XML 44 R29.htm IDEA: XBRL DOCUMENT
v3.19.1

Parent Company Condensed Financial Statements | 12 Months Ended
--- | ---
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Parent Company Condensed Financial Statements | (20) Parent Company Condensed Financial Statements The following is condensed financial information of the parent company as of December 31, 2018 and 2017 and for the years ended December 31, 2018, 2017 and 2016: Condensed Balance Sheets
|  | As of December 31, |
(Dollars in thousands) |  | 2018 |  |  | 2017 |
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 100 |  |  | $ | 217 |
Investment securities |  |  | 237 |  |  |  | 245 |
Investment in subsidiaries |  |  | 112,394 |  |  |  | 107,443 |
Other |  |  | 942 |  |  |  | 1,261 |
Total assets |  | $ | 113,673 |  |  | $ | 109,166 |
Liabilities and stockholders' equity: |  |  |  |  |  |  |  |
Subordinated debentures |  | $ | 21,651 |  |  | $ | 21,484 |
Other |  |  | 121 |  |  |  | 60 |
Stockholders' equity |  |  | 91,901 |  |  |  | 87,622 |
Total liabilities and stockholders' equity |  | $ | 113,673 |  |  | $ | 109,166 |
Condensed Statements of Earnings
|  | Years ended December 31, |
(Dollars in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
Dividends from Bank |  | $ | 3,200 |  |  | $ | 3,700 |  |  | $ | 1,250 |
Interest income |  |  | 29 |  |  |  | 49 |  |  |  | 59 |
Gain on sale of investment |  |  | - |  |  |  | 493 |  |  |  | 324 |
Other non-interest income |  |  | 7 |  |  |  | 7 |  |  |  | 7 |
Interest expense |  |  | (1,078 | ) |  |  | (898 | ) |  |  | (787 | )
Other expense, net |  |  | (325 | ) |  |  | (470 | ) |  |  | (314 | )
Earnings before equity in undistributed earnings |  |  | 1,833 |  |  |  | 2,881 |  |  |  | 539 |
Increase in undistributed equity of Bank |  |  | 7,567 |  |  |  | 633 |  |  |  | 8,171 |
Increase in undistributed equity of Nonbank subsidiary |  |  | 740 |  |  |  | 542 |  |  |  | - |
Earnings before income taxes |  |  | 10,140 |  |  |  | 4,056 |  |  |  | 8,710 |
Income tax benefit |  |  | (286 | ) |  |  | (313 | ) |  |  | (251 | )
Net earnings |  |  | 10,426 |  |  |  | 4,369 |  |  |  | 8,961 |
Other comprehensive (loss) income |  |  | (3,579 | ) |  |  | 1,010 |  |  |  | (3,523 | )
Total comprehensive income |  | $ | 6,847 |  |  | $ | 5,379 |  |  | $ | 5,438 |
Condensed Statements of Cash Flows
|  | Years ended December 31, |
(Dollars in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 10,426 |  |  | $ | 4,369 |  |  | $ | 8,961 |
Increase in undistributed equity of subsidiaries |  |  | (8,307 | ) |  |  | (1,175 | ) |  |  | (8,171 | )
Amortization of purchase accounting adjustment on subordinated debentures |  |  | 167 |  |  |  | 200 |  |  |  | 200 |
Gain on sale of investment |  |  | - |  |  |  | (493 | ) |  |  | (324 | )
Other |  |  | 381 |  |  |  | (543 | ) |  |  | (112 | )
Net cash provided by operating activities |  |  | 2,667 |  |  |  | 2,358 |  |  |  | 554 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiary |  |  | - |  |  |  | (250 | ) |  |  | - |
Proceeds from sales of investments |  |  | 7 |  |  |  | 967 |  |  |  | 445 |
Net cash provided by investing activities |  |  | 7 |  |  |  | 717 |  |  |  | 445 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options |  |  | 534 |  |  |  | 228 |  |  |  | 1,796 |
Proceeds from other borrowings |  |  | - |  |  |  | 100 |  |  |  | - |
Repayments on other borrowings |  |  | - |  |  |  | (100 | ) |  |  | - |
Payment of dividends |  |  | (3,325 | ) |  |  | (3,108 | ) |  |  | (2,912 | )
Net cash used in financing activities |  |  | (2,791 | ) |  |  | (2,880 | ) |  |  | (1,116 | )
Net (decrease)increase in cash |  |  | (117 | ) |  |  | 195 |  |  |  | (117 | )
Cash at beginning of year |  |  | 217 |  |  |  | 22 |  |  |  | 139 |
Cash at end of year |  | $ | 100 |  |  | $ | 217 |  |  | $ | 22 |
Dividends paid by the Company are provided through dividends from the Bank. At December 31, 2018, the Bank could distribute dividends of up to $16.4 million without regulatory approvals. The primary source of funds for the Company is dividends from the Bank. Under the National Bank Act, a national bank may pay dividends out of its undivided profits in such amounts and at such times as the bank’s board of directors deems prudent. Without prior OCC approval, however, a national bank may not pay dividends in any calendar year that, in the aggregate, exceed the bank’s year-to-date net income plus the bank’s retained net income for the two preceding years. The payment of dividends by any financial institution is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized.

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

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration