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PARENT COMPANY CONDENSED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
PARENT COMPANY CONDENSED FINANCIAL STATEMENTS |
Schedule of Condensed Balance Sheet | CONDENSED BALANCE SHEETS ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(Dollar amounts in thousands) |  | 2023 |  | 2022
ASSETS |  | ​ |  |  | ​ |
Cash deposits in affiliated banks | ​ | $ | 37,907 | ​ | $ | 60,692
Investments in subsidiaries | ​ |  | 484,868 | ​ |  | 412,570
Securities available-for-sale | ​ | ​ | 1,401 | ​ | ​ | —
Land and headquarters building, net | ​ |  | 8,822 | ​ |  | 9,116
Other | ​ |  | 36,985 | ​ |  | 42,120
Total Assets | ​ | $ | 569,983 | ​ | $ | 524,498
LIABILITIES AND SHAREHOLDERS' EQUITY | ​ |  |  | ​ |  |
Liabilities | ​ |  |  | ​ |  |
Dividends payable | ​ |  | 5,304 | ​ |  | 8,912
Other liabilities | ​ |  | 36,703 | ​ |  | 40,293
TOTAL LIABILITIES | ​ |  | 42,007 | ​ |  | 49,205
Shareholders' Equity | ​ |  | 527,976 | ​ |  | 475,293
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | ​ | $ | 569,983 | ​ | $ | 524,498
Schedule of Condensed Income Statement | CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
(Dollar amounts in thousands) |  | 2023 |  | 2022 |  | 2021
Dividends from subsidiaries | ​ | $ | 2,818 | ​ | $ | 94,048 | ​ | $ | 99,231
Securities interest income | ​ | ​ | 7 | ​ | ​ | — | ​ | ​ | —
Other income | ​ |  | 1,476 | ​ |  | 1,254 | ​ |  | 746
Other operating expenses | ​ |  | (3,719) | ​ |  | (3,435) | ​ |  | (2,611)
Income before income taxes and equity in undistributed earnings of subsidiaries | ​ |  | 582 | ​ |  | 91,867 | ​ |  | 97,366
Income tax benefit | ​ |  | 684 | ​ |  | 1,110 | ​ |  | 681
Income before equity in undistributed earnings of subsidiaries | ​ |  | 1,266 | ​ |  | 92,977 | ​ |  | 98,047
Equity in undistributed earnings of subsidiaries | ​ |  | 59,406 | ​ |  | (21,868) | ​ |  | (45,060)
Net income | ​ | $ | 60,672 | ​ | $ | 71,109 | ​ | $ | 52,987
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Comprehensive income (loss) | ​ | $ | 73,559 | ​ | $ | (66,439) | ​ | $ | 40,797
Schedule of Condensed Cash Flow Statement | CONDENSED STATEMENTS OF CASH FLOWS ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
(Dollar amounts in thousands) |  | 2023 |  | 2022 |  | 2021
CASH FLOWS FROM OPERATING ACTIVITIES: |  | ​ |  |  | ​ |  |  | ​ |
Net Income | ​ | $ | 60,672 | ​ | $ | 71,109 | ​ | $ | 52,987
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Depreciation and amortization | ​ |  | 307 | ​ |  | 297 | ​ |  | 191
Equity in undistributed earnings | ​ |  | (59,406) | ​ |  | 21,868 | ​ |  | 45,060
Contribution of shares to ESOP | ​ |  | 1,518 | ​ |  | 1,451 | ​ |  | 1,402
Restricted stock compensation | ​ |  | 895 | ​ |  | 825 | ​ |  | 807
Increase (decrease) in other liabilities | ​ |  | (3,590) | ​ |  | 33,050 | ​ |  | 435
(Increase) decrease in other assets | ​ |  | 5,136 | ​ |  | (34,602) | ​ |  | (1,518)
NET CASH FROM OPERATING ACTIVITIES | ​ |  | 5,532 | ​ |  | 93,998 | ​ |  | 99,364
CASH FLOWS FROM INVESTING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Securities available-for-sale acquired from dissolution of FFBRM | ​ | ​ | (1,407) | ​ | ​ | — | ​ | ​ | —
(Increase) decrease in premises and equipment | ​ | ​ | (13) | ​ | ​ | (4,990) | ​ | ​ | —
Cash received (disbursed) from acquisitions | ​ |  | — | ​ |  | — | ​ |  | (31,348)
NET CASH FROM INVESTING ACTIVITIES | ​ |  | (1,420) | ​ |  | (4,990) | ​ |  | (31,348)
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Principal payments on borrowings | ​ |  | — | ​ |  | — | ​ |  | —
Purchase of treasury stock | ​ |  | (11,514) | ​ |  | (27,701) | ​ |  | (42,471)
Dividends paid | ​ |  | (15,383) | ​ |  | (14,459) | ​ |  | (14,181)
NET CASH FROM FINANCING ACTIVITES | ​ |  | (26,897) | ​ |  | (42,160) | ​ |  | (56,652)
NET (DECREASE) INCREASE IN CASH | ​ |  | (22,785) | ​ |  | 46,848 | ​ |  | 11,364
CASH, BEGINNING OF YEAR | ​ |  | 60,692 | ​ |  | 13,844 | ​ |  | 2,480
CASH, END OF YEAR | ​ | $ | 37,907 | ​ | $ | 60,692 | ​ | $ | 13,844
Supplemental disclosures of cash flow information: | ​ |  |  | ​ |  |  | ​ |  |
Cash paid during the year for: | ​ |  |  | ​ |  |  | ​ |  |
Interest | ​ | $ | — | ​ | $ | — | ​ | $ | —
Income taxes | ​ | $ | 11,350 | ​ | $ | 13,525 | ​ | $ | 15,025
​

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