2019 Q4 Form 10-K Financial Statement

#000119312521098128 Filed on March 29, 2021

View on sec.gov

Income Statement

Concept 2019 Q4 2019 2018 Q4
Revenue $29.82M
YoY Change 10.55%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $690.0K $1.666M $250.0K
YoY Change 176.0% 79.14% 19.05%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $5.264M
YoY Change 38.71%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.830M $6.934M $1.860M
YoY Change -1.61% 4.57% 14.11%
Income Tax $310.0K $1.329M $380.0K
% Of Pretax Income 16.94% 19.17% 20.43%
Net Earnings $1.520M $5.605M $1.480M
YoY Change 2.7% 5.71% 311.11%
Net Earnings / Revenue 18.8%
Basic Earnings Per Share $1.28
Diluted Earnings Per Share $316.0K $1.28 $307.1K
COMMON SHARES
Basic Shares Outstanding 4.376M 4.378M
Diluted Shares Outstanding 4.382M

Balance Sheet

Concept 2019 Q4 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $39.11M $50.33M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $16.70M $22.50M $13.43M
YoY Change 24.37% 67.91% 11.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.200M $1.200M $1.800M
YoY Change -33.33% -33.33% 28.57%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $725.4M $725.4M $674.9M
YoY Change 7.48% 7.48% 7.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $200.0K $100.0K
YoY Change 100.0% 100.0% 0.0%
Accrued Expenses $1.500M $1.500M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.800M $1.800M $100.0K
YoY Change 1700.0% 1700.0% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $9.400M $9.400M $5.000M
YoY Change 88.0% 88.0% 0.0%
Other Long-Term Liabilities $3.200M $3.200M $2.600M
YoY Change 23.08% 23.08% 23.81%
Total Long-Term Liabilities $12.60M $12.60M $7.600M
YoY Change 65.79% 65.79% 7.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.800M $1.800M $100.0K
Total Long-Term Liabilities $12.60M $12.60M $7.600M
Total Liabilities $663.9M $663.9M $619.8M
YoY Change 7.13% 7.12% 7.84%
SHAREHOLDERS EQUITY
Retained Earnings $20.90M $16.52M
YoY Change 26.51% 34.66%
Common Stock $40.55M $40.87M
YoY Change -0.77% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $61.45M $61.40M $55.14M
YoY Change
Total Liabilities & Shareholders Equity $725.4M $725.4M $674.9M
YoY Change 7.48% 7.48% 7.75%

Cashflow Statement

Concept 2019 Q4 2019 2018 Q4
OPERATING ACTIVITIES
Net Income $1.520M $5.605M $1.480M
YoY Change 2.7% 5.71% 311.11%
Depreciation, Depletion And Amortization $690.0K $1.666M $250.0K
YoY Change 176.0% 79.14% 19.05%
Cash From Operating Activities $2.630M $5.592M $2.680M
YoY Change -1.87% -34.77% 644.44%
INVESTING ACTIVITIES
Capital Expenditures -$510.0K $4.398M -$1.600M
YoY Change -68.12% 91.13% 357.14%
Acquisitions
YoY Change
Other Investing Activities -$28.07M -$48.13M -$5.570M
YoY Change 403.95% 31.97% -7.78%
Cash From Investing Activities -$28.58M -$52.53M -$7.160M
YoY Change 299.16% 35.49% 12.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $315.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.60M 35.72M 4.330M
YoY Change 260.28% -17.89% -35.47%
NET CHANGE
Cash From Operating Activities 2.630M 5.592M 2.680M
Cash From Investing Activities -28.58M -52.53M -7.160M
Cash From Financing Activities 15.60M 35.72M 4.330M
Net Change In Cash -10.35M -11.21M -150.0K
YoY Change 6800.0% -184.27% -122.06%
FREE CASH FLOW
Cash From Operating Activities $2.630M $5.592M $2.680M
Capital Expenditures -$510.0K $4.398M -$1.600M
Free Cash Flow $3.140M $1.194M $4.280M
YoY Change -26.64% -80.96% 502.82%

Facts In Submission

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CY2020 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-weight:bold;">Note 24 - Impact of recently issued accounting standards</font> </p> <p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, &#x201C;Financial Instruments &#x2013; Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.&#x201D;&nbsp;&nbsp;The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASU&#x2019;s 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03.&nbsp;&nbsp;These ASU&#x2019;s have provided for various minor technical corrections and improvements to the codification as well as other transition matters.&nbsp;&nbsp;Smaller reporting companies who file with the U.S. Securities and Exchange Commission (SEC) and all other entities who do not file with the SEC are required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022.&nbsp; </font><font style="display: inline;font-size:12pt;">The Company is currently assessing the impact that ASU 2016-13 will have on its consolidated financial statements.&nbsp;&nbsp;The Company has been in discussions with its core processor to coordinate plans for implementation and has contracted with an additional vendor to begin implementation.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">Effective November 25, 2019, the SEC adopted Staff Accounting Bulletin (SAB) 119.&nbsp;&nbsp;SAB 119 updated portions of SEC interpretative guidance to align with FASB ASC 326, &#x201C;Financial Instruments &#x2013; Credit Losses.&#x201D;&nbsp;&nbsp;It covers topics including (1) measuring current expected credit losses; (2) development, governance, and documentation of a systematic methodology; (3) documenting the results of a systematic methodology; and (4) validating a systematic methodology.</font> </p> <p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-weight:bold;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-weight:bold;">Note 24 - Impact of recently issued accounting standards (continued)</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">In December 2019, the FASB issued ASU 2019-12, &#x201C;Income Taxes (Topic 740) &#x2013; Simplifying the Accounting for Income Taxes.&#x201D;&nbsp;&nbsp;The ASU is expected to reduce cost and complexity related to the accounting for income taxes by removing specific exceptions to general principles in Topic 740 (eliminating the need for an organization to analyze whether certain exceptions apply in a given period) and improving financial statement preparers&#x2019; application of certain income tax-related guidance. This ASU is part of the FASB&#x2019;s simplification initiative to make narrow-scope simplifications and improvements to accounting standards through a series of short-term projects.&nbsp;&nbsp;For public business entities, the amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years.&nbsp;&nbsp;Early adoption is permitted. The Company is currently assessing the impact that ASU 2019-12 will have on its consolidated financial statements.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">&#xFEFF;</font> </p> <p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">On March 12, 2020, the SEC finalized amendments to its &#x201C;accelerated filer&#x201D; and &#x201C;large accelerated filer&#x201D; definitions. The amendments increase the threshold criteria for meeting these filer classifications and were effective on April 27, 2020. Any changes in filer status are to be applied beginning with the filer&#x2019;s first annual report filed with the SEC subsequent to the effective date.&nbsp;&nbsp;The rule change revises the definition of &#x201C;accelerated filers&#x201D; to exclude entities with public float of less than $700 million and less than $100 million in annual revenues.&nbsp; The Company expects to continue to meet this expanded category of small reporting company and will remain a non-accelerated filer.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">&#xFEFF;</font><a name="_Hlk62203465"></a> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">In October 2020, the FASB issued ASU 2020-08, &#x201C;Codification Improvements to Subtopic 310-20, Receivables &#x2013; Nonrefundable fees and Other Costs.&#x201D; This ASU clarifies that an entity should reevaluate whether a callable debt security is within the scope of ASC paragraph 310-20-35-33 for each reporting period. </font><font style="display: inline;font-size:12pt;">For public business entities, the ASU is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years.&nbsp;&nbsp;Early adoption is not permitted. All entities should apply ASU No. 2020-08 on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities. </font><font style="display: inline;font-size:12pt;">The Company does not expect the adoption of ASU 2020-06 to have a material impact on its consolidated financial statements.</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">In March 2020 (Revised in April 2020), various regulatory agencies, including the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, (&#x201C;the agencies&#x201D;) issued an interagency statement on loan modifications and reporting for financial institutions working with customers affected by the Coronavirus. The interagency statement was effective immediately and impacted accounting for loan modifications. Under Accounting Standards Codification 310-40, &#x201C;Receivables &#x2013; Troubled Debt Restructurings by Creditors,&#x201D; (&#x201C;ASC 310-40&#x201D;), a restructuring of debt constitutes a troubled debt restructuring (&#x201C;TDR&#x201D;) if the creditor, for economic or legal reasons related to the debtor&#x2019;s financial difficulties, grants a concession to the debtor that it would not otherwise consider. The agencies confirmed with the staff of the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not to be considered TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. Borrowers </font><br /><font style="display: inline;font-size:12pt;"></font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> </p> <p><font size="1"> </font></p> <p style="margin:0pt;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-size:12pt;"></font> </p> <p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-weight:bold;">Note 24 - Impact of recently issued accounting standards (continued)</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> <font style="display: inline;font-size:12pt;">considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented.