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Parent Company Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Condition | Following are the condensed statements of condition, income and cash flows for the Company's parent company: STATEMENTS OF CONDITION
|  | December 31,
(In thousands) |  | 2023 |  | 2022
ASSETS |  |  |  |
Cash |  | $ | 35,219 |  |  | $ | 40,076 |
Investment in subsidiary |  | 508,674 |  |  | 460,753 |
Receivable from subsidiary |  | — |  |  | 47 |
Other assets |  | 14,142 |  |  | 9,410 |
Total assets |  | $ | 558,035 |  |  | $ | 510,286 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |
Junior subordinated debentures |  | $ | 44,331 |  |  | $ | 44,331 |
Due to subsidiary |  | — |  |  | 16 |
Other liabilities |  | 18,640 |  |  | 14,660 |
Shareholders’ equity |  | 495,064 |  |  | 451,279 |
Total liabilities and shareholders’ equity |  | $ | 558,035 |  |  | $ | 510,286 |
Condensed Statements of Income | STATEMENTS OF INCOME
|  | For the Year Ended December 31,
(In thousands) |  | 2023 |  | 2022 |  | 2021
Operating Income |  |  |  |  |  |
Dividend income from subsidiary |  | $ | 22,500 |  |  | $ | 31,700 |  |  | $ | 41,700 |
Other income |  | — |  |  | 19 |  |  | 7 |
Total operating income |  | 22,500 |  |  | 31,719 |  |  | 41,707 |
Operating Expenses |  |  |  |  |  |
Interest on borrowings |  | 2,150 |  |  | 2,140 |  |  | 2,524 |
Fees to Bank |  | 180 |  |  | 180 |  |  | 160 |
Other operating expenses |  | 915 |  |  | 794 |  |  | 628 |
Total operating expenses |  | 3,245 |  |  | 3,114 |  |  | 3,312 |
Income before equity in undistributed income of subsidiaries and income taxes |  | 19,255 |  |  | 28,605 |  |  | 38,395 |
Equity in undistributed income of subsidiaries |  | 23,389 |  |  | 32,129 |  |  | 29,869 |
Income before income taxes |  | 42,644 |  |  | 60,734 |  |  | 68,264 |
Income tax benefit |  | 739 |  |  | 705 |  |  | 750 |
Net Income |  | $ | 43,383 |  |  | $ | 61,439 |  |  | $ | 69,014 |
Condensed Statements of Cash Flows | STATEMENTS OF CASH FLOWS
|  | For the Year Ended December 31,
(In thousands) |  | 2023 |  | 2022 |  | 2021
Operating Activities |  |  |  |  |  |
Net income |  | $ | 43,383 |  |  | $ | 61,439 |  |  | $ | 69,014 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Equity in undistributed income of subsidiaries |  | (23,389) |  |  | (32,129) |  |  | (29,869) |
(Increase) decrease in other assets |  | (4,884) |  |  | 9,219 |  |  | 4,244 |
Increase (decrease) in due to subsidiaries |  | 31 |  |  | (187) |  |  | 202 |
Increase (decrease) in other liabilities |  | 4,005 |  |  | (1,051) |  |  | (558) |
Net cash provided by operating activities |  | 19,146 |  |  | 37,291 |  |  | 43,033 |
Financing Activities |  |  |  |  |  |
Net proceeds from issuance of common stock |  | 2,533 |  |  | 2,198 |  |  | 2,118 |
Common stock repurchases |  | (2,000) |  |  | (10,240) |  |  | (10,090) |
Repayment of subordinated debt |  | — |  |  | — |  |  | (15,000) |
Cash dividends paid on common stock |  | (24,536) |  |  | (23,512) |  |  | (21,081) |
Net cash used in financing activities |  | (24,003) |  |  | (31,554) |  |  | (44,053) |
Net (decrease) increase in cash, cash equivalents and restricted cash |  | (4,857) |  |  | 5,737 |  |  | (1,020) |
Cash, cash equivalents and restricted cash at beginning of year |  | 40,076 |  |  | 34,339 |  |  | 35,359 |
Cash, cash equivalents and restricted cash at end of year |  | $ | 35,219 |  |  | $ | 40,076 |  |  | $ | 34,339 |

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