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Parent Company Condensed Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Parent Company Condensed Financial Information |
Schedule of condensed balance sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​
Noninterest bearing deposit with bank subsidiary | ​ | $ | 78,007 | ​ | $ | 36,686 | ​
Investment in subsidiaries | ​ |  | 671,894 | ​ |  | 620,663 | ​
Other assets | ​ |  | 7,457 | ​ |  | 6,183 | ​
Total assets | ​ | $ | 757,358 | ​ | $ | 663,532 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders’ Equity | ​ | ​ | ​ | ​ | ​ | ​ | ​
Junior subordinated debentures | ​ | $ | 25,773 | ​ | $ | 25,773 | ​
Subordinated debt | ​ |  | 59,467 | ​ |  | 59,382 | ​
Senior notes | ​ | ​ | - | ​ | ​ | - | ​
Notes payable | ​ | ​ | - | ​ | ​ | - | ​
Other liabilities | ​ |  | 1,084 | ​ |  | 1,096 | ​
Stockholders’ equity | ​ |  | 671,034 | ​ |  | 577,281 | ​
Total liabilities and stockholders' equity | ​ | $ | 757,358 | ​ | $ | 663,532 | ​
Schedule of condensed statements of operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Operating Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash dividends received from subsidiaries | ​ | $ | 55,000 | ​ | $ | 65,000 | ​ | $ | 40,000
Other income | ​ |  | 59 | ​ |  | 67 | ​ |  | 29
Total operating income | ​ |  | 55,059 | ​ |  | 65,067 | ​ |  | 40,029
Operating Expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Junior subordinated debentures | ​ |  | 1,127 | ​ |  | 1,095 | ​ |  | 1,136
Subordinated debt | ​ | ​ | 2,185 | ​ | ​ | 2,185 | ​ | ​ | 2,185
Senior notes | ​ | ​ | - | ​ | ​ | 2,408 | ​ | ​ | 2,682
Notes payable | ​ |  | - | ​ |  | 87 | ​ |  | 385
Other expenses | ​ |  | 6,209 | ​ |  | 5,947 | ​ |  | 5,086
Total operating expense | ​ |  | 9,521 | ​ |  | 11,722 | ​ |  | 11,474
Income before income taxes and equity in undistributed net income of subsidiaries | ​ |  | 45,538 | ​ |  | 53,345 | ​ |  | 28,555
Income tax benefit | ​ |  | (2,644) | ​ |  | (3,309) | ​ |  | (3,216)
Income before equity in undistributed net income of subsidiaries | ​ |  | 48,182 | ​ |  | 56,654 | ​ |  | 31,771
Equity in undistributed net income of subsidiaries | ​ |  | 37,082 | ​ |  | 35,075 | ​ |  | 35,634
Net income available to common stockholders | ​ | $ | 85,264 | ​ | $ | 91,729 | ​ | $ | 67,405
Schedule of condensed statements of cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Cash Flows from Operating Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Income | ​ | $ | 85,264 | ​ | $ | 91,729 | ​ | $ | 67,405
Adjustments to reconcile net income to net cash from operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed net income of subsidiaries | ​ |  | (37,082) | ​ |  | (35,075) | ​ |  | (35,634)
Provision for deferred tax (benefit) expense | ​ |  | (152) | ​ |  | (513) | ​ |  | 91
Change in taxes payable | ​ |  | (250) | ​ |  | 794 | ​ |  | (4,694)
Change in other assets | ​ |  | 12 | ​ |  | (43) | ​ |  | 12
Stock-based compensation | ​ |  | 3,914 | ​ |  | 3,603 | ​ |  | 2,960
Other, net | ​ |  | 76 | ​ |  | 575 | ​ |  | (2,753)
Net cash provided by operating activities | ​ |  | 51,782 | ​ |  | 61,070 | ​ |  | 27,387
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from Investing Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for acquisition, net of cash and cash equivalents retained | ​ |  | - | ​ |  | - | ​ |  | -
Net cash provided by (used in) investing activities | ​ |  | - | ​ |  | - | ​ |  | -
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from Financing Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividend paid on common stock | ​ | ​ | (9,413) | ​ | ​ | (8,946) | ​ | ​ | (8,877)
Purchases of treasury stock | ​ |  | (1,048) | ​ |  | (605) | ​ |  | (455)
Repayment of term note | ​ | ​ | - | ​ | ​ | (9,000) | ​ | ​ | (4,000)
Repayment of senior note | ​ | ​ | - | ​ | ​ | (45,000) | ​ | ​ | -
Net cash used in financing activities | ​ |  | (10,461) | ​ |  | (63,551) | ​ |  | (13,332)
Net change in cash and cash equivalents | ​ |  | 41,321 | ​ |  | (2,481) | ​ |  | 14,055
Cash and cash equivalents at beginning of year | ​ |  | 36,686 | ​ |  | 39,167 | ​ |  | 25,112
Cash and cash equivalents at end of year | ​ | $ | 78,007 | ​ | $ | 36,686 | ​ | $ | 39,167
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​

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