Note 22 - Parent Company-only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Condensed Balance Sheet [Table Text Block]

(In thousands)
	As of December 31,
	2020		2019
ASSETS
Cash and due from banks	$	548	$	667
Investment in subsidiary		91,836		96,235
Other assets		1,104		564
Total assets		93,488		97,466
LIABILITIES AND SHAREHOLDERS' EQUITY
Borrowings		29,819		29,707
Accrued expenses and other liabilities		450		765
Shareholders' equity		63,219		66,994
Total liabilities and shareholders' equity	$	93,488	$	97,466

Condensed Income Statement [Table Text Block]

(In thousands)
	Year ended December 31,
	2020			2019			2018
Expenses:
Interest on subordinated debt	$	347		$	476		$	454
Interest on senior debt		1,569			1,571			1,242
Total interest expense		1,916			2,047			1,696
Other expenses		159			214			313
Loss before benefit for income taxes		2,075			2,261			2,009
Benefit for income taxes		(532	)		(504	)		-
Loss before equity in undistributed net income of subsidiary		1,543			1,757			2,009
Equity in undistributed net income of subsidiary		(2,276	)		(1,060	)		5,205
Net (loss) income		(3,819	)		(2,817	)		3,196
Equity in subsidiary other comprehensive income, net of subsidiary		(115	)		423			(671	)
Total comprehensive (loss) income	$	(3,934	)	$	(2,394	)	$	2,525

Condensed Cash Flow Statement [Table Text Block]

(In thousands)
	Year ended December 31,
	2020			2019			2018
Cash Flows from Operating Activities:
Net (loss) income	$	(3,819	)	$	(2,817	)	$	3,196
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed income of subsidiary		2,276			1,060			(5,205	)
Dividends received from Patriot Bank, N.A.		2,000			-			-
Share-based compensation expense		159			214			220
Amortization of debt issuance costs		112			112			97
Change in assets and liabilities:
Increase in other assets		(540	)		(505	)		-
(Decrease) increase in accrued expenses and other liabilities		(315	)		315			61
Net cash used in operating activities		(127	)		(1,621	)		(1,631	)
Cash Flows from Investing Activities:
Net decrease (increase) in investment in Patriot Bank N.A.		8			-			(7,800	)
Net cash provided by (used in) investing activities		8			-			(7,800	)
Cash Flows from Financing Activities:
Proceeds from issuance of senior notes, net of expenses		-			-			9,709
Dividends paid on common stock		-			(155	)		(154	)
Net cash (used in) provided by financing activities		-			(155	)		9,555
Net (decrease) increase in cash and cash equivalents		(119	)		(1,776	)		124
Cash and cash equivalents at beginning of year		667			2,443			2,319
Cash and cash equivalents at end of year	$	548		$	667		$	2,443
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	1,776		$	1,593		$	1,600
Cash paid for income taxes	$	-		$	-		$	-