |  |  | 298 |
Total shareholders’ equity |  | $ | 108,360 |  |  | $ | 117,039 |
Total liabilities and shareholders’ equity |  | $ | 123,207 |  |  | $ | 136,523 |
Condensed Income Statement [Table Text Block] |
|  | 2022 |  |  | 2021 |
Income |  |  |  |  |  |  |  |
Dividends from subsidiary |  | $ | 6,000 |  |  | $ | 6,000 |
Total income |  | $ | 6,000 |  |  | $ | 6,000 |
Expense |  |  |  |  |  |  |  |
Interest expense |  | $ | 547 |  |  | $ | 889 |
Supplies |  |  | 5 |  |  |  | 56 |
Legal and professional fees |  |  | 209 |  |  |  | 107 |
Data processing |  |  | 47 |  |  |  | 29 |
Management fee-subsidiary |  |  | 469 |  |  |  | 305 |
Other expense |  |  | 70 |  |  |  | 104 |
Total expense |  | $ | 1,347 |  |  | $ | 1,490 |
Income before allocated tax benefits and undistributed income of subsidiary |  | $ | 4,653 |  |  | $ | 4,510 |
Allocated income tax benefit |  |  | 283 |  |  |  | 312 |
Income before equity in undistributed income of subsidiary |  | $ | 4,936 |  |  | $ | 4,822 |
Equity in undistributed income of subsidiary |  |  | 11,861 |  |  |  | 5,537 |
Net income |  | $ | 16,797 |  |  | $ | 10,359 |
Condensed Cash Flow Statement [Table Text Block] |
|  | 2022 |  |  | 2021 |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |
Net income |  | $ | 16,797 |  |  | $ | 10,359 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Equity in undistributed income of subsidiary |  |  | (11,861 | ) |  |  | (5,537 | )
Stock-based compensation |  |  | 785 |  |  |  | 354 |
Amortization of debt issuance costs |  |  | 2 |  |  |  | 2 |
Decrease (increase) in other assets |  |  | 4,969 |  |  |  | (5,020 | )
(Decrease) increase in other liabilities |  |  | (3 | ) |  |  | 1 |
Net cash provided by operating activities |  | $ | 10,689 |  |  | $ | 159 |
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 |  |  |  |  |  |  |  |
Redemption of subordinated debt, net of issuance costs |  | $ | (5,000 | ) |  | $ | — |
Cash dividends paid on common stock, net of reinvestment |  |  | (3,308 | ) |  |  | (2,505 | )
Repurchase of common stock |  |  | (183 | ) |  |  | (39 | )
Net cash (used in) financing activities |  | $ | (8,491 | ) |  | $ | (2,544 | )
Increase (decrease) in cash and cash equivalents |  | $ | 2,198 |  |  | $ | (9,137 | )
Cash and Cash Equivalents |  |  |  |  |  |  |  |
Beginning |  |  | 7,303 |  |  |  | 16,440 |
Ending |  | $ | 9,501 |  |  | $ | 7,303 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration