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Parent Company Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets | CONDENSED BALANCE SHEETS
|  | December 31,
|  | 2021 |  | 2020
ASSETS |  |  |  |
Cash |  | $ | 86,391 |  |  | $ | 47,533 |
Other Investments |  | 353 |  |  | 353 |
Investment in Subsidiary Bank |  | 616,459 |  |  | 614,661 |
Investment in Non-banking Subsidiaries |  | 5,973 |  |  | 5,956 |
Other Assets |  | 20,678 |  |  | 17,247 |
Total Assets |  | $ | 729,854 |  |  | $ | 685,750 |
LIABILITIES |  |  |  |
Borrowings |  | $ | 55,804 |  |  | $ | 55,400 |
Other Liabilities |  | 5,591 |  |  | 5,641 |
Total Liabilities |  | 61,395 |  |  | 61,041 |
SHAREHOLDERS’ EQUITY |  |  |  |
Common Stock |  | 26,554 |  |  | 26,502 |
Additional Paid-in Capital |  | 276,057 |  |  | 274,385 |
Retained Earnings |  | 350,364 |  |  | 288,447 |
Accumulated Other Comprehensive Income (Loss) |  | 15,484 |  |  | 35,375 |
Total Shareholders’ Equity |  | 668,459 |  |  | 624,709 |
Total Liabilities and Shareholders’ Equity |  | $ | 729,854 |  |  | $ | 685,750 |
Condensed Statements of Income and Comprehensive Income | CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
|  | Years Ended December 31,
|  | 2021 |  | 2020 |  | 2019
INCOME |  |  |  |  |  |
Dividends from Subsidiaries |  |  |  |  |  |
Bank |  | $ | 65,000 |  |  | $ | 40,000 |  |  | $ | 45,000 |
Non-bank |  | 1,470 |  |  | 1,580 |  |  | 1,400 |
Interest Income |  | 109 |  |  | 118 |  |  | 102 |
Other Income (Loss) |  | 11 |  |  | 25 |  |  | (2) |
Total Income |  | 66,590 |  |  | 41,723 |  |  | 46,500 |
EXPENSES |  |  |  |  |  |
Salaries and Employee Benefits |  | 537 |  |  | 498 |  |  | 530 |
Professional Fees |  | 1,256 |  |  | 564 |  |  | 1,685 |
Occupancy and Equipment Expense |  | 10 |  |  | 7 |  |  | 7 |
Interest Expense |  | 2,763 |  |  | 2,907 |  |  | 2,781 |
Other Expenses |  | 1,200 |  |  | 1,286 |  |  | 975 |
Total Expenses |  | 5,766 |  |  | 5,262 |  |  | 5,978 |
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES |  | 60,824 |  |  | 36,461 |  |  | 40,522 |
Income Tax Benefit |  | 1,607 |  |  | 1,922 |  |  | 1,712 |
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES |  | 62,431 |  |  | 38,383 |  |  | 42,234 |
Equity in Undistributed Income of Subsidiaries |  | 21,706 |  |  | 23,827 |  |  | 16,988 |
NET INCOME |  | 84,137 |  |  | 62,210 |  |  | 59,222 |
Other Comprehensive Income: |  |  |  |  |  |
Changes in Unrealized Gain (Loss) on Securities, Available-for-Sale |  | (19,891) |  |  | 20,270 |  |  | 22,432 |
Changes in Unrecognized Loss in Postretirement Benefit Obligation, Net |  | — |  |  | — |  |  | (229) |
TOTAL COMPREHENSIVE INCOME |  | $ | 64,246 |  |  | $ | 82,480 |  |  | $ | 81,425 |
Condensed Statements of Cash Flows | CONDENSED STATEMENTS OF CASH FLOWS
|  | Years Ended December 31,
|  | 2021 |  | 2020 |  | 2019
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |
Net Income |  | $ | 84,137 |  |  | $ | 62,210 |  |  | $ | 59,222 |
Adjustments to Reconcile Net Income to Net Cash from Operations |  |  |  |  |  |
Change in Other Assets |  | (3,939) |  |  | (8,575) |  |  | 31 |
Change in Other Liabilities |  | 863 |  |  | (142) |  |  | (406) |
Equity Based Compensation |  | 1,723 |  |  | 1,051 |  |  | 1,287 |
Excess Tax Benefit from Restricted Share Grant |  | — |  |  | 3 |  |  | 25 |
Equity in Excess Undistributed Income of Subsidiaries |  | (21,706) |  |  | (23,827) |  |  | (16,988) |
Net Cash from Operating Activities |  | 61,078 |  |  | 30,720 |  |  | 43,171 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |
Cash Used for Business Acquisitions |  | — |  |  | — |  |  | (14,958) |
Net Cash from Investing Activities |  | — |  |  | — |  |  | (14,958) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |
Proceeds from Issuance of Long-term Debt |  | — |  |  | — |  |  | 39,213 |
Repayment of Long-term Debt |  | — |  |  | — |  |  | (25,000) |
Issuance (Retirement) of Common Stock |  | — |  |  | (5,789) |  |  | — |
Dividends Paid |  | (22,220) |  |  | (20,136) |  |  | (17,556) |
Net Cash from Financing Activities |  | (22,220) |  |  | (25,925) |  |  | (3,343) |
Net Change in Cash and Cash Equivalents |  | 38,858 |  |  | 4,795 |  |  | 24,870 |
Cash and Cash Equivalents at Beginning of Year |  | 47,533 |  |  | 42,738 |  |  | 17,868 |
Cash and Cash Equivalents at End of Year |  | $ | 86,391 |  |  | $ | 47,533 |  |  | $ | 42,738 |

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