XML 65 R49.htm IDEA: XBRL DOCUMENT
v3.20.4

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION |
Schedule of condensed balance sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(In thousands) |  | 2020 |  | 2019
Assets: | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 280 |  | $ | 3,663
Other assets | ​ | ​ | 554 | ​ |  | 174
Investment in the Bank | ​ | ​ | 596,703 | ​ |  | 573,410
Total assets | ​ | $ | 597,537 |  | $ | 577,247
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and stockholders’ equity: | ​ | ​ | ​ | ​ |  | ​
Subordinated debentures | ​ | $ | 79,059 |  | $ | 78,920
Other liabilities | ​ | ​ | 647 | ​ |  | 1,173
Total liabilities | ​ | ​ | 79,706 | ​ |  | 80,093
​ | ​ | ​ | ​ | ​ | ​ | ​
Total stockholders’ equity | ​ | ​ | 517,831 | ​ |  | 497,154
Total liabilities and stockholders’ equity | ​ | $ | 597,537 |  | $ | 577,247
Schedule of condensed statements of income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) |  | 2020 |  | 2019 |  | 2018
Dividends from the Bank | ​ | $ | 26,500 | ​ | $ | 24,500 | ​ | $ | 15,000
Interest expense | ​ |  | 4,401 | ​ |  | 4,539 | ​ |  | 4,539
Non-interest expense | ​ |  | 252 |  | ​ | 104 |  | ​ | 135
Income before income taxes and equity in undistributed earnings of the Bank | ​ |  | 21,847 |  | ​ | 19,857 |  | ​ | 10,326
Income tax benefit | ​ |  | (1,280) |  | ​ | (994) |  | ​ | (1,005)
Income before equity in undistributed earnings of the Bank | ​ |  | 23,127 |  | ​ | 20,851 |  | ​ | 11,331
Equity in undistributed earnings of the Bank | ​ |  | 18,915 |  | ​ | 30,840 |  | ​ | 27,896
Net income | ​ | $ | 42,042 | ​ | $ | 51,691 | ​ | $ | 39,227
Schedule of condensed statements of cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) |  | 2020 |  | 2019 |  | 2018
Cash flows from operating activities: | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
Net income | ​ | $ | 42,042 | ​ | $ | 51,691 | ​ | $ | 39,227
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  |  | ​ |  |  | ​ |
Equity in undistributed earnings of the Bank | ​ |  | (18,915) |  | ​ | (30,840) |  | ​ | (27,896)
Amortization | ​ |  | 139 |  | ​ | 139 |  | ​ | 140
(Increase) decrease in other assets | ​ |  | (379) |  | ​ | (73) |  | ​ | 108
(Decrease) increase in other liabilities | ​ |  | (526) |  | ​ | 39 |  | ​ | 11
Net cash provided by operating activities | ​ |  | 22,361 |  | ​ | 20,956 |  | ​ | 11,590
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ |  | ​ |  | ​ | ​ |  | ​ | ​
Net proceeds from issuance of common stock | ​ |  | 1,267 |  | ​ | 1,102 |  | ​ | 1,017
Purchase of treasury stock | ​ |  | (4,633) |  | ​ | (625) |  | ​ | —
Repurchase of surrendered stock from vesting of stock plans | ​ |  | (3,181) |  | ​ | (887) |  | ​ | (586)
Cash dividends paid | ​ |  | (19,197) |  | ​ | (18,420) |  | ​ | (18,342)
Net cash used in financing activities | ​ |  | (25,744) |  | ​ | (18,830) |  | ​ | (17,911)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (decrease) increase in cash and cash equivalents | ​ |  | (3,383) |  | ​ | 2,126 |  | ​ | (6,321)
Cash and cash equivalents at beginning of year | ​ |  | 3,663 |  | ​ | 1,537 |  | ​ | 7,858
Cash and cash equivalents at end of year | ​ | $ | 280 | ​ | $ | 3,663 | ​ | $ | 1,537

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration