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Parent Company Statements | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company Statements | Parent Company Statements
CONDENSED BALANCE SHEETS |  |  |
| December 31,
(In thousands) | 2023 |  | 2022
ASSETS |  |  |
Cash and cash equivalents | $ | 10,064 |  |  | $ | 1,849 |
Investment in subsidiaries | 575,971 |  |  | 567,581 |
Other assets | 4,252 |  |  | 845 |
Total assets | $ | 590,287 |  |  | $ | 570,275 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |
Subordinated debt and trust preferred securities | $ | 46,354 |  |  | $ | 56,941 |
Other liabilities | 1,583 |  |  | 1,235 |
Shareholders' equity | 542,350 |  |  | 512,099 |
Total liabilities and shareholders' equity | $ | 590,287 |  |  | $ | 570,275 |
CONDENSED STATEMENTS OF INCOME |  |  |  |  |
| Years Ended December 31,
(In thousands) | 2023 |  | 2022 |  | 2021
Income |  |  |  |  |
Dividends from subsidiaries | $ | — |  |  | $ | — |  |  | $ | 3,897 |
Other income | 147 |  |  | 1,130 |  |  | 35 |
Total Income | 147 |  |  | 1,130 |  |  | 3,932 |
Expenses | 10,865 |  |  | 7,333 |  |  | 15,391 |
(Loss) income before income tax and equity in undistributed earnings of subsidiaries | (10,718) |  |  | (6,203) |  |  | (11,459) |
Income Tax Benefit | 2,932 |  |  | 702 |  |  | 3,140 |
Equity in undistributed earnings of subsidiaries | 45,183 |  |  | 60,307 |  |  | 37,638 |
Net Income | $ | 37,397 |  |  | $ | 54,806 |  |  | $ | 29,319 |
CONDENSED STATEMENTS OF CASH FLOWS |  |  |  |  |
| Years Ended December 31,
(In thousands) | 2023 |  | 2022 |  | 2021
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |
Net income | $ | 37,397 |  |  | $ | 54,806 |  |  | $ | 29,319 |
Equity in undistributed earnings of subsidiaries | (45,183) |  |  | (60,307) |  |  | (37,638) |
Stock based compensation | 1,103 |  |  | 1,142 |  |  | 696 |
Amortization of debt issuance costs | 7 |  |  | 26 |  |  | 26 |
Net change in other assets | (3,407) |  |  | 759 |  |  | (1,735) |
Net change in other liabilities | (246) |  |  | (6,285) |  |  | 13,356 |
Net cash (used in) provided by operating activities | (10,329) |  |  | (9,859) |  |  | 4,024 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |
Net cash paid for acquisition | (25,574) |  |  | — |  |  | (792) |
Investment in subsidiary | 71,493 |  |  | (1,787) |  |  | (27,353) |
Net cash provided by (used in) investing activities | 45,919 |  |  | (1,787) |  |  | (28,145) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |
Dividends paid | (12,981) |  |  | (12,735) |  |  | (8,872) |
Employee and Director Stock Purchase Plans stock issuance | 482 |  |  | 364 |  |  | 307 |
Proceeds from issuance of common stock | — |  |  | — |  |  | 70,545 |
Treasury stock purchased | (4,876) |  |  | (2,957) |  |  | (128) |
Riverview restricted stock (1) | — |  |  | 776 |  |  | — |
Subordinated debt and trust preferred securities redemption | (10,000) |  |  | (16,778) |  |  | (6,870) |
Other, net | — |  |  | — |  |  | (283) |
Net cash (used in) provided by financing activities | (27,375) |  |  | (31,330) |  |  | 54,699 |
Net increase (decrease) in cash and cash equivalents | 8,215 |  |  | (42,976) |  |  | 30,578 |
Cash and cash equivalents, beginning of year | 1,849 |  |  | 44,825 |  |  | 14,247 |
Cash and cash equivalents, end of year | $ | 10,064 |  |  | $ | 1,849 |  |  | $ | 44,825 |
(1) Additionally, 2,500 shares of restricted stock were paid out in cash resulting in $776 thousand of cash consideration relating to stock awards.

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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 -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/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: 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
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