Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Parent Company Only Condensed Financial Information [Abstract]

Condensed Statements of Condition

CONDENSED STATEMENTS OF CONDITION

	Years ended December 31:
Assets	2020		2019
Cash and cash equivalents	$	4,112	$	4,308
Investment in subsidiaries		143,424		134,910
Notes receivable – subsidiaries		1,603		1,963
Other assets		32		48
Total assets	$	149,171	$	141,229
Liabilities
Notes payable	$	3,198	$	4,233
Subordinated debentures		8,500		8,500
Other liabilities		1,149		317
Total liabilities		12,847		13,050
Shareholders’ Equity
Total shareholders’ equity		136,324		128,179
Total liabilities and shareholders’ equity	$	149,171	$	141,229

Condensed Statements of Income

CONDENSED STATEMENTS OF INCOME

	Years ended December 31:
Income:	2020		2019		2018
Interest on notes	$	41	$	47	$	53
Dividends from subsidiaries		4,125		4,375		4,225
Expenses:
Interest on notes		82		139		185
Interest on subordinated debentures		208		356		330
Operating expenses		344		377		351
Income before income taxes and equity in undistributed earnings of subsidiaries ..		3,532		3,550		3,412
Income tax benefit		121		169		164
Equity in undistributed earnings of subsidiaries		6,606		6,188		8,368
Net Income	$	10,259	$	9,907	$	11,944
Comprehensive Income	$	12,167	$	12,570	$	10,860

Condensed Statements of Cash Flow

CONDENSED STATEMENTS OF CASH FLOWS

	Years ended December 31:
Cash flows from operating activities:	2020			2019			2018
Net Income	$	10,259		$	9,907		$	11,944
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries		(6,606	)		(6,188	)		(8,368	)
Common stock issued to ESOP		----			328			295
Change in other assets		16			45			(26	)
Change in other liabilities		832			(214	)		262
Net cash provided by operating activities		4,501			3,878			4,107
Cash flows from investing activities:
Change in notes receivable		360			1,037			320
Net cash provided by investing activities		360			1,037			320
Cash flows from financing activities:
Change in notes payable		(1,035	)		(2,046	)		(1,045	)
Proceeds from common stock through dividend reinvestment		----			1,407			1,325
Cash dividends paid		(4,022	)		(4,000	)		(3,967	)
Net cash used in financing activities		(5,057	)		(4,639	)		(3,687	)
Cash and cash equivalents:
Change in cash and cash equivalents		(196	)		276			740
Cash and cash equivalents at beginning of year		4,308			4,032			3,292
Cash and cash equivalents at end of year	$	4,112		$	4,308		$	4,032