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PARENT COMPANY CONDENSED FINANCIAL STATEMENTS: | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY CONDENSED FINANCIAL STATEMENTS | PARENT COMPANY CONDENSED FINANCIAL STATEMENTS: The parent company’s condensed balance sheets as of December 31, 2021 and 2020, and the related condensed statements of income and comprehensive income and cash flows for each of the three years in the period ended December 31, 2021, are as follows:
CONDENSED BALANCE SHEETS |  |  |  |
|  | December 31,
(Dollar amounts in thousands) |  | 2021 |  | 2020
ASSETS |  |  |  |
Cash deposits in affiliated banks |  | $ | 13,844 |  |  | $ | 2,480 |
Investments in subsidiaries |  | 571,986 |  |  | 597,888 |
Land and headquarters building, net |  | 4,423 |  |  | 4,614 |
Other |  | 7,518 |  |  | 6,000 |
Total Assets |  | $ | 597,771 |  |  | $ | 610,982 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |
Liabilities |  |  |  |
Dividends payable |  | 7,952 |  |  | 7,182 |
Other liabilities |  | 7,243 |  |  | 6,808 |
TOTAL LIABILITIES |  | 15,195 |  |  | 13,990 |
Shareholders' Equity |  | 582,576 |  |  | 596,992 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |  | $ | 597,771 |  |  | $ | 610,982 |
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME |  |  |  |
|  | Years Ended December 31,
(Dollar amounts in thousands) |  | 2021 |  | 2020 |  | 2019
Dividends from subsidiaries |  | $ | 99,231 |  |  | $ | 31,069 |  |  | $ | 81,281 |
Other income |  | 746 |  |  | 1,054 |  |  | 720 |
Interest on borrowings |  | — |  |  | (374) |  |  | (142) |
Other operating expenses |  | (2,611) |  |  | (3,430) |  |  | (4,327) |
Income before income taxes and equity in undistributed earnings of subsidiaries |  | 97,366 |  |  | 28,319 |  |  | 77,532 |
Income tax benefit |  | 681 |  |  | 801 |  |  | 908 |
Income before equity in undistributed earnings of subsidiaries |  | 98,047 |  |  | 29,120 |  |  | 78,440 |
Equity in undistributed earnings of subsidiaries |  | (45,060) |  |  | 24,724 |  |  | (29,568) |
Net income |  | $ | 52,987 |  |  | $ | 53,844 |  |  | $ | 48,872 |
Comprehensive income |  | $ | 40,797 |  |  | $ | 71,109 |  |  | $ | 64,825 |
CONDENSED STATEMENTS OF CASH FLOWS |  |  |  |  |  |
|  | Years Ended December 31,
(Dollar amounts in thousands) |  | 2021 |  | 2020 |  | 2019
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |
Net Income |  | $ | 52,987 |  |  | $ | 53,844 |  |  | $ | 48,872 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Depreciation and amortization |  | 191 |  |  | 328 |  |  | 193 |
Equity in undistributed earnings |  | 45,060 |  |  | (24,724) |  |  | (29,568) |
Contribution of shares to ESOP |  | 1,402 |  |  | 1,471 |  |  | 1,251 |
Restricted stock compensation |  | 807 |  |  | 820 |  |  | 801 |
Increase (decrease) in other liabilities |  | 435 |  |  | 6,127 |  |  | (2,150) |
(Increase) decrease in other assets |  | (1,518) |  |  | (5,977) |  |  | 1,187 |
NET CASH FROM OPERATING ACTIVITIES |  | 99,364 |  |  | 31,889 |  |  | 20,586 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |
Cash received (disbursed) from acquisitions |  | (31,348) |  |  | — |  |  | (6,571) |
NET CASH FROM INVESTING ACTIVITIES |  | (31,348) |  |  | — |  |  | (6,571) |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |
Principal payments on borrowings |  | — |  |  | (10,310) |  |  | — |
Purchase of treasury stock |  | (42,471) |  |  | (9,220) |  |  | (315) |
Dividends paid |  | (14,181) |  |  | (14,273) |  |  | (12,648) |
NET CASH FROM FINANCING ACTIVITES |  | (56,652) |  |  | (33,803) |  |  | (12,963) |
NET (DECREASE) INCREASE IN CASH |  | 11,364 |  |  | (1,914) |  |  | 1,052 |
CASH, BEGINNING OF YEAR |  | 2,480 |  |  | 4,394 |  |  | 3,342 |
CASH, END OF YEAR |  | $ | 13,844 |  |  | $ | 2,480 |  |  | $ | 4,394 |
Supplemental disclosures of cash flow information: |  |  |  |  |  |
Cash paid during the year for: |  |  |  |  |  |
Interest |  | $ | — |  |  | $ | 375 |  |  | $ | — |
Income taxes |  | $ | 15,025 |  |  | $ | 7,549 |  |  | $ | 9,595 |

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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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