Note 19 - Condensed Financial Information - Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Condensed Balance Sheet [Table Text Block]

	December 31,
(in thousands)	2022		2021
Assets:
Cash	$	12,779	$	11,423
Investment in statutory trust		442		431
Investment in subsidiary (equity method)		106,837		155,342
Equity securities, at fair value		6,937		4,016
Other assets		2,409		1,800
Total assets	$	129,404	$	173,012
Liabilities and Shareholders’ Equity:
Junior subordinated debentures	$	10,310	$	10,310
Accrued interest payable		31		9
Other liabilities		114		236
Total liabilities		10,455		10,555
Shareholders’ equity		118,949		162,457
Total liabilities and shareholders’ equity	$	129,404	$	173,012

Condensed Income Statement [Table Text Block]

	For the Year Ended December 31,
(in thousands)	2022			2021
Income:
Dividends from subsidiaries	$	15,000		$	10,000
Interest and dividend income		204			168
Gain on equity securities		92			728
Trust income		11			6
Other income		-			5
Total income		15,307			10,907
Expense:
Interest on junior subordinated debt		358			191
Other operating expenses		513			351
Total expenses		871			542
Income before income taxes		14,436			10,365
(Benefit) provision for income taxes		(133	)		170
Income before equity in undistributed net income of subsidiary		14,569			10,195
Equity in undistributed net income of subsidiary		5,876			11,176
Net income	$	20,445		$	21,371

Condensed Cash Flow Statement [Table Text Block]

	For the Year Ended December 31,
(in thousands)	2022			2021
Cash flows from operating activities:
Net income	$	20,445		$	21,371
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiary		(5,876	)		(11,176	)
Equity in trust		(11	)		(6	)
Gain on equity securities		(92	)		(728	)
Increase in other assets		(25	)		(548	)
Increase in accrued interest payable		22			-
Decrease (increase) in other liabilities		(122	)		175
Net cash provided by operating activities		14,341			9,088
Cash flows from investing activities:
Sale of equity securities		359			-
Purchases of equity securities		(3,188	)		(1,195	)
Net cash used in investing activities		(2,829	)		(1,195	)
Cash flows from financing activities:
Proceeds from issuance of common shares		-			58
Repurchase of common shares		(3,636	)		(2,397	)
Cash dividends paid		(6,520	)		(5,427	)
Net cash used in financing activities		(10,156	)		(7,766	)
Net increase in cash		1,356			127
Cash at beginning of year		11,423			11,296
Cash at end of year	$	12,779		$	11,423