Condensed Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

A condensed summary of Affinity Bancshares, Inc.’s financial information is shown.

Parent Only Condensed Balance Sheets

	December 31, 2020		December 31, 2019

Assets
Cash in bank subsidiary	$	364	$	11,302
Cash in banks		—	$	258
Investment in subsidiary, at underlying equity		82,004		62,574
Loan receivable - ESOP		2,617		2,686
Other assets		857		524
Total assets	$	85,842	$	77,344

Liabilities and Stockholders' Equity

Liabilities :
Other borrowings	$	5,000	$	—
Other liabilities		57		177
Total liabilities		5,057		177

Stockholders' equity:
Total stockholders' equity		80,785		77,167
Total liabilities and stockholders' equity	$	85,842	$	77,344

Parent Only Condensed Statements of Income

	Year Ended December 31,			Year Ended December 31,
	2020			2019

Interest income:
Income on ESOP loan	$	120		$	144
Interest on bank deposits		—			4
Total interest income		120			148
Interest expense:
Interest expense on borrowings		82
Total interest expense		82			—
Net interest income		38			148
Noninterest expenses:
Other noninterest expense		565			797
Loss before income taxes		(527	)		(649	)
Income tax benefit		14			163
Loss before equity in undistributed earnings of Bank		(513	)		(486	)
Equity in undistributed earnings of Bank		3,601			841
Net income	$	3,088		$	355

Parent Only Condensed Statements of Cash Flows

	Year Ended December 31,			Year Ended December 31,
	2020			2019

Cash flows from operating activities:
Net income	$	3,088		$	355
Adjustments to reconcile net income to net cash used in operating activities
Payments from ESOP loan		209			209
Equity in undistributed earnings of Bank		(3,601	)		(841	)
Other		(256	)		(558	)
Net cash used in operating activities		(560	)		(835	)
Cash flows from investing activities:
Cash paid in business combination		(40,388	)		—
Purchase ABB preferred stock		(10,848	)
Capital injection into the Bank		(5,000	)		—
Net cash used in investing activities		(56,236	)		—
Cash flows from financing activities:
Purchase of treasury stock		—			(600	)
Proceeds from other borrowings		5,000			—
Dividend from Bank		40,600			—
Net cash provided by financing activities		45,600			(600	)
Net change in cash and cash equivalents		(11,196	)		(1,435	)
Cash and cash equivalents at beginning of period		11,560			12,995
Cash and cash equivalents at end of period	$	364		$	11,560