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PARENT COMPANY CONDENSED FINANCIAL STATEMENTS | 12 Months Ended
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Dec. 31, 2022
PARENT COMPANY CONDENSED FINANCIAL STATEMENTS |
PARENT COMPANY CONDENSED FINANCIAL STATEMENTS | 21.PARENT COMPANY CONDENSED FINANCIAL STATEMENTS: The parent company’s condensed balance sheets as of December 31, 2022 and 2021, 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, 2022, are as follows: 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
​ 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
​ 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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- 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 https://asc.fasb.org/extlink&oid=126898705&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 https://asc.fasb.org/extlink&oid=126929396&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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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