&nbsp;&nbsp;&nbsp;In August 2020, a joint statement on additional loan modifications was issued.&nbsp;&nbsp;Among other things, the Interagency Statement addresses accounting and regulatory reporting considerations for loan modifications, including those accounted for under Section 4013 of the Coronavirus Aid, Relief, and Economic Security (&#x201C;CARES&#x201D;) Act.&nbsp;&nbsp;The CARES Act was signed into law on March 27, 2020 to help support individuals and businesses through loans, grants, tax changes and other types of relief.&nbsp;&nbsp;The most significant impacts of the Act related to accounting for loan modifications and establishment of the Paycheck Protection Program (&#x201C;PPP&#x201D;).&nbsp;&nbsp;On December 21, 2020, the Consolidated Appropriates Act of 2021 (&#x201C;CAA&#x201D;) was passed.&nbsp;&nbsp;The CAA extends or modifies many of the relief programs first created by the CARES Act, including the PPP and treatment of certain loan modifications related to the COVID-19 pandemic.&nbsp;&nbsp;&nbsp;&nbsp;Note 26 in the financial statements discusses COVID-19 and Current Economic Conditions. </font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 12pt"> </p> <p><font size="1"> </font></p> <p style="margin:0pt;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-size:12pt;"></font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p><font size="1"> </font></p> </div> </div>
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IncomeTaxReconciliationNondeductibleExpense
13000
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
12000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
3000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-17000
CY2019 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
124000
CY2020 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
484000
CY2019 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
37416000
CY2020 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
115508000
CY2019 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
46000
CY2020 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-88000
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-421000
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
474000
CY2019 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
286000
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
566000
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5783
CY2019 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
29816000
CY2020 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
29686000
CY2019 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
94000
CY2020 us-gaap Interest And Dividend Income Securities Other
InterestAndDividendIncomeSecuritiesOther
117000
CY2019 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
27559000
CY2020 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
28021000
CY2019Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
274602000
CY2020Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
362780000
CY2019 us-gaap Interest Expense
InterestExpense
5264000
CY2020 us-gaap Interest Expense
InterestExpense
4540000
CY2019 us-gaap Interest Expense Medium Term Notes
InterestExpenseMediumTermNotes
200000
CY2020 us-gaap Interest Expense Medium Term Notes
InterestExpenseMediumTermNotes
273000
CY2019 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
1537000
CY2020 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
804000
CY2019 us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
3456000
CY2020 us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
3348000
CY2019 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
326000
CY2020 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
89000
CY2019 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
24029000
CY2020 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
22598000
CY2019 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
24552000
CY2020 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
25146000
CY2019 us-gaap Interest Income Federal Funds Sold
InterestIncomeFederalFundsSold
454000
CY2020 us-gaap Interest Income Federal Funds Sold
InterestIncomeFederalFundsSold
102000
CY2019 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
220000
CY2020 us-gaap Interest Income Securities Mortgage Backed
InterestIncomeSecuritiesMortgageBacked
217000
CY2019 us-gaap Interest Income Securities Other Us Government
InterestIncomeSecuritiesOtherUSGovernment
755000
CY2020 us-gaap Interest Income Securities Other Us Government
InterestIncomeSecuritiesOtherUSGovernment
690000
CY2019 us-gaap Interest Income Securities State And Municipal
InterestIncomeSecuritiesStateAndMunicipal
312000
CY2020 us-gaap Interest Income Securities State And Municipal
InterestIncomeSecuritiesStateAndMunicipal
361000
CY2019 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
3000
CY2020 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
11000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
5218000
CY2019Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
173000
CY2020Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
85000
CY2019Q4 us-gaap Interest Receivable
InterestReceivable
1866000
CY2020Q4 us-gaap Interest Receivable
InterestReceivable
2350000
CY2019 us-gaap Labor And Related Expense
LaborAndRelatedExpense
13092000
CY2020 us-gaap Labor And Related Expense
LaborAndRelatedExpense
15430000
CY2019Q4 us-gaap Land
Land
3302000
CY2020Q4 us-gaap Land
Land
3302000
CY2019 us-gaap Lease Cost
LeaseCost
678000
CY2020 us-gaap Lease Cost
LeaseCost
726000
CY2019Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
93936000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
110000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
110000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
