CONDENSED PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

CONDENSED PARENT COMPANY ONLY FINANCIAL INFORMATION

Schedule of condensed balance sheets

CONDENSED BALANCE SHEETS (IN THOUSANDS):

December 31,	2024		2023
Assets
Investments in subsidiaries, at underlying equity:
Bank subsidiary	$	89,291	$	68,672
Nonbank subsidiary		—		—
Cash in bank subsidiary		257		236
Other assets		453		375
Total assets	$	90,001	$	69,283
Liabilities and Shareholders' Equity:
Other liabilities		—		—
Total liabilities	$	—	$	—
Shareholders' equity		90,001		69,283
Total liabilities and shareholders' equity	$	90,001	$	69,283

Schedule of condensed statements of operations

CONDENSED STATEMENTS OF OPERATIONS (IN THOUSANDS):

Years Ended December 31,	2024		2023		2022
Income
Distributed income of bank subsidiary	$	3,350	$	3,268	$	1,243
Undistributed income of bank subsidiary		18,773		6,404		8,061
Other income		3		4		7
Total income		22,126		9,676		9,311
Expenses
Other		423		510		370
Total expenses		423		510		370
Net income	$	21,703	$	9,166	$	8,941

Schedule of condensed statements of cash flows

CONDENSED STATEMENTS OF CASH FLOWS (IN THOUSANDS):

Years Ended December 31,	2024		2023		2022
Cash flows from operating activities:
Net income	$	21,703	$	9,166	$	8,941
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed (income) of subsidiaries		(18,773)		(6,404)		(8,061)
Change in other assets		(78)		(38)		36
Net cash provided by operating activities		2,852		2,724		916
Cash flows from investing activities:
		—		—		—
Net cash provided by investing activities		—		—		—
Cash flows from financing activities:
Stock repurchase		(792)		(208)		—
Dividends paid		(2,039)		(2,473)		(889)
Net cash used in financing activities		(2,831)		(2,681)		(889)
Net increase in cash		21		43		27
Cash, beginning of year		236		193		166
Cash, end of year	$	257	$	236	$	193