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18. PARENT ONLY CONDENSED FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule of condensed balance sheet
             
    2017     2016  
             
ASSETS                
                 
Cash and due from banks   $ 1,605     $ 259  
Investment in subsidiaries     76,040       84,234  
Other assets     264       347  
                 
    $ 77,909     $ 84,840  
                 
LIABILITIES AND SHAREHOLDERS’ EQUITY                
                 
Liabilities:                
Other liabilities   $ 988     $ 990  
                 
Total liabilities     988       990  
                 
Shareholders’ equity:                
Common stock     34,463       42,484  
Retained earnings     42,779       40,822  
Accumulated other comprehensive (loss)income, net of taxes     (321 )     544  
                 
Total shareholders’ equity     76,921       83,850  
                 
    $ 77,909     $ 84,840  
Schedule of condensed income statement
    2017     2016     2015  
                   
Income:                        
Dividends declared by subsidiaries- eliminated in consolidation   $ 11,118     $ 7,675     $ 7,900  
Management fee from subsidiaries- eliminated in consolidation other income     —       —       —  
                         
Total income     11,118       7,675       7,900  
                         
Expenses:                        
Professional fees     142       91       97  
Directors’ expense     282       285       285  
Other expenses     226       203       204  
                         
Total expenses     650       579       586  
                         
Income before equity in undistributed income of subsidiaries     10,468       7,096       7,314  
                         
Equity in distributed income of subsidiaries     (7,554 )     (930 )     (2,287 )
                         
Income before income taxes     2,914       6,166       5,027  
                         
Income tax benefit     284       238       241  
                         
Net income   $ 3,198     $ 6,404     $ 5,268  
Schedule of condensed cash flow statement
    2017     2016     2015  
                   
Cash flows from operating activities:                        
Net income   $ 3,198     $ 6,404     $ 5,268  
Adjustments to reconcile net income to net cash provided by operating activities:                        
Distributed earnings of subsidiaries     8,852       2,088       2,287  
Equity-based compensation expense     273       331       271  
Increase in other assets     (2,686 )     (1,393 )     (206 )
(Decrease) increase in other liabilities     (1 )     39       36  
                         
Net cash provided by operating activities     9,636       7,469       7,656  
                         
Cash flows from financing activities:                        
Proceeds from exercised options     351       13       —  
Cash paid to repurchase common stock     (8,641 )     (7,414 )     (7,843 )
                         
Net cash used in financing activities     (8,290 )     (7,401 )     (7,843 )
                         
Net increase (decrease) in cash and cash equivalents     1,346       68       (187 )
                         
Cash and cash equivalents at beginning of year     259       191       378  
                         
Cash and cash equivalents at end of year   $ 1,605     $ 259     $ 191  
Schedule of quarterly financial information

Selected Quarterly Information (Unaudited)

 

(In thousands, except per share and price range of common stock)
 
    March 31,     June 30,     September 30,     December 31,  
2017                        
Interest income   $ 5,053     $ 5,121     $ 5,082     $ 5,158  
Net interest income     4,811       4,869       4,803       4,870  
Provision for loan and lease losses     —       —       300       150  
Noninterest income     419       439       377       361  
Noninterest expense (1)     3,430       3,368       3,312       3,939  
Income before taxes     1,800       1,940       1,568       1,142  
Net income (loss) (2)     1,184       1,297       1,109       (392 )
                                 
Basic earnings (loss) per share   $ 0.18     $ 0.20     $ 0.18     $ (0.06 )
Diluted earnings (loss) per share     0.18       0.20       0.17       (0.06 )
Cash dividends per share     0.05       0.05       0.05       0.05  
Price range, common stock   $ 13.09-15.90     $  13.46-15.20     $  12.97-14.55     $  13.95-15.69  
                                 
2016                                
Interest income   $ 5,276     $ 5,229     $ 5,304     $ 5,344  
Net interest income     5,042       5,008       5,081       5,112  
Provision for loan and lease losses     —       —       (668 )     (676 )
Noninterest income     754       363       399       529  
Noninterest expense     3,791       3,415       3,346       3,284  
Income before taxes     2,005       1,956       2,802       3,033  
Net income     1,372       1,304       1,813       1,915  
                                 
Basic earnings per share   $ .19     $ .19     $ .28     $ .29  
Diluted earnings per share     .19       .19       .27       .29  
Cash dividends per share     —       —       —       —  
Price range, common stock   $  9.71-10.98     $  9.69-10.97     $  10.15-10.91     $  10.59-15.99  

 

  (1) The increase in noninterest expense during the fourth quarter of 2017 was related to the leadership change that occurred during the fourth quarter of 2017.

 

  (2) The net loss in the fourth quarter of 2017 results from the increased expenses related to the leadership change and tax related expenses as the Company was required to write-down a portion of its deferred tax assets to comply with “H.R.1” commonly referred to as the Tax Cuts and Jobs Act.