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Parent Company Only Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Parent Company Only Financial Information [Abstract] |
Schedule of Condensed Balance Sheet |
Condensed Balance Sheets | December 31,
(Dollars in thousands) | 2024 | 2023
Assets: |  |
Cash and due from other banks | $ | 50 |  | $ | 50 |
Interest-bearing deposits in subsidiary bank | 29,937 |  | 17,099 |
Due from subsidiary bank | 4,874 |  | 771 |
Other investment securities | 244 |  | 237 |
Investments in subsidiaries: |  |
Bank | 1,120,554 |  | 1,072,238 |
Non-bank | 14,717 |  | 17,606 |
Other assets | 7,010 |  | 12,084 |
Total assets | $ | 1,177,386 |  | $ | 1,120,085 |
Liabilities: |  |
Accrued expenses and other liabilities | $ | 3,075 |  | $ | 3,342 |
Dividends payable | 1,420 |  | 938 |
Subordinated notes and debentures | 24,030 |  | 25,000 |
Mandatorily redeemable capital securities of subsidiary trusts and subordinated debentures | 37,271 |  | 37,271 |
Total liabilities | 65,796 |  | 66,551 |
Total stockholders’ equity | 1,111,590 |  | 1,053,534 |
Total liabilities and stockholders’ equity | $ | 1,177,386 |  | $ | 1,120,085 |
Schedule of Condensed Income Statement |
Condensed Statements of Income | Year Ended December 31,
(Dollars in thousands) | 2024 | 2023 | 2022
Income: |  |  |
Dividends from subsidiary bank | $ | 73,500 |  | $ | 48,000 |  | $ | 52,000 |
Dividends from non-bank subsidiary | 193 |  | 200 |  | 1,860 |
Interest and other income | (416) |  | 11 |  | 39 |
Total income | 73,277 |  | 48,211 |  | 53,899 |
Expense: |  |  |
Trust preferred securities expense | 2,021 |  | 1,147 |  | 744 |
Intercompany management fees | 2,273 |  | 1,873 |  | 1,379 |
Other expense | 9,143 |  | 11,011 |  | 6,539 |
Total expense | 13,437 |  | 14,031 |  | 8,662 |
Income before federal income taxes and equity in undistributed earnings of subsidiaries | 59,840 |  | 34,180 |  | 45,237 |
Applicable income tax expense | (3,143) |  | (3,296) |  | (1,979) |
Equity in undistributed earnings of subsidiaries | 54,222 |  | 75,887 |  | 54,076 |
Net income | $ | 117,205 |  | $ | 113,363 |  | $ | 101,292 |
Schedule of Condensed Cash Flow Statement |
Statements of Cash Flows | Year Ended December 31,
(Dollars in thousands) | 2024 | 2023 | 2022
Operating activities |  |  |
Net income | $ | 117,205 |  | $ | 113,363 |  | $ | 101,292 |
Adjustments to reconcile net income to cash provided by operations: |  |  |
Depreciation, amortization and accretion, net | — |  | — |  | 138 |
Equity in undistributed earnings of subsidiaries | (54,222) |  | (75,887) |  | (54,076) |
Other, net | 12,624 |  | (6,757) |  | 5,008 |
Net cash provided by operating activities | 75,607 |  | 30,719 |  | 52,362 |
Investing activities |  |  |
Investment in subsidiaries | (43,203) |  | (39,414) |  | (13,084) |
Repayments from subsidiaries | 39,100 |  | 40,086 |  | 12,279 |
Business combinations, net of cash received | — |  | 27,763 |  | (1,239) |
Other, net | (7) |  | (1,636) |  | (262) |
Net cash used in investing activities | (4,110) |  | 26,799 |  | (2,306) |
Financing activities |  |  |
Purchase of treasury stock | (4,309) |  | (4,799) |  | (9,152) |
Proceeds from issuance of common shares | 1,478 |  | 1,264 |  | 1,226 |
Cash dividends paid | (55,828) |  | (51,845) |  | (42,371) |
Net cash used in financing activities | (58,659) |  | (55,380) |  | (50,297) |
Net increase (decrease) in cash and cash equivalents | 12,838 |  | 2,138 |  | (241) |
Cash and cash equivalents at the beginning of year | 17,149 |  | 15,011 |  | 15,252 |
Cash and cash equivalents at the end of year | $ | 29,987 |  | $ | 17,149 |  | $ | 15,011 |
Supplemental cash flow information: |  |  |
Interest paid | $ | 2,253 |  | $ | 676 |  | $ | 663 |

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