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Note 21 - Parent Company
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
21.
PARENT COMPANY
 
Following are condensed financial statements for the Company.
 
CONDENSED BALANCE SHEET
 
(Dollar amounts in thousands)
 
December 31,
 
   
2019
   
2018
 
ASSETS
               
Cash and due from banks
  $
2,577
    $
1,582
 
Equity securities, at fair value
   
710
     
616
 
Investment in nonbank subsidiary
   
1,400
     
2,364
 
Investment in subsidiary bank
   
141,104
     
128,366
 
Other assets
   
977
     
4,080
 
                 
TOTAL ASSETS
  $
146,768
    $
137,008
 
                 
LIABILITIES
               
Trust preferred debt
  $
8,248
    $
8,248
 
Other liabilities
   
745
     
470
 
TOTAL LIABILITIES
   
8,993
     
8,718
 
                 
STOCKHOLDERS' EQUITY
   
137,775
     
128,290
 
                 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
  $
146,768
    $
137,008
 
 
  
CONDENSED STATEMENT OF COMPREHENSIVE INCOME
 
   
Year Ended December 31,
 
(Dollar amounts in thousands)
 
2019
   
2018
 
                 
INCOME
               
Dividends from subsidiary bank
  $
4,450
    $
4,650
 
Dividends from nonbank subsidiary
   
1,000
     
-
 
Gain (loss) on equity securities
   
94
     
(9
)
Other
   
12
     
9
 
Total income
   
5,556
     
4,650
 
                 
EXPENSES
               
Interest expense
   
343
     
325
 
Other
   
2,949
     
2,119
 
Total expenses
   
3,292
     
2,444
 
                 
Income before income tax benefit
   
2,264
     
2,206
 
                 
Income tax benefit
   
(669
)    
(513
)
                 
Income before equity in undistributed net income of subsidiaries
   
2,933
     
2,719
 
                 
Equity in undistributed net income of subsidiaries
   
9,778
     
9,712
 
                 
NET INCOME
  $
12,711
    $
12,431
 
                 
Comprehensive Income
  $
14,707
    $
11,140
 
 
CONDENSED STATEMENT OF CASH FLOWS
 
   
Year Ended December 31,
 
(Dollar amounts in thousands)
 
2019
   
2018
 
                 
OPERATING ACTIVITIES
               
Net income
  $
12,711
    $
12,431
 
Adjustments to reconcile net income to net cash provided by operating activities:
               
Equity in undistributed net income of Middlefield Banking Company
   
(10,742
)    
(9,711
)
Equity in undistributed net loss of EMORECO
   
964
     
(1
)
Stock-based compensation
   
548
     
371
 
(Gain) loss on equity securities
   
(94
)    
9
 
Other, net
   
3,095
     
(382
)
Net cash provided by operating activities
   
6,482
     
2,717
 
                 
FINANCING ACTIVITIES
               
Proceeds from issuance of common stock
   
95
     
92
 
Restricted stock cash portion
   
(44
)    
-
 
Stock options exercised
   
4
     
168
 
Proceeds from dividend reinvestment plan
   
372
     
618
 
Repurchase of treasury shares
   
(2,229
)    
-
 
Cash dividends
   
(3,685
)    
(3,779
)
Net cash (used in) financing activities
   
(5,487
)    
(2,901
)
                 
Increase (decrease) in cash
   
995
     
(184
)
                 
CASH AT BEGINNING OF YEAR
   
1,582
     
1,766
 
                 
CASH AT END OF YEAR
  $
2,577
    $
1,582
 
                 
SUPPLEMENTAL INFORMATION
               
Increase in common stock through increase in other, net
  $
265
    $
183