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Note 25 - Parent Company Condensed Financial Information | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
(25) | PARENT COMPANY CONDENSED FINANCIAL INFORMATION
Condensed financial information for the Company (parent company only) follows:
Balance Sheets |
(In thousands) |
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,861 |  |  | $ | 3,798 |
Other assets |  |  | 2,256 |  |  |  | 2,528 |
Investment in subsidiaries |  |  | 109,970 |  |  |  | 99,437 |
|  | $ | 115,087 |  |  | $ | 105,763 |
Liabilities and Equity: |  |  |  |  |  |  |  |
Accrued expenses and other liabilities |  | $ | 488 |  |  | $ | 530 |
Stockholders' equity |  |  | 114,599 |  |  |  | 105,233 |
|  | $ | 115,087 |  |  | $ | 105,763 |
Statements of Income |
(In thousands) |
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Dividend income from subsidiaries |  | $ | 3,150 |  |  | $ | 3,745 |  |  | $ | 4,475 |
Other income |  |  | 100 |  |  |  | 115 |  |  |  | 105 |
Loss on equity securities |  |  | (374 | ) |  |  | (207 | ) |  |  | (414 | )
Other operating expenses |  |  | (621 | ) |  |  | (681 | ) |  |  | (825 | )
Income before income taxes and equity in undistributed net income of shareholders |  |  | 2,255 |  |  |  | 2,972 |  |  |  | 3,341 |
Income tax benefit |  |  | 194 |  |  |  | 164 |  |  |  | 249 |
Income before equity in undistributed net income of subsidiaries |  |  | 2,449 |  |  |  | 3,136 |  |  |  | 3,590 |
Equity in undistributed net income of subsidiaries |  |  | 9,491 |  |  |  | 9,654 |  |  |  | 8,312 |
Net Income |  | $ | 11,940 |  |  | $ | 12,790 |  |  | $ | 11,902 |
Comprehensive Income (Loss) |  | $ | 12,983 |  |  | $ | 24,498 |  |  | $ | (25,573 | )
Statements of Cash Flows |
(In thousands) |
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 11,940 |  |  | $ | 12,790 |  |  | $ | 11,902 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (9,491 | ) |  |  | (9,654 | ) |  |  | (8,312 | )
Dissolution of Captive |  |  | - |  |  |  | 1,822 |  |  |  | - |
Stock compensation expense |  |  | 202 |  |  |  | 252 |  |  |  | 436 |
Unrealized loss on equity securities |  |  | 374 |  |  |  | 207 |  |  |  | 414 |
Net change in other assets and liabilities |  |  | (28 | ) |  |  | 80 |  |  |  | (53 | )
Net cash provided by operating activities |  |  | 2,997 |  |  |  | 5,497 |  |  |  | 4,387 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Investment in technology fund |  |  | (115 | ) |  |  | (250 | ) |  |  | (100 | )
Net cash used in investing activities |  |  | (115 | ) |  |  | (250 | ) |  |  | (100 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Purchase of treasury stock |  |  | (41 | ) |  |  | (502 | ) |  |  | - |
Tax paid on stock award shares for employees |  |  | (23 | ) |  |  | (23 | ) |  |  | (26 | )
Cash dividends paid |  |  | (3,755 | ) |  |  | (3,621 | ) |  |  | (3,507 | )
Net cash used in financing activities |  |  | (3,819 | ) |  |  | (4,146 | ) |  |  | (3,533 | )
Net (decrease) increase in cash |  |  | (937 | ) |  |  | 1,101 |  |  |  | 754 |
Cash at beginning of year |  |  | 3,798 |  |  |  | 2,697 |  |  |  | 1,943 |
Cash at end of year |  | $ | 2,861 |  |  | $ | 3,798 |  |  | $ | 2,697 |

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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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