Note 19 - Parent Company Only (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Condensed Balance Sheet [Table Text Block]

Condensed Balance Sheets	As of December 31,
(dollars in thousands)	2022			2021
Assets:
Cash	$	634		$	515
Investment in subsidiary		162,620			211,788
Other assets		214			198
Total	$	163,468		$	212,501
Liabilities and shareholders' equity:
Liabilities	$	518		$	772
Capital stock and retained earnings		235,365			211,550
Treasury stock		(1,263	)		-
Accumulated other comprehensive income (loss)		(71,152	)		179
Total	$	163,468		$	212,501

Condensed Income Statement [Table Text Block]

Condensed Income Statements	Years ended December 31,
(dollars in thousands)	2022		2021		2020
Income:
Equity in undistributed earnings of subsidiary	$	24,128	$	19,898	$	9,934
Dividends from subsidiary		7,709		6,608		5,378
Total income		31,837		26,506		15,312
Operating expenses		2,295		3,016		2,779
Income before taxes		29,542		23,490		12,533
Credit for income taxes		479		518		502
Net income	$	30,021	$	24,008	$	13,035

Condensed Statement of Comprehensive Income [Table Text Block]

Statements of Comprehensive Income	Years ended December 31,
(dollars in thousands)	2022			2021			2020
Bancorp net loss	$	(1,816	)	$	(2,498	)	$	(2,277	)
Equity in net income of subsidiary		31,837			26,506			15,312
Net income		30,021			24,008			13,035
Equity in other comprehensive income (loss) of subsidiary		(71,331	)		(8,773	)		5,350
Other comprehensive (loss) income, net of tax		(71,331	)		(8,773	)		5,350
Total comprehensive (loss) income, net of tax	$	(41,310	)	$	15,235		$	18,385

Condensed Cash Flow Statement [Table Text Block]

Condensed Statements of Cash Flows	Years ended December 31,
(dollars in thousands)	2022			2021			2020
Cash flows from operating activities:
Net income	$	30,021		$	24,008		$	13,035
Adjustments to reconcile net income to net cash used in operations:
Equity in earnings of subsidiary		(31,837	)		(26,506	)		(15,312	)
Stock-based compensation expense		1,271			1,096			1,077
Deferred income tax		(25	)		(10	)		(84	)
Changes in other assets and liabilities, net		(232	)		390			71
Net cash used in operating activities		(802	)		(1,022	)		(1,213	)
Cash flows provided by investing activities:
Dividends received from subsidiary		7,709			6,608			5,378
Operating dividend from subsidiary		700			1,075			1,129
Net cash (used in) acquired in acquisition		-			(64	)		58
Purchases of bank premises and equipment		(11	)		-			-
Net cash provided by investing activities		8,398			7,619			6,565
Cash flows used in financing activities:
Dividends paid, net of dividend reinvestment		(7,709	)		(6,608	)		(5,378	)
Withholdings to purchase capital stock		252			270			219
Repurchase of shares to cover withholdings		(20	)		-			-
Net cash used in financing activities		(7,477	)		(6,338	)		(5,159	)
Net change in cash		119			259			193
Cash, beginning		515			256			63
Cash, ending	$	634		$	515		$	256