403000
CY2019Q4 us-gaap Liabilities
Liabilities
663949000
CY2020Q4 us-gaap Liabilities
Liabilities
784654000
CY2019Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
3462000
CY2020Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
3003000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1793000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1242000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
111000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
110000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
110000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
725394000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
851386000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
4829000
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7156000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
578103000
CY2020Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
609090000
CY2019Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
573274000
CY2020Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
601934000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
4980000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
5605000
CY2019Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
12682000
CY2020Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
12075000
CY2020 us-gaap Loans And Leases Receivable Related Parties Additions
LoansAndLeasesReceivableRelatedPartiesAdditions
3326000
CY2020 us-gaap Loans And Leases Receivable Related Parties Proceeds
LoansAndLeasesReceivableRelatedPartiesProceeds
4221000
CY2019Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
4221000
CY2020Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
7102000
CY2019 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
394000
CY2020 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
644000
CY2019 us-gaap Marketing Expense
MarketingExpense
866000
CY2020 us-gaap Marketing Expense
MarketingExpense
667000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-52525000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-62053000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5592000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5199000
CY2020Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
143345000
CY2019 us-gaap Noninterest Expense
NoninterestExpense
24283000
CY2020 us-gaap Noninterest Expense
NoninterestExpense
27394000
CY2019 us-gaap Noninterest Income
NoninterestIncome
7188000
CY2020 us-gaap Noninterest Income
NoninterestIncome
10975000
CY2019 us-gaap Noninterest Income Other
NoninterestIncomeOther
76000
CY2020 us-gaap Noninterest Income Other
NoninterestIncomeOther
50000
CY2019Q4 us-gaap Notes Payable
NotesPayable
5000000
CY2020Q4 us-gaap Notes Payable
NotesPayable
10027000
CY2020Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
95000000
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
578103000
CY2020Q4 us-gaap Notes Receivable Net
NotesReceivableNet
609090000
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019 us-gaap Occupancy Net
OccupancyNet
1655000
CY2020 us-gaap Occupancy Net
OccupancyNet
1638000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
365000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
197000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1524000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1390000
CY2019Q4 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
us-gaap:OtherLiabilities
CY2020Q4 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
us-gaap:OtherLiabilities
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
348000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
183000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1508000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1360000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssets
CY2020Q4 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssets
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0339
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0344
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y10M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y8M12D
CY2019Q4 us-gaap Other Assets
OtherAssets
9350000
CY2020Q4 us-gaap Other Assets
OtherAssets
9265000
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2238000
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1797000
CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
394000
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
644000
CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
83000
CY2020 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
135000
CY2019 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
3227000
CY2020 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
2918000
CY2019 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
678000
CY2019 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
44000
CY2020 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
612000
CY2019 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
1126000
CY2020 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
1467000
CY2019Q4 us-gaap Other Liabilities
OtherLiabilities
9317000
CY2020Q4 us-gaap Other Liabilities
OtherLiabilities
9575000
CY2019 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1289000
CY2020 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1248000
CY2018Q4 us-gaap Other Real Estate
OtherRealEstate
2430000
CY2019Q4 us-gaap Other Real Estate
OtherRealEstate
2339000
CY2020Q4 us-gaap Other Real Estate
OtherRealEstate
1105000
CY2019 us-gaap Other Real Estate Additions
OtherRealEstateAdditions
785000
CY2020 us-gaap Other Real Estate Additions
OtherRealEstateAdditions
18000
CY2019 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
163394000
CY2020 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
298154000
CY2020 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
45000
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
315000
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
275000
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1226000
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1215000
CY2019 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
