Note 20 - Parent Company (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Notes Tables |
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Condensed Balance Sheet [Table Text Block] |
(Dollar amounts in thousands) | | December 31, | |
| | 2022 | | | 2021 | |
ASSETS | | | | | | | | |
Cash and due from banks | | $ | 201 | | | $ | 805 | |
Equity securities, at fair value | | | 645 | | | | 818 | |
Investment in nonbank subsidiary | | | 1 | | | | 1 | |
Investment in subsidiary bank | | | 202,887 | | | | 150,588 | |
Other assets | | | 2,984 | | | | 1,371 | |
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TOTAL ASSETS | | $ | 206,718 | | | $ | 153,583 | |
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LIABILITIES | | | | | | | | |
Trust preferred debt | | $ | 8,248 | | | $ | 8,248 | |
Other liabilities | | | 779 | | | | - | |
TOTAL LIABILITIES | | | 9,027 | | | | 8,248 | |
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STOCKHOLDERS' EQUITY | | | 197,691 | | | | 145,335 | |
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | | $ | 206,718 | | | $ | 153,583 | |
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Condensed Income Statement [Table Text Block] |
| | Year Ended December 31, | |
(Dollar amounts in thousands) | | 2022 | | | 2021 | |
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INCOME | | | | | | | | |
Dividends from subsidiary bank | | $ | 15,500 | | | $ | 18,600 | |
(Loss) gain on equity securities | | | (173 | ) | | | 209 | |
Other | | | 7 | | | | 5 | |
Total income | | | 15,334 | | | | 18,814 | |
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EXPENSES | | | | | | | | |
Interest expense | | | 288 | | | | 151 | |
Salaries and employee benefits | | | 667 | | | | 842 | |
Ohio state franchise tax | | | 1,157 | | | | 1,144 | |
Other | | | 3,434 | | | | 742 | |
Total expenses | | | 5,546 | | | | 2,879 | |
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Income before income tax benefit | | | 9,788 | | | | 15,935 | |
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Income tax benefit | | | (1,024 | ) | | | (560 | ) |
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Income before equity in undistributed net income of subsidiaries | | | 10,812 | | | | 16,495 | |
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Equity in undistributed net income of subsidiaries | | | 4,861 | | | | 2,138 | |
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NET INCOME | | $ | 15,673 | | | $ | 18,633 | |
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Comprehensive (loss) income | | $ | (9,933 | ) | | $ | 17,811 | |
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Condensed Cash Flow Statement [Table Text Block] |
| | Year Ended December 31, | |
(Dollar amounts in thousands) | | 2022 | | | 2021 | |
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OPERATING ACTIVITIES | | | | | | | | |
Net income | | $ | 15,673 | | | $ | 18,633 | |
Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | |
Equity in undistributed net income of Subsidiaries | | | (4,861 | ) | | | (2,138 | ) |
Stock-based compensation | | | 307 | | | | 398 | |
Loss (gain) on equity securities | | | 173 | | | | (209 | ) |
Other, net | | | (297 | ) | | | (664 | ) |
Net cash provided by operating activities | | | 10,995 | | | | 16,020 | |
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INVESTING ACTIVITIES | | | | | | | | |
Acquisition, net of cash paid | | | 10 | | | | - | |
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FINANCING ACTIVITIES | | | | | | | | |
Stock options exercised | | | - | | | | 94 | |
Repurchase of treasury shares | | | (6,119 | ) | | | (12,291 | ) |
Cash dividends | | | (5,490 | ) | | | (4,240 | ) |
Net cash used in financing activities | | | (11,609 | ) | | | (16,437 | ) |
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Decrease in cash | | | (604 | ) | | | (417 | ) |
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CASH AT BEGINNING OF YEAR | | | 805 | | | | 1,222 | |
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CASH AT END OF YEAR | | $ | 201 | | | $ | 805 | |
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SUPPLEMENTAL INFORMATION | | | | | | | | |
Common stock issued in business acquisition | | $ | 73,265 | | | $ | - | |
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