XML 68 R55.htm IDEA: XBRL DOCUMENT
v3.22.4

Condensed Parent Company Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Condensed Parent Company Statements |
Schedule of condensed statements of financial condition | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31,
​ |  | 2022 |  | 2021
​ | ​ | (In Thousands)
Statements of Financial Condition | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash | ​ | $ | 29,097 | ​ | $ | 48,372
Investment in subsidiary bank | ​ |  | 608,416 | ​ |  | 672,342
Deferred and accrued income taxes | ​ |  | 148 | ​ |  | 94
Prepaid expenses and other assets | ​ |  | 882 | ​ |  | 868
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | $ | 638,543 | ​ | $ | 721,676
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders’ Equity | ​ |  | ​ | ​ |  | ​
Accounts payable and accrued expenses | ​ | $ | 5,401 | ​ | $ | 5,166
Subordinated debentures issued to capital trust | ​ |  | 25,774 | ​ |  | 25,774
Subordinated notes | ​ |  | 74,281 | ​ |  | 73,984
Common stock | ​ |  | 122 | ​ |  | 131
Additional paid-in capital | ​ |  | 42,445 | ​ |  | 38,314
Retained earnings | ​ |  | 543,875 | ​ |  | 545,548
Accumulated other comprehensive income (loss) | ​ |  | (53,355) | ​ |  | 32,759
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | $ | 638,543 | ​ | $ | 721,676
​
Schedule of condensed statements of income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | (In Thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Statements of Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income |  | ​ |  |  | ​ |  |  | ​ |
Dividends from subsidiary bank | ​ | $ | 60,000 | ​ | $ | 74,000 | ​ | $ | 40,000
Other income | ​ |  | — | ​ |  | — | ​ |  | 5
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | 60,000 | ​ |  | 74,000 | ​ |  | 40,005
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Expense | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Operating expenses | ​ |  | 2,550 | ​ |  | 2,121 | ​ |  | 2,197
Interest expense | ​ |  | 5,298 | ​ |  | 7,613 | ​ |  | 7,459
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | 7,848 | ​ |  | 9,734 | ​ |  | 9,656
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income tax and equity in undistributed earnings of subsidiaries | ​ |  | 52,152 | ​ |  | 64,266 | ​ |  | 30,349
Credit for income taxes | ​ |  | (1,608) | ​ |  | (1,850) | ​ |  | (1,800)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before equity in earnings of subsidiaries | ​ |  | 53,760 | ​ |  | 66,116 | ​ |  | 32,149
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed earnings of subsidiaries | ​ |  | 22,188 | ​ |  | 8,511 | ​ |  | 27,164
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 75,948 | ​ | $ | 74,627 | ​ | $ | 59,313
​
Schedule of condensed statements of cashflows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | (In Thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Statements of Cash Flows | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Activities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 75,948 | ​ | $ | 74,627 | ​ | $ | 59,313
Items not requiring (providing) cash | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Equity in undistributed earnings of subsidiary | ​ |  | (22,188) | ​ |  | (8,511) | ​ |  | (27,164)
Compensation expense for stock option grants | ​ |  | 1,437 | ​ |  | 1,225 | ​ |  | 1,153
Amortization of interest rate derivative and deferred costs on subordinated notes | ​ |  | 297 | ​ |  | 587 | ​ |  | 608
Changes in | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Prepaid expenses and other assets | ​ |  | (14) | ​ |  | 15 | ​ |  | (15)
Accounts payable and accrued expenses | ​ |  | 69 | ​ |  | (1,661) | ​ |  | 31
Income taxes | ​ |  | (54) | ​ |  | 63 | ​ |  | (46)
Net cash provided by operating activities | ​ |  | 55,495 | ​ |  | 66,345 | ​ |  | 33,880
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investing Activities | ​ |  |  | ​ |  |  | ​ |  |
Net cash provided by investing activities | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financing Activities | ​ |  |  | ​ |  |  | ​ |  |
Purchases of the Company’s common stock | ​ |  | (61,847) | ​ |  | (39,123) | ​ |  | (22,104)
Proceeds from issuance of subordinated notes | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 73,513
Redemption of subordinated notes | ​ | ​ | — | ​ | ​ | (75,000) | ​ | ​ | —
Dividends paid | ​ |  | (19,181) | ​ |  | (18,800) | ​ |  | (33,426)
Stock options exercised | ​ |  | 6,258 | ​ |  | 3,700 | ​ |  | 661
Net cash provided by (used in) financing activities | ​ |  | (74,770) | ​ |  | (129,223) | ​ |  | 18,644
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Increase (Decrease) in Cash | ​ |  | (19,275) | ​ |  | (62,878) | ​ |  | 52,524
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, Beginning of Year | ​ |  | 48,372 | ​ |  | 111,250 | ​ |  | 58,726
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash, End of Year | ​ | $ | 29,097 | ​ | $ | 48,372 | ​ | $ | 111,250
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Additional Cash Payment Information | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Interest paid | ​ | $ | 5,115 | ​ | $ | 9,103 | ​ | $ | 7,349
​
Schedule of condensed statements of comprehensive income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | (In Thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Statements of Comprehensive Income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Income | ​ | $ | 75,948 | ​ | $ | 74,627 | ​ | $ | 59,313
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Comprehensive income (loss) of subsidiaries | ​ |  | (86,114) | ​ |  | (20,392) | ​ |  | 20,905
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Comprehensive Income | ​ | $ | (10,166) | ​ | $ | 54,235 | ​ | $ | 80,218

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

X
- Definition Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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
Name: | srt_CondensedStatementOfComprehensiveIncomeTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration