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Parent Company Condensed Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Parent Company Condensed Financial Information |
Schedule of condensed balance sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest bearing deposit with bank subsidiary | ​ | $ | 39,167 | ​ | $ | 25,112 | ​
Investment in subsidiaries | ​ |  | 555,140 | ​ |  | 626,325 | ​
Other assets | ​ |  | 6,526 | ​ |  | 1,111 | ​
Total assets | ​ | $ | 600,833 | ​ | $ | 652,548 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders’ Equity | ​ | ​ | ​ | ​ | ​ | ​ | ​
Junior subordinated debentures | ​ | $ | 25,773 | ​ | $ | 25,773 | ​
Subordinated debt | ​ |  | 59,297 | ​ |  | 59,212 | ​
Senior notes | ​ | ​ | 44,585 | ​ | ​ | 44,480 | ​
Notes payable | ​ | ​ | 9,000 | ​ | ​ | 13,000 | ​
Other liabilities | ​ |  | 1,037 | ​ |  | 8,056 | ​
Stockholders’ equity | ​ |  | 461,141 | ​ |  | 502,027 | ​
Total liabilities and stockholders' equity | ​ | $ | 600,833 | ​ | $ | 652,548 | ​
​
Schedule of condensed statements of operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Operating Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash dividends received from subsidiaries | ​ | $ | 40,000 | ​ | $ | 40,000 | ​ | $ | 41,300
Other income | ​ |  | 29 | ​ |  | 15 | ​ |  | 32
Total operating income | ​ |  | 40,029 | ​ |  | 40,015 | ​ |  | 41,332
Operating Expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Junior subordinated debentures | ​ |  | 1,136 | ​ |  | 1,133 | ​ |  | 2,216
Subordinated debt | ​ | ​ | 2,185 | ​ | ​ | 1,610 | ​ | ​ | -
Senior notes | ​ | ​ | 2,682 | ​ | ​ | 2,692 | ​ | ​ | 2,693
Notes payable | ​ |  | 385 | ​ |  | 291 | ​ |  | 362
Other expenses | ​ |  | 5,086 | ​ |  | 6,918 | ​ |  | 3,669
Total operating expense | ​ |  | 11,474 | ​ |  | 12,644 | ​ |  | 8,940
Income before income taxes and equity in undistributed net income of subsidiaries | ​ |  | 28,555 | ​ |  | 27,371 | ​ |  | 32,392
Income tax benefit | ​ |  | (3,216) | ​ |  | (2,986) | ​ |  | (2,215)
Income before equity in undistributed net income of subsidiaries | ​ |  | 31,771 | ​ |  | 30,357 | ​ |  | 34,607
Equity in undistributed net income of subsidiaries | ​ |  | 35,634 | ​ |  | (10,313) | ​ |  | (6,782)
Net income available to common stockholders | ​ | $ | 67,405 | ​ | $ | 20,044 | ​ | $ | 27,825
​
Schedule of condensed statements of cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Cash Flows from Operating Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Income | ​ | $ | 67,405 | ​ | $ | 20,044 | ​ | $ | 27,825
Adjustments to reconcile net income to net cash from operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed net income of subsidiaries | ​ |  | (35,634) | ​ |  | 10,313 | ​ |  | 6,782
Provision for deferred tax expense (benefit) | ​ |  | 91 | ​ |  | (248) | ​ |  | (514)
Change in taxes payable | ​ |  | (4,694) | ​ |  | (695) | ​ |  | 5,933
Change in other assets | ​ |  | 12 | ​ |  | (12) | ​ |  | 954
Stock-based compensation | ​ |  | 2,960 | ​ |  | 1,435 | ​ |  | 2,089
Other, net | ​ |  | (2,753) | ​ |  | 961 | ​ |  | 682
Net cash provided by operating activities | ​ |  | 27,387 | ​ |  | 31,798 | ​ |  | 43,751
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from Investing Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for acquisition, net of cash and cash equivalents retained | ​ |  | - | ​ |  | (94,406) | ​ |  | -
Net cash used in investing activities | ​ |  | - | ​ |  | (94,406) | ​ |  | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from Financing Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividend paid on common stock | ​ | ​ | (8,877) | ​ | ​ | (4,612) | ​ | ​ | (1,186)
Purchases of treasury stock | ​ |  | (455) | ​ |  | (10,417) | ​ |  | (5,922)
Redemption of junior subordinated debentures | ​ | ​ | - | ​ | ​ | - | ​ | ​ | (32,604)
Issuance of term note | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 20,000
Issuance of sub debt | ​ | ​ | - | ​ | ​ | 59,148 | ​ | ​ | -
Repayment of term note | ​ | ​ | (4,000) | ​ | ​ | (4,000) | ​ | ​ | (3,000)
Net cash (used in) provided by financing activities | ​ |  | (13,332) | ​ |  | 40,119 | ​ |  | (22,712)
Net change in cash and cash equivalents | ​ |  | 14,055 | ​ |  | (22,489) | ​ |  | 21,039
Cash and cash equivalents at beginning of year | ​ |  | 25,112 | ​ |  | 47,601 | ​ |  | 26,562
Cash and cash equivalents at end of year | ​ | $ | 39,167 | ​ | $ | 25,112 | ​ | $ | 47,601
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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