XML 43 R28.htm IDEA: XBRL DOCUMENT
v3.25.0.1

PARENT COMPANY CONDENSED FINANCIAL STATEMENTS | 12 Months Ended
--- | ---
Dec. 31, 2024
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, 2024 and 2023, 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, 2024, are as follows: CONDENSED BALANCE SHEETS ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(Dollar amounts in thousands) |  | 2024 |  | 2023
ASSETS |  | ​ |  |  | ​ |
Cash deposits in affiliated banks | ​ | $ | 4,291 | ​ | $ | 37,907
Investments in subsidiaries | ​ |  | 556,489 | ​ |  | 484,868
Securities available-for-sale | ​ | ​ | — | ​ | ​ | 1,401
Land and headquarters building, net | ​ |  | 8,518 | ​ |  | 8,822
Other | ​ |  | 44,553 | ​ |  | 36,985
Total Assets | ​ | $ | 613,851 | ​ | $ | 569,983
LIABILITIES AND SHAREHOLDERS' EQUITY | ​ |  |  | ​ |  |
Liabilities | ​ |  |  | ​ |  |
Notes payable | ​ |  | 20,833 | ​ |  | —
Dividends payable | ​ |  | 6,032 | ​ |  | 5,304
Other liabilities | ​ |  | 37,945 | ​ |  | 36,703
TOTAL LIABILITIES | ​ |  | 64,810 | ​ |  | 42,007
Shareholders' Equity | ​ |  | 549,041 | ​ |  | 527,976
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | ​ | $ | 613,851 | ​ | $ | 569,983
​ CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
(Dollar amounts in thousands) |  | 2024 |  | 2023 |  | 2022
Dividends from subsidiaries | ​ | $ | 45,166 | ​ | $ | 2,818 | ​ | $ | 94,048
Securities interest income | ​ | ​ | 52 | ​ | ​ | 7 | ​ | ​ | —
Other income | ​ |  | 1,497 | ​ |  | 1,476 | ​ |  | 1,254
Interest on borrowings | ​ |  | (821) | ​ |  | — | ​ |  | —
Other operating expenses | ​ |  | (4,804) | ​ |  | (3,719) | ​ |  | (3,435)
Income before income taxes and equity in undistributed earnings of subsidiaries | ​ |  | 41,090 | ​ |  | 582 | ​ |  | 91,867
Income tax benefit | ​ |  | 1,101 | ​ |  | 684 | ​ |  | 1,110
Income before equity in undistributed earnings of subsidiaries | ​ |  | 42,191 | ​ |  | 1,266 | ​ |  | 92,977
Equity in undistributed earnings of subsidiaries | ​ |  | 5,084 | ​ |  | 59,406 | ​ |  | (21,868)
Net income | ​ | $ | 47,275 | ​ | $ | 60,672 | ​ | $ | 71,109
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Comprehensive income (loss) | ​ | $ | 42,077 | ​ | $ | 73,559 | ​ | $ | (66,439)
​ CONDENSED STATEMENTS OF CASH FLOWS ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
(Dollar amounts in thousands) |  | 2024 |  | 2023 |  | 2022
CASH FLOWS FROM OPERATING ACTIVITIES: |  | ​ |  |  | ​ |  |  | ​ |
Net Income | ​ | $ | 47,275 | ​ | $ | 60,672 | ​ | $ | 71,109
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Depreciation and amortization | ​ |  | 308 | ​ |  | 307 | ​ |  | 297
Equity in undistributed earnings | ​ |  | (5,084) | ​ |  | (59,406) | ​ |  | 21,868
Contribution of shares to ESOP | ​ |  | 1,665 | ​ |  | 1,518 | ​ |  | 1,451
Restricted stock compensation | ​ |  | 1,334 | ​ |  | 895 | ​ |  | 825
Increase (decrease) in other liabilities | ​ |  | 1,242 | ​ |  | (3,590) | ​ |  | 33,050
(Increase) decrease in other assets | ​ |  | (7,568) | ​ |  | 5,136 | ​ |  | (34,602)
NET CASH FROM OPERATING ACTIVITIES | ​ |  | 39,172 | ​ |  | 5,532 | ​ |  | 93,998
CASH FLOWS FROM INVESTING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Securities available-for-sale acquired from dissolution of FFBRM | ​ | ​ | — | ​ | ​ | (1,407) | ​ | ​ | —
Maturities of available for sale securities | ​ | ​ | 1,407 | ​ | ​ | — | ​ | ​ | —
(Increase) decrease in premises and equipment | ​ | ​ | (4) | ​ | ​ | (13) | ​ | ​ | (4,990)
Cash received (disbursed) from acquisitions | ​ |  | (73,400) | ​ |  | — | ​ |  | —
NET CASH FROM INVESTING ACTIVITIES | ​ |  | (71,997) | ​ |  | (1,420) | ​ |  | (4,990)
CASH FLOWS FROM FINANCING ACTIVITIES: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from borrowings | ​ |  | 25,000 | ​ |  | — | ​ |  | —
Principal payments on borrowings | ​ |  | (4,167) | ​ |  | — | ​ |  | —
Purchase of treasury stock | ​ |  | (376) | ​ |  | (11,514) | ​ |  | (27,701)
Dividends paid | ​ |  | (21,248) | ​ |  | (15,383) | ​ |  | (14,459)
NET CASH FROM FINANCING ACTIVITES | ​ |  | (791) | ​ |  | (26,897) | ​ |  | (42,160)
NET (DECREASE) INCREASE IN CASH | ​ |  | (33,616) | ​ |  | (22,785) | ​ |  | 46,848
CASH, BEGINNING OF YEAR | ​ |  | 37,907 | ​ |  | 60,692 | ​ |  | 13,844
CASH, END OF YEAR | ​ | $ | 4,291 | ​ | $ | 37,907 | ​ | $ | 60,692
Supplemental disclosures of cash flow information: | ​ |  |  | ​ |  |  | ​ |  |
Cash paid during the year for: | ​ |  |  | ​ |  |  | ​ |  |
Interest | ​ | $ | 821 | ​ | $ | — | ​ | $ | —
Income taxes | ​ | $ | 10,480 | ​ | $ | 11,350 | ​ | $ | 13,525
​

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration