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Parent Company Only Condensed Financial Information | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Condensed Financial Information | PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION The following tables present parent company only condensed financial information. Condensed Parent Company Only Balance Sheets:
(Dollars in thousands) | December 31, 2021 |  | December 31, 2020
ASSETS |  |  |
Cash and cash equivalents | $ | 64,530 |  |  | $ | 51,183 |
Securities - held to maturity | 4,947 |  |  | 5,919 |
Investment in bank subsidiary | 938,255 |  |  | 793,938 |
Investment in non-bank subsidiaries | 894 |  |  | 4,592 |
Other assets | 479 |  |  | 866 |
Total assets | $ | 1,009,105 |  |  | $ | 856,498 |
LIABILITIES AND EQUITY |  |  |
Subordinated notes | $ | 106,957 |  |  | $ | 87,509 |
Junior subordinated debentures | 40,602 |  |  | 40,072 |
Intercompany payables | 128 |  |  | 178 |
Accrued expenses and other liabilities | 2,554 |  |  | 1,958 |
Total liabilities | 150,241 |  |  | 129,717 |
Stockholders' equity | 858,864 |  |  | 726,781 |
Total liabilities and equity | $ | 1,009,105 |  |  | $ | 856,498 |
Condensed Parent Company Only Statements of Income:
| Years Ended December 31,
(Dollars in thousands) | 2021 |  | 2020 |  | 2019
Interest income | $ | 100 |  |  | $ | 270 |  |  | $ | 1,163 |
Interest expense | (8,220) |  |  | (7,477) |  |  | (6,464) |
Credit loss (expense) benefit | (56) |  |  | (1,899) |  |  | 83 |
Other income | 53 |  |  | (20) |  |  | (187) |
Salaries and employee benefits expense | (618) |  |  | (606) |  |  | (613) |
Other expense | (2,379) |  |  | (2,376) |  |  | (2,069) |
Income (loss) before income tax and income from subsidiaries | (11,120) |  |  | (12,108) |  |  | (8,087) |
Income tax (expense) benefit | 2,202 |  |  | 2,631 |  |  | 193 |
Dividends from subsidiaries and equity in undistributed subsidiary income | 121,892 |  |  | 73,501 |  |  | 66,438 |
Net income | 112,974 |  |  | 64,024 |  |  | 58,544 |
Dividends on preferred stock | (3,206) |  |  | (1,701) |  |  | — |
Net income available to common stockholders | $ | 109,768 |  |  | $ | 62,323 |  |  | $ | 58,544 |
Comprehensive income attributable to Parent | $ | 115,189 |  |  | $ | 68,737 |  |  | $ | 60,853 |
Condensed Parent Company Only Statements of Cash Flows:
| Years Ended December 31,
(Dollars in thousands) | 2021 |  | 2020 |  | 2019
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 112,974 |  |  | $ | 64,024 |  |  | $ | 58,544 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |
Equity in undistributed subsidiary income | (121,892) |  |  | (58,501) |  |  | (35,938) |
Net accretion of securities | (87) |  |  | (221) |  |  | (923) |
Amortization of junior subordinated debentures | 530 |  |  | 506 |  |  | 483 |
Amortization of subordinated notes issuance costs | 1,224 |  |  | 182 |  |  | 116 |
Stock based compensation | 420 |  |  | 315 |  |  | 315 |
Credit loss expense (benefit) | 56 |  |  | 1,900 |  |  | — |
Change in other assets | 387 |  |  | 337 |  |  | 2,438 |
Change in accrued expenses and other liabilities | 546 |  |  | 505 |  |  | (4,771) |
Net cash provided by (used in) operating activities | (5,842) |  |  | 9,047 |  |  | 20,264 |
Cash flows from investing activities: |  |  |  |  |
Investment in subsidiaries | 3,383 |  |  | 146 |  |  | — |
Proceeds from maturities, calls, and pay downs of securities held to maturity | 1,003 |  |  | 693 |  |  | 993 |
Net change in loans | — |  |  | 719 |  |  | 9,193 |
Net cash provided by (used in) investing activities | 4,386 |  |  | 1,558 |  |  | 10,186 |
Cash flows from financing activities: |  |  |  |  |
Proceeds from issuance of subordinated notes, net | 68,224 |  |  | — |  |  | 38,282 |
Repayment of subordinated notes | (50,000) |  |  | — |  |  | — |
Issuance of common stock, net of issuance costs | — |  |  | — |  |  | — |
Issuance of preferred stock, net of issuance costs | — |  |  | 42,364 |  |  | — |
Dividends on preferred stock | (3,206) |  |  | (1,701) |  |  | — |
Purchase of treasury stock | (1,241) |  |  | (35,772) |  |  | (64,524) |
Stock option exercises | 577 |  |  | (227) |  |  | — |
Proceeds from employee stock purchase plan common stock issuance | 449 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | 14,803 |  |  | 4,664 |  |  | (26,242) |
Net increase (decrease) in cash and cash equivalents | 13,347 |  |  | 15,269 |  |  | 4,208 |
Cash and cash equivalents at beginning of period | 51,183 |  |  | 35,914 |  |  | 31,706 |
Cash and cash equivalents at end of period | $ | 64,530 |  |  | $ | 51,183 |  |  | $ | 35,914 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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