16991000
CY2020 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
51150000
CY2020 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
2280000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4398000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1751000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
570000
CY2020 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
844000
CY2019 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3171000
CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
9837000
CY2020 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
10025000
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
9733000
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
13313000
CY2019 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
570000
CY2020 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
844000
CY2019 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
165097000
CY2020 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
303085000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-weight:bold;">Reclassifications</font> </p> <p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;">Management has made certain immaterial reclassifications to the prior year financial statements to conform to the 2020 presentation.&nbsp;&nbsp;Reclassifications had no effect on prior year net income or stockholders&#x2019; equity.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2020 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
38515000
CY2020 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
405000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29971000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27979000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16698000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16982000
CY2019 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
523000
CY2020 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
2548000
CY2019Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
2339000
CY2020Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
1105000
CY2019 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
785000
CY2020 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
18000
CY2019Q4 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
16694000
CY2020Q4 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
11534000
CY2020 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000
CY2019Q4 us-gaap Restricted Investments
RestrictedInvestments
1506000
CY2020Q4 us-gaap Restricted Investments
RestrictedInvestments
1551000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
20900000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
24665000
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1785000
CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
2033000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6373000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
106000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
106000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
55143000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
61445000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
66732000
CY2019 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
0
CY2020 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
0
CY2019 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
315000
CY2020 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
275000
CY2019 us-gaap Supplies Expense
SuppliesExpense
597000
CY2020 us-gaap Supplies Expense
SuppliesExpense
479000
CY2019Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
66261000
CY2020Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
70688000
CY2019Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
29016000
CY2020Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
34142000
CY2019Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.0400
CY2020Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.0400
CY2019Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
36270000
CY2020Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
42678000
CY2019Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.0500
CY2020Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.0500
CY2019Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.0913
CY2020Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.0828
CY2019Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
66261000
CY2020Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
70688000
CY2019Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
52383000
CY2020Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
54013000
CY2019Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0850
CY2020Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0850
CY2019Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
49302000
CY2020Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
50836000
CY2019Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.0800
CY2020Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.0800
CY2019Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1075
CY2020Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1112
CY2020Q4 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
2028000
CY2020Q4 us-gaap Time Deposit Maturities Year One
TimeDepositMaturitiesYearOne
100220000
CY2020Q4 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
6564000
CY2020Q4 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
40998000
CY2019Q4 us-gaap Time Deposits
TimeDeposits
192702000
CY2020Q4 us-gaap Time Deposits
TimeDeposits
158116000
CY2019Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
572000
CY2020Q4 us-gaap Unamortized Loan Commitment And Origination Fees And Unamortized Discounts Or Premiums
UnamortizedLoanCommitmentAndOriginationFeesAndUnamortizedDiscountsOrPremiums
-18000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4381597
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4341575
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4375814
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4341575

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