Note 16 - Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

Condensed Balance Sheet [Table Text Block]

	December 31, 2021		December 31, 2020
ASSETS
Cash and due from banks	$	14,087	$	8,655
Investment in bank		198,660		165,285
Investment in equity securities		2,588		1,260
ESOP loan receivable		9,576		10,164
Commercial business loan receivable		5,000		—
Accrued interest receivable		300		126
Prepaid expenses and other assets		525		1,069
Total assets	$	230,736	$	186,559
LIABILITIES AND SHAREHOLDERS' EQUITY
Subordinated debt, net	$	39,280	$	—
Interest payable		375		—
Payable to subsidiary		96		72
Other liabilities		24		104
Total liabilities		39,775		176
Shareholders' equity		190,961		186,383
Total liabilities and shareholders' equity	$	230,736	$	186,559

Condensed Income Statement [Table Text Block]

	For the Year Ended December 31,
	2021			2020
Operating income:
Interest and fees on loans receivable	$	420		$	254
Interest on mortgage-backed and related securities		—			58
Interest on investment securities		—			105
Gain (loss) on sale of securities		—			250
Unrealized gain (loss) on equity securities		788			(140	)
Dividends from Bank		1,000			2,000
Total operating income		2,208			2,527
Operating expenses:
Interest paid on subordinated debt, net		1,203			—
Other expenses		1,759			875
Total operating expenses		2,962			875
(Loss) income before benefit for income taxes and equity in undistributed earnings of subsidiary		(754	)		1,652
Benefit for income taxes		(368	)		(73	)
(Loss) income before equity in undistributed earnings of subsidiary		(386	)		1,725
Equity in undistributed earnings of subsidiary		16,804			10,615
Net income	$	16,418		$	12,340

Condensed Cash Flow Statement [Table Text Block]

	For the Year Ended December 31,
	2021			2020
Cash flows from operating activities:
Net income	$	16,418		$	12,340
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed earnings of subsidiary		(16,804	)		(10,615	)
Amortization of premiums and accretion of discounts on investments, net		—			50
Amortization of debt issuance costs		57			—
Gain on sale of securities available for sale		—			(250	)
Share-based compensation		500			—
Change in payable to subsidiary		24			(105	)
Change in other assets		(421	)		(171	)
Change in other liabilities		295			81
Net cash from operating activities		69			1,330
Cash flows from investing activities:
Proceeds from maturities, calls, and principal repayments of securities available for sale		—			2,065
Proceeds from sales of securities available for sale		—			9,872
Dividend paid to subsidiary		(20,000	)		—
Loan originations, net of repayments		(5,000	)		—
ESOP loan repayment		588			576
Investment in equity securities		(584	)		(1,401	)
Net cash from investing activities		(24,996	)		11,112
Cash flows from financing activities:
Proceeds from issuance of subordinated debt, net		39,223			—
Repurchase of common stock		(6,331	)		(7,591	)
Payment of dividends		(2,533	)		(2,185	)
Net cash from financing activities		30,359			(9,776	)
Net increase in cash		5,432			2,666
Cash and cash equivalents at beginning of period		8,655			5,989
Cash and cash equivalents at end of period	$	14,087		$	8,655
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the year for income taxes	$	(987	)	$	360
Cash paid during the year for interest on borrowings	$	771		$	—