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Parent Company Condensed Financial Statements
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Parent Company Condensed Financial Statements Parent Company Condensed Financial Statements
The following tables present the Parent Company-only condensed financial statements:

Condensed Balance Sheets
December 31,
($ in thousands)20222021
Assets
Cash and cash equivalents$1,559 $2,431 
Investment in bank subsidiary175,035 162,666 
Deferred tax assets21 22 
Other assets301 136 
Total assets$176,916 $165,255 
Liabilities and shareholders' equity
Other liabilities$— $33 
Shareholders’ equity176,916 165,222 
Total liabilities and shareholders' equity$176,916 $165,255 
Condensed Statements of Income and Comprehensive Income
Year Ended December 31,
($ in thousands)202220212020
Income
Dividends from bank subsidiary$6,675 $5,123 $13,921 
Expense
Salaries and employee benefits219 226 325 
Occupancy and equipment49 65 74 
FDIC insurance and regulatory assessments— 8 1 
Directors’ fees214 135 527 
Other expense395 169 120 
Total expense877 603 1,047 
Income before income tax benefit and undistributed net income of bank subsidiary5,798 4,520 12,874 
Income tax benefit202 141 275 
Equity in undistributed net income (loss) of bank subsidiary27,310 24,178 (22)
Net income33,310 28,839 13,127 
Other comprehensive (loss) income, net of tax(16,646)(2,037)652 
Comprehensive income$16,664 $26,802 $13,779 

Condensed Statements of Cash Flows
December 31,
($ in thousands)202220212020
Cash flows from operating activities
Net income$33,310 $28,839 $13,127 
Adjustments:
Equity in undistributed net loss of bank subsidiary(33,985)(29,301)(13,899)
Change in other assets(164)(124)107 
Change in other liabilities(33)(414)359 
Net cash used in operating activities(872)(1,000)(306)
Cash flows from investing activities
Net cash from investing activities— — — 
Cash flows from financing activities
Repurchase of common stock— (28)(8,104)
Cash dividend paid on common stock(6,674)(5,132)(4,262)
Proceeds from subsidiaries6,675 5,123 13,921 
Net cash provided by (used in) financing activities1 (37)1,555 
Net change in cash and cash equivalents(871)(1,037)1,249 
Cash and cash equivalents at beginning of year2,431 3,468 2,219 
Cash and cash equivalents at end of year$1,560 $2,431 $3,468