PARENT CORPORATION ONLY FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule of parent corporation only condensed balance sheets

		2024		2023
ASSETS
Due from banks	$	3,348	$	427
Investment in subsidiaries		81,923		80,112
Other assets		746		787
Total assets	$	86,017	$	81,326
LIABILITIES
Accrued interest payable	$	277	$	322
Accrued expenses and other liabilities		13		7
Trust preferred securities		14,986		16,186
Total liabilities		15,276		16,515
SHAREHOLDERS’ EQUITY
Common stock - $2.00 par value, 50,000,000 shares authorized; 23,636,724 and 23,745,900 shares issued and outstanding at December 31, 2024 and 2023, respectively		47,273		47,492
Additional paid capital		14,451		14,514
Retained earnings		21,001		14,458
Accumulated other comprehensive loss		(11,984)		(11,653)
Total shareholders’ equity		70,741		64,811
Total liabilities and shareholders’ equity	$	86,017	$	81,326

Schedule of parent corporation only condensed statements of income

		2024		2023
Income
Miscellaneous income	$	37	$	38
Dividends from subsidiaries		7,144		2,600
Undistributed income of subsidiaries		2,142		5,677
Total income		9,323		8,315
Expenses
Trust preferred securities interest expense		1,248		1,274
Professional fees		116		106
Other operating expenses		42		42
Total expenses		1,406		1,422
Income before income taxes		7,917		6,893
Income tax benefit		(287)		(291)
Net income	$	8,204	$	7,184

Schedule of parent corporation only condensed statements of cash flows

		2024		2023
Cash flows from operating activities
Net income	$	8,204	$	7,184
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(2,142)		(5,677)
Net decrease in other assets		41		364
Net (decrease) increase in accrued interest payable and other liabilities		(39)		13
Net cash provided by operating activities		6,064		1,884
Cash flows from financing activities:
Repayment of long-term debt		(1,200)		(310)
Repurchase of common stock		(282)		(237)
Cash dividends paid		(1,661)		(1,431)
Net cash used in financing activities		(3,143)		(1,978)
Net increase (decrease) in cash and cash equivalents		2,921		(94)
Cash and cash equivalents, beginning of year		427		521
Cash and cash equivalents, end of year	$	3,348	$	427