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Note 28 - Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Condensed Balance Sheet [Table Text Block]

		*2024*				*2023*
Assets
Cash		$	29,130			$	15,572
Investment in subsidiaries, at cost, plus undistributed net income			161,653				112,317
Other assets			7,586				3,193
Total assets		$	198,369			$	131,082
Liabilities and Shareholders’ Equity
Subordinated debt		$	21,175			$	4,997
Junior subordinated debt			9,279				9,279
Other liabilities			1,385				535
Total liabilities		$	31,839			$	14,811
Preferred stock		$	—			$	—
Common stock			11,218				7,829
Surplus			77,058				32,950
Retained earnings			96,947				94,198
Accumulated other comprehensive (loss), net			(18,693	)			(18,706	)
Total shareholders’ equity		$	166,530			$	116,271
Total liabilities and shareholders’ equity		$	198,369			$	131,082

Condensed Income Statement [Table Text Block]

		*2024*				*2023*
Income
Dividends from subsidiary		$	18,000			$	11,000
Other operating income			40
Total income		$	18,040			$	11,000
Expense
Interest expense		$	873			$	548
Supplies			83				2
Legal and professional fees			340				262
Data processing			107				60
Management fee-subsidiary			368				369
Other expense			122				85
Total expense		$	1,893			$	1,326
Income before allocated tax benefits and undistributed income of subsidiary		$	16,147			$	9,674
Allocated income tax benefit			389				278
Income before equity in undistributed income of subsidiary		$	16,536			$	9,952
Equity in undistributed (loss) income of subsidiary			(9,570	)			(328	)
Net income		$	6,966			$	9,624

Condensed Cash Flow Statement [Table Text Block]

		*2024*				*2023*
Cash Flows from Operating Activities
Net income		$	6,966			$	9,624
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiary			9,570				328
Stock-based compensation			635				753
Amortization of debt issuance costs			2				2
Gain on sale of investment			(40	)			—
(Increase) in other assets			(85	)			(359	)
Increase increase in other liabilities			296				2
Net cash provided by operating activities		$	17,344			$	10,350
Cash Flows from Investing Activities
Net cash paid in acquisition of Touchstone Bank		$	(10	)		$	—
Proceeds from sale of investment			368				—
Net cash provided by investing activities		$	358			$	—
Cash Flows from Financing Activities
Cash dividends paid on common stock, net of reinvestment		$	(4,038	)		$	(3,597	)
Repurchase of common stock			(106	)			(682	)
Net cash (used in) financing activities		$	(4,144	)		$	(4,279	)
Increase in cash and cash equivalents		$	13,558			$	6,071
Cash and Cash Equivalents
Beginning			15,572				9,501
Ending		$	29,130			$	15,572