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Parent Company Statements (Tables) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets |
CONDENSED BALANCE SHEETS |  |  |
| December 31,
(In thousands) | 2024 |  | 2023
ASSETS |  |  |
Cash and cash equivalents | $ | 83,209 |  |  | $ | 10,064 |
Investment in subsidiaries | 617,476 |  |  | 575,971 |
Other assets | 1,423 |  |  | 4,252 |
Total assets | $ | 702,108 |  |  | $ | 590,287 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |
Subordinated debt and trust preferred securities | $ | 45,741 |  |  | $ | 46,354 |
Other liabilities | 1,349 |  |  | 1,583 |
Shareholders' equity | 655,018 |  |  | 542,350 |
Total liabilities and shareholders' equity | $ | 702,108 |  |  | $ | 590,287 |
Condensed Statements of Income and Comprehensive Income |
CONDENSED STATEMENTS OF INCOME |  |  |  |  |
| Years Ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
Income |  |  |  |  |
Other income | $ | 62 |  |  | $ | 147 |  |  | $ | 1,130 |
Total Income | 62 |  |  | 147 |  |  | 1,130 |
Expenses | 6,677 |  |  | 10,865 |  |  | 7,333 |
(Loss) income before income tax and equity in undistributed earnings of subsidiaries | (6,615) |  |  | (10,718) |  |  | (6,203) |
Income Tax Benefit | 1,549 |  |  | 2,932 |  |  | 702 |
Equity in undistributed earnings of subsidiaries | 54,503 |  |  | 45,183 |  |  | 60,307 |
Net Income | $ | 49,437 |  |  | $ | 37,397 |  |  | $ | 54,806 |
Condensed Statement of Cash Flows |
CONDENSED STATEMENTS OF CASH FLOWS |  |  |  |  |
| Years Ended December 31,
(In thousands) | 2024 |  | 2023 |  | 2022
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |
Net income | $ | 49,437 |  |  | $ | 37,397 |  |  | $ | 54,806 |
Equity in undistributed earnings of subsidiaries | (54,503) |  |  | (45,183) |  |  | (60,307) |
Stock based compensation | 1,047 |  |  | 1,103 |  |  | 1,142 |
Amortization of debt issuance costs | 7 |  |  | 7 |  |  | 26 |
Net change in other assets | 2,829 |  |  | (3,407) |  |  | 759 |
Net change in other liabilities | (854) |  |  | (246) |  |  | (6,285) |
Net cash (used in) provided by operating activities | (2,037) |  |  | (10,329) |  |  | (9,859) |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |
Net cash paid for acquisition | — |  |  | (25,574) |  |  | — |
Investment in subsidiary | 12,810 |  |  | 71,493 |  |  | (1,787) |
Net cash provided by (used in) investing activities | 12,810 |  |  | 45,919 |  |  | (1,787) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |
Dividends paid | (13,822) |  |  | (12,981) |  |  | (12,735) |
Employee and Director Stock Purchase Plans stock issuance | 561 |  |  | 482 |  |  | 364 |
Proceeds from issuance of common stock | 75,956 |  |  | — |  |  | — |
Treasury stock purchased | (323) |  |  | (4,876) |  |  | (2,957) |
Riverview restricted stock (1) | — |  |  | — |  |  | 776 |
Subordinated debt and trust preferred securities redemption | — |  |  | (10,000) |  |  | (16,778) |
Net cash (used in) provided by financing activities | 62,372 |  |  | (27,375) |  |  | (31,330) |
Net increase (decrease) in cash and cash equivalents | 73,145 |  |  | 8,215 |  |  | (42,976) |
Cash and cash equivalents, beginning of year | 10,064 |  |  | 1,849 |  |  | 44,825 |
Cash and cash equivalents, end of year | $ | 83,209 |  |  | $ | 10,064 |  |  | $ | 1,849 |
(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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