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PARENT COMPANY CONDENSED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
PARENT COMPANY CONDENSED FINANCIAL STATEMENTS |
Schedule of Condensed Balance Sheet | CONDENSED BALANCE SHEETS ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(Dollar amounts in thousands) |  | 2022 |  | 2021
ASSETS |  | ​ |  |  | ​ |
Cash deposits in affiliated banks | ​ | $ | 60,692 | ​ | $ | 13,844
Investments in subsidiaries | ​ |  | 412,570 | ​ |  | 571,986
Land and headquarters building, net | ​ |  | 9,116 | ​ |  | 4,423
Other | ​ |  | 42,120 | ​ |  | 7,518
Total Assets | ​ | $ | 524,498 | ​ | $ | 597,771
LIABILITIES AND SHAREHOLDERS' EQUITY | ​ |  |  | ​ |  |
Liabilities | ​ |  |  | ​ |  |
Dividends payable | ​ |  | 8,912 | ​ |  | 7,952
Other liabilities | ​ |  | 40,293 | ​ |  | 7,243
TOTAL LIABILITIES | ​ |  | 49,205 | ​ |  | 15,195
Shareholders' Equity | ​ |  | 475,293 | ​ |  | 582,576
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | ​ | $ | 524,498 | ​ | $ | 597,771
​
Schedule of Condensed Income Statement | CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
(Dollar amounts in thousands) |  | 2022 |  | 2021 |  | 2020
Dividends from subsidiaries | ​ | $ | 94,048 | ​ | $ | 99,231 | ​ | $ | 31,069
Other income | ​ |  | 1,254 | ​ |  | 746 | ​ |  | 1,054
Interest on borrowings | ​ |  | — | ​ |  | — | ​ |  | (374)
Other operating expenses | ​ |  | (3,435) | ​ |  | (2,611) | ​ |  | (3,430)
Income before income taxes and equity in undistributed earnings of subsidiaries | ​ |  | 91,867 | ​ |  | 97,366 | ​ |  | 28,319
Income tax benefit | ​ |  | 1,110 | ​ |  | 681 | ​ |  | 801
Income before equity in undistributed earnings of subsidiaries | ​ |  | 92,977 | ​ |  | 98,047 | ​ |  | 29,120
Equity in undistributed earnings of subsidiaries | ​ |  | (21,868) | ​ |  | (45,060) | ​ |  | 24,724
Net income | ​ | $ | 71,109 | ​ | $ | 52,987 | ​ | $ | 53,844
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Comprehensive income (loss) | ​ | $ | (66,439) | ​ | $ | 40,797 | ​ | $ | 71,109
​
Schedule of Condensed Cash Flow Statement | CONDENSED STATEMENTS OF CASH FLOWS ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
(Dollar amounts in thousands) |  | 2022 |  | 2021 |  | 2020
CASH FLOWS FROM OPERATING ACTIVITIES: |  | ​ |  |  | ​ |  |  | ​ |
Net Income | ​ | $ | 71,109 | ​ | $ | 52,987 | ​ | $ | 53,844
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Depreciation and amortization | ​ |  | 297 | ​ |  | 191 | ​ |  | 328
Equity in undistributed earnings | ​ |  | 21,868 | ​ |  | 45,060 | ​ |  | (24,724)
Contribution of shares to ESOP | ​ |  | 1,451 | ​ |  | 1,402 | ​ |  | 1,471
Restricted stock compensation | ​ |  | 825 | ​ |  | 807 | ​ |  | 820
Increase (decrease) in other liabilities | ​ |  | 33,050 | ​ |  | 435 | ​ |  | 6,127
(Increase) decrease in other assets | ​ |  | (34,602) | ​ |  | (1,518) | ​ |  | (5,977)
NET CASH FROM OPERATING ACTIVITIES | ​ |  | 93,998 | ​ |  | 99,364 | ​ |  | 31,889
CASH FLOWS FROM INVESTING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
(Increase) decrease in premises and equipment | ​ | ​ | (4,990) | ​ | ​ | — | ​ | ​ | —
Cash received (disbursed) from acquisitions | ​ |  | — | ​ |  | (31,348) | ​ |  | —
NET CASH FROM INVESTING ACTIVITIES | ​ |  | (4,990) | ​ |  | (31,348) | ​ |  | —
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Principal payments on borrowings | ​ |  | — | ​ |  | — | ​ |  | (10,310)
Purchase of treasury stock | ​ |  | (27,701) | ​ |  | (42,471) | ​ |  | (9,220)
Dividends paid | ​ |  | (14,459) | ​ |  | (14,181) | ​ |  | (14,273)
NET CASH FROM FINANCING ACTIVITES | ​ |  | (42,160) | ​ |  | (56,652) | ​ |  | (33,803)
NET (DECREASE) INCREASE IN CASH | ​ |  | 46,848 | ​ |  | 11,364 | ​ |  | (1,914)
CASH, BEGINNING OF YEAR | ​ |  | 13,844 | ​ |  | 2,480 | ​ |  | 4,394
CASH, END OF YEAR | ​ | $ | 60,692 | ​ | $ | 13,844 | ​ | $ | 2,480
Supplemental disclosures of cash flow information: | ​ |  |  | ​ |  |  | ​ |  |
Cash paid during the year for: | ​ |  |  | ​ |  |  | ​ |  |
Interest | ​ | $ | — | ​ | $ | — | ​ | $ | 375
Income taxes | ​ | $ | 13,525 | ​ | $ | 15,025 | ​ | $ | 7,549

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